IRIS Accounts Production v24.1.4.33 12024016 Board of Directors 1.1.23 31.12.23 31.12.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh120240162022-12-31120240162023-12-31120240162023-01-012023-12-31120240162021-12-31120240162022-01-012022-12-31120240162022-12-3112024016ns15:EnglandWales2023-01-012023-12-3112024016ns14:PoundSterling2023-01-012023-12-3112024016ns10:Director12023-01-012023-12-3112024016ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3112024016ns10:SmallEntities2023-01-012023-12-3112024016ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3112024016ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3112024016ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3112024016ns10:FullAccounts2023-01-012023-12-311202401612023-01-012023-12-3112024016ns10:Director22023-01-012023-12-3112024016ns10:RegisteredOffice2023-01-012023-12-3112024016ns5:CurrentFinancialInstruments2023-12-3112024016ns5:CurrentFinancialInstruments2022-12-3112024016ns5:ShareCapital2023-12-3112024016ns5:ShareCapital2022-12-3112024016ns5:RetainedEarningsAccumulatedLosses2023-12-3112024016ns5:RetainedEarningsAccumulatedLosses2022-12-3112024016ns5:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3112024016ns5:PatentsTrademarksLicencesConcessionsSimilar2023-01-012023-12-3112024016ns5:ComputerSoftware2023-01-012023-12-3112024016ns5:PatentsTrademarksLicencesConcessionsSimilar2022-12-3112024016ns5:ComputerSoftware2022-12-3112024016ns5:PatentsTrademarksLicencesConcessionsSimilar2023-12-3112024016ns5:ComputerSoftware2023-12-3112024016ns5:PatentsTrademarksLicencesConcessionsSimilar2022-12-3112024016ns5:ComputerSoftware2022-12-3112024016ns5:PlantMachinery2022-12-3112024016ns5:PlantMachinery2023-01-012023-12-3112024016ns5:PlantMachinery2023-12-3112024016ns5:PlantMachinery2022-12-3112024016ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3112024016ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-31
REGISTERED NUMBER: 12024016 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

WARNER (1870) LIMITED

WARNER (1870) LIMITED (REGISTERED NUMBER: 12024016)






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


WARNER (1870) LIMITED

COMPANY INFORMATION
for the Year Ended 31 December 2023







DIRECTORS: Mrs E J Clarke
L Clarke





REGISTERED OFFICE: The Church
Mobberley Road
Morley Green
Wilmslow
SK9 5NT





REGISTERED NUMBER: 12024016 (England and Wales)





ACCOUNTANTS: Fairhurst
Chartered Accountants
Douglas Bank House
Wigan Lane
Wigan
Lancashire
WN1 2TB

WARNER (1870) LIMITED (REGISTERED NUMBER: 12024016)

BALANCE SHEET
31 December 2023

2023 2022
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 276,544 319,820
Tangible assets 5 62,001 67,167
338,545 386,987

CURRENT ASSETS
Stocks 869,228 838,546
Debtors 6 94,817 64,968
Cash at bank and in hand 19,092 88,184
983,137 991,698
CREDITORS
Amounts falling due within one year 7 2,998,257 3,019,891
NET CURRENT LIABILITIES (2,015,120 ) (2,028,193 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(1,676,575

)

(1,641,206

)

CAPITAL AND RESERVES
Called up share capital 520,001 300,001
Retained earnings (2,196,576 ) (1,941,207 )
SHAREHOLDERS' FUNDS (1,676,575 ) (1,641,206 )

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 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.

WARNER (1870) LIMITED (REGISTERED NUMBER: 12024016)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 September 2024 and were signed on its behalf by:





L Clarke - Director


WARNER (1870) LIMITED (REGISTERED NUMBER: 12024016)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Warner (1870) 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.

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 is dependent on the continuing support, both financial and management, of it's directors and shareholders, who have confirmed their intention to do so for the coming 12 months.

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

Turnover represents the net invoice value of goods and services provided.

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.

Patents and licences
Patents and licences are amortised evenly over a period of 10 years.

Computer software
Website development costs are amortised evenly over a period of 10 years.

Tangible fixed assets
Tangible fixed assets are included at cost or valuation less depreciation and impairment.

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.

Computer Equipment-20% straight line
Plant & Machinery-25% reducing balance
Fixtures & Fittings-25% reducing balance
Motor Vehicles-25% reducing balance
Improvements to property - 10% straight line

Impairment of assets
At each reporting date assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the profit and loss.

Where an impairment loss subsequently reverses, the carrying amount of each asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined (net of depreciation) had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.

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

WARNER (1870) LIMITED (REGISTERED NUMBER: 12024016)

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

2. ACCOUNTING POLICIES - continued

Financial instruments
Trade and other debtors are initially recognised at the transaction price and thereafter stated at amortised cost using 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.

Short term trade creditors are measured at transaction price. Financial liabilities that have no stated interest rate and are payable within one year shall be measured at the undiscounted amount due.

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 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 12 (2022 - 10 ) .

WARNER (1870) LIMITED (REGISTERED NUMBER: 12024016)

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

4. INTANGIBLE FIXED ASSETS
Patents
and Computer
licences software Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 146,700 286,061 432,761
AMORTISATION
At 1 January 2023 58,680 54,261 112,941
Amortisation for year 14,670 28,606 43,276
At 31 December 2023 73,350 82,867 156,217
NET BOOK VALUE
At 31 December 2023 73,350 203,194 276,544
At 31 December 2022 88,020 231,800 319,820

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 153,802
Additions 10,948
At 31 December 2023 164,750
DEPRECIATION
At 1 January 2023 86,635
Charge for year 16,114
At 31 December 2023 102,749
NET BOOK VALUE
At 31 December 2023 62,001
At 31 December 2022 67,167

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Trade debtors 38,898 3,861
Amounts owed by related undertakings 16,453 27,321
Other debtors 39,466 33,786
94,817 64,968

WARNER (1870) LIMITED (REGISTERED NUMBER: 12024016)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Trade creditors 97,119 198,065
Taxation and social security 47,030 19,997
Other creditors 2,854,108 2,801,829
2,998,257 3,019,891

8. OTHER FINANCIAL COMMITMENTS

The company has operating lease commitments amounting to £30,000 (2022: £45,000).

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Included in Other creditors is £2,590,887 (2022: £2,550,887) due to a director.