Registration number:
Warren Hughes Limited
for the Year Ended 30 August 2024
Warren Hughes Limited
Contents
|
Company Information |
|
|
Director's Report |
|
|
Balance Sheet |
|
|
Notes to the Unaudited Financial Statements |
Warren Hughes Limited
Company Information
|
Director |
Mr Warren Hughes |
|
Company secretary |
Mrs Wendy May Hughes |
|
Registered office |
|
|
Accountants |
|
Warren Hughes Limited
Director's Report for the Year Ended 30 August 2024
The director presents his report and the financial statements for the year ended 30 August 2024.
Director of the company
The director who held office during the year was as follows:
Principal activity
The principal activity of the company is manufacture and installation of wooden furniture, house frames and ancillary goods
Approved and authorised by the
|
......................................... |
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Warren Hughes Limited
(Registration number: 06959378)
Balance Sheet as at 30 August 2024
|
Note |
2024 |
2023 |
|
|
Fixed assets |
|||
|
Tangible assets |
|
|
|
|
Current assets |
|||
|
Stocks |
|
|
|
|
Debtors |
|
|
|
|
Cash at bank and in hand |
|
|
|
|
|
|
||
|
Creditors: Amounts falling due within one year |
( |
( |
|
|
Net current assets |
|
|
|
|
Total assets less current liabilities |
|
|
|
|
Creditors: Amounts falling due after more than one year |
( |
( |
|
|
Net assets |
|
|
|
|
Capital and reserves |
|||
|
Called up share capital |
2 |
2 |
|
|
Retained earnings |
67,282 |
41,403 |
|
|
Shareholders' funds |
67,284 |
41,405 |
For the financial year ending 30 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
|
• |
|
|
• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.
Approved and authorised by the
|
......................................... |
Warren Hughes Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 August 2024
|
General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
Company Registration No: 06959378 (England & Wales)
These financial statements were authorised for issue by the
|
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are presented in UK Sterling which is the functional currency of the company.
Revenue recognition
Turnover comprises the invoiced value of sales excluding value added tax. Income is recognised when the company becomes contractually entitled to payment in respect of the goods and services it has provided.
Government grants
Government grants are accounted for in the accounting period in which they are received.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
Warren Hughes Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 August 2024
Tangible assets
Tangible fixed assets held for the companies own use are stated at cost less any accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of an asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Warren Hughes Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 August 2024
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
|
Asset class |
Depreciation method and rate |
|
|
|
|
Plant & Machinery |
20% Reducing Balance |
|
Motor Vehicles |
20% Reducing Balance |
Defined contribution pension obligation
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
|
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
|
Profit/loss before tax |
Arrived at after charging/(crediting)
|
2024 |
2023 |
|
|
Depreciation expense |
|
|
Warren Hughes Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 August 2024
|
Tangible assets |
|
Land and buildings |
Furniture, fittings and equipment |
Motor vehicles |
Other tangible assets |
Total |
|
|
Cost or valuation |
|||||
|
At 31 August 2023 |
|
|
|
|
|
|
Additions |
- |
|
|
|
|
|
At 30 August 2024 |
|
|
|
|
|
|
Depreciation |
|||||
|
At 31 August 2023 |
- |
|
|
|
|
|
Charge for the year |
- |
|
|
|
|
|
At 30 August 2024 |
- |
|
|
|
|
|
Carrying amount |
|||||
|
At 30 August 2024 |
|
|
|
|
|
|
At 30 August 2023 |
|
|
|
|
|
Included within the net book value of land and buildings above is £7,980 (2023 - £7,980) in respect of freehold land and buildings.
Warren Hughes Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 August 2024
|
Stocks |
|
2024 |
2023 |
|
|
Work in progress |
|
|
|
Debtors |
|
Current |
2024 |
2023 |
|
Trade debtors |
|
|
|
Other debtors |
|
|
|
|
|
Warren Hughes Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 August 2024
|
Creditors |
Creditors: amounts falling due within one year
|
2024 |
2023 |
|
|
Due within one year |
||
|
Trade creditors |
|
|
|
Taxation and social security |
|
|
|
Accruals and deferred income |
|
|
|
Other creditors |
|
|
|
|
|
Creditors: amounts falling due after more than one year
|
Note |
2024 |
2023 |
|
|
Due after one year |
|||
|
Loans and borrowings |
|
|
|
Share capital |
Allotted, called up and fully paid shares
|
2024 |
2023 |
|||
|
No. |
£ |
No. |
£ |
|
|
|
|
2 |
|
2 |
|
Loans and borrowings |
Non-current loans and borrowings
|
2024 |
2023 |
|
|
Bank borrowings |
|
|
Bank borrowings
|
Government backed bounce back loan with a floating charge over the assets of the company. |