Ken Warne Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 01231879 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 September 2025

for

Ken Warne Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

K A Warne

P D Warne

SECRETARY:

K A Warne

REGISTERED OFFICE:

17/19 Cleveland Terrace

DARLINGTON

Co Durham

DL3 7HD

REGISTERED NUMBER:

01231879 (England and Wales)

ACCOUNTANTS:

Clive Owen LLP

Chartered Accountants

Great North House

20 Allington Way

DARLINGTON

Co Durham

DL1 4QB

FIXED ASSETS

Intangible assets

4

-

5,250

Tangible assets

5

314,979

318,078

Investments

6

1,131

Investment property

7

400,000

716,110

724,459

CURRENT ASSETS

Stocks

8

45,999

59,840

Debtors

9

33,143

Cash at bank and in hand

373,693

497,397

452,835

590,380

CREDITORS

Amounts falling due within one year

10

(399,819

)

(493,268

)

NET CURRENT ASSETS

53,016

97,112

TOTAL ASSETS LESS CURRENT
LIABILITIES

769,126

821,571

CREDITORS

Amounts falling due after more than one
year

11

(64,954

)

(98,221

)

NET ASSETS

704,172

723,350

CAPITAL AND RESERVES

Called up share capital

13

100,000

Revaluation reserve

189,462

Retained earnings

414,710

433,888

SHAREHOLDERS' FUNDS

704,172

723,350

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 October 2026 and were signed on its behalf by:

P D Warne - Director

1.	STATUTORY INFORMATION

Ken Warne Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts with the exception of goodwill.

Turnover

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

Income recognition

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer.

Intangible assets

Goodwill, being the amount paid in connection with the acquisition of businesses in 1999, 2001 and 2014, is being written off evenly over its estimated useful life of ten years.

Franchise costs have been written off evenly over the term of the agreement, and are now fully amortised.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

not provided

Short leasehold

-

over period of the lease

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

10% on reducing balance

Freehold property is valued at fair value using revaluation model as assessed by directors at year end.

The valuations were carried out by the directors at 30 September 2016 and the directors are of the opinion that the value has not changed since.

The directors consider that the freehold property is maintained in such a state of repair that its residual value is at least equal to its net book value. As a result, the corresponding depreciation would not be material and therefore is not charged in the profit and loss account.

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.

Stocks

Stocks are valued at the lower of cost and estimated selling price less costs to sell, after making due allowance for obsolete and slow moving items.

Financial instruments

Basic financial instruments are recognised at amortised cost with changes recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Investments

Investments held as fixed assets are stated at cost less provision for any impairment in value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2024 - 11 ) .

4.	INTANGIBLE FIXED ASSETS

Franchise

Goodwill

costs

Totals

£

COST

At 1 October 2024

and 30 September 2025

137,105

1,000

138,105

AMORTISATION

At 1 October 2024

131,855

1,000

132,855

Amortisation for year

5,250

-

5,250

At 30 September 2025

137,105

1,000

138,105

NET BOOK VALUE

At 30 September 2025

-

At 30 September 2024

5,250

-

5,250

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Short

and

Motor

property

leasehold

fittings

vehicles

Totals

£

COST OR VALUATION

At 1 October 2024

297,999

68,922

46,601

33,481

447,003

Disposals

-

(30,792

)

(30,792

)

At 30 September 2025

297,999

68,922

46,601

2,689

416,211

DEPRECIATION

At 1 October 2024

-

68,922

29,211

30,792

128,925

Charge for year

-

3,099

-

3,099

Eliminated on disposal

-

(30,792

)

(30,792

)

At 30 September 2025

-

68,922

32,310

-

101,232

NET BOOK VALUE

At 30 September 2025

297,999

-

14,291

2,689

314,979

At 30 September 2024

297,999

-

17,390

2,689

318,078

Cost or valuation at 30 September 2025 is represented by:

Fixtures

Freehold

Short

and

Motor

property

leasehold

fittings

vehicles

Totals

£

Valuation in 1997

140,216

-

140,216

Valuation in 2016

49,245

-

49,245

Cost

108,538

68,922

46,601

2,689

226,750

297,999

68,922

46,601

2,689

416,211

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 October 2024

and 30 September 2025

1,131

NET BOOK VALUE

At 30 September 2025

1,131

At 30 September 2024

1,131

7.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 October 2024

and 30 September 2025

400,000

NET BOOK VALUE

At 30 September 2025

400,000

At 30 September 2024

400,000

The investment property was valued by the directors on 30 September 2025 on a fair value basis.

8.

STOCKS

2025

2024

£

Stocks

45,999

59,840

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Other debtors

30,237

Prepayments and accrued income

2,906

33,143

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Bank loans and overdrafts

40,618

48,551

Trade creditors

101,550

160,318

Taxation and social security

15,222

31,704

Other creditors

16,727

4,247

Directors' current accounts

155,352

152,098

Accruals and deferred income

70,350

96,350

399,819

493,268

11.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2025

2024

£

Bank loans - 1-2 years

21,396

40,989

Bank loans - 2-5 years

43,558

57,232

64,954

98,221

12.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

Bank loans

105,572

146,772

Bank loans and overdrafts are secured with a fixed and floating charge over the assets of the company.

13.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

100,000

Ordinary

£1

100,000

14.	RELATED PARTY DISCLOSURES

2025

2024

£

Amounts owed to directors

155,352

152,098

No interest has been charged

Included within other debtors is £30,000 owed to the company by Cleveland Properties, a partnership in which the two directors are both partners.