Warrens of Winchester Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 07132847 (England and Wales)

REPORT OF THE DIRECTOR AND

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2022

FOR

WARRENS OF WINCHESTER LIMITED

Page

Company Information

1

Report of the Director

2

Balance Sheet

3

Notes to the Financial Statements

4

Chartered Accountants' Report

8

DIRECTOR:

Mr P D T Morgan

REGISTERED OFFICE:

Unit 1 Moorside Point

Moorside Road

Winnall

Winchester

Hampshire

SO23 7RX

REGISTERED NUMBER:

07132847 (England and Wales)

ACCOUNTANTS:

Rothmans LLP

Chartered Accountants

Chilworth Point

1 Chilworth Road

Southampton

SO16 7JQ

The director presents his report with the financial statements of the company for the year ended 30 June 2022.

DIRECTOR

Mr P D T Morgan held office during the whole of the period from 1 July 2021 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

Mr P D T Morgan - Director

31 March 2023

FIXED ASSETS

Intangible assets

4

60,000

67,500

Tangible assets

5

9,025

9,932

Investments

6

100

100

69,125

77,532

CURRENT ASSETS

Stocks

7

91,508

79,832

Debtors

8

50,414

34,729

Cash at bank and in hand

26,020

47,367

167,942

161,928

CREDITORS

Amounts falling due within one year

9

143,615

157,604

NET CURRENT ASSETS

24,327

4,324

TOTAL ASSETS LESS CURRENT LIABILITIES

93,452

81,856

CREDITORS

Amounts falling due after more than one year

10

33,077

42,814

NET ASSETS

60,375

39,042

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Retained earnings

50,375

29,042

SHAREHOLDERS' FUNDS

60,375

39,042

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 31 March 2023 and were signed by:

Mr P D T Morgan - Director

1.	STATUTORY INFORMATION

Warrens of Winchester 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 (£).

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 under the historical cost convention.

PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS

The financial statements contain information about Warrens of Winchester Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

REVENUE RECOGNITION

Revenue is the amount derived from trading activities of stationery sales, stated after trade discounts, and net of VAT. Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured.

GOODWILL

Goodwill represents the difference between the fair value of the consideration paid on acquisition of a business in 2010 and the fair value of its separate net assets at the date of acquisition. Goodwill is amortised over its estimated useful life of 20 years.

Amortisation and impairment charges are included within administrative expenses in the Income Statement.

TANGIBLE FIXED ASSETS

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

Short leasehold

-

Straight line over 10 years

Fixtures and fittings

-

Straight line over 5 years

Computer equipment

-

Straight line over 3 years

Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost included expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

The assets' residual values, useful lives and depreciation methods are reviewed and if appropriate are adjusted if there is an indication of a significant change since the last reporting date.

GOVERNMENT GRANTS

Government grants have been claimed as part of the UK Job Retention Scheme. These grants are recognised as part of other operating income when it is likely that the economic benefits will flow to the entity. There are no unfulfilled conditions or contingencies attached to these grants.

STOCKS

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

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. Obligations for contributions to defined contribution pension schemes are recognised as an expense in the profit and loss account in the periods during which services are rendered by employees.

INVESTMENTS

Investments in subsidiaries are held at historical cost less any applicable provision for impairment. The company assesses at each reporting date whether there is an indication that an investment may be impaired. If any such indications exist the company makes an estimate of the asset's recoverable amount in order to determine the extent of the impairment loss. Impairment losses are recognised in the Income Statement.

SHORT TERM DEBTORS AND CREDITORS

Debtors and creditors receivable and payable within one year or upon demand are recorded at transaction price whether or not a rate of interest is charged on the balance. Any losses arising from impairment are recognised in the income statement in other operating expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2021 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2021

and 30 June 2022

150,000

AMORTISATION

At 1 July 2021

82,500

Amortisation for year

7,500

At 30 June 2022

90,000

NET BOOK VALUE

At 30 June 2022

60,000

At 30 June 2021

67,500

5.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

Computer

leasehold

fittings

equipment

Totals

£

£

£

£

COST

At 1 July 2021

12,915

20,357

19,995

53,267

Additions

-

471

2,990

3,461

At 30 June 2022

12,915

20,828

22,985

56,728

DEPRECIATION

At 1 July 2021

10,140

15,866

17,329

43,335

Charge for year

463

1,913

1,992

4,368

At 30 June 2022

10,603

17,779

19,321

47,703

NET BOOK VALUE

At 30 June 2022

2,312

3,049

3,664

9,025

At 30 June 2021

2,775

4,491

2,666

9,932

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 July 2021

and 30 June 2022

100

NET BOOK VALUE

At 30 June 2022

100

At 30 June 2021

100

7.

STOCKS

2022

2021

£

£

Stocks

91,508

79,832

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

29,913

24,573

Other debtors

11,492

-

Prepayments

9,009

10,156

50,414

34,729

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

9,736

7,187

Trade creditors

90,110

95,148

Tax

6,669

314

Social security and other taxes

3,009

2,057

Pensions payable

561

-

VAT

11,923

8,803

Other creditors

-

20,411

Rent deposits held

6,115

6,115

Accrued expenses

15,492

17,569

143,615

157,604

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans - 1-2 years

9,943

9,736

Bank loans - 2-5 years

23,134

30,471

Bank loans more than 5 years

-

2,607

33,077

42,814

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than 5 years

-

2,607

11.	LEASING AGREEMENTS

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

2022

2021

£

£

Within one year

36,667

80,000

Between one and five years

-

36,667

36,667

116,667

12.	SECURED DEBTS

There is a fixed and floating charge over the assets of the company with respect to overdrawn bank accounts.

13.	RELATED PARTY DISCLOSURES

At the balance sheet date, the total amount owed from a company under common control was £11,492 (2021: owed by a company under common control was £20,411). No interest is being charged and the amount is repayable on demand.

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Warrens of Winchester Limited for the year ended 30 June 2022 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Warrens of Winchester Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Warrens of Winchester Limited and state those matters that we have agreed to state to the director of Warrens of Winchester Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Warrens of Winchester Limited and its director for our work or for this report.

It is your duty to ensure that Warrens of Winchester Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Warrens of Winchester Limited. You consider that Warrens of Winchester Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Warrens of Winchester Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Rothmans LLP

Chartered Accountants

Chilworth Point

1 Chilworth Road

Southampton

SO16 7JQ

Date: .............................................