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REGISTERED NUMBER: 04336251 (England and Wales)













FINANCIAL STATEMENTS

FOR THE PERIOD

1 JANUARY 2022 TO 30 DECEMBER 2022

FOR

WALLIS & BEARD LTD

WALLIS & BEARD LTD (REGISTERED NUMBER: 04336251)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JANUARY 2022 TO 30 DECEMBER 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


WALLIS & BEARD LTD

COMPANY INFORMATION
FOR THE PERIOD 1 JANUARY 2022 TO 30 DECEMBER 2022







DIRECTORS: Mr P Beard
Mr R J S Wallis
Mr B Wilson



SECRETARY: Mr P Beard



REGISTERED OFFICE: 1 Brooking
Dartington
Totnes
Devon
TQ9 6DR



REGISTERED NUMBER: 04336251 (England and Wales)



ACCOUNTANTS: Marsland Nash Associates
Chartered Tax Advisers, Accountants
and Business Consultants
Vantage Point House
Silverhills Road
Decoy Industrial Estate
Newton Abbot
Devon
TQ12 5ND



BANKERS: Lloyds
31 Fore Street
Totnes
Devon
TQ9 5HH

WALLIS & BEARD LTD (REGISTERED NUMBER: 04336251)

BALANCE SHEET
30 DECEMBER 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,607 10,107

CURRENT ASSETS
Stocks 5 350 350
Debtors 6 85,499 97,447
Cash at bank 12,102 102,394
97,951 200,191
CREDITORS
Amounts falling due within one year 7 43,784 125,269
NET CURRENT ASSETS 54,167 74,922
TOTAL ASSETS LESS CURRENT LIABILITIES 61,774 85,029

PROVISIONS FOR LIABILITIES 1,445 1,920
NET ASSETS 60,329 83,109

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 60,229 83,009
SHAREHOLDERS' FUNDS 60,329 83,109

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 December 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 December 2022 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 3 November 2023 and were signed on its behalf by:



Mr R J S Wallis - Director


WALLIS & BEARD LTD (REGISTERED NUMBER: 04336251)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 JANUARY 2022 TO 30 DECEMBER 2022


1. STATUTORY INFORMATION

Wallis & Beard 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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% 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 period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 period 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 3 (2021 - 3 ) .

WALLIS & BEARD LTD (REGISTERED NUMBER: 04336251)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2022 TO 30 DECEMBER 2022


4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 January 2022
and 30 December 2022 6,241 19,000 25,241
DEPRECIATION
At 1 January 2022 5,697 9,437 15,134
Charge for period 109 2,391 2,500
At 30 December 2022 5,806 11,828 17,634
NET BOOK VALUE
At 30 December 2022 435 7,172 7,607
At 31 December 2021 544 9,563 10,107

5. STOCKS
2022 2021
£    £   
Stocks 350 350

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 39,391 1,702
Amounts recoverable on contract 40,796 87,378
VAT 5,312 5,255
Prepayments - 3,112
85,499 97,447

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 3,099 14,200
Tax 7,415 12,698
Other creditors - 2,600
Directors' current accounts 27,825 85,358
Accrued expenses 5,445 10,413
43,784 125,269

WALLIS & BEARD LTD (REGISTERED NUMBER: 04336251)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 JANUARY 2022 TO 30 DECEMBER 2022


8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended 30 December 2022 and the year ended 31 December 2021:

2022 2021
£    £   
Mr P Beard
Balance outstanding at start of period (42,044 ) (48,718 )
Amounts advanced 63,068 49,696
Amounts repaid (29,874 ) (43,022 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period (8,850 ) (42,044 )

Mr R J S Wallis
Balance outstanding at start of period (42,043 ) (48,717 )
Amounts advanced 67,696 49,696
Amounts repaid (43,357 ) (43,022 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period (17,704 ) (42,043 )

Mr B Wilson
Balance outstanding at start of period (1,271 ) (1,273 )
Amounts advanced - 2
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period (1,271 ) (1,271 )

9. RELATED PARTY DISCLOSURES

During the period, total dividends of £48,500 (2021 - £58,900) were paid to the directors .

Loans are unsecured and repayable on demand. Interest is charged at 10% in the year on credit loan balances.