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Registered number: 00898807
Warner Of Wingate Limited
Financial Statements
For The Year Ended 31 March 2025
Henniker & Co Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 00898807
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 511,300 584,063
Investment Properties 5 1,131,458 1,131,458
1,642,758 1,715,521
CURRENT ASSETS
Stocks 6 231,575 302,800
Debtors 7 50,229 126,416
Investments 8 1,146,612 727,528
Cash at bank and in hand 569,815 732,794
1,998,231 1,889,538
Creditors: Amounts Falling Due Within One Year 9 (144,273 ) (250,744 )
NET CURRENT ASSETS (LIABILITIES) 1,853,958 1,638,794
TOTAL ASSETS LESS CURRENT LIABILITIES 3,496,716 3,354,315
PROVISIONS FOR LIABILITIES
Deferred Taxation (21,705 ) (17,001 )
NET ASSETS 3,475,011 3,337,314
CAPITAL AND RESERVES
Called up share capital 10 40 40
Capital redemption reserve 60 60
Profit and Loss Account 3,474,911 3,337,214
SHAREHOLDERS' FUNDS 3,475,011 3,337,314
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 member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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 Profit and Loss Account.
On behalf of the board
Mr Philip Winetroube
Director
24/07/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Warner Of Wingate Limited is a private company, limited by shares, incorporated in England & Wales, registered number 00898807 . The registered office is Colliery Yard, Wingate, Co.Durham, TS28 5LJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. 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 4% straight line balance
Leasehold Nil
Plant & Machinery 25% Reducing balance
Motor Vehicles 25% Reducing balance
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
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.
Page 3
Page 4
2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2024: 2)
2 2
4. Tangible Assets
Land & Property
Freehold Leasehold Plant & Machinery Motor Vehicles Total
£ £ £ £ £
Cost
As at 1 April 2024 402,575 5,792 77,184 214,508 700,059
Additions - - - 16,360 16,360
Disposals - - - (73,817 ) (73,817 )
As at 31 March 2025 402,575 5,792 77,184 157,051 642,602
Depreciation
As at 1 April 2024 8,500 5,789 51,962 49,745 115,996
Provided during the period 1,000 3 6,833 33,278 41,114
Disposals - - - (25,808 ) (25,808 )
As at 31 March 2025 9,500 5,792 58,795 57,215 131,302
Net Book Value
As at 31 March 2025 393,075 - 18,389 99,836 511,300
As at 1 April 2024 394,075 3 25,222 164,763 584,063
5. Investment Property
2025
£
Fair Value
As at 1 April 2024 and 31 March 2025 1,131,458
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Page 5
6. Stocks
2025 2024
£ £
Stock 231,575 302,800
7. Debtors
2025 2024
£ £
Due within one year
Trade debtors 38,013 114,644
Prepayments and accrued income 12,216 11,772
50,229 126,416
8. Current Asset Investments
2025 2024
£ £
Listed investments 1,146,612 727,528
9. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 9,370 22,833
Corporation tax 71,929 152,735
VAT 23,586 23,416
Credit card account 2,723 3,338
Other creditor 31,830 43,697
Accruals and deferred income 3,724 3,740
Director's loan account 1,111 985
144,273 250,744
10. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 40 40
Page 5