Warwick Court Equipment Limited
Unaudited Financial Statements
For the year ended 30 September 2023
Pages for Filing with Registrar
Company Registration No. 0594963 (England and Wales)
Warwick Court Equipment Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
Warwick Court Equipment Limited
Balance Sheet
As at 30 September 2023
Page 1
2023
2022
Notes
£
£
£
£
Fixed assets
Investment properties
3
991,029
991,029
Investments
4
899
991,029
991,928
Current assets
Debtors
5
71,184
Cash at bank and in hand
2,211
20,184
73,395
20,184
Creditors: amounts falling due within one year
6
(58,341)
(189,490)
Net current assets/(liabilities)
15,054
(169,306)
Total assets less current liabilities
1,006,083
822,622
Creditors: amounts falling due after more than one year
7
(583,023)
(406,000)
Net assets
423,060
416,622
Capital and reserves
Called up share capital
8
2
2
Revaluation reserve
9
400,000
400,000
Profit and loss reserves
23,058
16,620
Total equity
423,060
416,622
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Warwick Court Equipment Limited
Balance Sheet (Continued)
As at 30 September 2023
Page 2
The financial statements were approved and signed by the director and authorised for issue on 14 May 2025
Mr Richard Spivack
Director
Company Registration No. 0594963
Warwick Court Equipment Limited
Notes to the Financial Statements
For the year ended 30 September 2023
Page 3
1
Accounting policies
Company information
Warwick Court Equipment Limited is a private company limited by shares incorporated in England and Wales. The registered office is 6th Floor, 9 Appold Street, London, United Kingdom, EC2A 2AP.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Going concern
Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.4
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
1.5
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
Warwick Court Equipment Limited
Notes to the Financial Statements (Continued)
For the year ended 30 September 2023
1
Accounting policies
(Continued)
Page 4
1.6
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
Financial instruments
The company has basic financial instruments measured at amortised cost, with no financial instruments classified as other or basic instruments measured at fair value.
1.8
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.9
Taxation
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2023
2022
Number
Number
Total
1
1
3
Investment property
2023
£
Fair value
At 13 September 2022 and 30 September 2023
991,029
The directors have reviewed the valuation of the investment properties and believe the amount stated above is a fair estimate of their market value at the balance sheet date. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
Warwick Court Equipment Limited
Notes to the Financial Statements (Continued)
For the year ended 30 September 2023
Page 5
4
Fixed asset investments
2023
2022
£
£
Other investments other than loans
899
Movements in fixed asset investments
Investments
£
Cost or valuation
At 13 September 2022 & 30 September 2023
899
Impairment
At 13 September 2022
-
Impairment losses
899
At 30 September 2023
899
Carrying amount
At 30 September 2023
-
At 12 September 2022
899
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
71,184
-
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
3,406
4,536
Corporation tax
7,133
7,078
Other creditors
41,652
175,476
Accruals and deferred income
6,150
2,400
58,341
189,490
Warwick Court Equipment Limited
Notes to the Financial Statements (Continued)
For the year ended 30 September 2023
Page 6
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
583,023
406,000
8
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2
2
2
2
9
Revaluation reserve
2023
2022
£
£
At the beginning and end of the year
400,000
400,000
10
Related party transactions
At the year end, there is a balance of £71,184 (£2022: 130,886 owed to) owed by the Director. This balance is interest free an repaid within 9 months.