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Registration number: 06880361

Warrior Assault Systems Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Warrior Assault Systems Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 13

 

Warrior Assault Systems Limited

Company Information

Directors

M L Baxtrem

M D Dexter

Company secretary

R Dexter

Registered office

Stockton Business Centre, Barkess & Co
70-74 Brunswick Street
Stockton on Tees
TS18 1DW

Solicitors

Merritt & Co
The Manor House
83 High Street
Yarm
TS15 9BG

Accountants

Barkess & Co
Stockton Business Centre
70-74 Brunswick Street
Stockton on Tees
TS18 1DW

 

Warrior Assault Systems Limited

(Registration number: 06880361)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

69,917

81,261

Investments

5

2

2

 

69,919

81,263

Current assets

 

Stocks

6

1,363,621

1,083,018

Debtors

7

1,493,985

1,719,324

Cash at bank and in hand

 

37,501

207,890

 

2,895,107

3,010,232

Creditors: Amounts falling due within one year

8

(1,553,679)

(1,712,762)

Net current assets

 

1,341,428

1,297,470

Total assets less current liabilities

 

1,411,347

1,378,733

Creditors: Amounts falling due after more than one year

8

(156,709)

(156,709)

Provisions for liabilities

(17,479)

(20,315)

Net assets

 

1,237,159

1,201,709

Capital and reserves

 

Called up share capital

9

10

10

Retained earnings

1,237,149

1,201,699

Shareholders' funds

 

1,237,159

1,201,709

For the financial year ending 30 April 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.

 

Warrior Assault Systems Limited

(Registration number: 06880361)
Balance Sheet as at 30 April 2024

Approved and authorised by the Board on 29 January 2025 and signed on its behalf by:
 

.........................................
M D Dexter
Director

 

Warrior Assault Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

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

The address of its registered office is:
Stockton Business Centre, Barkess & Co
70-74 Brunswick Street
Stockton on Tees
TS18 1DW
England

The principal place of business is:
Unit 2D
9 Opus Park
Lockheed Avenue
Preston Farm Industrial Estate
Stockton-on-Tees
TS18 3BP

These financial statements were authorised for issue by the Board on 29 January 2025.

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

 

Warrior Assault Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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.

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

Fixtures & fittings

15% reducing balance

Office equipment

25% reducing balance

Leasehold Improvements

10 year straight line

Plant & machinery

25% reducing balance

 

Warrior Assault Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the weighted average 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. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Warrior Assault Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 15 (2023 - 15).

 

Warrior Assault Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 May 2023

75,448

106,307

181,755

Additions

(1,933)

9,733

7,800

At 30 April 2024

73,515

116,040

189,555

Depreciation

At 1 May 2023

45,548

54,946

100,494

Charge for the year

7,544

11,600

19,144

At 30 April 2024

53,092

66,546

119,638

Carrying amount

At 30 April 2024

20,423

49,494

69,917

At 30 April 2023

29,900

51,361

81,261

Included within the net book value of land and buildings above is £20,423 (2023 - £29,900) in respect of short leasehold land and buildings.
 

5

Investments

2024
£

2023
£

Investments in subsidiaries

2

2

Subsidiaries

£

Cost or valuation

At 1 May 2023

2

Provision

Carrying amount

At 30 April 2024

2

At 30 April 2023

2

 

Warrior Assault Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

MBH Property Limited

Stockton Business Centre, Barkess & Co
70-74 Brunswick Street
Stockton on Tees, TS18 1DW

England

Ordinary Shares

100%

100%

Subsidiary undertakings

MBH Property Limited

The principal activity of MBH Property Limited is property lettings.

6

Stocks

2024
£

2023
£

Raw materials and consumables

517,082

441,189

Other inventories

846,539

641,829

1,363,621

1,083,018

7

Debtors

Current

Note

2024
£

2023
£

Trade debtors

 

41,611

132,351

Amounts owed by related parties

12

331,813

261,000

Prepayments

 

651,326

677,103

Other debtors

 

469,235

648,870

   

1,493,985

1,719,324

 

Warrior Assault Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10

828,199

1,025,637

Trade creditors

 

472,864

425,100

Taxation and social security

 

225,719

251,509

Accruals and deferred income

 

25,730

9,480

Other creditors

 

1,167

1,036

 

1,553,679

1,712,762

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

156,709

156,709

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

10

10

10

10

       

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

156,709

156,709

Current loans and borrowings

 

Warrior Assault Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

2024
£

2023
£

Bank overdrafts

2,182

-

Other borrowings

826,017

1,025,637

828,199

1,025,637

11

Dividends

2024

2023

£

£

Interim dividend of £12,500.00 (2023 - £12,500.00) per ordinary share

125,000

100,000

 

 

12

Related party transactions

Transactions with directors

2024

At 1 May 2023
£

Advances to director
£

Repayments by director
£

At 30 April 2024
£

M L Baxtrem

Current account (interest charged at 2.5% pa with effect from 01/04/2023)

216,818

24,996

(62,500)

179,314

M D Dexter

Current account, (interest charged at 2.5% pa with effect from 01/04/2023)

216,818

9,399

(62,500)

163,717

2023

At 1 May 2022
£

Advances to director
£

Repayments by director
£

At 30 April 2023
£

M L Baxtrem

Current account (interest charged at 2.5% pa with effect from 01/04/2023)

6,217

248,101

(37,500)

216,818

M D Dexter

Current account, (interest charged at 2.5% pa with effect from 01/04/2023)

5,421

248,897

(37,500)

216,818

 

Warrior Assault Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

22,596

22,991

Contributions paid to money purchase schemes

194

194

22,790

23,185

Dividends paid to directors

2024
£

2023
£

M L Baxtrem

Interim dividend

37,500

37,500

 

 

M D Dexter

Interim Dividend

37,500

37,500

 

 

Summary of transactions with subsidiaries

Summary of transactions with other related parties

Support Logistics (Europe) is a private limited company registered in England and Wales that has common ownership and control to that of Warrior Assault Systems Limited.
 

Income and receivables from related parties

2024

Other related parties
£

Sale of goods

1,640,304

2023

Other related parties
£

Sale of goods

1,504,866

Expenditure with and payables to related parties

 

Warrior Assault Systems Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

2024

Other related parties
£

Purchase of goods

46,857

2023

Other related parties
£

Purchase of goods

44,626

Loans to related parties

2024

Subsidiary
£

Total
£

At start of period

261,000

261,000

At end of period

261,000

261,000

2023

Subsidiary
£

Total
£

At start of period

100,000

100,000

Advanced

161,000

161,000

At end of period

261,000

261,000

Loans from related parties

2024

Other related parties
£

Total
£

At start of period

953,236

953,236

Repaid

(199,620)

(199,620)

At end of period

753,616

753,616

2023

Other related parties
£

Total
£

At start of period

54,712

54,712

Advanced

1,146,603

1,146,603

Repaid

(248,079)

(248,079)

At end of period

953,236

953,236

Terms of loans from related parties

Interest free current account repayable upon demand