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REGISTERED NUMBER: 01613232 (England and Wales)
























UNAUDITED




CONSOLIDATED FINANCIAL STATEMENTS




FOR THE YEAR ENDED 30 DECEMBER 2023




FOR



WARRENS OFFICE LTD



WARRENS OFFICE LTD (REGISTERED NUMBER: 01613232)








CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 DECEMBER 2023





Page




Company Information  

1




Consolidated Balance Sheet  

2




Company Balance Sheet  

3




Notes to the Consolidated Financial Statements

4




Chartered Accountants Report

13





WARRENS OFFICE LTD



COMPANY INFORMATION

FOR THE YEAR ENDED 30 DECEMBER 2023









DIRECTOR:

Mr P D T Morgan





REGISTERED OFFICE:

Unit 1 Moorside Point


Moorside Road


Winnall


Winchester


Hampshire


S023 7RX





REGISTERED NUMBER:

01613232 (England and Wales)





ACCOUNTANTS:

Rothmans LLP


Chartered Accountants


Chilworth Point


1 Chilworth Road


Southampton


SO16 7JQ





BANKERS:

Handelsbanken


1 Crown Walk


Jewry Street


Winchester


Hampshire


SO23 8BB



WARRENS OFFICE LTD (REGISTERED NUMBER: 01613232)



CONSOLIDATED BALANCE SHEET

30 DECEMBER 2023



2023

2022



Notes

£   

£   

£   

£   


FIXED ASSETS

Intangible assets

4

193,784


211,410



Tangible assets

5

93,075


125,980



Investments

6

289


289



287,148


337,679




CURRENT ASSETS

Stocks

160,931


151,587



Debtors

7

878,293


994,574



Cash at bank and in hand

379,331


390,449



1,418,555


1,536,610



CREDITORS

Amounts falling due within one year

8

1,208,108


1,439,320



NET CURRENT ASSETS

210,447


97,290



TOTAL ASSETS LESS CURRENT

LIABILITIES

497,595


434,969




CREDITORS

Amounts falling due after more than one

year

9

(23,990

)

(29,797

)



PROVISIONS FOR LIABILITIES

(16,379

)

(19,328

)


NET ASSETS

457,226


385,844




CAPITAL AND RESERVES

Called up share capital

40,441


40,441



Retained earnings

401,934


323,898



SHAREHOLDERS' FUNDS

442,375


364,339




NON-CONTROLLING INTERESTS

14,851


21,505



TOTAL EQUITY

457,226


385,844




The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 December 2023.


The members have not required the company and the group to obtain an audit of its financial statements for the year ended 30 December 2023 in accordance with Section 476 of the Companies Act 2006.


The director acknowledges his responsibilities for:

(a)

ensuring that the group 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 and the group as at the end of each financial year and of the group's 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 and the group.


The financial statements have been prepared 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 Consolidated Income Statement has not been delivered.


The financial statements were approved by the director and authorised for issue on 13 August 2024 and were signed by:





Mr P D T Morgan - Director



WARRENS OFFICE LTD (REGISTERED NUMBER: 01613232)



COMPANY BALANCE SHEET

30 DECEMBER 2023



2023

2022



Notes

£   

£   

£   

£   


FIXED ASSETS

Intangible assets

4

193,784


211,410



Tangible assets

5

70,418


101,722



Investments

6

27,507


27,507



291,709


340,639




CURRENT ASSETS

Stocks

156,575


145,293



Debtors

7

829,070


868,571



Cash at bank and in hand

292,076


333,156



1,277,721


1,347,020



CREDITORS

Amounts falling due within one year

8

1,089,948


1,284,252



NET CURRENT ASSETS

187,773


62,768



TOTAL ASSETS LESS CURRENT

LIABILITIES

479,482


403,407




CREDITORS

Amounts falling due after more than one

year

9

(19,686

)

(29,797

)



PROVISIONS FOR LIABILITIES

(16,379

)

(19,328

)


NET ASSETS

443,417


354,282




CAPITAL AND RESERVES

Called up share capital

25,000


25,000



Retained earnings

418,417


329,282



SHAREHOLDERS' FUNDS

443,417


354,282





The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 December 2023.  


The members have not required the company to obtain an audit of its financial statements for the year ended 30 December 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 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 13 August 2024 and were signed by:





Mr P D T Morgan - Director




WARRENS OFFICE LTD (REGISTERED NUMBER: 01613232)



NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 DECEMBER 2023


1.

STATUTORY INFORMATION



Warrens Office Ltd 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 General 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.    


The company has claimed exemption from the cash flow statements on the basis of it being a small company.


BASIS OF CONSOLIDATION


The consolidated financial statements include the accounts of the individual parent entity, Warrens Office Ltd, as well as the trading subsidiary Solus FS Limited, of which Warrens Office Limited owns 64%.



A number of other subsidiaries detailed in the notes to the accounts have not been included in the consolidation as their combined value is not material.



All significant intercompany account balances and transactions have been eliminated.



Business combinations are accounted for using the purchase method of accounting under FRS 102, Section 19 Business Combinations. In the balance sheet, the acquiree’s identifiable assets, liabilities and contingent liabilities are initially recognised at fair value at the date of acquisition (which is the date on which control is passed to the parent). The results of the acquired operations are included in the consolidated profit and loss account from the date of acquisition. Consolidation ceases from the date on which control ceases.



The company qualifies for Section 399(2A). exemption from consolidation, however the company has chosen not to claim the exception and produce consolidated accounts.



INVESTMENTS IN SUBSIDIARIES



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.



TURNOVER

Revenue is the amount derived from the online commercial supply of office supplies, printed goods, furniture and office products, stated after trade discounts and net of VAT.

Revenue is recognised when the amount of revenue can be measured reliably and it is probable that the economic benefits associated with the transaction will flow to the entity.


INTANGIBLE ASSETS

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.


Computer software is being amortised evenly over its estimated useful life of nil years.



WARRENS OFFICE LTD (REGISTERED NUMBER: 01613232)



NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 DECEMBER 2023


2.

ACCOUNTING POLICIES - continued



TANGIBLE FIXED ASSETS


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


Improvements to property

-

Over the length of the lease


Plant and machinery

-  

25% on reducing balance and 20% on cost


Fixtures and fittings

-  

25% on reducing balance and 20% (computer equipment 33% ) on cost


Motor vehicles

-

25% on cost


Computer equipment

-

33% on cost


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.


STOCKS

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


FINANCIAL INSTRUMENTS

Financial assets such as cash and debtors are measured at the present value of the amounts receivable, less an allowance for the expected level of doubtful receivables. Financial liabilities such as trade creditors, loans and finance leases are measured at the present value of the obligation.

TRADE AND OTHER RECEIVABLES
Trade and other debtors are recognised and carried at the lower of their original value and recoverable amount. Financial assets classified as receivable within one year are not amortised.

TRADE PAYABLES
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 debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are no amortised.


TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.



WARRENS OFFICE LTD (REGISTERED NUMBER: 01613232)



NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 DECEMBER 2023


2.

ACCOUNTING POLICIES - continued



HIRE PURCHASE AND LEASING COMMITMENTS


Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those


held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.



The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.



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


3.

EMPLOYEES AND DIRECTORS



The average number of employees during the year was 26 (2022 - 29 ) .



The average number of employees by undertakings that were proportionately consolidated during the year was 5  (2022 - 7 ) .


4.

INTANGIBLE FIXED ASSETS



Group


Computer



Goodwill


software


Totals

£   

£   

£   



COST


At 31 December 2022

263,927


42,573


306,500




Additions

14,814


-


14,814




At 30 December 2023

278,741


42,573


321,314




AMORTISATION


At 31 December 2022

71,000


24,090


95,090




Amortisation for year

19,292


13,148


32,440




At 30 December 2023

90,292


37,238


127,530




NET BOOK VALUE


At 30 December 2023

188,449


5,335


193,784




At 30 December 2022

192,927


18,483


211,410





WARRENS OFFICE LTD (REGISTERED NUMBER: 01613232)



NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 DECEMBER 2023


4.

INTANGIBLE FIXED ASSETS - conrinued




Company


Computer



Goodwill


software


Totals

£   

£   

£   



COST


At 31 December 2022

263,927


42,573


306,500




Additions

14,814


-


14,814




At 30 December 2023

278,741


42,573


321,314




AMORTISATION


At 31 December 2022

71,000


24,090


95,090




Amortisation for year

19,292


13,148


32,440




At 30 December 2023

90,292


37,238


127,530




NET BOOK VALUE


At 30 December 2023

188,449


5,335


193,784




At 30 December 2022

192,927


18,483


211,410




5.

TANGIBLE FIXED ASSETS



Group


Improvements


Short


to


Plant and


leasehold


property


machinery

£   

£   

£   



COST


At 31 December 2022

16,564


58,583


17,515




Additions

-


4,404


2,122




At 30 December 2023

16,564


62,987


19,637




DEPRECIATION


At 31 December 2022

16,564


49,501


16,471




Charge for year

-


4,270


521




At 30 December 2023

16,564


53,771


16,992




NET BOOK VALUE


At 30 December 2023

-


9,216


2,645




At 30 December 2022

-


9,082


1,044





WARRENS OFFICE LTD (REGISTERED NUMBER: 01613232)



NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 DECEMBER 2023


5.

TANGIBLE FIXED ASSETS - continued



Group



Fixtures



and


Motor


Computer



fittings


vehicles


equipment


Totals

£   

£   

£   

£   



COST


At 31 December 2022

139,372


124,872


999


357,905




Additions

8,188


-


1,282


15,996




At 30 December 2023

147,560


124,872


2,281


373,901




DEPRECIATION


At 31 December 2022

99,890


49,471


28


231,925




Charge for year

15,313


28,219


578


48,901




At 30 December 2023

115,203


77,690


606


280,826




NET BOOK VALUE


At 30 December 2023

32,357


47,182


1,675


93,075




At 30 December 2022

39,482


75,401


971


125,980





Company


Improvements


Short


to


Plant and


leasehold


property


machinery

£   

£   

£   



COST


At 31 December 2022

16,564


58,583


17,515




Additions

-


-


2,122




At 30 December 2023

16,564


58,583


19,637




DEPRECIATION


At 31 December 2022

16,564


49,501


16,471




Charge for year

-


3,756


521




At 30 December 2023

16,564


53,257


16,992




NET BOOK VALUE


At 30 December 2023

-


5,326


2,645




At 30 December 2022

-


9,082


1,044





WARRENS OFFICE LTD (REGISTERED NUMBER: 01613232)



NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 DECEMBER 2023


5.

TANGIBLE FIXED ASSETS - continued



Company



Fixtures



and


Motor



fittings


vehicles


Totals

£   

£   

£   



COST


At 31 December 2022

139,372


98,877


330,911




Additions

7,782


-


9,904




At 30 December 2023

147,154


98,877


340,815




DEPRECIATION


At 31 December 2022

99,890


46,763


229,189




Charge for year

15,211


21,720


41,208




At 30 December 2023

115,101


68,483


270,397




NET BOOK VALUE


At 30 December 2023

32,053


30,394


70,418




At 30 December 2022

39,482


52,114


101,722




6.

FIXED ASSET INVESTMENTS



Group


Other


investments

£   



COST


At 31 December 2022


and 30 December 2023

289




NET BOOK VALUE


At 30 December 2023

289




At 30 December 2022

289




Company


Other


investments

£   



COST


At 31 December 2022


and 30 December 2023

27,507




NET BOOK VALUE


At 30 December 2023

27,507




At 30 December 2022

27,507





WARRENS OFFICE LTD (REGISTERED NUMBER: 01613232)



NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 DECEMBER 2023


6.

FIXED ASSET INVESTMENTS - continued



The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:



SUBSIDIARIES



Commerce Supply and Servicing Ltd


Registered office: 1 Moorside Point, Moorside Road, Winchester, SO23 7RX


Nature of business: Dormant


%


Class of shares:

holding



Ordinary

100.00


2023

2022


£   

£   



Aggregate capital and reserves

2


2





Snows Office Supplies Limited


Registered office: Unit 1 Moorside Point, Moorside Road, Winchester, SO23 7RX


Nature of business: Dormant


%


Class of shares:

holding



Ordinary

100.00



The value of the investment in Snows Office Supplies Limited is £nil (2014: £nil).


5 Star Office Ltd


Registered office: 1 Moorside Point, Moorside Road Winnall, Winchester, Hampshire, United Kingdom, SO23 7RX  


Nature of business: Dormant company


%


Class of shares:

holding



Ordinary

100.00


2023

2022


£   

£   



Aggregate capital and reserves

100


100





Classic Stationers


Registered office: Unit 1 Moorside Point, Moorside Road, Winchester, Hampshire, United Kingdom, SO23 7RX


Nature of business: Dormant company


%


Class of shares:

holding



Ordinary

100.00



31.10.23



£   




Aggregate capital and reserves

100





Solus FS


Registered office: 1 Moorside Point, Moorside Road, Winnall, Winchester, Hampshire, England, SO23 7RX


Nature of business: Office supplies


%


Class of shares:

holding



Ordinary A

100.00



Ordinary G


2023


18.7.22

£   

£   



Aggregate capital and reserves

41,459


1,334




Profit for the period

132,355


3,654





With the exception of the consolidated trading subsidiary, Solus FS Limited, the subsidiaries shown above have not been included in the consolidation as their combined value is not material.



WARRENS OFFICE LTD (REGISTERED NUMBER: 01613232)



NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 DECEMBER 2023


7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR




Group


Company


2023

2022

2023

2022


£   

£   

£   

£   



Trade debtors

824,804


919,351


779,798


798,315




Other debtors

53,489


75,223


49,272


70,256



878,293


994,574


829,070


868,571




8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR




Group


Company


2023

2022

2023

2022


£   

£   

£   

£   



Bank loans and overdrafts

9,915


9,804


9,915


9,804




Hire purchase contracts  (see note 11)

6,893


-


-


-




Trade creditors

824,837


953,504


766,636


888,297




Taxation and social security

161,509


126,594


118,664


72,120




Other creditors

204,954


349,418


194,733


314,031



1,208,108


1,439,320


1,089,948


1,284,252




9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR




Group


Company


2023

2022

2023

2022


£   

£   

£   

£   



Bank loans

19,686


29,797


19,686


29,797




Hire purchase contracts  (see note 11)

4,304


-


-


-



23,990


29,797


19,686


29,797




10.

LEASING AGREEMENTS



Minimum lease payments fall due as follows:



Group


Hire purchase contracts


2023

2022


£   

£   



Net obligations repayable:


Within one year

6,893


-




Between one and five years

4,304


-



11,197


-





Group


Non-cancellable operating

leases


2023

2022


£   

£   



Within one year

61,708


51,000




Between one and five years

140,667


106,500



202,375


157,500





WARRENS OFFICE LTD (REGISTERED NUMBER: 01613232)



NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 30 DECEMBER 2023


10.

LEASING AGREEMENTS - continued



Company


Non-cancellable operating

leases


2023

2022


£   

£   



Within one year

51,000


51,000




Between one and five years

55,500


106,500



106,500


157,500




11.

SECURED DEBTS



The following secured debts are included within creditors:



Group


2023

2022


£   

£   



Hire purchase contracts

11,197


-





There is a fixed and floating charge covering all the property and undertakings of the group.


12.

RELATED PARTY DISCLOSURES



The director has loaned the company £55,000. The loan is repayable on demand and interest-free.


CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR

ON THE UNAUDITED FINANCIAL STATEMENTS OF

WARRENS OFFICE LTD



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 Statement of Comprehensive Income 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 Office Ltd for the year ended 30 December 2023 which comprise the Consolidated Balance Sheet, Company Balance Sheet and the related notes from the company's and the group'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 Office Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Warrens Office Ltd and state those matters that we have agreed to state to the director of Warrens Office Ltd 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 Office Ltd the company and the group and the company's director for our work or for this report.


It is your duty to ensure that Warrens Office Ltd 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 Office Ltd. You consider that Warrens Office Ltd 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 Office Ltd. 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: .............................................