Registered number
09156236
Warner Carpentry Limited
Unaudited Filleted Accounts
31 July 2024
Warner Carpentry Limited
Report and accounts
Contents
Page
Company information 1
Directors' report 2
Chartered Accountants' report 3
Balance sheet 4
Notes to the accounts 5
Warner Carpentry Limited
Company Information
Directors
M W Warner
L R Warner
Accountants
Cochrane & Co Accountants Limited
38 Kings Road
Lee-on-the-Solent
Hampshire
PO13 9NU
Registered office
9 The Meadows
Fareham
PO16 8UN
Registered number
09156236
Warner Carpentry Limited
Registered number: 09156236
Directors' Report
The directors present their report and accounts for the year ended 31 July 2024.
Principal activities
The company's principal activity during the year continued to be that of the provision of carpentry works and project management.
Directors
The following persons served as directors during the year:
M W Warner
L R Warner
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 2 April 2025 and signed on its behalf.
L R Warner
Director
Warner Carpentry Limited
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Warner Carpentry Limited for the year ended 31 July 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Warner Carpentry Limited for the year ended 31 July 2024 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
www.icaew.com/en/members/regulations-standards-and-guidance
Our work has been undertaken in accordance with ICAEW Technical Release 07/16 AAF.
Cochrane & Co Accountants Limited
Chartered Accountants
38 Kings Road
Lee-on-the-Solent
Hampshire
PO13 9NU
2 April 2025
Warner Carpentry Limited
Registered number: 09156236
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 23,004 29,324
Current assets
Debtors 4 8,982 11,617
Cash at bank and in hand 46,285 107,463
55,267 119,080
Creditors: amounts falling due within one year 5 (19,134) (68,514)
Net current assets 36,133 50,566
Total assets less current liabilities 59,137 79,890
Creditors: amounts falling due after more than one year 6 (8,631) (17,363)
Provisions for liabilities (4,370) (4,382)
Net assets 46,136 58,145
Capital and reserves
Called up share capital 2 2
Profit and loss account 46,134 58,143
Shareholders' funds 46,136 58,145
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M W Warner
Director
Approved by the board on 2 April 2025
Warner Carpentry Limited
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles over 5 years
Plant and machinery over 5 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 August 2023 7,068 67,145 74,213
Additions 2,076 - 2,076
At 31 July 2024 9,144 67,145 76,289
Depreciation
At 1 August 2023 4,012 40,877 44,889
Charge for the year 1,829 6,567 8,396
At 31 July 2024 5,841 47,444 53,285
Net book value
At 31 July 2024 3,303 19,701 23,004
At 31 July 2023 3,056 26,268 29,324
4 Debtors 2024 2023
£ £
Trade debtors 7,896 10,410
Other debtors 1,086 1,207
8,982 11,617
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 3,000 3,000
Obligations under finance lease and hire purchase contracts 5,736 5,736
Trade creditors 3,670 14,568
Taxation and social security costs 5,083 13,635
Other creditors 1,645 31,575
19,134 68,514
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 2,754 5,750
Obligations under finance lease and hire purchase contracts 5,877 11,613
8,631 17,363
7 Controlling party
The company is controlled jointly by it's directors.
8 Other information
Warner Carpentry Limited is a private company limited by shares and incorporated in England. Its registered office is:
9 The Meadows
Fareham
PO16 8UN
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