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REGISTERED NUMBER: 00595070 (England and Wales)












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: Mr M Gillham
Mrs L Gillham



REGISTERED OFFICE: 12 East Market Buildings
Central Markets
Smithfields
London
EC1A 9PQ



REGISTERED NUMBER: 00595070 (England and Wales)



SENIOR STATUTORY
AUDITOR:
Daniel Brown



AUDITORS: Lincoln Brown & Co Limited
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:





Mr M Gillham - Director


15th April 2025

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.

Mr M Gillham
Mrs L Gillham

Other changes in directors holding office are as follows:

Mrs G P Gillham - resigned 12th March 2024


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:





Mr M Gillham - Director


15th April 2025

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.




Daniel Brown (Senior Statutory Auditor)
for and on behalf of Lincoln Brown & Co Limited
Chartered Certified Accountants
Statutory Auditors
Grenville House
4 Grenville Avenue
Broxbourne
Hertfordshire
EN10 7DH

15th April 2025

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 45,854,777 43,901,058

Cost of sales 41,340,046 39,759,407
GROSS PROFIT 4,514,731 4,141,651

Administrative expenses 3,338,255 3,744,908
OPERATING PROFIT 5 1,176,476 396,743

Interest receivable and similar
income

67,794

37,737
1,244,270 434,480

Interest payable and similar
expenses

6

-

39,373
PROFIT BEFORE TAXATION 1,244,270 395,107

Tax on profit 7 304,225 155,846
PROFIT FOR THE FINANCIAL YEAR 940,045 239,261

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

940,045

239,261

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 10 180,409 177,831
Investments 11 1,000,000 -
1,180,409 177,831

CURRENT ASSETS
Stocks 12 444,690 518,094
Debtors 13 4,288,359 3,769,662
Cash at bank and in hand 3,525,079 6,539,957
8,258,128 10,827,713
CREDITORS
Amounts falling due within one year 14 5,183,355 4,403,049
NET CURRENT ASSETS 3,074,773 6,424,664
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,255,182

6,602,495

PROVISIONS FOR LIABILITIES 16 45,102 44,457
NET ASSETS 4,210,080 6,558,038

CAPITAL AND RESERVES
Called up share capital 17 11,937 17,563
Retained earnings 18 4,198,143 6,540,475
SHAREHOLDERS' FUNDS 4,210,080 6,558,038

The financial statements were approved by the Board of Directors and authorised for issue on 15th April 2025 and were signed on its behalf by:





Mr M Gillham - Director


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 17,563 6,589,214 6,606,777

Changes in equity
Dividends - (288,000 ) (288,000 )
Total comprehensive income - 239,261 239,261
Balance at 31st December 2023 17,563 6,540,475 6,558,038

Changes in equity
Reduction in share capital (5,626 ) - (5,626 )
Dividends - (288,000 ) (288,000 )
Total comprehensive income - 940,045 940,045
Purchase of own shares - (2,994,377 ) (2,994,377 )
Balance at 31st December 2024 11,937 4,198,143 4,210,080

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 1,415,697 4,818,353
Interest paid - (39,373 )
Tax paid (367,245 ) (946,603 )
Net cash from operating activities 1,048,452 3,832,377

Cash flows from investing activities
Purchase of tangible fixed assets (106,371 ) (15,500 )
Sale of tangible fixed assets 2,704 -
Interest received 67,794 37,737
Net cash from investing activities (35,873 ) 22,237

Cash flows from financing activities
Amount introduced by directors 697,422 -
Amount withdrawn by directors (436,876 ) (324,802 )
Reduction in share capital (5,626 ) -
Proceeds from buyback of shares (3,994,377 ) -
Equity dividends paid (288,000 ) (288,000 )
Net cash from financing activities (4,027,457 ) (612,802 )

(Decrease)/increase in cash and cash equivalents (3,014,878 ) 3,241,812
Cash and cash equivalents at
beginning of year

2

6,539,957

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 1,244,270 395,107
Depreciation charges 103,793 310,769
(Profit)/loss on disposal of fixed assets (2,704 ) 2,152
Finance costs - 39,373
Finance income (67,794 ) (37,737 )
1,277,565 709,664
Decrease in stocks 73,404 647,828
(Increase)/decrease in trade and other debtors (703,902 ) 3,236,349
Increase in trade and other creditors 768,630 224,512
Cash generated from operations 1,415,697 4,818,353

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 (3,014,878 ) 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 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of four years.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost

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
£    £   
Meat Sales 45,854,777 43,901,058
45,854,777 43,901,058

4. EMPLOYEES AND DIRECTORS
31.12.24 31.12.23
£    £   
Wages and salaries 1,499,654 1,501,565
Social security costs 159,272 159,751
Other pension costs 328,647 345,575
1,987,573 2,006,891

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 33

31.12.24 31.12.23
£    £   
Directors' remuneration 109,080 109,080
Directors' pension contributions to money purchase schemes 300,000 300,000

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 2 2

5. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

31.12.24 31.12.23
£    £   
Other operating leases 48,687 97,193
Depreciation - owned assets 103,793 110,769
(Profit)/loss on disposal of fixed assets (2,704 ) 2,152
Goodwill amortisation - 200,000
Auditors' remuneration 14,400 13,600

6. INTEREST PAYABLE AND SIMILAR EXPENSES
31.12.24 31.12.23
£    £   
Interest payable - 39,373

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 310,022 163,687
previous year (6,442 ) -
Total current tax 303,580 163,687

Deferred tax 645 (7,841 )
Tax on profit 304,225 155,846

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 1,244,270 395,107
Profit multiplied by the standard rate of corporation tax in the
UK of 25% (2023 - 25%)

311,068

98,777

Effects of:
Expenses not deductible for tax purposes 2,822 64,909
Capital allowances in excess of depreciation (2,578 ) -
Adjustments to tax charge in respect of previous periods (6,442 ) 1
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 288,000 180,000
Preference Shares shares of £1 each
Interim - 108,000
288,000 288,000

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 800,000
AMORTISATION
At 1st January 2024
and 31st December 2024 800,000
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 569,097 371,987 204,139 1,145,223
Additions - 3,371 103,000 106,371
Disposals (268,203 ) (366,198 ) (31,029 ) (665,430 )
At 31st December 2024 300,894 9,160 276,110 586,164
DEPRECIATION
At 1st January 2024 499,036 370,114 98,242 967,392
Charge for year 52,495 1,466 49,832 103,793
Eliminated on disposal (268,203 ) (366,198 ) (31,029 ) (665,430 )
At 31st December 2024 283,328 5,382 117,045 405,755
NET BOOK VALUE
At 31st December 2024 17,566 3,778 159,065 180,409
At 31st December 2023 70,061 1,873 105,897 177,831

11. FIXED ASSET INVESTMENTS
Other
loans
£   
New in year 1,000,000
At 31st December 2024 1,000,000

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 444,690 380,741
Off site stocks - 137,353
444,690 518,094

The nature of the stocks is wholesale meat.

13. DEBTORS
31.12.24 31.12.23
£    £   
Amounts falling due within one year:
Trade debtors 3,847,133 3,368,275
Other debtors 43,051 43,051
Directors' current accounts - 185,205
VAT 29,866 43,838
Prepayments 11,865 12,181
3,931,915 3,652,550

Amounts falling due after more than one year:
Other debtors 356,444 117,112

Aggregate amounts 4,288,359 3,769,662

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 4,597,152 3,698,775
Corporation tax 100,022 163,687
PAYE and other taxes 60,293 114,221
Wages control 179,810 47,230
Other creditors 40,000 177,560
Directors' current accounts 149,763 74,422
Accruals and deferred income 56,315 127,154
5,183,355 4,403,049

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 274,073 247,396
Between one and five years 588,574 924,814
In more than five years - 230,124
862,647 1,402,334

16. PROVISIONS FOR LIABILITIES
31.12.24 31.12.23
£    £   
Deferred tax
Accelerated capital allowances 45,102 44,457

Deferred
tax
£   
Balance at 1st January 2024 44,457
Accelerated capital allowance 645
Balance at 31st December 2024 45,102

17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £    £   
11,937 Ordinary Shares £1 11,937 17,501
60 Employee Shares £1 - 60
2 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 6,540,475
Profit for the year 940,045
Dividends (288,000 )
Purchase of own shares (2,994,377 )
At 31st December 2024 4,198,143

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.