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Registration number: 08259981

Warner Gas Services Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2024

(filleted for filing purposes)

 

Warner Gas Services Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 7

 

Warner Gas Services Ltd

Company Information

Directors

Mrs L A Warner

Mr K L Warner

Company secretary

Mrs L A Warner

Registered office

22 Palm Bay Avenue
Margate
Kent
CT9 3DQ

 

Warner Gas Services Ltd

(Registration number: 08259981)
Balance Sheet as at 31 October 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

10,304

13,621

Current assets

 

Stocks

5

1,327

1,438

Debtors

6

3,853

5,668

Cash at bank and in hand

 

42,694

35,022

 

47,874

42,128

Creditors: Amounts falling due within one year

7

(37,880)

(36,673)

Net current assets

 

9,994

5,455

Total assets less current liabilities

 

20,298

19,076

Creditors: Amounts falling due after more than one year

7

(3,008)

(8,163)

Provisions for liabilities

(2,576)

(3,577)

Net assets

 

14,714

7,336

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

14,614

7,236

Shareholders' funds

 

14,714

7,336

For the financial year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 18 December 2024 and signed on its behalf by:
 

 

Warner Gas Services Ltd

(Registration number: 08259981)
Balance Sheet as at 31 October 2024

.........................................
Mrs L A Warner
Company secretary and director

.........................................
Mr K L Warner
Director

 
     
 

Warner Gas Services Ltd

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

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
22 Palm Bay Avenue
Margate
Kent
CT9 3DQ
England

These financial statements were authorised for issue by the Board on 18 December 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Warner Gas Services Ltd

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

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor vehicles

33% on reducing balance

Plant and machinery

33% on cost

Fixtures and fittings

33% on cost

Office equipment

33% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

 

Warner Gas Services Ltd

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

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 3 (2023 - 3).

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 November 2023

19,129

42,946

62,075

Additions

1,862

-

1,862

At 31 October 2024

20,991

42,946

63,937

Depreciation

At 1 November 2023

18,423

30,031

48,454

Charge for the year

917

4,262

5,179

At 31 October 2024

19,340

34,293

53,633

Carrying amount

At 31 October 2024

1,651

8,653

10,304

At 31 October 2023

706

12,915

13,621

5

Stocks

2024
£

2023
£

Other inventories

1,327

1,438

 

Warner Gas Services Ltd

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

6

Debtors

Current

2024
£

2023
£

Trade debtors

1,739

3,146

Prepayments

2,114

2,522

 

3,853

5,668

7

Creditors

Note

2024
£

2023
£

Due within one year

 

Bank loans and overdrafts

9

5,156

5,000

Trade creditors

 

3,126

6,485

Other related parties

6,754

6,225

Taxation and social security

 

5,689

4,860

Other creditors

 

17,155

14,103

 

37,880

36,673

Due after one year

 

Loans and borrowings

9

3,008

8,163

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

9

Loans and borrowings

2024
£

2023
£

Non-current loans and borrowings

Bank borrowings

3,008

8,163

2024
£

2023
£

Current loans and borrowings

Bank borrowings

5,156

5,000