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Registered number: 03236043










ALAN WARWICK LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 6 SEPTEMBER 2024

 
ALAN WARWICK LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 9


 
ALAN WARWICK LIMITED
REGISTERED NUMBER: 03236043

BALANCE SHEET
AS AT 6 SEPTEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 5 
437,216
319,527

Current assets
  

Stocks
  
288,502
314,742

Debtors
 6 
445,326
467,506

Cash at bank and in hand
  
398,461
207,832

  
1,132,289
990,080

Creditors: amounts falling due within one year
 7 
(554,904)
(524,578)

Net current assets
  
 
 
577,385
 
 
465,502

Total assets less current liabilities
  
1,014,601
785,029

Creditors: amounts falling due after more than one year
 8 
(17,738)
(17,500)

Provisions for liabilities
  

Deferred tax
  
(72,626)
(35,053)

Net assets
  
924,237
732,476


Capital and reserves
  

Called up share capital 
  
30,000
30,000

Profit and loss account
  
894,237
702,476

  
924,237
732,476


Page 1

 
ALAN WARWICK LIMITED
REGISTERED NUMBER: 03236043
    
BALANCE SHEET (CONTINUED)
AS AT 6 SEPTEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 9 January 2025.



A.W. Whelan
M.J. Coyne
Director
Director

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
ALAN WARWICK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 6 SEPTEMBER 2024

1.


General information

Alan Warwick Limited (the company) is a private company limited by shares, incorporated and domiciled in England. The registered office and principal place of business is 85 Stafford Street, Willenhall, West Midlands WV13 1RT.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in Sterling (£).

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is measured as the fair value of the consideration received net of VAT. Turnover from the sale of goods is recognised on supply of those goods.

 
2.3

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
ALAN WARWICK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 6 SEPTEMBER 2024

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
2% on a straight line basis following year of acquisition
Short term leasehold property
-
written off in equal instalments over the period of the lease from the date of acquisition.
Plant and machinery
-
10% on a straight line basis
Motor vehicles
-
25% on a reducing balance basis
Fixtures and fittings
-
10% on a straight line basis
Computer equipment
-
33 1/3% on a straight line basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value. Cost is based on the cost of purchase on a first in, first out basis.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.

Page 4

 
ALAN WARWICK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 6 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.10

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.11

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.12

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the balance sheet and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the balance sheet.

 
2.13

Current and deferred taxation

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

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 5

 
ALAN WARWICK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 6 SEPTEMBER 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 61 (2023 - 58).


4.


Intangible assets




Goodwill

£



Cost


At 7 September 2023
226,609



At 6 September 2024

226,609



Amortisation


At 7 September 2023
226,609



At 6 September 2024

226,609



Net book value



At 6 September 2024
-



At 6 September 2023
-



Page 6

 
ALAN WARWICK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 6 SEPTEMBER 2024

5.


Tangible fixed assets





Land and buildings
Other fixed assets
Total

£
£
£



Cost


At 7 September 2023
215,953
974,430
1,190,383


Additions
-
224,343
224,343


Disposals
(1,691)
(135,383)
(137,074)



At 6 September 2024

214,262
1,063,390
1,277,652



Depreciation


At 7 September 2023
66,464
804,392
870,856


Charge for the year on owned assets
2,776
59,945
62,721


Charge for the year on financed assets
-
237
237


Disposals
(1,691)
(91,687)
(93,378)



At 6 September 2024

67,549
772,887
840,436



Net book value



At 6 September 2024
146,713
290,503
437,216



At 6 September 2023
149,489
170,038
319,527

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Motor vehicles
22,513
2,407

Page 7

 
ALAN WARWICK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 6 SEPTEMBER 2024

6.


Debtors


2024
2023
£
£

Due after more than one year

Amounts owed by group undertakings
241,613
241,613

Due within one year

Trade debtors
4,909
6,201

Other debtors
172,328
194,325

Prepayments and accrued income
26,476
25,367

445,326
467,506



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,000
10,000

Payments received on account
6,700
13,400

Trade creditors
314,946
251,586

Corporation tax
67,271
56,329

Other taxation and social security
16,383
15,477

Obligations under  hire purchase contracts - secured on related assets
10,238
2,515

Other creditors
866
681

Accruals and deferred income
128,500
174,590

554,904
524,578



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
7,500
17,500

Obligations under  hire purchase contracts - secured on related assets
10,238
-

17,738
17,500


Page 8

 
ALAN WARWICK LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 6 SEPTEMBER 2024

9.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £115,381 (2023: £157,622). Contributions totalling £866 (2023: £681) were payable to the fund at the balance sheet date and are included in creditors.


10.


Commitments under operating leases

At 6 September 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
80,813
77,646

Later than 1 year and not later than 5 years
109,600
113,050

190,413
190,696


11.


Directors' benefits: advances, credit and guarantees

Included in debtors is a loan from the company to a director of £60,000 (2023: £60,000). Payments totalling £Nil were made in the year (2023: £Nil) and repayments totalling £Nil (2023: £Nil) were made in the year. The maximum amount outstanding at any point during the year was £60,000 (2023: £60,000). The loan is unsecured, interest-free and repayable on demand.        
Also included in debtors is a loan from the company to another director of £60,000 (2023: £85,000). Payments totalling £Nil were made in the year (2023: £25,000) and repayments totalling £25,000 (2023: £Nil) were made in the year. The maximum amount outstanding at any point during the year was £85,000 (2023: £85,000). The loan is unsecured, interest-free and repayable on demand. 


12.


Post balance sheet events

Subsequent to the year end, the directors are pleased to report completion on the purchase of an additional store as a going concern. The new store will bring additional revenues to the group and wider business opportunities. The consideration paid for the business was £200,000 and the staff have transferred across with the store. Further details of the assets acquired and consideration paid will be disclosed in the 2025 financial statements.


13.


Ultimate parent undertaking

The company is a wholly owned subsidiary of Milegrain Limited, incorporated in England.

 
Page 9