Registered number
01406144
M.J. Warner (Holdings) Limited
Report and Accounts
31 October 2024
M.J. Warner (Holdings) Limited
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of M.J. Warner (Holdings) Limited for the year ended 31 October 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of M.J. Warner (Holdings) Limited for the year ended 31 October 2024 which comprise of the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at
icaew.com/membershandbook.
This report is made solely to the Board of Directors of M.J. Warner (Holdings) Limited, as a body, in accordance with the terms of our engagement letter dated 19 April 2022. Our work has been undertaken solely to prepare for your approval the accounts of M.J. Warner (Holdings) Limited and state those matters that we have agreed to state to the Board of Directors of M.J. Warner (Holdings) Limited, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than M.J. Warner (Holdings) Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that M.J. Warner (Holdings) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of M.J. Warner (Holdings) Limited. You consider that M.J. Warner (Holdings) Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of M.J. Warner (Holdings) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
Hicks and Company
Chartered Accountants
99 Bancroft
Hitchin
Herts
SG5 1NQ
10 July 2025
M.J. Warner (Holdings) Limited
Registered number: 01406144
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 15,300 16,488
Current assets
Stocks 350 350
Debtors 4 41,911 38,711
Cash at bank and in hand 9,877 11,212
52,138 50,273
Creditors: amounts falling due within one year 5 (45,272) (45,281)
Net current assets 6,866 4,992
Net assets 22,166 21,480
Capital and reserves
Called up share capital 90 90
Profit and loss account 22,076 21,390
Shareholders' funds 22,166 21,480
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr M. J. Warner
Director
Approved by the board on 10 July 2025
M.J. Warner (Holdings) Limited
Notes to the Accounts
for the year ended 31 October 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102 Section 1A, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Improvement to premises 2% straight line
Plant and equipment 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Improvements to premises Plant and equipment Total
£ £ £
Cost
At 1 November 2023 54,048 34,026 88,074
At 31 October 2024 54,048 34,026 88,074
Depreciation
At 1 November 2023 38,625 32,961 71,586
Charge for the year 1,075 113 1,188
At 31 October 2024 39,700 33,074 72,774
Net book value
At 31 October 2024 14,348 952 15,300
At 31 October 2023 15,423 1,065 16,488
4 Debtors 2024 2023
£ £
Trade debtors 13,046 9,846
Other debtors 28,865 28,865
41,911 38,711
5 Creditors: amounts falling due within one year 2024 2023
£ £
Corporation tax 378 1,107
Accurals 720 720
Director's loan account 36,898 36,178
Other creditors 7,276 7,276
45,272 45,281
6 Other information
M.J. Warner (Holdings) Limited is a private company limited by shares and incorporated in England. Its registered office is:
99 Bancroft
Hitchin
Herts
SG5 1NQ
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