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REGISTERED NUMBER: 13024526 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

WARM STORM LTD

WARM STORM LTD (REGISTERED NUMBER: 13024526)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WARM STORM LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: Mr J P Carney



REGISTERED OFFICE: 14a Gladstone Terrace
London



REGISTERED NUMBER: 13024526 (England and Wales)



ACCOUNTANTS: Marsland Nash Associates
Chartered Tax Advisers, Accountants
and Business Consultants
Vantage Point House
Silverhills Road
Decoy Industrial Estate
Newton Abbot
Devon
TQ12 5ND



BANKERS: Natwest

WARM STORM LTD (REGISTERED NUMBER: 13024526)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 131,734 111,866

CURRENT ASSETS
Debtors 5 213,820 129,476
Cash at bank 97 186
213,917 129,662
CREDITORS
Amounts falling due within one year 6 291,342 272,309
NET CURRENT LIABILITIES (77,425 ) (142,647 )
TOTAL ASSETS LESS CURRENT LIABILITIES 54,309 (30,781 )

CREDITORS
Amounts falling due after more than one
year

7

39,219

68,058
NET ASSETS/(LIABILITIES) 15,090 (98,839 )

CAPITAL AND RESERVES
Called up share capital 100 100
Capital redemption reserve 200 200
Retained earnings 14,790 (99,139 )
SHAREHOLDERS' FUNDS 10 15,090 (98,839 )

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

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

WARM STORM LTD (REGISTERED NUMBER: 13024526)

BALANCE SHEET - continued
31 DECEMBER 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 February 2024 and were signed by:





Mr J P Carney - Director


WARM STORM LTD (REGISTERED NUMBER: 13024526)

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


1. STATUTORY INFORMATION

Warm Storm 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 Company Information page.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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
Computer equipment - 25% on cost

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

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 4 ) .

WARM STORM LTD (REGISTERED NUMBER: 13024526)

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


4. TANGIBLE FIXED ASSETS
Fixtures
Short and Computer
leasehold fittings equipment Totals
£    £    £    £   
COST
At 1 January 2023 7,250 19,457 117,438 144,145
Additions 51,933 278 3,875 56,086
Disposals - (3,958 ) - (3,958 )
At 31 December 2023 59,183 15,777 121,313 196,273
DEPRECIATION
At 1 January 2023 - 2,919 29,360 32,279
Charge for year - 1,931 30,329 32,260
At 31 December 2023 - 4,850 59,689 64,539
NET BOOK VALUE
At 31 December 2023 59,183 10,927 61,624 131,734
At 31 December 2022 7,250 16,538 88,078 111,866

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 187,564 79,248
Other debtors 180 110
Tax - 35,699
Deferred tax asset
Accelerated capital allowances 19,226 14,315
Prepayments 6,850 104
213,820 129,476

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 43,376 45,466
Trade creditors 49,074 49,227
Social security and other taxes 28,446 25,982
VAT 70,371 20,389
Other creditors 23,912 18,813
Directors' current accounts 27,635 107,099
Deferred income 46,400 -
Accrued expenses 2,128 5,333
291,342 272,309

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Amounts owed to participating interests 39,219 68,058

WARM STORM LTD (REGISTERED NUMBER: 13024526)

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


8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
Mr J P Carney
Balance outstanding at start of year (107,099 ) (26,556 )
Amounts advanced 118,597 59,421
Amounts repaid (39,133 ) (139,964 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (27,635 ) (107,099 )

Loans are unsecured, interest free & repayable on demand.

9. RELATED PARTY DISCLOSURES

During the year a loan balance of £6818 from 'The Carney Company Ltd' which has the same shareholder 'Mr J Carney' was written off.
The loan was interest free and repayable on demand.

A loan from 'Insense Ad's US' which has the same shareholder 'Mr J Carney' had an opening balance of £58,054 with repayments in the year of £18,835 leaving a balance of £39,219 at the year end.
The loan is interest free and repayable on demand.

10. RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS
2023 2022
£    £   
Profit for the financial year 113,929 113,816
Payments to acquire own shares - (31,900 )
Opening shareholder funds - (180,755 )
Net addition/(reduction) to shareholders' funds 113,929 (98,839 )
Opening shareholders' funds (98,839 ) -
Closing shareholders' funds 15,090 (98,839 )