David Wartnaby Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 05348500 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 JANUARY 2023

FOR

DAVID WARTNABY LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Mr D R Wartnaby

SECRETARY:

Ms M Wartnaby

REGISTERED OFFICE:

Unit 2.02

High Weald House

Glovers End

Bexhill

East Sussex

TN39 5ES

REGISTERED NUMBER:

05348500 (England and Wales)

ACCOUNTANTS:

Acuity Professional Partnership LLP

Chartered Accountants & Tax Advisers

Fifth Floor

11 Leadenhall Street

London

EC3V 1LP

FIXED ASSETS

Tangible assets

4

7,692

9,368

CURRENT ASSETS

Debtors

5

156,185

163,552

Cash at bank and in hand

17,452

31,087

173,637

194,639

CREDITORS

Amounts falling due within one year

6

34,416

44,290

NET CURRENT ASSETS

139,221

150,349

TOTAL ASSETS LESS CURRENT LIABILITIES

146,913

159,717

PROVISIONS FOR LIABILITIES

7

1,424

1,735

NET ASSETS

145,489

157,982

CAPITAL AND RESERVES

Called up share capital

8

100

100

Retained earnings

145,389

157,882

SHAREHOLDERS' FUNDS

145,489

157,982

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 January 2023 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 9 November 2023 and were signed by:

Mr D R Wartnaby - Director

1.	STATUTORY INFORMATION

David Wartnaby 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.

SIGNIFICANT JUDGEMENTS AND ESTIMATES

In preparing the financial statements, the directors are required to make estimates and judgments about the carrying amounts of assets and liabilities. The estimates and assumptions are reviewed on an ongoing basis and are based on historical experience and other factors that are considered by the directors to be relevant. Revision to accounting estimates are recognised in the period in which the estimate is revised.

TURNOVER

Turnover represents net invoiced sales of services, excluding value added tax.

TANGIBLE FIXED ASSETS

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

Studio equipment

-

25% on reducing balance

Office equipment

-

25% on reducing balance

Computer equipment

-

25% on reducing balance

FINANCIAL INSTRUMENTS

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognized in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset , with the net amounts presented in the financial statements , when there is a legally enforceable right to set off the recognized amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

BASIC FINANCIAL ASSETS

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

CLASSIFICATION OF FINANCIAL LIABILITIES

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

BASIC FINANCIAL LIABILITIES

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies that are classified as debt, are initially recognized at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payment discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors greater than one year are recognized initially at transaction price and subsequently measured at amortised cost using the effective interest method.

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Studio

Office

Computer

equipment

equipment

equipment

Totals

£

£

£

£

Cost

At 30 January 2022

36,435

7,097

21,539

65,071

Additions

822

-

-

822

At 29 January 2023

37,257

7,097

21,539

65,893

Depreciation

At 30 January 2022

31,034

5,810

18,859

55,703

Charge for year

1,506

322

670

2,498

At 29 January 2023

32,540

6,132

19,529

58,201

Net book value

At 29 January 2023

4,717

965

2,010

7,692

At 29 January 2022

5,401

1,287

2,680

9,368

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

27,120

31,248

Other debtors

129,065

132,304

156,185

163,552

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

221

2,359

Taxation and social security

34,195

41,931

34,416

44,290

7.	PROVISIONS FOR LIABILITIES

2023

2022

£

£

Deferred tax

1,424

1,735

Deferred

tax

£

Balance at 30 January 2022

1,735

Provided during year

(311

)

Balance at 29 January 2023

1,424

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

100

Ordinary

£1

100

100

9.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr D R Wartnaby.