Warrington Property Maintenance Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: SC230346 (Scotland)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

WARRINGTON PROPERTY MAINTENANCE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

W Warrington

D Warrington

C Warrington

A Warrington

SECRETARY:

D Warrington

REGISTERED OFFICE:

Eadgyth House

1a Sibbalds Brae

Bathgate

West Lothian

EH48 2DU

REGISTERED NUMBER:

SC230346 (Scotland)

ACCOUNTANTS:

Haines Watts

Business Advisors and Accountants

Q Court

3 Quality Street

Edinburgh

EH4 5BP

FIXED ASSETS

Tangible assets

4

75,421

81,889

Investment property

5

1,654,112

1,729,533

1,736,001

CURRENT ASSETS

Debtors

6

415,294

269,264

Cash at bank and in hand

100

91,503

415,394

360,767

CREDITORS

Amounts falling due within one year

7

257,047

274,692

NET CURRENT ASSETS

158,347

86,075

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,887,880

1,822,076

CREDITORS

Amounts falling due after more than one
year

8

(506,624

)

(480,987

)

PROVISIONS FOR LIABILITIES

11

(182,561

)

(183,417

)

NET ASSETS

1,198,695

1,157,672

CAPITAL AND RESERVES

Called up share capital

100

Non distributable reserve

643,739

Retained earnings

554,856

513,833

1,198,695

1,157,672

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 September 2025 and were signed on its behalf by:

D Warrington - Director

1.	STATUTORY INFORMATION

Warrington Property Maintenance Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

TURNOVER

Turnover is measured at the fair value of the consideration received or receivable, excluding value added tax, for the provision of property refurbishment and construction services.

Other income represents rents received during the year.

TANGIBLE FIXED ASSETS

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% per annum reducing balance

Motor vehicles

-

20% per annum reducing balance

Computer equipment

-

33% per annum on cost

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the asset capable of operating as intended. The carrying values of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

IMPAIRMENT OF ASSETS

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

INVESTMENT PROPERTY

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows 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 financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

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 Statement of comprehensive income.

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.

TAXATION

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

HIRE PURCHASE AND LEASING COMMITMENTS

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

PENSION COSTS AND OTHER POST-RETIREMENT BENEFITS

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 12 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

COST

At 1 October 2023

294,065

415,609

9,201

718,875

Additions

-

11,995

-

11,995

At 30 September 2024

294,065

427,604

9,201

730,870

DEPRECIATION

At 1 October 2023

265,174

363,640

8,172

636,986

Charge for year

5,778

12,190

495

18,463

At 30 September 2024

270,952

375,830

8,667

655,449

NET BOOK VALUE

At 30 September 2024

23,113

51,774

534

75,421

At 30 September 2023

28,891

51,969

1,029

81,889

Tangible fixed assets with a carrying value of £75,421 (2023: £81,889) have been pledged as security for the company's debt.

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 October 2023

43,241

Additions

11,995

Transfer to ownership

(19,386

)

At 30 September 2024

35,850

DEPRECIATION

At 1 October 2023

20,196

Charge for year

6,405

Transfer to ownership

(14,304

)

At 30 September 2024

12,297

NET BOOK VALUE

At 30 September 2024

23,553

At 30 September 2023

23,045

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 October 2023

and 30 September 2024

1,654,112

NET BOOK VALUE

At 30 September 2024

1,654,112

At 30 September 2023

1,654,112

Fair value at 30 September 2024 is represented by:

£

Valuation in 2018

336,858

Valuation in 2022

480,000

Cost

837,254

1,654,112

Investment property was valued on an open market basis on 22 June 2022 by DM Hall .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

166,845

147,684

Other debtors

248,449

121,580

415,294

269,264

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Bank loans and overdrafts

44,688

59,405

Hire purchase contracts (see note 9)

4,256

6,966

Trade creditors

62,106

94,710

Taxation and social security

114,860

88,168

Other creditors

31,137

25,443

257,047

274,692

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2024

2023

£

Bank loans

498,625

477,127

Hire purchase contracts (see note 9)

7,999

3,860

506,624

480,987

9.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2024

2023

£

Net obligations repayable:

Within one year

4,256

6,966

Between one and five years

7,999

3,860

12,255

10,826

10.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

Bank overdraft

13,475

-

Bank loans

529,838

536,532

Hire purchase contracts

12,255

10,826

555,568

547,358

The Royal Bank of Scotland holds various standard securities and floating charge over the assets of the company.

11.	PROVISIONS FOR LIABILITIES

2024

2023

£

Deferred tax

Accelerated capital allowances

12,636

13,492

Investment property

revaluation

169,925

182,561

183,417

Deferred

tax

£

Balance at 1 October 2023

183,417

Credit to Income Statement during year

(856

)

Balance at 30 September 2024

182,561

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2024 and 30 September 2023:

2024

2023

£

W Warrington

Balance outstanding at start of year

42,602

21,630

Amounts advanced

18,942

40,972

Amounts repaid

(30,000

)

(20,000

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

31,544

42,602

D Warrington

Balance outstanding at start of year

16,410

(9,618

)

Amounts advanced

93,193

176,118

Amounts repaid

(50,000

)

(150,090

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

59,603

16,410

C Warrington

Balance outstanding at start of year

43,711

(18,789

)

Amounts advanced

42,458

62,500

Amounts repaid

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

86,169

43,711

Interest of 2.25% is charged on overdrawn directors' balances where the loan has exceeded £10,000.