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REGISTERED NUMBER: 06349483 (England and Wales)























Unaudited Financial Statements

for the Year Ended 31 March 2024

for

J Waring & Sons Ltd

J Waring & Sons Ltd (Registered number: 06349483)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


J Waring & Sons Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr P L Waring
Mr D M Waring





REGISTERED OFFICE: 316 Blackpool Road
Fulwood
PRESTON
Lancashire
PR2 3AE





REGISTERED NUMBER: 06349483 (England and Wales)





ACCOUNTANTS: McDade Roberts Accountants Limited
Chartered Accountants
316 Blackpool Road
Fulwood
Preston
Lancashire
PR2 3AE

J Waring & Sons Ltd (Registered number: 06349483)

Statement of Financial Position
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 102,926 128,656

CURRENT ASSETS
Stocks 820,590 1,052,544
Debtors 5 874,863 836,206
Cash at bank 128,307 505,201
1,823,760 2,393,951
CREDITORS
Amounts falling due within one year 6 847,474 1,344,046
NET CURRENT ASSETS 976,286 1,049,905
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,079,212

1,178,561

CREDITORS
Amounts falling due after more than one
year

7

(56,000

)

(104,000

)

PROVISIONS FOR LIABILITIES (19,490 ) (24,364 )
NET ASSETS 1,003,722 1,050,197

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 1,002,722 1,049,197
SHAREHOLDERS' FUNDS 1,003,722 1,050,197

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

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

J Waring & Sons Ltd (Registered number: 06349483)

Statement of Financial Position - continued
31 March 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 13 November 2024 and were signed on its behalf by:





Mr P L Waring - Director


J Waring & Sons Ltd (Registered number: 06349483)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

J Waring & Sons 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.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - 33% on cost

Stocks
Work in progress is valued on the basis of direct costs plus attributable overheads based on normal levels of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 15 ) .

J Waring & Sons Ltd (Registered number: 06349483)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023
and 31 March 2024 324,295 300 176,129 6,688 507,412
DEPRECIATION
At 1 April 2023 250,084 300 121,684 6,688 378,756
Charge for year 14,842 - 10,888 - 25,730
At 31 March 2024 264,926 300 132,572 6,688 404,486
NET BOOK VALUE
At 31 March 2024 59,369 - 43,557 - 102,926
At 31 March 2023 74,211 - 54,445 - 128,656


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 364,807 245,050
Other debtors 510,056 591,156
874,863 836,206

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 48,000 48,000
Hire purchase contracts - 3,979
Trade creditors 175,606 1,132,357
Taxation and social security 40,074 26,519
Other creditors 583,794 133,191
847,474 1,344,046

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 56,000 104,000

J Waring & Sons Ltd (Registered number: 06349483)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


8. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 104,000 152,000
Hire purchase contracts - 3,979
104,000 155,979

The UK Government have provided an 80% guarantee on the Coronavirus Business Interruption Loan Scheme (CBILS), borrowings obtained from Yorkshire Bank. Hire purchase liabilities were secured on the assets subjected to the contract.

9. RELATED PARTY DISCLOSURES

The company paid rent of £30,000 (2023-£30,000)to Waring & Co Limited, a company in which the directors are also directors, during the year.

Entities under common control owed £510,056 (2023-£438,056) to the company at the year end.

Trade debtors included £268,122 money due from entities under common control.