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REGISTERED NUMBER: 03114989















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024

FOR

WARING ENGINEERING LIMITED

WARING ENGINEERING LIMITED (REGISTERED NUMBER: 03114989)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WARING ENGINEERING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: Mr R Waring
Mrs J L Waring



SECRETARY: Mrs J L Waring



REGISTERED OFFICE: Unit F2, Field Industrial Estate,
Lowmoor Road,
Kirkby in Ashfield
Nottinghamshire
NG17 7LJ



REGISTERED NUMBER: 03114989



ACCOUNTANTS: Anderson & Co
18 Diamond Avenue
Kirkby in Ashfield
Nottinghamshire
NG17 7GR



BANKERS: National Westminster Plc
Sutton & Kirkby Branch
Portland Square
Sutton in Ashfield
Nottinghamshire
NG17 1BA

WARING ENGINEERING LIMITED (REGISTERED NUMBER: 03114989)

BALANCE SHEET
31 JANUARY 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 135,400 115,530

CURRENT ASSETS
Stocks 18,200 39,500
Debtors 5 259,336 286,849
Cash at bank 125,577 100,582
403,113 426,931
CREDITORS
Amounts falling due within one year 6 119,252 197,990
NET CURRENT ASSETS 283,861 228,941
TOTAL ASSETS LESS CURRENT
LIABILITIES

419,261

344,471

PROVISIONS FOR LIABILITIES 24,265 6,441
NET ASSETS 394,996 338,030

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 394,896 337,930
SHAREHOLDERS' FUNDS 394,996 338,030

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

WARING ENGINEERING LIMITED (REGISTERED NUMBER: 03114989)

BALANCE SHEET - continued
31 JANUARY 2024


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 31 October 2024 and were signed on its behalf by:





Mr R Waring - Director


WARING ENGINEERING LIMITED (REGISTERED NUMBER: 03114989)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Waring Engineering Limited is a private company, limited by shares , registered in Not specified/Other. 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.
Plant and machinery - 15% on reducing balance
Office equipment & fittings - 33% on reducing balance and 15% on reducing balance
Motor vehicles - 25% 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.

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.

WARING ENGINEERING LIMITED (REGISTERED NUMBER: 03114989)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 13 ) .

4. TANGIBLE FIXED ASSETS
Office
Plant and equipment Motor
machinery & fittings vehicles Totals
£    £    £    £   
COST
At 1 February 2023 493,477 63,914 31,060 588,451
Additions 14,000 84 25,100 39,184
Disposals - - (10,990 ) (10,990 )
At 31 January 2024 507,477 63,998 45,170 616,645
DEPRECIATION
At 1 February 2023 387,622 60,514 24,785 472,921
Charge for year 11,955 984 6,275 19,214
Eliminated on disposal - - (10,890 ) (10,890 )
At 31 January 2024 399,577 61,498 20,170 481,245
NET BOOK VALUE
At 31 January 2024 107,900 2,500 25,000 135,400
At 31 January 2023 105,855 3,400 6,275 115,530

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 202,028 229,497
Prepayments 57,308 57,352
259,336 286,849

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 2,332 3,145
Trade creditors 39,230 146,558
PAYE & national insurance 10,514 6,105
Value added tax 43,195 25,500
Directors' current accounts 8,503 4,523
Accruals 15,478 12,159
119,252 197,990

7. ULTIMATE CONTROLLING PARTY

The controlling party is Mr R Waring.

The ultimate controlling party is Mr R Waring.