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Registration number: 07964189

Waltham House Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 March 2023

 

Waltham House Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Waltham House Limited

(Registration number: 07964189)
Balance Sheet as at 30 March 2023

Note

2023

2022

   

£

£

£

£

Fixed assets

   

 

Tangible assets

4

 

472

 

1,109

Current assets

   

 

Debtors

5

14,832

 

18,782

 

Cash at bank and in hand

 

29,312

 

39,843

 

 

44,144

 

58,625

 

Creditors: Amounts falling due within one year

6

(23,792)

 

(34,705)

 

Net current assets

   

20,352

 

23,920

Net assets

   

20,824

 

25,029

Capital and reserves

   

 

Called up share capital

7

100

 

100

 

Profit and loss account

20,724

 

24,929

 

Total equity

   

20,824

 

25,029

For the financial year ending 30 March 2023 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.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 September 2023 and signed on its behalf by:
 

.........................................
B Milner
Director

 

Waltham House Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unit 6, St Johns House
Clyde Street
Bingley
BD16 4LD

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 were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' Section 1A and the Companies Act 2006.

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.

The company's functional and presentation currency is pound sterling.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities.

The company recognises revenue when (a) the significant risks and rewards of ownership have been transferred to the buyer; (b) the company retains no continuing involvement or control over the goods; (c) the amount of revenue can be measured reliably and (d) it is probable that future economic benefits will flow to the entity.

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 over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

50% straight line

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.

 

Waltham House Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments


Financial assets

Basic financial assets, including trade and other receivables, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar asset. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss and any subsequent reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 13 (2022 - 18).

 

Waltham House Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2023

4

Tangible assets

Office equipment
 £

Total
£

Cost or valuation

At 31 March 2022

7,115

7,115

At 30 March 2023

7,115

7,115

Depreciation

At 31 March 2022

6,006

6,006

Charge for the year

637

637

At 30 March 2023

6,643

6,643

Carrying amount

At 30 March 2023

472

472

At 30 March 2022

1,109

1,109

5

Debtors

Current

2023
£

2022
£

Trade debtors

4,913

9,843

Prepayments

2,402

1,125

Other debtors

7,517

7,814

 

14,832

18,782

6

Creditors

2023
 £

2022
 £

Due within one year

Other current financial liabilities

19,430

23,196

Social security and other taxes

1,940

4,133

Accruals and deferred income

2,422

7,376

23,792

34,705

 

Waltham House Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 March 2023

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

         

8

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £7,500 (2022 - £13,500).

9

Related party transactions

Expenditure with and payables to related parties

2023

Key management
£

Amounts payable to related party

11,513

2022

Key management
£

Amounts payable to related party

11,513