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REGISTERED NUMBER: 08509080 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

WALNE EVENTS LTD

WALNE EVENTS LTD (REGISTERED NUMBER: 08509080)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WALNE EVENTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTORS: W A Walne
J J Walne





REGISTERED OFFICE: Unit 7 Manor Park
Green Lane West
Garstang
Preston
Lancashire
PR3 1NJ





REGISTERED NUMBER: 08509080 (England and Wales)





ACCOUNTANTS: Wallwork Nelson & Johnson
Chandler House
7 Ferry Road Office Park
Riversway
Preston
Lancashire
PR2 2YH

WALNE EVENTS LTD (REGISTERED NUMBER: 08509080)

BALANCE SHEET
28 FEBRUARY 2023

28/2/23 28/2/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 291,285 220,338

CURRENT ASSETS
Stocks 10,000 7,500
Debtors 5 449,250 161,067
Cash at bank and in hand 140,898 418,285
600,148 586,852
CREDITORS
Amounts falling due within one year 6 492,496 603,150
NET CURRENT ASSETS/(LIABILITIES) 107,652 (16,298 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

398,937

204,040

CREDITORS
Amounts falling due after more than one
year

7

(40,995

)

(2,299

)

PROVISIONS FOR LIABILITIES 8 (70,321 ) (39,964 )
NET ASSETS 287,621 161,777

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 287,521 161,677
287,621 161,777

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 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.

WALNE EVENTS LTD (REGISTERED NUMBER: 08509080)

BALANCE SHEET - continued
28 FEBRUARY 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 November 2023 and were signed on its behalf by:





W A Walne - Director


WALNE EVENTS LTD (REGISTERED NUMBER: 08509080)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Walne Events Ltd 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.

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

Tangible fixed assets
Tangible fixed assets are stated at cost less accumulated depreciation and any provision for impairment in value.

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

Land and buildings- not depreciated
Fixtures and fittings- 10% on reducing balance
Motor vehicles- 10% on reducing balance


Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

WALNE EVENTS LTD (REGISTERED NUMBER: 08509080)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

2. ACCOUNTING POLICIES - continued

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.

Going concern
The Directors believe that the company has sufficient trade and financial resources to continue in operational existence for the foreseeable future. Thus the going concern basis of accounting in preparing the annual financial statements has been adopted.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2022 - 18 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 March 2022 10,000 160,488 144,328 314,816
Additions - 115,904 88,490 204,394
Disposals - (176,515 ) - (176,515 )
At 28 February 2023 10,000 99,877 232,818 342,695
DEPRECIATION
At 1 March 2022 - 61,772 32,706 94,478
Charge for year - 1,549 17,155 18,704
Eliminated on disposal - (61,772 ) - (61,772 )
At 28 February 2023 - 1,549 49,861 51,410
NET BOOK VALUE
At 28 February 2023 10,000 98,328 182,957 291,285
At 28 February 2022 10,000 98,716 111,622 220,338

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28/2/23 28/2/22
£    £   
Trade debtors 46,656 16,257
Other debtors 288,995 42,795
Directors' current accounts 102,959 102,015
VAT 10,640 -
449,250 161,067

WALNE EVENTS LTD (REGISTERED NUMBER: 08509080)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28/2/23 28/2/22
£    £   
Bank loans and overdrafts 39,948 127,386
Hire purchase contracts 3,735 11,151
Tax 73,022 26,780
Social security and other taxes 24,921 15,648
VAT - 6,208
Other creditors 310,000 410,000
Accrued expenses 40,870 5,977
492,496 603,150

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28/2/23 28/2/22
£    £   
Bank loans - 1-2 years 18,220 -
Bank loans - 2-5 years 22,775 -
Hire purchase contracts - 2,299
40,995 2,299

8. PROVISIONS FOR LIABILITIES
28/2/23 28/2/22
£    £   
Deferred tax 70,321 39,964

Deferred
tax
£   
Balance at 1 March 2022 39,964
Provided during year 30,357
Balance at 28 February 2023 70,321

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 28 February 2023 and 28 February 2022:

28/2/23 28/2/22
£    £   
W A Walne and J J Walne
Balance outstanding at start of year 102,015 75,840
Amounts advanced 150,944 110,175
Amounts repaid (150,000 ) (84,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 102,959 102,015

Interest is charged on overdrawn Director's Loan Accounts at the official HMRC rates applicable.