Registration number: NI003087

Warden Brothers (Newtownards) Limited

Contents

Company Information	1
Balance Sheet	2 to 3
Notes to the Unaudited Financial Statements	4 to 10

Warden Brothers (Newtownards) Limited

Company Information

Directors

Ms Jane Campbell Mr Keith Irvine

Registered office

45 - 47 High Street Newtownards BT23 7HS

Solicitors

Thompson Solicitors 39 Frances Street Newtownards Co. Down BT23 7DW

Accountants

McKeague Morgan & Company Chartered Accountants27 College Gardens Belfast BT9 6BS

Warden Brothers (Newtownards) Limited

(Registration number: NI003087)
Balance Sheet as at 31 January 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	810,001	801,535
Current assets
Stocks	6	724,746	786,873
Debtors	7	100,032	63,655
Other financial assets	5	1,075,475	961,296
Cash at bank and in hand		1,450,188	1,524,037
		3,350,441	3,335,861
Creditors: Amounts falling due within one year	8	(652,226)	(609,147)
Net current assets		2,698,215	2,726,714
Total assets less current liabilities		3,508,216	3,528,249
Provisions for liabilities		(58,279)	(52,300)
Net assets		3,449,937	3,475,949
Capital and reserves
Called up share capital		30,835	30,835
Capital redemption reserve		16,666	16,666
Revaluation reserve		85,000	85,000
Profit and loss account		3,317,436	3,343,448
Total equity		3,449,937	3,475,949

For the financial year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Warden Brothers (Newtownards) Limited

(Registration number: NI003087)
Balance Sheet as at 31 January 2025

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the Board on 28 October 2025 and signed on its behalf by:
 

.........................................

Ms Jane Campbell
Director

Warden Brothers (Newtownards) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

1	General information

The company is a private company limited by share capital, incorporated in the United Kingdom.

The address of its registered office is:
45 - 47 High Street
Newtownards
BT23 7HS

These financial statements were authorised for issue by the Board on 28 October 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Warden Brothers (Newtownards) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

2	Accounting policies (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Land and buildings	2% straight line
Fixtures, fittings and equipment	20% straight line
Motor vehicles	25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the weighted average method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Warden Brothers (Newtownards) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

2	Accounting policies (continued)

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 42 (2024 - 45).

Warden Brothers (Newtownards) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Motor vehicles  £	Investment property  £	Total £
Cost or valuation
At 1 February 2024	552,073	364,959	15,950	395,000	1,327,982
Additions	-	61,191	-	-	61,191
At 31 January 2025	552,073	426,150	15,950	395,000	1,389,173
Depreciation
At 1 February 2024	181,563	328,934	15,950	-	526,447
Charge for the year	26,124	26,601	-	-	52,725
At 31 January 2025	207,687	355,535	15,950	-	579,172
Carrying amount
At 31 January 2025	344,386	70,615	-	395,000	810,001
At 31 January 2024	370,510	36,025	-	395,000	801,535

Included within the net book value of land and buildings above is £11,209 (2024 - £12,330) in respect of freehold land and buildings, £276,750 (2024 - £282,900) in respect of long leasehold land and buildings and £56,427 (2024 - £75,280) in respect of short leasehold land and buildings.

Revaluations
The Investment properties class of fixed assets were revalued on 10 March 2020 by Lindsay Fyfe and Company Estate Agents, who are external to the company. The basis of this valuation was at open market value. This class of assets has a current value of £395,000 (2022 - £395,000).
 

Warden Brothers (Newtownards) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

5	Other financial assets (current and non-current)

	Financial assets at fair value through profit and loss £	Total £
Current financial assets
Cost or valuation
At 1 February 2024	961,296	961,296
Fair value adjustments	101,273	101,273
Additions	170,837	170,837
Disposals	(153,216)	(153,216)
Transfers	(4,715)	(4,715)
At 31 January 2025	1,075,475	1,075,475
Carrying amount
At 31 January 2025	1,075,475	1,075,475

6

Stocks

	2025 £	2024 £
Goods for resale	724,746	786,873

7

Debtors

	2025 £	2024 £
Trade debtors	11,785	4,413
Prepayments	73,014	59,242
Other debtors	15,233	-
	100,032	63,655

Warden Brothers (Newtownards) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

8

Creditors

	2025 £	2024 £
Trade creditors	165,956	144,439
Corporation tax liability	-	13,733
Taxation and social security	90,985	88,082
Other creditors	5,849	6,798
Loans from directors	333	333
Accruals and deferred income	389,103	355,762
	652,226	609,147

9	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary of £1 each	13,334	13,334	13,334	13,334
Preference of £1 each	17,501	17,501	17,501	17,501
	30,835	30,835	30,835	30,835

Warden Brothers (Newtownards) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

10	Financial instruments

Categorisation of financial instruments

	2025  £	2024  £
Financial assets measured at fair value through profit or loss	1,075,475	961,296

Financial assets measured at fair value

Investment bond
The fair value has been determined from the quoted market value of the underlying securities.

The fair value is £1,075,475 (2024 - £961,296) and the change in value included in profit or loss is £101,273 (2024 - £28,512).