Registered number
10598069
Abbott Walsingham Limited
Filleted Accounts
28 February 2023
Abbott Walsingham Limited
Registered number: 10598069
Balance Sheet
as at 28 February 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,132 491
Current assets
Stocks 310,000 310,000
Debtors 4 168 307
Cash at bank and in hand 2,404 9,678
312,572 319,985
Creditors: amounts falling due within one year 5 (304,898) (321,260)
Net current assets/(liabilities) 7,674 (1,275)
Net assets/(liabilities) 8,806 (784)
Capital and reserves
Called up share capital 6 100 100
Profit and loss account 8,706 (884)
Shareholders' funds 8,806 (784)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
J Walsingham
Director
Approved by the board on 28 November 2023
Abbott Walsingham Limited
Notes to the Accounts
for the year ended 28 February 2023
1 Summary of significant accounting policies
Basis of preparation
The accounts have been prepared in accordance with Financial Reporting Standard 102 (FRS 102) and the Companies Act 2006 (as applicable to companies subject to the small companies regime).

The significant accounting policies applied in the preparation of these statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts. Turnover represents the amounts receivable from the sale of properties. Properties are treated as sold and profits are recognised when contract for the sales of property have reached legal completion.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment over 4 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Property in the course of development is valued at the lower of cost and net realisable value. Direct costs comprises the cost of land and buildings and associated costs, raw materials and development costs, but excludes indirect overheads. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans from directors who are also shareholders are measured at the transaction price and the exemption from measuring the loans using the amortised cost and effective method has been applied to the loans.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Fixtures, fittings, tools & equipment
£
Cost
At 1 March 2022 1,137
Additions 734
Disposals (637)
At 28 February 2023 1,234
Depreciation
At 1 March 2022 646
Charge for the year 92
On disposals (636)
At 28 February 2023 102
Net book value
At 28 February 2023 1,132
At 28 February 2022 491
4 Debtors 2023 2022
£ £
Other debtors 168 307
5 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 1,802 -
Other creditors 303,096 321,260
304,898 321,260
6 Share Capital Nominal Number 2023 2022
value 2022 £ £
Ordinary shares £1 each 100 100 100
7 Related party transactions
The directors have lent the company various funds as working capital to finance development properties. These loaned funds are interest free and repayable on demand. The directors have indicated that they will not be seeking repayment of the loans until such time as the company is in a position to do so. The amounts owed to the directors at the year end was £301,888 (2022 - £318,801).
8 Other information
Abbott Walsingham Limited is a private company limited by shares and incorporated in England. Its registered office is:
Greenwood Bracken Lane
Storrington
West Sussex
RH20 3HS
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