Caseware UK (AP4) 2024.0.164 2024.0.164 2024-08-312024-08-31true2023-09-01falseSupply and service of machinery to the textile trade22trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 04267110 2023-09-01 2024-08-31 04267110 2022-09-01 2023-08-31 04267110 2024-08-31 04267110 2023-08-31 04267110 c:Director2 2023-09-01 2024-08-31 04267110 d:Buildings 2023-09-01 2024-08-31 04267110 d:Buildings 2024-08-31 04267110 d:Buildings 2023-08-31 04267110 d:Buildings d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 04267110 d:PlantMachinery 2023-09-01 2024-08-31 04267110 d:PlantMachinery 2024-08-31 04267110 d:PlantMachinery 2023-08-31 04267110 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 04267110 d:MotorVehicles 2023-09-01 2024-08-31 04267110 d:MotorVehicles 2024-08-31 04267110 d:MotorVehicles 2023-08-31 04267110 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 04267110 d:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 04267110 d:CurrentFinancialInstruments 2024-08-31 04267110 d:CurrentFinancialInstruments 2023-08-31 04267110 d:CurrentFinancialInstruments 4 2024-08-31 04267110 d:CurrentFinancialInstruments 4 2023-08-31 04267110 d:Non-currentFinancialInstruments 2024-08-31 04267110 d:Non-currentFinancialInstruments 2023-08-31 04267110 d:CurrentFinancialInstruments d:WithinOneYear 2024-08-31 04267110 d:CurrentFinancialInstruments d:WithinOneYear 2023-08-31 04267110 d:Non-currentFinancialInstruments d:AfterOneYear 2024-08-31 04267110 d:Non-currentFinancialInstruments d:AfterOneYear 2023-08-31 04267110 d:ShareCapital 2024-08-31 04267110 d:ShareCapital 2023-08-31 04267110 d:RetainedEarningsAccumulatedLosses 2024-08-31 04267110 d:RetainedEarningsAccumulatedLosses 2023-08-31 04267110 c:FRS102 2023-09-01 2024-08-31 04267110 c:AuditExempt-NoAccountantsReport 2023-09-01 2024-08-31 04267110 c:FullAccounts 2023-09-01 2024-08-31 04267110 c:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 04267110 d:KeyManagementIndividualGroup1 d:OtherTransactionType1 2023-09-01 2024-08-31 04267110 d:KeyManagementIndividualGroup1 d:OtherTransactionType1 2023-09-01 04267110 d:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-08-31 04267110 d:CloseFamilyMember2 d:OtherTransactionType2 2023-09-01 2024-08-31 04267110 d:CloseFamilyMember2 d:OtherTransactionType2 2023-08-31 04267110 d:CloseFamilyMember2 d:OtherTransactionType2 2024-08-31 04267110 2 2023-09-01 2024-08-31 04267110 f:PoundSterling 2023-09-01 2024-08-31 iso4217:GBP xbrli:pure

Registered number: 04267110










WARNER TEXTILE MACHINERY LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

 
WARNER TEXTILE MACHINERY LIMITED
 

CONTENTS



Page
Balance Sheet
 
 
1 - 2
Notes to the Financial Statements
 
 
3 - 9

 
WARNER TEXTILE MACHINERY LIMITED
REGISTERED NUMBER:04267110

BALANCE SHEET
AS AT 31 AUGUST 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
2,838
3,757

  
2,838
3,757

Current assets
  

Stocks
  
187,526
230,000

Debtors: amounts falling due within one year
 5 
184,522
124,932

Cash at bank and in hand
  
21,343
59,428

  
393,391
414,360

Current liabilities
  

Creditors: amounts falling due within one year
 6 
(202,397)
(213,630)

Net current assets
  
 
 
190,994
 
 
200,730

Total assets less current liabilities
  
193,832
204,487

Creditors: amounts falling due after more than one year
 7 
(7,949)
(18,248)

  

Net assets
  
185,883
186,239


Capital and reserves
  

Called up share capital 
  
5,000
5,000

Profit and loss account
  
180,883
181,239

  
185,883
186,239

Page 1

 
WARNER TEXTILE MACHINERY LIMITED
REGISTERED NUMBER:04267110
    
BALANCE SHEET (CONTINUED)
AS AT 31 AUGUST 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
A Warner
Director

Date: 29 August 2025

The notes on pages 3 to 9 form part of these financial statements.

Page 2

 
WARNER TEXTILE MACHINERY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1.


General information

Warner Textile Machinery Limited is a private Company, limited by shares, which is registered in England and Wales, registration number 04267110. The registered office is Magna Road, South Wigston, Leicester, Leicestershire, LE18 4ZH.
Principal activities
The principal activity of the Company during the year continued to be that of the supply and service of machinery to the textile trade. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is British Sterling (£).

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Profit and Loss Account except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Profit and Loss Account within 'other operating income'.

Page 3

 
WARNER TEXTILE MACHINERY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessor

Rental income from operating leases is credited to the Profit and Loss Account on a straight-line basis over the lease term.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to the Profit and Loss Account on a straight-line basis over the lease term.

 
2.6

Leased assets: the Company as lessee

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance lease are depreciated over the shorter of the lease term and their useful lives. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the Company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the Profit and Loss Account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Page 4

 
WARNER TEXTILE MACHINERY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)

 
2.7

Interest income

Interest income is recognised in the Profit and Loss Account using the effective interest method.

 
2.8

Finance costs

Finance costs are charged to the Profit and Loss Account over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.9

Borrowing costs

All borrowing costs are recognised in the Profit and Loss Account in the year in which they are incurred.

 
2.10

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in the Profit and Loss Account when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.11

Taxation

Tax is recognised in the Profit and Loss Account except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.12

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
WARNER TEXTILE MACHINERY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)


2.12
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Improvements to leasehold property
-
10% straight-line per annum
Fixtures, fitting and equipment
-
20% straight-line per annum
Motor vehicles
-
25% straight-line per annum

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Profit and Loss Account.

 
2.13

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Profit and Loss Account.

 
2.14

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at transaction price, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.15

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.16

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at transaction price, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.17

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Page 6

 
WARNER TEXTILE MACHINERY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

2.Accounting policies (continued)


2.17
Financial instruments (continued)

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at transaction price net of transaction costs and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small Company, or a public benefit entity concessionary loan.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2023: 2).

Page 7

 
WARNER TEXTILE MACHINERY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

4.


Tangible fixed assets





Improve-ments to leasehold property
Fixtures, fittings and equipment
Motor vehicles
Total

£
£
£
£



Cost or valuation


At 1 September 2023
12,085
23,906
6,500
42,491



At 31 August 2024

12,085
23,906
6,500
42,491



Depreciation


At 1 September 2023
11,890
20,344
6,500
38,734


Charge for the year
132
787
-
919



At 31 August 2024

12,022
21,131
6,500
39,653



Net book value



At 31 August 2024
63
2,775
-
2,838



At 31 August 2023
195
3,562
-
3,757


5.


Debtors

2024
2023
£
£


Trade debtors
161,377
53,437

Other debtors
2,981
49,739

Prepayments and accrued income
19,317
17,228

Corporation tax and S455 tax recoverable
847
4,528

184,522
124,932


Page 8

 
WARNER TEXTILE MACHINERY LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,299
10,045

Trade creditors
47,609
123,973

Corporation tax
280
5,260

Other taxation and social security
12,481
1,183

Other creditors
32,085
27,867

Amounts due to a related party
94,271
38,747

Accruals and deferred income
5,372
6,555

202,397
213,630



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
7,949
18,248

7,949
18,248



8.


Transactions with directors

At 1 September 2023 a director owed the Company £3,125. During the year, advances of £30,168 and repayments of £30,658 were made, leaving a balance of £2,635 due by the director at the year end. This balance is included in other debtors. Interest was charged at the HMRC official rate.


9.


Related party transactions

At 1 September 2023, S E Warner, the father of N E Warner and A Warner, was owed £27,867 by the Company. During the year, loans totalling £9,000 were made from S E Warner, repayments totalling £Nil were made to S E Warner, leaving £18,867 owed to S E Warner at the year end.
During the year, rent of £20,880 (2023: £20,880) was paid to WTM Properties (Leicester) Ltd, a related undertaking. At 31 August 2024 the Company owed £94,271 (2023: £38,747) to WTM Properties (Leicester) Limited, this balance is included in creditors. During the year, the Company was advanced a loan of £50,358 and a repayment of £3,000 was received in respect of this loan. The Company also incurred other transactions and received money in respect of this Company totalling £8,166.
All the above balances were interest free.

 
Page 9