Winnington Warehousing Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03231096 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

FOR

WINNINGTON WAREHOUSING LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

I C Thomson

Mrs L A Thomson

M Roberts

SECRETARY:

Mrs L A Thomson

REGISTERED OFFICE:

Cameron Court Winnington Hall

Winnington

Northwich

Cheshire

CW8 4DU

REGISTERED NUMBER:

03231096 (England and Wales)

AUDITORS:

Michael Donnan & Co Limited

Chartered Accountants and Statutory Auditors

Oaktree Court Business Ctr

Mill Lane

Ness

Cheshire

CH64 8TP

FIXED ASSETS

Investment property

4

1,555,000

1,555,000

CURRENT ASSETS

Debtors

5

708,328

350,928

Cash at bank

494,517

797,949

1,202,845

1,148,877

CREDITORS

Amounts falling due within one year

6

119,393

265,740

NET CURRENT ASSETS

1,083,452

883,137

TOTAL ASSETS LESS CURRENT LIABILITIES

2,638,452

2,438,137

CREDITORS

Amounts falling due after more than one year

7

(54,001

)

(56,001

)

PROVISIONS FOR LIABILITIES

(216,000

)

(216,309

)

NET ASSETS

2,368,451

2,165,827

CAPITAL AND RESERVES

Called up share capital

8

21

21

Non-distributable reserves

9

1,036,031

1,036,031

Retained earnings

9

1,332,399

1,129,775

SHAREHOLDERS' FUNDS

2,368,451

2,165,827

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2022 and were signed on its behalf by:

M Roberts - Director

1.	STATUTORY INFORMATION

Winnington Warehousing Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

Transactions are rounded to the nearest £.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents rental income and service charges receivable, excluding value added tax in the UK.

Grants

Grants relating to assets are recognised as income on a systematic basis over the expected useful life of the asset.

Investment property

Investment property is measured at fair value at the reporting date. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss and disclosed as a non-distributable reserve.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Short term debtors and creditors

Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Cash and cash equivalents

Cash and cash equivalents includes cash in hand and cash held with banks.

Distributions to equity holders

Dividends are recognised as a liability in the financial statements in the period in which the dividends are approved by the company's shareholders.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2021

and 31 December 2021

1,555,000

NET BOOK VALUE

At 31 December 2021

1,555,000

At 31 December 2020

1,555,000

Fair value at 31 December 2021 is represented by:

£

Valuation in 2017

1,555,000

If investment property had not been revalued it would have been included at the following historical cost:

31/12/21

31/12/20

£

£

Cost

409,600

409,600

Aggregate depreciation

(164,283

)

(156,091

)

Investment property was valued on an open market basis on 3 May 2017 by a RICS registered valuer .

In the opinion of the directors, this still represents fair value at 31 December 2021.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/21

31/12/20

£

£

Trade debtors

18,544

46,761

Amounts owed by group undertakings

683,648

298,910

Other debtors

6,136

5,257

708,328

350,928

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/21

31/12/20

£

£

Trade creditors

725

29,492

Taxation and social security

80,803

199,690

Other creditors

37,865

36,558

119,393

265,740

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/12/21

31/12/20

£

£

Other creditors

54,001

56,001

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/12/21

31/12/20

value:

£

£

21

Ordinary

£1

21

21

9.

RESERVES

Retained

Non-distributable

earnings

reserves

Totals

£

£

£

At 1 January 2021

1,129,775

1,036,031

2,165,806

Profit for the year

262,624

262,624

Dividends

(60,000

)

(60,000

)

At 31 December 2021

1,332,399

1,036,031

2,368,430

10.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Michael Donnan BSc (Hons), FCA, AMIMechE (Senior Statutory Auditor)

for and on behalf of Michael Donnan & Co Limited

11.	RELATED PARTY DISCLOSURES

At the end of the financial year, the company was owed £683,648 (2020: £298,910) by its parent company, Think Print (UK) Limited. The loan was interest free, unsecured and repayable on demand. Subsequent to the year end, the company declared a dividend which cleared the intercompany balance with its parent.

During the year ended 31 December 2021, rental income was received from Think Print (UK) Limited of £406,783 (2020: £433,768).

During the year ended 31 December 2021, rental income was received from TP European Solutions Limited of £38,742 (2020: £37,815), a company controlled by close family members of the majority shareholder in the parent company. An amount of £14,653 (2020: £42,096) was owing to Winnington Warehousing Limited at the year end.