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REGISTERED NUMBER: 11277999 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023

FOR

WARFORD CARS LTD

WARFORD CARS LTD (REGISTERED NUMBER: 11277999)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31st March 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WARFORD CARS LTD

COMPANY INFORMATION
for the Year Ended 31st March 2023







DIRECTORS: Mr William Michael Nicholas Kennedy
Mr Daniel Nicholas Muff





REGISTERED OFFICE: KJG
100 Barbirolli Square
Manchester
United Kingdom
M2 3BD





REGISTERED NUMBER: 11277999 (England and Wales)





ACCOUNTANTS: KJG
100 Barbirolli Square
Manchester
M2 3BD

WARFORD CARS LTD (REGISTERED NUMBER: 11277999)

BALANCE SHEET
31st March 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 5,402 6,967

CURRENT ASSETS
Stocks 460,797 180,934
Debtors 5 54,819 64,515
Cash at bank and in hand 108,521 113,003
624,137 358,452
CREDITORS
Amounts falling due within one year 6 (465,936 ) (251,665 )
NET CURRENT ASSETS 158,201 106,787
TOTAL ASSETS LESS CURRENT LIABILITIES 163,603 113,754

CREDITORS
Amounts falling due after more than one year 7 (23,735 ) (33,735 )
NET ASSETS 139,868 80,019

CAPITAL AND RESERVES
Called up share capital 9 125 100
Retained earnings 139,743 79,919
SHAREHOLDERS' FUNDS 139,868 80,019

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 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.

WARFORD CARS LTD (REGISTERED NUMBER: 11277999)

BALANCE SHEET - continued
31st March 2023


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2nd February 2024 and were signed on its behalf by:





Mr William Michael Nicholas Kennedy - Director


WARFORD CARS LTD (REGISTERED NUMBER: 11277999)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31st March 2023


1. STATUTORY INFORMATION

Warford Cars Limited is a private limited company limited by share capital, incorporated in England and Wales, registration number 11277999. The registered office address is KJG, 100 Barbirolli Square, Manchester, United Kingdom, M2 3BD. The principle place of activity address is Unit 11, Deanway Business Park, Wilmslow, Cheshire, SK9 3HW.

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.

Critical accounting judgements and key sources of estimation uncertainty
In the application of the company's accounting policies above, management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period.

Turnover
Turnover represents amounts recognised by the company in respect of goods and services supplied, exclusive of Value Added Tax and trade discounts. Turnover principally consists of car sales. Sales of cars are recognised at point of delivery to the customer. Retail sales are funded through payment from either a finance company or direct payment from the customer via cash, cheque, or debit card. Financing agreements are between the customer and the finance company.

Government grants
Government revenue grants are recognised in the profit and loss account over the period in which the related costs are recognised.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost

Stocks
Motor vehicle stocks are stated at the lower of cost and selling price less selling costs. Fair values are assessed using market research data which is based upon recent industry activity. Whilst the data is deemed representative of current values it is possible that ultimate sales values can vary from those applied.


WARFORD CARS LTD (REGISTERED NUMBER: 11277999)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st March 2023


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current tax. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 2 ) .

WARFORD CARS LTD (REGISTERED NUMBER: 11277999)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st March 2023


4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st April 2022 8,801
Additions 225
At 31st March 2023 9,026
DEPRECIATION
At 1st April 2022 1,834
Charge for year 1,790
At 31st March 2023 3,624
NET BOOK VALUE
At 31st March 2023 5,402
At 31st March 2022 6,967

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 27,672 44,650
Other debtors 27,147 19,865
54,819 64,515

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 7,906 7,906
Trade creditors 207,133 191,717
Taxation and social security 57,702 26,210
Other creditors 193,195 25,832
465,936 251,665

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 23,735 33,735

WARFORD CARS LTD (REGISTERED NUMBER: 11277999)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st March 2023


8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Other loans 169,682 -

The holder of the other loan has a floating charge and negative pledge over the assets of the company dated 21st June 2022.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
75 Ordinary A £1 75 100
25 Ordinary B £1 25 -
25 Ordinary C £1 25 -
125 100

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the reporting date, £3,211 was due from Mr W M Kennedy (2022: £5,821 due to) and £8,608 due to Mr D N Muff (2022 : £Nil) by way of unsecured loans on which the company pays no interest.

11. RELATED PARTY DISCLOSURES

Included in other debtors includes amounts owed from a company under common control of £16,160 (2022 - 10,188). The amount is interest free and has no set repayment date.

12. ULTIMATE CONTROLLING PARTY

The controlling party is Mr William Michael Nicholas Kennedy.