REGISTERED NUMBER: 04487406 (England and Wales)

Warings Furniture Limited

Unaudited Financial Statements

for the year ended

31 December 2025

Page

Balance Sheet

1

to

2

Notes to the Financial Statements

3

to

8

FIXED ASSETS

Tangible assets

4

1,781,070

1,713,632

CURRENT ASSETS

Stocks

1,220,596

1,589,567

Debtors

5

1,048,063

853,295

Cash at bank

960,565

108,213

3,229,224

2,551,075

CREDITORS

Amounts falling due within one year

6

(1,559,780

)

(1,435,656

)

NET CURRENT ASSETS

1,669,444

1,115,419

TOTAL ASSETS LESS CURRENT LIABILITIES

3,450,514

2,829,051

CREDITORS

Amounts falling due after more than one year

7

(406,958

)

(357,268

)

PROVISIONS FOR LIABILITIES

(172,960

)

(157,011

)

NET ASSETS

2,870,596

2,314,772

CAPITAL AND RESERVES

Called up share capital

1,500

1,500

Retained earnings

2,869,096

2,313,272

2,870,596

2,314,772

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2025 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 23 September 2026 and were signed on its behalf by:

R Waring - Director

1.	STATUTORY INFORMATION

Warings Furniture Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

04487406

Registered office:

The Furniture Station

Watton Road

Larling

Norfolk

NR16 2RA

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

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

Freehold property

-

1% - 10% on cost

Short leasehold

-

1% - 10% on cost

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

20% on cost

Land is not depreciated.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Research and development

Expenditure on research and development is written off in the year in which it is incurred.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 77 (2024 - 67 ) .

4.	TANGIBLE FIXED ASSETS

Freehold

Short

Plant and

property

leasehold

machinery

£

£

£

COST

At 1 January 2025

796,062

1,191,763

961,833

Additions

-

14,586

102,983

Disposals

-

-

(3,441

)

Reclassification

-

-

26,950

At 31 December 2025

796,062

1,206,349

1,088,325

DEPRECIATION

At 1 January 2025

64,851

777,670

699,319

Charge for year

2,227

59,280

58,280

Eliminated on disposal

-

-

(57

)

Reclassification

-

-

10,780

At 31 December 2025

67,078

836,950

768,322

NET BOOK VALUE

At 31 December 2025

728,984

369,399

320,003

At 31 December 2024

731,211

414,093

262,514

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 January 2025

17,467

713,993

123,245

3,804,363

Additions

-

199,196

7,829

324,594

Disposals

-

(154,922

)

-

(158,363

)

Reclassification

-

-

(16,170

)

10,780

At 31 December 2025

17,467

758,267

114,904

3,981,374

DEPRECIATION

At 1 January 2025

16,294

441,171

91,426

2,090,731

Charge for year

234

100,757

6,365

227,143

Eliminated on disposal

-

(128,293

)

-

(128,350

)

Reclassification

-

-

-

10,780

At 31 December 2025

16,528

413,635

97,791

2,200,304

NET BOOK VALUE

At 31 December 2025

939

344,632

17,113

1,781,070

At 31 December 2024

1,173

272,822

31,819

1,713,632

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

Short

Plant and

Motor

Computer

leasehold

machinery

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2025

210,755

138,347

389,264

-

738,366

Additions

-

56,875

199,196

-

256,071

Disposals

-

-

(89,895

)

-

(89,895

)

Transfer to ownership

(210,755

)

(138,347

)

-

-

(349,102

)

Reclassification

-

-

-

10,780

10,780

At 31 December 2025

-

56,875

498,565

10,780

566,220

DEPRECIATION

At 1 January 2025

53,216

67,031

227,514

-

347,761

Charge for year

21,075

14,263

94,607

-

129,945

Eliminated on disposal

-

-

(70,254

)

-

(70,254

)

Transfer to ownership

(74,291

)

(81,294

)

(79,930

)

-

(235,515

)

At 31 December 2025

-

-

171,937

-

171,937

NET BOOK VALUE

At 31 December 2025

-

56,875

326,628

10,780

394,283

At 31 December 2024

157,539

71,316

161,750

-

390,605

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

969,634

464,322

Directors' current accounts

-

47,749

Prepayments and accrued income

78,429

341,224

1,048,063

853,295

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

14,822

12,936

Hire purchase contracts

123,344

170,270

Trade creditors

444,873

464,330

Corporation tax

290,656

227,310

Social security and other taxes

52,303

41,390

VAT

481,448

413,528

Other creditors

24,866

14,279

Directors' current accounts

20,015

-

Accruals and deferred income

24,927

91,613

Accrued expenses

82,526

-

1,559,780

1,435,656

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 1-2 years

14,822

25,872

Bank loans more 5 yr by instal

189,499

195,157

Hire purchase contracts

202,637

136,239

406,958

357,268

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

189,499

195,157

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2025 and 31 December 2024:

2025

2024

£

£

R Waring and G Waring

Balance outstanding at start of year

47,749

-

Amounts advanced

-

47,749

Amounts repaid

(47,749

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

47,749

Interest has been charged on loans to directors at the official rate.

9.	RELATED PARTY DISCLOSURES