Caseware UK (AP4) 2022.0.179 2022.0.179 2023-07-312023-07-31truetrue62022-08-017falseNo description of principal activityThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 5078647 2022-08-01 2023-07-31 5078647 2021-08-01 2022-07-31 5078647 2023-07-31 5078647 2022-07-31 5078647 c:Director1 2022-08-01 2023-07-31 5078647 c:Director3 2022-08-01 2023-07-31 5078647 c:RegisteredOffice 2022-08-01 2023-07-31 5078647 d:OfficeEquipment 2022-08-01 2023-07-31 5078647 d:OfficeEquipment 2023-07-31 5078647 d:OfficeEquipment 2022-07-31 5078647 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 5078647 d:OtherPropertyPlantEquipment 2022-08-01 2023-07-31 5078647 d:OtherPropertyPlantEquipment 2023-07-31 5078647 d:OtherPropertyPlantEquipment 2022-07-31 5078647 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 5078647 d:OwnedOrFreeholdAssets 2022-08-01 2023-07-31 5078647 d:Goodwill 2023-07-31 5078647 d:Goodwill 2022-07-31 5078647 d:CurrentFinancialInstruments 2023-07-31 5078647 d:CurrentFinancialInstruments 2022-07-31 5078647 d:Non-currentFinancialInstruments 2023-07-31 5078647 d:Non-currentFinancialInstruments 2022-07-31 5078647 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 5078647 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 5078647 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-07-31 5078647 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-07-31 5078647 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-07-31 5078647 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-07-31 5078647 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-07-31 5078647 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-07-31 5078647 c:FRS102 2022-08-01 2023-07-31 5078647 c:AuditExempt-NoAccountantsReport 2022-08-01 2023-07-31 5078647 c:FullAccounts 2022-08-01 2023-07-31 5078647 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 5078647 2 2022-08-01 2023-07-31 iso4217:GBP xbrli:pure

Registered number: 5078647










WARBURTONS OF LEIGH LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2023

 
WARBURTONS OF LEIGH LIMITED
 

COMPANY INFORMATION


Directors
A S Nekarman 
R Millard 




Registered number
5078647



Registered office
Kingsridge House
601 London Road

Westcliff

Essex

SS0 9PE




Trading Address
40 Broadway

Leigh-on-Sea

Essex

SS9 1AJ






Accountants
MWS
Chartered Accountants

Kingsridge House

601 London Road

Westcliff-on-Sea

Essex

SS0 9PE





 
WARBURTONS OF LEIGH LIMITED
REGISTERED NUMBER: 5078647

BALANCE SHEET
AS AT 31 JULY 2023

2023
2022
Note
£
£

  

Fixed assets
  

Tangible assets
 6 
1,993
4,870

  
1,993
4,870

Current assets
  

Stocks
  
128,720
127,892

Debtors: amounts falling due within one year
 7 
9,356
8,791

Cash at bank and in hand
 8 
55,645
71,193

  
193,721
207,876

Creditors: amounts falling due within one year
 9 
(145,785)
(165,419)

Net current assets
  
 
 
47,936
 
 
42,457

Total assets less current liabilities
  
49,929
47,327

  

Creditors: amounts falling due after more than one year
 10 
(16,201)
(18,983)

  
33,728
28,344

Provisions for liabilities
  

Deferred taxation
  
(252)
(672)

  
 
 
(252)
 
 
(672)

  

Net assets excluding pension asset
  
33,476
27,672

Net assets
  
33,476
27,672


Capital and reserves
  

Called up share capital 
  
3
3

Profit and loss account
  
33,473
27,669

  
33,476
27,672


Page 1

 
WARBURTONS OF LEIGH LIMITED
REGISTERED NUMBER: 5078647

BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 October 2023.




R Millard
A S Nekarman
Director
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
WARBURTONS OF LEIGH LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

1.


General information

The company is limited by shares and incorporated in England. Its registered office is Kingsridge House, 601 London Road, Westcliff-On-Sea, SS0 9PE. Its principal place of business is 40 Broadway, Leigh-On-Sea, SS9 1AJ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

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. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
WARBURTONS OF LEIGH LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 4

 
WARBURTONS OF LEIGH LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes 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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, per the below basis.

Depreciation is provided on the following basis:

Office equipment
-
20% Reducing balance basis
Other fixed assets
-
33% Straight Line

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

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
WARBURTONS OF LEIGH LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

 
2.14

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance sheet.

 
2.15

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised 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 recognised 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 trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Other financial assets

Other financial assets, which includes investments in equity instruments which are not classified as subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the recognised transaction price. Such assets are subsequently measured at fair value with the changes in fair value being recognised in the profit or loss. Where other financial assets are not publicly traded, hence their fair value cannot be measured reliably, they are measured at cost less impairment.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of
Page 6

 
WARBURTONS OF LEIGH LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)


2.15
Financial instruments (continued)

the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

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

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

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

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
2.16

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2022 - 7).


4.


Dividends

2023
2022
£
£


Dividends
40,000
40,000

40,000
40,000

Page 7

 
WARBURTONS OF LEIGH LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

5.


Intangible assets




Goodwill

£



Cost


At 1 August 2022
60,000



At 31 July 2023

60,000



Amortisation


At 1 August 2022
60,000



At 31 July 2023

60,000



Net book value



At 31 July 2023
-



At 31 July 2022
-



Page 8

 
WARBURTONS OF LEIGH LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

6.


Tangible fixed assets





Office equipment
Other fixed assets
Total

£
£
£



Cost or valuation


At 1 August 2022
30,366
2,000
32,366


Additions
1,296
-
1,296


Disposals
(15,852)
-
(15,852)



At 31 July 2023

15,810
2,000
17,810



Depreciation


At 1 August 2022
26,830
666
27,496


Charge for the year on owned assets
277
666
943


Disposals
(12,622)
-
(12,622)



At 31 July 2023

14,485
1,332
15,817



Net book value



At 31 July 2023
1,325
668
1,993



At 31 July 2022
3,536
1,334
4,870


7.


Debtors

2023
2022
£
£


Trade debtors
2,103
2,103

Prepayments and accrued income
7,253
6,688

9,356
8,791



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
55,645
71,193

55,645
71,193


Page 9

 
WARBURTONS OF LEIGH LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
2,778
2,778

Other loans
4,249
4,249

Trade creditors
73,903
101,902

Corporation tax
11,700
8,305

Other taxation and social security
47,624
43,624

Other creditors
2,252
1,577

Accruals and deferred income
3,279
2,984

145,785
165,419



10.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
16,201
18,983

16,201
18,983


Page 10

 
WARBURTONS OF LEIGH LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023

11.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
2,778
2,778

Other loans
4,249
4,249


7,027
7,027

Amounts falling due 1-2 years

Bank loans
2,778
2,778


2,778
2,778

Amounts falling due 2-5 years

Bank loans
8,333
8,333


8,333
8,333

Amounts falling due after more than 5 years

Bank loans
5,093
7,870

5,093
7,870

23,231
26,008



12.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £14,124 (2022 £11,350)


13.


Related party transactions

During the year the company had related party transactions with the directors, as follows:
A Nekarman dividends £20,000 (2022: £20,000)
R Millard dividends  £20,000 (2022: £20,000)


Page 11