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REGISTERED NUMBER: 04473280 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 February 2023

for

WALLIS PARTNERSHIP LTD

WALLIS PARTNERSHIP LTD (REGISTERED NUMBER: 04473280)

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


WALLIS PARTNERSHIP LTD

Company Information
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTOR: G P W Wallis





REGISTERED OFFICE: 73 Park Lane
Croydon
Surrey
CR0 1JG





REGISTERED NUMBER: 04473280 (England and Wales)





ACCOUNTANTS: Owadally & King
Chartered Certified Accountants
73 Park Lane
Croydon
Surrey
CR0 1JG

WALLIS PARTNERSHIP LTD (REGISTERED NUMBER: 04473280)

Balance Sheet
28 FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 11,020 19,042
Tangible assets 5 - 69
11,020 19,111

CURRENT ASSETS
Debtors 6 34,066 30,500
Cash at bank 4 70
34,070 30,570
CREDITORS
Amounts falling due within one year 7 89,839 81,169
NET CURRENT LIABILITIES (55,769 ) (50,599 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(44,749

)

(31,488

)

CREDITORS
Amounts falling due after more than one
year

8

10,133

13,933
NET LIABILITIES (54,882 ) (45,421 )

CAPITAL AND RESERVES
Called up share capital 250 250
Retained earnings (55,132 ) (45,671 )
SHAREHOLDERS' FUNDS (54,882 ) (45,421 )

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 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.

WALLIS PARTNERSHIP LTD (REGISTERED NUMBER: 04473280)

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 director and authorised for issue on 23 November 2023 and were signed by:





G P W Wallis - Director


WALLIS PARTNERSHIP LTD (REGISTERED NUMBER: 04473280)

Notes to the Financial Statements
FOR THE YEAR ENDED 28 FEBRUARY 2023


1. STATUTORY INFORMATION

Wallis Partnership 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.

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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Computer equipment - 33% on cost

Financial instruments
The company has elected to apply the provisions of Section 11 "Basic Financial Instruments" and Section 12 "Other Financial Instruments Issues" of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets and liabilities are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

WALLIS PARTNERSHIP LTD (REGISTERED NUMBER: 04473280)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


2. ACCOUNTING POLICIES - continued

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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Going concern
The directors consider the use of the going concern basis of accounting is appropriate because they are supporting the company financially and there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

WALLIS PARTNERSHIP LTD (REGISTERED NUMBER: 04473280)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 March 2022
and 28 February 2023 10,000 40,108 50,108
AMORTISATION
At 1 March 2022 10,000 21,066 31,066
Charge for year - 8,022 8,022
At 28 February 2023 10,000 29,088 39,088
NET BOOK VALUE
At 28 February 2023 - 11,020 11,020
At 28 February 2022 - 19,042 19,042

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2022
and 28 February 2023 3,172
DEPRECIATION
At 1 March 2022 3,103
Charge for year 69
At 28 February 2023 3,172
NET BOOK VALUE
At 28 February 2023 -
At 28 February 2022 69

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 2,676 -
Other debtors 31,390 30,500
34,066 30,500

WALLIS PARTNERSHIP LTD (REGISTERED NUMBER: 04473280)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,401 12,280
Trade creditors 3,549 1,580
Other creditors 76,889 67,309
89,839 81,169

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 10,133 13,933

9. RELATED PARTY DISCLOSURES

At the year end, the company was owed £30,930.60 (2022: £30,030.60) by Integra Voice Ltd which is owned by Mr G P W Wallis.

10. ULTIMATE CONTROLLING PARTY

The controlling party is Mr Wallis.