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REGISTERED NUMBER: 04700822 (England and Wales)















Unaudited Financial Statements For The Year Ended 30 June 2024

for

MENDICK WARING LIMITED

MENDICK WARING LIMITED (Registered number: 04700822)






Contents of the Financial Statements
For The Year Ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


MENDICK WARING LIMITED

Company Information
For The Year Ended 30 June 2024







DIRECTORS: L Marras
M Theofilou Makris
J P Harris
S R Patel
D Bhudia





REGISTERED OFFICE: Lymehouse Studios
30/31 Lyme Street
London
NW1 0EE





REGISTERED NUMBER: 04700822 (England and Wales)





ACCOUNTANTS: Dua & Co. Limited
1st Floor
5 Century Court
Tolpits Lane
Watford
Hertfordshire
WD18 9PX

MENDICK WARING LIMITED (Registered number: 04700822)

Balance Sheet
30 June 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 224,675 263,145

CURRENT ASSETS
Stocks 225,000 205,000
Debtors 5 1,001,577 838,615
Cash at bank and in hand 268,373 441,178
1,494,950 1,484,793
CREDITORS
Amounts falling due within one year 6 446,999 547,942
NET CURRENT ASSETS 1,047,951 936,851
TOTAL ASSETS LESS CURRENT LIABILITIES 1,272,626 1,199,996

CREDITORS
Amounts falling due after more than one year 7 141,424 192,577
NET ASSETS 1,131,202 1,007,419

CAPITAL AND RESERVES
Called up share capital 10 1,000 1,000
Retained earnings 11 1,130,202 1,006,419
SHAREHOLDERS' FUNDS 1,131,202 1,007,419

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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 27 March 2025 and were signed on its behalf by:





S R Patel - Director


MENDICK WARING LIMITED (Registered number: 04700822)

Notes to the Financial Statements
For The Year Ended 30 June 2024

1. STATUTORY INFORMATION

MENDICK WARING LIMITED 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.
Land and buildings - 25% on cost
Plant and machinery etc - 25% on cost

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 49 (2023 - 49 ) .

MENDICK WARING LIMITED (Registered number: 04700822)

Notes to the Financial Statements - continued
For The Year Ended 30 June 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 July 2023
and 30 June 2024 9,567 672,867 682,434
DEPRECIATION
At 1 July 2023 7,175 412,114 419,289
Charge for year 2,392 36,078 38,470
At 30 June 2024 9,567 448,192 457,759
NET BOOK VALUE
At 30 June 2024 - 224,675 224,675
At 30 June 2023 2,392 260,753 263,145

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 863,633 670,608
Other debtors 137,944 168,007
1,001,577 838,615

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 48,919 45,081
Finance leases (see note 8) - 66,667
Trade creditors 85,475 214,067
Taxation and social security 284,630 195,224
Other creditors 27,975 26,903
446,999 547,942

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 141,424 192,577

MENDICK WARING LIMITED (Registered number: 04700822)

Notes to the Financial Statements - continued
For The Year Ended 30 June 2024

8. LEASING AGREEMENTS

Minimum lease payments under finance leases fall due as follows:

Finance leases
2024 2023
£    £   
Gross obligations repayable:
Within one year - 75,600

Finance charges repayable:
Within one year - 8,933

Net obligations repayable:
Within one year - 66,667

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
RLS Loan 167,009 204,324

Included within Other creditors is a RLS loan secured by a fixed and floating charge over the assets held by the company.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 A Ordinary £1000 1,000 1,000

11. RESERVES
Retained
earnings
£   

At 1 July 2023 1,006,419
Profit for the year 562,783
Dividends (385,000 )
Purchase of own shares (54,000 )
At 30 June 2024 1,130,202

MENDICK WARING LIMITED (Registered number: 04700822)

Notes to the Financial Statements - continued
For The Year Ended 30 June 2024

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2024 and 30 June 2023:

2024 2023
£    £   
J P Harris
Balance outstanding at start of year - -
Amounts advanced 446 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 446 -