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Registered number: 04813994
Waring Industries Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
Contents
Page
Statement of Financial Position 1—2
Notes to the Financial Statements 3—6
Page 1
Statement of Financial Position
Registered number: 04813994
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 768,199 749,598
768,199 749,598
CURRENT ASSETS
Stocks 118,400 113,300
Debtors 6 387,950 446,894
Cash at bank and in hand 197,561 203,372
703,911 763,566
Creditors: Amounts Falling Due Within One Year 7 (326,572 ) (222,428 )
NET CURRENT ASSETS (LIABILITIES) 377,339 541,138
TOTAL ASSETS LESS CURRENT LIABILITIES 1,145,538 1,290,736
Creditors: Amounts Falling Due After More Than One Year 8 (251,914 ) (271,828 )
PROVISIONS FOR LIABILITIES
Deferred Taxation - (34,114 )
NET ASSETS 893,624 984,794
CAPITAL AND RESERVES
Called up share capital 100 100
Income Statement 893,524 984,694
SHAREHOLDERS' FUNDS 893,624 984,794
Page 1
Page 2
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.
On behalf of the board
Mrs J Waring
Director
02/05/2025
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Waring Industries Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04813994 . The registered office is Unit 5 Skelton Industrial Estate, Skelton Road, Crosshills, Keighley, West Yorkshire, BD20 7BY.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

The financial statements are prepared under the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.

2.2. Turnover
Turnover is measured at the fair value of the consideration receivable for goods sold, net of discounts and Value Added Tax.
Turnover is invoiced and recognised on completion of the work undertaken.

2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to income statement over its estimated economic life of 7 years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold No depreciation
Plant & Machinery 20% reducing balance
Motor Vehicles 25% straight line
Fixtures & Fittings 25% straight line
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Financial Instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transactions price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.


2.7. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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2.8. Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. 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 capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively.
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.


2.9. Pensions
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.

2.10. Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period is arises.

2.11. Impairments
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs.
The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

3. Average Number of Employees
Average number of employees, including directors, during the year was: 27 (2024: 24)
27 24
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2024 12,000
As at 31 March 2025 12,000
Amortisation
As at 1 April 2024 12,000
As at 31 March 2025 12,000
...CONTINUED
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Page 5
Net Book Value
As at 31 March 2025 -
As at 1 April 2024 -
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 April 2024 613,143 81,235 213,730 7,646 915,754
Additions - - 60,930 2,267 63,197
Disposals - - (4,967 ) - (4,967 )
As at 31 March 2025 613,143 81,235 269,693 9,913 973,984
Depreciation
As at 1 April 2024 - 54,349 105,807 6,000 166,156
Provided during the period - 5,377 35,796 978 42,151
Disposals - - (2,522 ) - (2,522 )
As at 31 March 2025 - 59,726 139,081 6,978 205,785
Net Book Value
As at 31 March 2025 613,143 21,509 130,612 2,935 768,199
As at 1 April 2024 613,143 26,886 107,923 1,646 749,598
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 172,082 183,470
Prepayments and accrued income 23,940 23,365
Other debtors 5,000 5,000
Corporation tax recoverable 8,036 -
Other taxes and social security 10,322 10,322
Directors' loan accounts 168,570 224,737
387,950 446,894
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7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 248,112 155,130
Bank loans and overdrafts 18,329 11,039
Corporation tax - 8,036
VAT 38,190 25,192
Accruals and deferred income 21,941 23,031
326,572 222,428
Included in creditors: amounts falling due within one year, is a bank loan of £18,329 (2024 - £11,039) which is secured by way of a legal charge over Unit 5 Skelton Industrial Estate, Skelton Road, Crosshills, Keighley, West Yorkshire, BD20 7BY.
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 251,914 271,828
Included in creditors: amounts falling due after more than one year, is a bank loan of £251,914 (2024 - £271,828) which is secured by way of a legal charge over Unit 5 Skelton Industrial Estate, Skelton Road, Crosshills, Keighley, West Yorkshire, BD20 7BY.
Included within creditors: amounts falling due after more than one year is an amount of £178,316 (2024 - £227,671) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
The bank loan is repayable in monthly instalments and is due to be repaid during the year ended 31 March 2040. Interest is calculated at a fixed rate of 4.8%.
9. Pension Commitments
The company operates a defined contributions pension scheme. The assets of the scheme are held seperately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £13,603 (2024 - £12,454).
Contributions totalling £2,726 (2024 - £2,681) were payable to the fund at the year end, and are included in creditors: amounts falling due within one year.
10. Directors Advances, Credits and Guarantees
Included within other debtors are the following loans to directors:
As at 1 April 2024 Amounts advanced Amounts repaid Amounts written off As at 31 March 2025
£ £ £ £ £
Mr David Waring 112,368 (28,083 ) - - 84,285
Mrs Joanne Waring 112,369 (28,084 ) - - 84,285
The above loans are interest free and repayable on demand.
11. Related Party Transactions
During the year, dividends of £84,140 (2024 - £82,400) were paid to the directors.
12. Ultimate Controlling Party
The company is under the control of Mr D J Waring and Mrs J Waring, who are interested in 90% of the company's issued share capital.
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