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REGISTERED NUMBER: 02748237 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 August 2023

for

WALLAKERS LIMITED

WALLAKERS LIMITED (REGISTERED NUMBER: 02748237)

Contents of the Financial Statements
for the year ended 31 August 2023










Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


WALLAKERS LIMITED

Company Information
for the year ended 31 August 2023







Director: R D S Heald





Registered office: 69 Victoria Road
Surbiton
Surrey
KT6 4NX





Registered number: 02748237 (England and Wales)





Accountants: Haines Watts South East LLP
Chartered Accountants
Aissela
46 High Street
Esher
Surrey
KT10 9QY

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Wallakers Limited


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Wallakers Limited for the year ended 31 August 2023 which comprise the Profit and Loss Account, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Wallakers Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Wallakers Limited and state those matters that we have agreed to state to the director of Wallakers Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Wallakers Limited and its director for our work or for this report.

It is your duty to ensure that Wallakers Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Wallakers Limited. You consider that Wallakers Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Wallakers Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Haines Watts South East LLP
Chartered Accountants
Aissela
46 High Street
Esher
Surrey
KT10 9QY


1 November 2023

WALLAKERS LIMITED (REGISTERED NUMBER: 02748237)

Balance Sheet
31 August 2023

2023 2022
Notes £ £ £ £
Fixed assets
Tangible assets 4 720,000 720,000
Investments 5 10,000 10,000
730,000 730,000

Current assets
Debtors 6 2,150 2,150
Cash at bank and in hand 123,066 89,655
125,216 91,805
Creditors
Amounts falling due within one year 7 18,966 17,185
Net current assets 106,250 74,620
Total assets less current liabilities 836,250 804,620

Creditors
Amounts falling due after more than one
year

8

(192,846

)

(192,846

)

Provisions for liabilities 9 (28,122 ) (28,122 )
Net assets 615,282 583,652

Capital and reserves
Called up share capital 10 100 100
Revaluation reserve 11 320,201 320,201
Retained earnings 294,981 263,351
Shareholders' funds 615,282 583,652

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

WALLAKERS LIMITED (REGISTERED NUMBER: 02748237)

Balance Sheet - continued
31 August 2023


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 November 2023 and were signed by:





R D S Heald - Director


WALLAKERS LIMITED (REGISTERED NUMBER: 02748237)

Notes to the Financial Statements
for the year ended 31 August 2023


1. Statutory information

Wallakers 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.

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 as modified by the revaluation of certain assets.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

Turnover
Turnover represents rental income from property investments excluding VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - Not depreciated
Fixtures and fittings - 15% on cost

Investment properties are shown at their market value and not depreciated.

Surpluses and deficits arising on revaluations are credited and debited to the non distributable reserve except where the valuation is below cost and the diminution in value is not expected to be temporary.

Where a property is valued below cost and the diminution below value is not expected to be temporary, the difference between cost and valuation is debited to profit and loss account.

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Taxation
Taxation for the year comprises current tax.

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.


WALLAKERS LIMITED (REGISTERED NUMBER: 02748237)

Notes to the Financial Statements - continued
for the year ended 31 August 2023


2. Accounting policies - continued
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.

3. Employees and directors

The average number of employees during the year was NIL (2022 - NIL).

4. Tangible fixed assets
Fixtures
Long and
leasehold fittings Totals
£ £ £
Cost or valuation
At 1 September 2022
and 31 August 2023 720,000 2,306 722,306
Depreciation
At 1 September 2022
and 31 August 2023 - 2,306 2,306
Net book value
At 31 August 2023 720,000 - 720,000
At 31 August 2022 720,000 - 720,000

Cost or valuation at 31 August 2023 is represented by:

Fixtures
Long and
leasehold fittings Totals
£ £ £
Valuation in 2016 720,000 - 720,000
Cost - 2,306 2,306
720,000 2,306 722,306

5. Fixed asset investments
Other
investments
£
Cost or valuation
At 1 September 2022
and 31 August 2023 10,000
Net book value
At 31 August 2023 10,000
At 31 August 2022 10,000

WALLAKERS LIMITED (REGISTERED NUMBER: 02748237)

Notes to the Financial Statements - continued
for the year ended 31 August 2023


5. Fixed asset investments - continued

Cost or valuation at 31 August 2023 is represented by:

Other
investments
£
Valuation in 2022 10,000

If fixed asset investments had not been revalued they would have been included at the following historical cost:

2023 2022
£ £
Cost 475 475

Fixed asset investments were valued on an open market basis basis on 31 August 2022 by the director .

6. Debtors: amounts falling due within one year
2023 2022
£ £
Other debtors 2,150 2,150

7. Creditors: amounts falling due within one year
2023 2022
£ £
Taxation and social security 7,410 5,628
Other creditors 11,556 11,557
18,966 17,185

8. Creditors: amounts falling due after more than one year
2023 2022
£ £
Other creditors 192,846 192,846

9. Provisions for liabilities
2023 2022
£ £
Deferred tax 28,122 28,122

Deferred tax
£
Balance at 1 September 2022 28,122
Balance at 31 August 2023 28,122

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
100 Ordinary £1 100 100

WALLAKERS LIMITED (REGISTERED NUMBER: 02748237)

Notes to the Financial Statements - continued
for the year ended 31 August 2023


11. Reserves
Revaluation
reserve
£
At 1 September 2022
and 31 August 2023 320,201

12. Other financial commitments

A long leasehold property included in the books at a valuation of £240,000 is charged to HSBC in respect of a loan to the director of the company. These funds were lent to the company to assist with the purchase of the company.

13. Related party disclosures

At the balance sheet date the director was owed £200,258 (2022: £200,258) and the amounts due for repayment after more than one year were £192,846 (2022: £192,846). This loan is interest free and repayable on demand.