REGISTERED NUMBER: |
Strategic Report, Report of the Directors and |
Financial Statements for the Year Ended 31st December 2024 |
for |
William Warman & Guttridge Limited |
REGISTERED NUMBER: |
Strategic Report, Report of the Directors and |
Financial Statements for the Year Ended 31st December 2024 |
for |
William Warman & Guttridge Limited |
William Warman & Guttridge Limited (Registered number: 00595070) |
Contents of the Financial Statements |
for the Year Ended 31st December 2024 |
Page |
Company Information | 1 |
Strategic Report | 2 |
Report of the Directors | 3 |
Report of the Independent Auditors | 5 |
Statement of Comprehensive Income | 9 |
Balance Sheet | 10 |
Statement of Changes in Equity | 11 |
Cash Flow Statement | 12 |
Notes to the Cash Flow Statement | 13 |
Notes to the Financial Statements | 14 |
William Warman & Guttridge Limited |
Company Information |
for the Year Ended 31st December 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
SENIOR STATUTORY AUDITOR: |
AUDITORS: |
Chartered Certified Accountants |
Statutory Auditors |
Grenville House |
4 Grenville Avenue |
Broxbourne |
Hertfordshire |
EN10 7DH |
William Warman & Guttridge Limited (Registered number: 00595070) |
Strategic Report |
for the Year Ended 31st December 2024 |
The directors present their strategic report for the year ended 31st December 2024. |
REVIEW OF BUSINESS |
During the financial year, the company experienced steady performance, with turnover of £45.8m increase of 4% compared to prior year. Key contributors to growth included expanded client relationships and increased demand for meat products. |
Gross margin was 9.85 %, reflecting changes in supply chain costs and improved procurement strategies. |
The company successfully navigated challenges such as rising input costs, through proactive supply chain management and diversification of supplier base. |
The Board uses the following KPIs to measure performance: |
KPI | Current Year | Prior Year | Commentary |
Turnover (£) |
£45.8m |
£43.9m |
Reflects changes in volume and price |
Gross Margin (%) |
9.85% |
9.43% |
Driven by cost control and sourcing |
Net Profit Before Tax (£) |
£1,244,270 |
£395,107 |
Indicates underlying profitability |
Inventory Turnover |
92.96 |
76.74 |
Efficiency in stock movement |
PRINCIPAL RISKS AND UNCERTAINTIES |
The company is exposed to several risks typical of the meat trading industry, including: |
- Supply Chain Disruption: Events such as disease outbreaks, transport issues, or import restrictions can affect the availability of product. The company mitigates this via multi-sourcing and inventory planning. |
- Regulatory Compliance: The industry is heavily regulated for food safety, traceability, and hygiene. The company maintains high compliance standards and undergoes regular inspections. |
- Market Demand: Changes in consumer preferences, economic downturns, or pricing pressure can affect sales volumes and margins. |
ON BEHALF OF THE BOARD: |
William Warman & Guttridge Limited (Registered number: 00595070) |
Report of the Directors |
for the Year Ended 31st December 2024 |
The directors present their report with the financial statements of the company for the year ended 31st December 2024. |
PRINCIPAL ACTIVITY |
The principal activity of the company in the year under review was that of The principal activity of the company during the year continued to be the trading of meat and meat-related products. The company sources quality meat from reputable suppliers both domestically and internationally and distributes to wholesale, retail, and foodservice clients across the UK. |
DIVIDENDS |
The total distribution of dividends for the year ended 31st December 2024 will be £288,000. |
FUTURE DEVELOPMENTS |
The company aims to strengthen its market position through: |
- Expansion of product lines, including value-added and pre-prepared meat products |
- Digital investment in ordering and logistics systems |
- Strategic partnerships with key retailers and foodservice providers |
- Exploration of new export markets. |
Management remains committed to maintaining financial discipline and resilience in a changing market environment. |
DIRECTORS |
The directors shown below have held office during the whole of the period from 1st January 2024 to the date of this report. |
Other changes in directors holding office are as follows: |
William Warman & Guttridge Limited (Registered number: 00595070) |
Report of the Directors |
for the Year Ended 31st December 2024 |
STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations. |
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to: |
- | select suitable accounting policies and then apply them consistently; |
- | make judgements and accounting estimates that are reasonable and prudent; |
- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. |
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. |
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS |
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information. |
AUDITORS |
The auditors, Lincoln Brown & Co Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting. |
ON BEHALF OF THE BOARD: |
Report of the Independent Auditors to the Members of |
William Warman & Guttridge Limited |
Qualified Opinion |
We have audited the financial statements of William Warman & Guttridge Limited (the 'company') for the year ended 31st December 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). |
In our opinion the financial statements: |
- | give a true and fair view of the state of the company's affairs as at 31st December 2024 and of its profit for the year then ended; |
- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and |
- | have been prepared in accordance with the requirements of the Companies Act 2006. |
Basis for our opinion |
During the course of our audit, we identified a balance of £1,000,000 in loan notes recognised as a financial asset within the statement of financial position. Management has not provided sufficient appropriate evidence to support the recoverability of these loan notes. In our view, the recoverability of this amount is uncertain, and in the absence of reliable evidence, we were unable to determine whether any impairment is necessary. |
Had we been able to obtain sufficient appropriate audit evidence regarding the recoverability of the loan notes, we might have been able to determine whether adjustments were required to the carrying amount of the financial assets and related disclosures. |
This matter is material but not pervasive to the financial statements as a whole. |
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion. |
Conclusions relating to going concern |
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. |
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. |
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. |
Report of the Independent Auditors to the Members of |
William Warman & Guttridge Limited |
Other information |
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon. |
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. |
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. |
Opinions on other matters prescribed by the Companies Act 2006 |
In our opinion, based on the work undertaken in the course of the audit: |
- | the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and |
- | the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements. |
Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors. |
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: |
- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or |
- | the financial statements are not in agreement with the accounting records and returns; or |
- | certain disclosures of directors' remuneration specified by law are not made; or |
- | we have not received all the information and explanations we require for our audit. |
Responsibilities of directors |
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. |
In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. |
Report of the Independent Auditors to the Members of |
William Warman & Guttridge Limited |
Auditors' responsibilities for the audit of the financial statements |
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. |
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows: |
- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations; |
- we identified the laws and regulations applicable to the company through discussions with directors and other management. |
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, data protection, employment. |
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and |
- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit. |
We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by: |
- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; |
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations; and |
To address the risk of fraud through management bias and override of controls, we: |
- performed analytical procedures to identify any unusual or unexpected relationships; |
- tested journal entries to identify unusual transactions; |
- investigated the rationale behind significant or unusual transactions; and |
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to: |
- agreeing financial statement disclosures to underlying supporting documentation; |
- reading the minutes of meetings of those charged with governance; |
- enquiring of management as to actual and potential litigation and claims; |
Report of the Independent Auditors to the Members of |
William Warman & Guttridge Limited |
- reviewing correspondence with HMRC, relevant regulators Food Standard Agency, Trading Standards, Beef Labelling Scheme and the company's legal advisors; and |
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. |
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors. |
Use of our report |
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. |
for and on behalf of |
Chartered Certified Accountants |
Statutory Auditors |
Grenville House |
4 Grenville Avenue |
Broxbourne |
Hertfordshire |
EN10 7DH |
William Warman & Guttridge Limited (Registered number: 00595070) |
Statement of Comprehensive Income |
for the Year Ended 31st December 2024 |
31.12.24 | 31.12.23 |
Notes | £ | £ |
TURNOVER | 3 |
Cost of sales |
GROSS PROFIT |
Administrative expenses |
OPERATING PROFIT | 5 |
Interest receivable and similar income |
1,244,270 | 434,480 |
Interest payable and similar expenses |
6 |
PROFIT BEFORE TAXATION |
Tax on profit | 7 |
PROFIT FOR THE FINANCIAL YEAR |
OTHER COMPREHENSIVE INCOME | - | - |
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
William Warman & Guttridge Limited (Registered number: 00595070) |
Balance Sheet |
31st December 2024 |
31.12.24 | 31.12.23 |
Notes | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 9 |
Tangible assets | 10 |
Investments | 11 |
CURRENT ASSETS |
Stocks | 12 |
Debtors | 13 |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 14 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | 16 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 17 |
Retained earnings | 18 |
SHAREHOLDERS' FUNDS |
The financial statements were approved by the Board of Directors and authorised for issue on |
William Warman & Guttridge Limited (Registered number: 00595070) |
Statement of Changes in Equity |
for the Year Ended 31st December 2024 |
Called up |
share | Retained | Total |
capital | earnings | equity |
£ | £ | £ |
Balance at 1st January 2023 |
Changes in equity |
Dividends | - | ( |
) | ( |
) |
Total comprehensive income | - |
Balance at 31st December 2023 |
Changes in equity |
Reduction in share capital | (5,626 | ) | - | (5,626 | ) |
Dividends | - | ( |
) | ( |
) |
Total comprehensive income | - |
Purchase of own shares | - | (2,994,377 | ) | (2,994,377 | ) |
Balance at 31st December 2024 |
William Warman & Guttridge Limited (Registered number: 00595070) |
Cash Flow Statement |
for the Year Ended 31st December 2024 |
31.12.24 | 31.12.23 |
Notes | £ | £ |
Cash flows from operating activities |
Cash generated from operations | 1 |
Interest paid | ( |
) |
Tax paid | ( |
) | ( |
) |
Net cash from operating activities |
Cash flows from investing activities |
Purchase of tangible fixed assets | ( |
) | ( |
) |
Sale of tangible fixed assets |
Interest received |
Net cash from investing activities | ( |
) |
Cash flows from financing activities |
Amount introduced by directors | 697,422 | - |
Amount withdrawn by directors | (436,876 | ) | (324,802 | ) |
Reduction in share capital | ( |
) |
Proceeds from buyback of shares | ( |
) |
Equity dividends paid | ( |
) | ( |
) |
Net cash from financing activities | ( |
) | ( |
) |
(Decrease)/increase in cash and cash equivalents | ( |
) |
Cash and cash equivalents at beginning of year |
2 |
3,298,145 |
Cash and cash equivalents at end of year |
2 |
3,525,079 |
6,539,957 |
William Warman & Guttridge Limited (Registered number: 00595070) |
Notes to the Cash Flow Statement |
for the Year Ended 31st December 2024 |
1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
31.12.24 | 31.12.23 |
£ | £ |
Profit before taxation |
Depreciation charges |
(Profit)/loss on disposal of fixed assets | ( |
) |
Finance costs | - | 39,373 |
Finance income | (67,794 | ) | (37,737 | ) |
1,277,565 | 709,664 |
Decrease in stocks |
(Increase)/decrease in trade and other debtors | ( |
) |
Increase in trade and other creditors |
Cash generated from operations |
2. | CASH AND CASH EQUIVALENTS |
The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts: |
Year ended 31st December 2024 |
31.12.24 | 1.1.24 |
£ | £ |
Cash and cash equivalents | 3,525,079 | 6,539,957 |
Year ended 31st December 2023 |
31.12.23 | 1.1.23 |
£ | £ |
Cash and cash equivalents | 6,539,957 | 3,298,145 |
3. | ANALYSIS OF CHANGES IN NET FUNDS |
At 1.1.24 | Cash flow | At 31.12.24 |
£ | £ | £ |
Net cash |
Cash at bank and in hand | 6,539,957 | (3,014,878 | ) | 3,525,079 |
6,539,957 | ( |
) | 3,525,079 |
Total | 6,539,957 | (3,014,878 | ) | 3,525,079 |
William Warman & Guttridge Limited (Registered number: 00595070) |
Notes to the Financial Statements |
for the Year Ended 31st December 2024 |
1. | STATUTORY INFORMATION |
William Warman & Guttridge Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Significant judgements and estimates |
There were no significant judgements and estimates made by management in the preparation of the financial statements. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, exclusive of discounts and is recognised at the point of delivery. |
Goodwill |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed asset's |
Plant and machinery | - |
Fixtures and fittings | - |
Motor vehicles | - |
The asset's are measured at cost less accumulated depreciation and accumulated impairment losses. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowances for obsolete and slow moving items. Cost is principally determined using the FIFO (first in first out) method. |
William Warman & Guttridge Limited (Registered number: 00595070) |
Notes to the Financial Statements - continued |
for the Year Ended 31st December 2024 |
2. | ACCOUNTING POLICIES - continued |
Financial instruments |
Financial assets and financial liabilities are recognised on the company's Balance Sheet when the company becomes a party to the contractual provisions of the instrument. |
Trade Debtors |
Trade Debtors do not carry any interest and are stated at their nominal value as reduced by appropriate allowances for estimated irrecoverable amounts. Estimated irrecoverable amounts are based on the ageing of the receivable balances and historical experience. Individual trade debtors are written off when management deems them not to be collectible. |
Cash and cash equivalents |
Cash and cash equivalents comprise cash on hand that is readily convertible to a known amount of cash and are subject to an insignificant risk of changes in value. |
Trade Creditors |
Trade creditors are not interest bearing and are stated at their transaction price. |
Financial liabilities and equity instruments |
Financial liabilities and equity instruments issued by the Company are classified according to the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities and includes no obligation to deliver cash or other financial assets. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, 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. |
William Warman & Guttridge Limited (Registered number: 00595070) |
Notes to the Financial Statements - continued |
for the Year Ended 31st December 2024 |
2. | ACCOUNTING POLICIES - continued |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Hire purchase and leasing commitments |
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. |
Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability. |
Operating lease rentals are charged to the profit and loss account on a straight line basis over the lease term, unless another more systematic basis is more representative of the time pattern of the user's benefit. |
Pension costs and other post-retirement benefits |
The company operates a money purchase scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | TURNOVER |
The turnover and profit before taxation are attributable to the one principal activity of the company. |
An analysis of turnover by class of business is given below: |
31.12.24 | 31.12.23 |
£ | £ |
4. | EMPLOYEES AND DIRECTORS |
31.12.24 | 31.12.23 |
£ | £ |
Wages and salaries |
Social security costs |
Other pension costs |
William Warman & Guttridge Limited (Registered number: 00595070) |
Notes to the Financial Statements - continued |
for the Year Ended 31st December 2024 |
4. | EMPLOYEES AND DIRECTORS - continued |
The average number of employees during the year was as follows: |
31.12.24 | 31.12.23 |
Administrative and management | 7 | 7 |
Sales and distribution | 24 | 26 |
31.12.24 | 31.12.23 |
£ | £ |
Directors' remuneration |
Directors' pension contributions to money purchase schemes |
The number of directors to whom retirement benefits were accruing was as follows: |
Money purchase schemes |
5. | OPERATING PROFIT |
The operating profit is stated after charging/(crediting): |
31.12.24 | 31.12.23 |
£ | £ |
Other operating leases |
Depreciation - owned assets |
(Profit)/loss on disposal of fixed assets | ( |
) |
Goodwill amortisation |
Auditors' remuneration |
6. | INTEREST PAYABLE AND SIMILAR EXPENSES |
31.12.24 | 31.12.23 |
£ | £ |
Interest payable |
William Warman & Guttridge Limited (Registered number: 00595070) |
Notes to the Financial Statements - continued |
for the Year Ended 31st December 2024 |
7. | TAXATION |
Analysis of the tax charge |
The tax charge on the profit for the year was as follows: |
31.12.24 | 31.12.23 |
£ | £ |
Current tax: |
UK corporation tax |
previous year | (6,442 | ) | - |
Total current tax |
Deferred tax | ( |
) |
Tax on profit |
UK corporation tax has been charged at 25% (2023 - 25%). |
Reconciliation of total tax charge included in profit and loss |
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below: |
31.12.24 | 31.12.23 |
£ | £ |
Profit before tax |
Profit multiplied by the standard rate of corporation tax in the UK of |
Effects of: |
Expenses not deductible for tax purposes |
Capital allowances in excess of depreciation | ( |
) | - |
Adjustments to tax charge in respect of previous periods | ( |
) |
Deferred tax movement | (645 | ) | (7,841 | ) |
Total tax charge | 304,225 | 155,846 |
8. | DIVIDENDS |
31.12.24 | 31.12.23 |
£ | £ |
Ordinary Shares shares of £1 each |
Interim |
Preference Shares shares of £1 each |
Interim |
William Warman & Guttridge Limited (Registered number: 00595070) |
Notes to the Financial Statements - continued |
for the Year Ended 31st December 2024 |
9. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1st January 2024 |
and 31st December 2024 |
AMORTISATION |
At 1st January 2024 |
and 31st December 2024 |
NET BOOK VALUE |
At 31st December 2024 |
At 31st December 2023 |
10. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor |
machinery | fittings | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1st January 2024 |
Additions |
Disposals | ( |
) | ( |
) | ( |
) | ( |
) |
At 31st December 2024 |
DEPRECIATION |
At 1st January 2024 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) | ( |
) | ( |
) |
At 31st December 2024 |
NET BOOK VALUE |
At 31st December 2024 |
At 31st December 2023 |
11. | FIXED ASSET INVESTMENTS |
Other |
loans |
£ |
New in year |
At 31st December 2024 |
Is loan notes held in LMO Finance Limited (15721287) |
William Warman & Guttridge Limited (Registered number: 00595070) |
Notes to the Financial Statements - continued |
for the Year Ended 31st December 2024 |
12. | STOCKS |
31.12.24 | 31.12.23 |
£ | £ |
Stocks |
Off site stocks |
The nature of the stocks is wholesale meat. |
13. | DEBTORS |
31.12.24 | 31.12.23 |
£ | £ |
Amounts falling due within one year: |
Trade debtors |
Other debtors |
Directors' current accounts | - | 185,205 |
VAT |
Prepayments |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
14. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.12.24 | 31.12.23 |
£ | £ |
Trade creditors |
Corporation tax |
PAYE and other taxes |
Wages control | 179,810 | 47,230 |
Other creditors |
Directors' current accounts | 149,763 | 74,422 |
Accruals and deferred income |
William Warman & Guttridge Limited (Registered number: 00595070) |
Notes to the Financial Statements - continued |
for the Year Ended 31st December 2024 |
15. | LEASING AGREEMENTS |
Minimum lease payments under non-cancellable operating leases fall due as follows: |
31.12.24 | 31.12.23 |
£ | £ |
Within one year |
Between one and five years |
In more than five years |
16. | PROVISIONS FOR LIABILITIES |
31.12.24 | 31.12.23 |
£ | £ |
Deferred tax |
Accelerated capital allowances |
Deferred |
tax |
£ |
Balance at 1st January 2024 |
Accelerated capital | allowance | 645 |
Balance at 31st December 2024 |
17. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.12.24 | 31.12.23 |
value: | £ | £ |
Ordinary Shares | £1 | 11,937 | 17,501 |
Employee Shares | £1 | - | 60 |
Preference Shares | £1 | - | 2 |
11,937 | 17,563 |
William Warman & Guttridge Limited (Registered number: 00595070) |
Notes to the Financial Statements - continued |
for the Year Ended 31st December 2024 |
17. | CALLED UP SHARE CAPITAL - continued |
All shares have the same rights; |
Particulars of any voting rights; |
All shares have equal voting rights; |
Particulars of any voting rights as respects dividends; |
All shares have rights as respects dividends to participate in a variable distribution; |
All shares have rights as respects capital to participate in a variable distribution; |
Particulars of any other rights; |
All shares have equal rights to be redeemed. |
18. | RESERVES |
Retained |
earnings |
£ |
At 1st January 2024 |
Profit for the year |
Dividends | ( |
) |
Purchase of own shares | (2,994,377 | ) |
At 31st December 2024 |
19. | RELATED PARTY DISCLOSURES |
Within other debtors is a balance due from a related party LMG Homes Ltd of £356,444 (2023 £117,112). |
Key management personnel remuneration is the same as directors' remuneration. |