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COMPANY REGISTRATION NUMBER: 07590267
Gannaway Walker Limited
Filleted Unaudited Financial Statements
31 March 2023
Gannaway Walker Limited
Financial Statements
Year ended 31 March 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Gannaway Walker Limited
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
Fixed assets
Investments
5
192,622
160,587
Current assets
Debtors
6
195,900
159,670
Cash at bank and in hand
4,037
3,986
---------
---------
199,937
163,656
Creditors: amounts falling due within one year
7
43,891
11,668
---------
---------
Net current assets
156,046
151,988
---------
---------
Total assets less current liabilities
348,668
312,575
Creditors: amounts falling due after more than one year
8
24,927
34,818
---------
---------
Net assets
323,741
277,757
---------
---------
Capital and reserves
Called up share capital
40
40
Profit and loss account
323,701
277,717
---------
---------
Shareholders funds
323,741
277,757
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 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 financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Gannaway Walker Limited
Statement of Financial Position (continued)
31 March 2023
These financial statements were approved by the board of directors and authorised for issue on 6 October 2023 , and are signed on behalf of the board by:
Mr A P Walker
Director
Company registration number: 07590267
Gannaway Walker Limited
Notes to the Financial Statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, CT1 3DN, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 3 (2022: 2 ).
5. Investments
Shares in subsidiary companies
£
Cost
At 1 April 2022
160,587
Additions
32,035
---------
At 31 March 2023
192,622
---------
Impairment
At 1 April 2022 and 31 March 2023
---------
Carrying amount
At 31 March 2023
192,622
---------
At 31 March 2022
160,587
---------
6. Debtors
2023
2022
£
£
Amounts owed by group undertakings
145,170
136,904
Other debtors
50,730
22,766
---------
---------
195,900
159,670
---------
---------
7. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
9,871
9,657
Corporation tax
1,971
Social security and other taxes
38
Other creditors
32,011
2,011
--------
--------
43,891
11,668
--------
--------
The company's creditors are secured against the assets of the company by way of a fixed and floating charge.
8. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
24,927
34,818
--------
--------
The company's creditors are secured against the assets of the company by way of a fixed and floating charge.
9. Directors' advances, credits and guarantees
During the year a director received advances of £9,730 (2022: £9,539) and made repayments of £9,730 (2022: £9,539). Interest was charged on this balance at a rate of 2%.
10. Related party transactions
At the year end the company was owed £9,925 (2022: £9,730) from a director. At the year end the company owed £461 (2022: £461) to a director. At the year end the company was owed £145,170 (2022: £136,904) from group companies. At the year end the company was owed £40,673 (2022: £13,036) from companies associated through common control and/or directorship.