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REGISTERED NUMBER: 01779952 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

WALTON GLASS LIMITED

WALTON GLASS LIMITED (REGISTERED NUMBER: 01779952)

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


WALTON GLASS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTOR: P Woolley





REGISTERED OFFICE: 75 Cherry Avenue
Walton
Liverpool
Merseyside
L4 6UY





REGISTERED NUMBER: 01779952 (England and Wales)





ACCOUNTANTS: John Kerr - Chartered Accountants
375 Eaton Road
West Derby
Liverpool
Merseyside
L12 2AH

WALTON GLASS LIMITED (REGISTERED NUMBER: 01779952)

BALANCE SHEET
28 FEBRUARY 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1 1
Tangible assets 5 30,518 36,865
Investments 6 4 315,788
30,523 352,654

CURRENT ASSETS
Stocks 15,283 8,317
Debtors 7 58,386 65,356
Cash at bank and in hand 32,287 38,330
105,956 112,003
CREDITORS
Amounts falling due within one year 8 43,662 46,485
NET CURRENT ASSETS 62,294 65,518
TOTAL ASSETS LESS CURRENT
LIABILITIES

92,817

418,172

CREDITORS
Amounts falling due after more than one year 9 (140,447 ) (32,500 )

PROVISIONS FOR LIABILITIES (3,620 ) (4,736 )
NET (LIABILITIES)/ASSETS (51,250 ) 380,936

CAPITAL AND RESERVES
Called up share capital 4 4
Share premium 23,998 23,998
Retained earnings (75,252 ) 356,934
SHAREHOLDERS' FUNDS (51,250 ) 380,936

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.

WALTON GLASS LIMITED (REGISTERED NUMBER: 01779952)

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 November 2023 and were signed by:





P Woolley - Director


WALTON GLASS LIMITED (REGISTERED NUMBER: 01779952)

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


1. STATUTORY INFORMATION

Walton Glass Limited 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 - going concern
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.

The company meets its day to day working capital requirements through loans provided by the director and unrelated third party lenders. On the basis of the director's monitoring of the ongoing cash flow information and his intention to continue to provide ongoing financial support to the company, the director considers it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of the financing facilities by the director or the unrelated third party lenders.

Preparation of consolidated financial statements
The financial statements contain information about Walton Glass Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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 1983, is being amortised evenly over its estimated useful life of twenty 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 15% on reducing balance
Motor vehicles - 20% on cost

Investments in subsidiaries
Shares in group undertakings are stated at cost less provision for diminution in value.

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 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.


WALTON GLASS LIMITED (REGISTERED NUMBER: 01779952)

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


2. ACCOUNTING POLICIES - continued
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.

Pension costs
The company operates defined contribution pension schemes. Contributions payable to the company's pension schemes are charged to profit or loss in the period to which they relate.

3. EMPLOYEES

The average number of employees during the year was 5 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2022
and 28 February 2023 5,466
AMORTISATION
At 1 March 2022
and 28 February 2023 5,465
NET BOOK VALUE
At 28 February 2023 1
At 28 February 2022 1

5. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 March 2022
and 28 February 2023 23,723 16,956 44,033 84,712
DEPRECIATION
At 1 March 2022 11,784 15,888 20,175 47,847
Charge for year 474 160 5,713 6,347
At 28 February 2023 12,258 16,048 25,888 54,194
NET BOOK VALUE
At 28 February 2023 11,465 908 18,145 30,518
At 28 February 2022 11,939 1,068 23,858 36,865

WALTON GLASS LIMITED (REGISTERED NUMBER: 01779952)

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


6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 March 2022
and 28 February 2023 315,788
PROVISIONS
Provision for year 315,784
At 28 February 2023 315,784
NET BOOK VALUE
At 28 February 2023 4
At 28 February 2022 315,788

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade debtors 12,155 11,153
Amounts owed by group undertakings 39,999 50,971
Other debtors 6,232 3,232
58,386 65,356

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans 26,500 10,000
Trade creditors 5,338 6,556
Amounts owed to group undertakings 4 4
Taxation and social security 5,914 8,167
Other creditors 5,906 21,758
43,662 46,485

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans 140,447 32,500