Silverfin false 31/03/2023 01/04/2022 31/03/2023 P Langford 20/03/2013 B G Walker 20/03/2013 22 November 2023 The principal activity of the Company during the financial year was the buying and selling of own real estate. 08452971 2023-03-31 08452971 bus:Director1 2023-03-31 08452971 bus:Director2 2023-03-31 08452971 2022-03-31 08452971 core:CurrentFinancialInstruments 2023-03-31 08452971 core:CurrentFinancialInstruments 2022-03-31 08452971 core:ShareCapital 2023-03-31 08452971 core:ShareCapital 2022-03-31 08452971 core:RetainedEarningsAccumulatedLosses 2023-03-31 08452971 core:RetainedEarningsAccumulatedLosses 2022-03-31 08452971 core:OfficeEquipment 2022-03-31 08452971 core:OfficeEquipment 2023-03-31 08452971 bus:OrdinaryShareClass1 2023-03-31 08452971 2022-04-01 2023-03-31 08452971 bus:FullAccounts 2022-04-01 2023-03-31 08452971 bus:SmallEntities 2022-04-01 2023-03-31 08452971 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 08452971 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 08452971 bus:Director1 2022-04-01 2023-03-31 08452971 bus:Director2 2022-04-01 2023-03-31 08452971 core:OfficeEquipment core:TopRangeValue 2022-04-01 2023-03-31 08452971 2021-04-01 2022-03-31 08452971 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 08452971 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 08452971 (England and Wales)

LANGFORD WALKER LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

LANGFORD WALKER LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

LANGFORD WALKER LIMITED

BALANCE SHEET

As at 31 March 2023
LANGFORD WALKER LIMITED

BALANCE SHEET (continued)

As at 31 March 2023
Note 2023 2022
£ £
Current assets
Stocks 5 367,198 345,519
Debtors 6 60 453
Cash at bank and in hand 7,478 6,931
374,736 352,903
Creditors: amounts falling due within one year 7 ( 551,355) ( 521,213)
Net current liabilities (176,619) (168,310)
Total assets less current liabilities (176,619) (168,310)
Net liabilities ( 176,619) ( 168,310)
Capital and reserves
Called-up share capital 8 100 100
Profit and loss account ( 176,719 ) ( 168,410 )
Total shareholders' deficit ( 176,619) ( 168,310)

For the financial 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 financial statements of Langford Walker Limited (registered number: 08452971) were approved and authorised for issue by the Director on 22 November 2023. They were signed on its behalf by:

B G Walker
Director
LANGFORD WALKER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
LANGFORD WALKER LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Langford Walker Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Suite 31 Press House Crest View Drive, Petts Wood, Orpington, BR5 1FE, England, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have confirmed that they will continue to provide ongoing support to the company such that it can continue to pay its creditors as they fall due. The directors therefore feel it is appropriate to prepare the accounts on a going concern basis.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
- The amount of revenue can be reliably measured;
- it is probable that future economic benefits will flow to the entity;
- and specific criteria have been met for each of the company's activities.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Office equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Leases

The Company as lessee
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Trade and other debtors

Trade and other debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment, except where the effect of discounting would be immaterial. In such cases debtors are stated at transaction price less impairment losses. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the transaction.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade and other creditors

Trade and other creditors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, except where the effect of discounting would be immaterial. In such cases creditors are stated at transaction price.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Financial assets are classified as financial assets at fair value through profit or loss, loans and debtors, held-to-maturity investments, available-for-sale financial assets, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial assets at initial recognition.

Financial liabilities are classified as financial liabilities at fair value through profit and loss, loans and borrowings, trade and other creditors, or as derivatives designated as hedging instruments in an effective hedge, as appropriate. The company determines the classification of its financial liabilities at initial recognition.

Impairment
Financial assets are assessed for indicators of impairment at the end of each reporting period. Financial assets are considered to be impaired when there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows of the investment have been affected.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

Work in progress

Work in progress is 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 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, work in progress are assessed for impairment. If 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.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historic experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

Specifically, judgements and estimates are used in determining the valuation of work in progress and the recoverability of debtors.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

3. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

4. Tangible assets

Office equipment Total
£ £
Cost
At 01 April 2022 15,035 15,035
At 31 March 2023 15,035 15,035
Accumulated depreciation
At 01 April 2022 15,035 15,035
At 31 March 2023 15,035 15,035
Net book value
At 31 March 2023 0 0
At 31 March 2022 0 0

5. Stocks

2023 2022
£ £
Work in progress 367,198 345,519

Work in progress represents the value of development sites, in the planning process, which are not yet complete.

6. Debtors

2023 2022
£ £
Other debtors 60 453

7. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 15,310 17,668
Amounts owed to Group undertakings 152,750 139,000
Other creditors 383,295 364,545
551,355 521,213

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

9. Related party transactions

Transactions with the entity's directors

B G Walker
(Director)
B G Walker has provides the company with an interest free loan. At the balance sheet date the amount due to B G Walker was £119,075 (2022 - £119,075).

Two companies controlled by B G Walker have provided the company with further interest free loans totalling £152,750.

P Langford
(Director)
P Langford has provided the company with an interest free loan. At the balance sheet date the amount due to P Langford was £261,220 (2022 - £242,470).