Company registration number 10698503 (England and Wales)
WARRENS TIMBER LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
Century House
Wargrave Road
Henley-on-Thames
Oxfordshire
United Kingdom
RG9 2LT
WARRENS TIMBER LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 6
WARRENS TIMBER LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr. A. Warren
Ms. N. Aubrey
Mr. J. Warren
Company number
10698503
Registered office
265 Sandbanks Road
Poole
Dorset
United Kingdom
BH14 8EY
Accountants
Verallo
Century House
Wargrave Road
Henley-on-Thames
Oxfordshire
United Kingdom
RG9 2LT
WARRENS TIMBER LIMITED
BALANCE SHEET
AS AT 30 JUNE 2024
30 June 2024
- 2 -
30 June 2024
31 December 2022
Notes
£
£
£
£
Fixed assets
Investments
3
3,015,000
3,015,000
Current assets
Debtors
4
124,392
-
0
Creditors: amounts falling due within one year
5
(656,555)
(653,477)
Net current liabilities
(532,163)
(653,477)
Net assets
2,482,837
2,361,523
Capital and reserves
Called up share capital
6
200
200
Profit and loss reserves
2,482,637
2,361,323
Total equity
2,482,837
2,361,523
WARRENS TIMBER LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024
30 June 2024
- 3 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 24 January 2025 and are signed on its behalf by:
Mr. A. Warren
Ms. N. Aubrey
Director
Director
Mr. J. Warren
Director
Company registration number 10698503 (England and Wales)

The notes on pages 4 to 6 form part of these financial statements

 

WARRENS TIMBER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2024
- 4 -
1
Accounting policies
Company information

Warrens Timber Limited is a private company limited by shares incorporated in England and Wales. The registered office is 265 Sandbanks Road, Poole, Dorset, United Kingdom, BH14 8EY.

1.1
Reporting period

The company has prepared financial statements for a period greater than one year to align the financial year end with group companies. Therefore, the figures are not entirely comparable.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.3
Going concern

At the balance sheet date the company's truecurrent liabilities exceeded its current assets. The day to day operation of the company is dependent upon support from its directors and lenders. On the assumption that such support will continue to be forthcoming, the directors consider it appropriate to prepare the financial statements on a going concern basis.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

WARRENS TIMBER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 5 -
1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

WARRENS TIMBER LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 JUNE 2024
- 6 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2024
2022
Number
Number
Total
-
0
-
0
3
Fixed asset investments
2024
2022
£
£
Shares in group undertakings and participating interests
3,015,000
3,015,000
4
Debtors
2024
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
124,392
-
0
5
Creditors: amounts falling due within one year
2024
2022
£
£
Other creditors
654,815
651,815
Accruals and deferred income
1,740
1,662
656,555
653,477
6
Called up share capital
2024
2022
2024
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of £1 each
70
70
70
70
Ordinary B shares of £1 each
70
70
70
70
Ordinary C shares of £1 each
30
30
30
30
Ordinary D shares of £1 each
30
30
30
30
200
200
200
200
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