Walters Regeneration Limited 04833556 false 2022-03-01 2023-02-28 2023-02-28 The principal activity of the company is the development of building projects. Digita Accounts Production Advanced 6.30.9574.0 true true 04833556 2022-03-01 2023-02-28 04833556 2023-02-28 04833556 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2023-02-28 04833556 core:RetainedEarningsAccumulatedLosses 2023-02-28 04833556 core:ShareCapital 2023-02-28 04833556 core:CurrentFinancialInstruments 2023-02-28 04833556 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 04833556 bus:SmallEntities 2022-03-01 2023-02-28 04833556 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 04833556 bus:FullAccounts 2022-03-01 2023-02-28 04833556 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 04833556 bus:RegisteredOffice 2022-03-01 2023-02-28 04833556 bus:CompanySecretaryDirector1 2022-03-01 2023-02-28 04833556 bus:Director1 2022-03-01 2023-02-28 04833556 bus:Director2 2022-03-01 2023-02-28 04833556 bus:Director5 2022-03-01 2023-02-28 04833556 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2022-03-01 2023-02-28 04833556 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 04833556 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2022-03-01 2023-02-28 04833556 countries:EnglandWales 2022-03-01 2023-02-28 04833556 2021-03-01 2022-02-28 04833556 2022-02-28 04833556 bus:OrdinaryShareClass1 bus:Non-cumulativeNon-redeemableShares 2022-02-28 04833556 core:RetainedEarningsAccumulatedLosses 2022-02-28 04833556 core:ShareCapital 2022-02-28 04833556 core:CurrentFinancialInstruments 2022-02-28 04833556 core:CurrentFinancialInstruments core:WithinOneYear 2022-02-28 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 04833556

Walters Regeneration Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2023

 

Walters Regeneration Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Walters Regeneration Limited

Company Information

Directors

Mr D Thursfield

Mr V Zarifian

Mr M E R Llewellyn

Mrs S C Llewellyn

Company secretary

Mr M E R Llewellyn

Registered office

Hirwaun House
Hirwaun Industrial Estate
Hirwaun
Aberdare
Rhondda Cynon Taf
CF44 9UL

 

Walters Regeneration Limited

(Registration number: 04833556)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Current assets

 

Stocks

4

602,139

600,544

Debtors

5

162,417

162,526

Cash at bank and in hand

 

17,197

18,704

 

781,753

781,774

Creditors: Amounts falling due within one year

6

(1,124,585)

(1,121,714)

Net liabilities

 

(342,832)

(339,940)

Capital and reserves

 

Called up share capital

7

99

99

Retained earnings

(342,931)

(340,039)

Shareholders' deficit

 

(342,832)

(339,940)

For the financial year ending 28 February 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 and the option not to file the Income Statement has been taken.

Approved and authorised by the Board on 6 October 2023 and signed on its behalf by:
 

.........................................
Mr M E R Llewellyn
Company secretary and director

 

Walters Regeneration Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 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:
Hirwaun House
Hirwaun Industrial Estate
Hirwaun
Aberdare
Rhondda Cynon Taf
CF44 9UL
Wales

These financial statements were authorised for issue by the Board on 6 October 2023.

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.

The presentation currency of the financial statements is the Pound Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern

The financial statements have been prepared on a going concern basis. The directors have considered the assets and liabilities of the company and are of the opinion that the company will continue to meet its liabilities as they fall due, with the financial support of its directors and G Walters (Holdings) Limited and its subsidiaries. The nature of the company's business is such that expenses will be incurred before any income can be realised. The directors are satisfied that the company is a going concern.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) 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.

 

Walters Regeneration Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2022 - 0).

4

Stocks

2023
£

2022
£

Other inventories

602,139

600,544

5

Debtors

Current

2023
£

2022
£

Other debtors

162,417

162,526

 

Walters Regeneration Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

6

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

2,346

-

Accruals and deferred income

525

2,500

Other creditors

1,121,714

1,119,214

1,124,585

1,121,714

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

99

99

99

99

         

8

Related party transactions

Other transactions with directors

The director Mr V Zarifian loaned the company £192,005 in an earlier year. The loan bears no interest and is repayable on demand. £192,005 was outstanding to the director at the year end (2022: £192,005).

The director Mr D Thursfield loaned the company £202,005 in an earlier year. The loan bears no interest and is repayable on demand. The company owed the director £202,005 at the year end (2022: £202,005).

Summary of transactions with entities with joint control or significant interest

An entity with significant influence loaned the company money in an earlier year. £207,005 was owed to the shareholder at the year end (2022: £207,005). The loans from the shareholder bear no interest and are repayable on demand.