Warriewood Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07784721 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2020

FOR

WARRIEWOOD LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr R A Allan

Mrs E D Allan

REGISTERED OFFICE:

Office Suite One Valley House

Valley Road

Plympton

Plymouth

PL7 1RF

REGISTERED NUMBER:

07784721 (England and Wales)

ACCOUNTANTS:

Bush & Co Limited

2 Barnfield Crescent

Exeter

United Kingdom

Devon

EX1 1QT

FIXED ASSETS

Intangible assets

5

-

-

Tangible assets

6

30,531

33,365

30,531

33,365

CURRENT ASSETS

Stocks

25,257

2,208

Debtors

7

277,402

299,045

Cash at bank and in hand

554,278

323,050

856,937

624,303

CREDITORS

Amounts falling due within one year

8

493,908

354,794

NET CURRENT ASSETS

363,029

269,509

TOTAL ASSETS LESS CURRENT LIABILITIES

393,560

302,874

PROVISIONS FOR LIABILITIES

4,925

5,271

NET ASSETS

388,635

297,603

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

388,535

297,503

SHAREHOLDERS' FUNDS

388,635

297,603

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 September 2021 and were signed on its behalf by:

Mr R A Allan - Director

Mrs E D Allan - Director

1.	STATUTORY INFORMATION

Warriewood Ltd 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.

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Turnover

Turnover represents invoiced services.

Intangible assets

Amounts paid in connection with the acquisition of licences in 2012 , 2013 and 2014 have now been fully amortised over their estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant & machinery

-

25% on cost

Fixtures & fittings

-

20% on cost

Motor vehicles

-

20% on reducing balance

Computer equipment

-

20% on cost

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating to either revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss, 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 138 (2019 - 112 ) .

5.	INTANGIBLE FIXED ASSETS

Licences

£

COST

At 1 January 2020

and 31 December 2020

84,600

AMORTISATION

At 1 January 2020

and 31 December 2020

84,600

NET BOOK VALUE

At 31 December 2020

-

At 31 December 2019

-

6.	TANGIBLE FIXED ASSETS

Plant &

Fixtures

Motor

Computer

machinery

& fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2020

2,595

12,460

37,500

27,957

80,512

Additions

200

1,497

-

4,791

6,488

At 31 December 2020

2,795

13,957

37,500

32,748

87,000

DEPRECIATION

At 1 January 2020

1,210

8,567

22,529

14,841

47,147

Charge for year

507

1,330

2,994

4,491

9,322

At 31 December 2020

1,717

9,897

25,523

19,332

56,469

NET BOOK VALUE

At 31 December 2020

1,078

4,060

11,977

13,416

30,531

At 31 December 2019

1,385

3,893

14,971

13,116

33,365

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

175,187

165,550

Accrued income

33,343

17,404

Other debtors

68,872

116,091

277,402

299,045

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

31,283

18,894

Taxation and social security

170,605

98,590

Other creditors

292,020

237,310

493,908

354,794

9.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2020

2019

£

£

Within one year

25,936

25,936

Between one and five years

20,259

46,195

46,195

72,131

10.	RELATED PARTY DISCLOSURES

Included in other debtors are amounts owed by the directors of £54,011. The loan is charged interest at HM Revenue & Customs official rate of interest and there are no fixed terms of repayment.