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REGISTERED NUMBER: SC230346 (Scotland)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

WARRINGTON PROPERTY MAINTENANCE LIMITED

WARRINGTON PROPERTY MAINTENANCE LIMITED (REGISTERED NUMBER: SC230346)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WARRINGTON PROPERTY MAINTENANCE LIMITED

COMPANY INFORMATION
for the year ended 30 September 2023







DIRECTORS: W Warrington
D Warrington
C Warrington
A Warrington





SECRETARY: D Warrington





REGISTERED OFFICE: Eadgyth House
1a Sibbalds Brae
Bathgate
West Lothian
EH48 2DU





REGISTERED NUMBER: SC230346 (Scotland)





ACCOUNTANTS: Haines Watts
Business Advisors and Accountants
Q Court
3 Quality Street
Edinburgh
EH4 5BP

WARRINGTON PROPERTY MAINTENANCE LIMITED (REGISTERED NUMBER: SC230346)

BALANCE SHEET
30 September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 81,889 96,818
Investment property 5 1,654,112 1,654,112
1,736,001 1,750,930

CURRENT ASSETS
Debtors 6 269,264 286,973
Cash at bank and in hand 91,503 100
360,767 287,073
CREDITORS
Amounts falling due within one year 7 274,692 758,484
NET CURRENT ASSETS/(LIABILITIES) 86,075 (471,411 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,822,076

1,279,519

CREDITORS
Amounts falling due after more than one
year

8

(480,987

)

(40,711

)

PROVISIONS FOR LIABILITIES 11 (183,417 ) (185,800 )
NET ASSETS 1,157,672 1,053,008

CAPITAL AND RESERVES
Called up share capital 100 100
Non distributable reserve 643,739 643,739
Retained earnings 513,833 409,169
1,157,672 1,053,008

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

WARRINGTON PROPERTY MAINTENANCE LIMITED (REGISTERED NUMBER: SC230346)

BALANCE SHEET - continued
30 September 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 September 2024 and were signed on its behalf by:





D Warrington - Director


WARRINGTON PROPERTY MAINTENANCE LIMITED (REGISTERED NUMBER: SC230346)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 September 2023

1. STATUTORY INFORMATION

Warrington Property Maintenance Limited is a private company, limited by shares , registered in Scotland. 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 as modified by the revaluation of certain assets.

At 30 September 2023 the company had net current assets of £86,075 (2022 net current liabilities - £471,411) and relies on the continued support of the directors, shareholders and lenders to finance its day to day working capital requirements. The directors consider it appropriate to prepare the financial statements on the going concern basis as they expect that this support will continue for the foreseeable future.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding value added tax, for the provision of property maintenance services.

Other income represents rents received during the year and government grants.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% per annum reducing balance
Motor vehicles - 20% per annum reducing balance
Computer equipment - 33% per annum on cost

The carrying values of tangible fixed assets are reviewed for impairment on an annual basis.

INVESTMENT PROPERTY
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

WARRINGTON PROPERTY MAINTENANCE LIMITED (REGISTERED NUMBER: SC230346)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2023

2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

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.

WARRINGTON PROPERTY MAINTENANCE LIMITED (REGISTERED NUMBER: SC230346)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 13 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 October 2022 289,514 415,609 7,704 712,827
Additions 4,551 - 1,497 6,048
At 30 September 2023 294,065 415,609 9,201 718,875
DEPRECIATION
At 1 October 2022 258,048 350,648 7,313 616,009
Charge for year 7,126 12,992 859 20,977
At 30 September 2023 265,174 363,640 8,172 636,986
NET BOOK VALUE
At 30 September 2023 28,891 51,969 1,029 81,889
At 30 September 2022 31,466 64,961 391 96,818

Tangible fixed assets with a carrying value of £81,889 (2022: £96,818) have been pledged as security for the company's debt.

WARRINGTON PROPERTY MAINTENANCE LIMITED (REGISTERED NUMBER: SC230346)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2023

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 October 2022
and 30 September 2023 43,241
DEPRECIATION
At 1 October 2022 14,436
Charge for year 5,760
At 30 September 2023 20,196
NET BOOK VALUE
At 30 September 2023 23,045
At 30 September 2022 28,805

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2022
and 30 September 2023 1,654,112
NET BOOK VALUE
At 30 September 2023 1,654,112
At 30 September 2022 1,654,112

Fair value at 30 September 2023 is represented by:
£   
Valuation in 2018 336,858
Valuation in 2022 480,000
Cost 837,254
1,654,112

Investment property was valued on an open market basis on 22 June 2022 by DM Hall .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 147,684 240,679
Other debtors 121,580 46,294
269,264 286,973

WARRINGTON PROPERTY MAINTENANCE LIMITED (REGISTERED NUMBER: SC230346)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 59,405 615,264
Hire purchase contracts (see note 9) 6,966 14,882
Trade creditors 94,710 59,043
Taxation and social security 88,168 27,663
Other creditors 25,443 41,632
274,692 758,484

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 477,127 29,922
Hire purchase contracts (see note 9) 3,860 10,789
480,987 40,711

9. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2023 2022
£    £   
Net obligations repayable:
Within one year 6,966 14,882
Between one and five years 3,860 10,789
10,826 25,671

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdraft - 72,569
Bank loans 536,532 572,617
Hire purchase contracts 10,826 25,671
547,358 670,857

The Royal Bank of Scotland holds various standard securities and floating charge over the assets of the company.

WARRINGTON PROPERTY MAINTENANCE LIMITED (REGISTERED NUMBER: SC230346)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 September 2023

11. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 13,492 15,875
Investment property
revaluation 169,925 169,925
183,417 185,800

Deferred
tax
£   
Balance at 1 October 2022 185,800
Credit to Income Statement during year (2,383 )
Balance at 30 September 2023 183,417

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2023 and 30 September 2022:

2023 2022
£    £   
W Warrington
Balance outstanding at start of year 21,630 (2,848 )
Amounts advanced 40,972 24,478
Amounts repaid (20,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 42,602 21,630

D Warrington
Balance outstanding at start of year (9,618 ) (5,172 )
Amounts advanced 176,118 41,945
Amounts repaid (150,090 ) (46,391 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 16,410 (9,618 )

C Warrington
Balance outstanding at start of year (18,789 ) (70,288 )
Amounts advanced 62,500 51,499
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 43,711 (18,789 )

Interest of 2.25% is charged on overdrawn directors' balances where the loan has exceeded £10,000.