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REGISTERED NUMBER: 05668878 (England and Wales)















WARNHILL TOOL & FASTENERS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023






WARNHILL TOOL & FASTENERS LIMITED (REGISTERED NUMBER: 05668878)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WARNHILL TOOL & FASTENERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2023







DIRECTORS: R S Hilditch
S J Warner





REGISTERED OFFICE: Unit 17a
Road One
Winsford Industrial Estate
Winsford
Cheshire
CW7 3PZ





REGISTERED NUMBER: 05668878 (England and Wales)





ACCOUNTANTS: Murray Smith LLP
Chartered Accountants
Darland House
44 Winnington Hill
Northwich
Cheshire
CW8 1AU

WARNHILL TOOL & FASTENERS LIMITED (REGISTERED NUMBER: 05668878)

BALANCE SHEET
31 JULY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 68,347 93,413
Investments 5 1,300 1,300
69,647 94,713

CURRENT ASSETS
Stocks 6 282,000 275,000
Debtors 7 1,379,358 1,233,155
Cash at bank and in hand 708,984 400,409
2,370,342 1,908,564
CREDITORS
Amounts falling due within one year 8 893,693 727,529
NET CURRENT ASSETS 1,476,649 1,181,035
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,546,296

1,275,748

PROVISIONS FOR LIABILITIES 15,585 21,756
NET ASSETS 1,530,711 1,253,992

CAPITAL AND RESERVES
Called up share capital 9 999 999
Retained earnings 1,529,712 1,252,993
SHAREHOLDERS' FUNDS 1,530,711 1,253,992

WARNHILL TOOL & FASTENERS LIMITED (REGISTERED NUMBER: 05668878)

BALANCE SHEET - continued
31 JULY 2023


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

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

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 Board of Directors and authorised for issue on 19 April 2024 and were signed on its behalf by:





R S Hilditch - Director


WARNHILL TOOL & FASTENERS LIMITED (REGISTERED NUMBER: 05668878)

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

1. STATUTORY INFORMATION

Warnhill Tool & Fasteners 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.

Turnover
Turnover represents the amount receivable for goods and services provided during the year, excluding VAT.

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 - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33.3% on reducing balance

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

WARNHILL TOOL & FASTENERS LIMITED (REGISTERED NUMBER: 05668878)

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

2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of the business.

Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on the present value basis.

Government grants
Grants are included in the profit and loss account on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown on the balance sheet. Where income is received in advance of meeting any performance-related conditions there is not unconditional entitlement to the income and its recognition is deferred and included in creditors as deferred income until the performance-related conditions are met. Where entitlement occurs before income is received, the income is accrued.

Provisions
Provisions are recognised when the company has a present legal or constructive obligation as a result of past events; it is probable that an outflow of resources will be required to settle the obligation; and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are measured at the present value of management's best estimate of the expenditure required to settle the present obligation at the end of the reporting period, and are discounted to present value where the effect is material.

Employee benefits
(a) Wages and salaries and annual leave
Liabilities for wages and salaries and annual leave are recognised and are measured as the amount unpaid at the reporting date at current pay rates in respect of employees' services up to that date. They are expected to be settled within one year.

(b) Pensions
The company operates a defined contribution pension scheme. The amount charged to the profit and loss account in respect of pension costs and the post-retirement benefits is the contributions payable in the year. Differences between contributions payable in the year and contributions actually paid are shown as either accruals or prepayments in the balance sheet.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 11 ) .

WARNHILL TOOL & FASTENERS LIMITED (REGISTERED NUMBER: 05668878)

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 August 2022 49,824 101,614 41,512 192,950
Additions - - 1,287 1,287
Disposals - (6,799 ) - (6,799 )
At 31 July 2023 49,824 94,815 42,799 187,438
DEPRECIATION
At 1 August 2022 26,099 37,278 36,160 99,537
Charge for year 3,558 15,576 2,143 21,277
Eliminated on disposal - (1,723 ) - (1,723 )
At 31 July 2023 29,657 51,131 38,303 119,091
NET BOOK VALUE
At 31 July 2023 20,167 43,684 4,496 68,347
At 31 July 2022 23,725 64,336 5,352 93,413

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 August 2022
and 31 July 2023 1,300
NET BOOK VALUE
At 31 July 2023 1,300
At 31 July 2022 1,300

6. STOCKS
2023 2022
£    £   
Stocks 282,000 275,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 869,354 787,785
Other debtors 900 900
Amounts due from related parties 499,716 436,374
Prepayments 9,388 8,096
1,379,358 1,233,155

WARNHILL TOOL & FASTENERS LIMITED (REGISTERED NUMBER: 05668878)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 570,933 498,698
Corporation tax 107,922 62,027
Social security and other taxes 62,072 44,493
Other creditors 14,623 15,733
Amounts due to group undertaking 63,964 64,052
Directors' current accounts 69,875 38,522
Accrued expenses 4,304 4,004
893,693 727,529

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
999 Ordinary shares £1 999 999

10. RELATED PARTY DISCLOSURES

The company is controlled by the directors who each own 50% of the issued share capital of the parent company Warnhill Investments Limited.