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REGISTERED NUMBER: 08534530 (England and Wales)










Report of the Director and

Unaudited

Consolidated Financial Statements

for the Year Ended 31 December 2022

for

Walcott Limited

Walcott Limited (Registered number: 08534530)






Contents of the Consolidated Financial Statements
for the Year Ended 31 December 2022




Page

Company Information 1

Report of the Director 2

Consolidated Income Statement 3

Consolidated Balance Sheet 4

Company Balance Sheet 6

Notes to the Consolidated Financial Statements 8


Walcott Limited

Company Information
for the Year Ended 31 December 2022







DIRECTOR: M T Viladomat





REGISTERED OFFICE: Unitec House
2 Albert Place
London
N3 1QB





REGISTERED NUMBER: 08534530 (England and Wales)





ACCOUNTANTS: Kingsley Maybrook Limited
Unitec House
2 Albert Place
London
N3 1QB

Walcott Limited (Registered number: 08534530)

Report of the Director
for the Year Ended 31 December 2022

The director presents his report with the financial statements of the company and the group for the year ended 31 December 2022.

DIRECTOR
M T Viladomat held office during the whole of the period from 1 January 2022 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





M T Viladomat - Director


19 November 2023

Walcott Limited (Registered number: 08534530)

Consolidated Income Statement
for the Year Ended 31 December 2022

31.12.22 31.12.21
Notes £    £   

TURNOVER 61,186 187,005

Cost of sales 40,109 57,612
GROSS PROFIT 21,077 129,393

Administrative expenses 188,884 207,311
OPERATING LOSS 4 (167,807 ) (77,918 )

Profit/loss on sale of invest 5 - 70,072
(167,807 ) (147,990 )

Interest receivable and similar income - 22,734
LOSS BEFORE TAXATION (167,807 ) (125,256 )

Tax on loss (12,551 ) (4,812 )
LOSS FOR THE FINANCIAL YEAR (155,256 ) (120,444 )

Loss attributable to:
Owners of the parent (155,256 ) (120,444 )

Walcott Limited (Registered number: 08534530)

Consolidated Balance Sheet
31 December 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 7 2,249,270 2,277,035
Investments 8 - -
2,249,270 2,277,035

CURRENT ASSETS
Debtors 9 470,100 98,852
Investments 10 170,539 168,987
Cash at bank 82,211 219,685
722,850 487,524
CREDITORS
Amounts falling due within one year 11 422,413 59,596
NET CURRENT ASSETS 300,437 427,928
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,549,707

2,704,963

CAPITAL AND RESERVES
Called up share capital 431,908 431,908
Retained earnings 2,117,799 2,273,055
SHAREHOLDERS' FUNDS 2,549,707 2,704,963

The company and the group are entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company and the group to obtain an audit of its financial statements for the year ended 31 December 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a) ensuring that the group 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 and the group as at the end of each financial year and of the group's 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 and the group.

Walcott Limited (Registered number: 08534530)

Consolidated Balance Sheet - continued
31 December 2022


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 19 November 2023 and were signed by:





M T Viladomat - Director


Walcott Limited (Registered number: 08534530)

Company Balance Sheet
31 December 2022

31.12.22 31.12.21
Notes £    £   
CURRENT ASSETS
Debtors 9 788,822 694,797
Investments 10 17,513 17,513
Cash at bank 39,901 149,781
846,236 862,091
CREDITORS
Amounts falling due within one year 11 37,511 (2,508 )
NET CURRENT ASSETS 808,725 864,599
TOTAL ASSETS LESS CURRENT
LIABILITIES

808,725

864,599

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 808,625 864,499
SHAREHOLDERS' FUNDS 808,725 864,599

Company's loss for the financial year (55,874 ) (94,579 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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.

Walcott Limited (Registered number: 08534530)

Company Balance Sheet - continued
31 December 2022


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 20 November 2023 and were signed by:





M T Viladomat - Director


Walcott Limited (Registered number: 08534530)

Notes to the Consolidated Financial Statements
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

Walcott 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 General 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.

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.

Development costs have been fully amortised in the current year.

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 - 3% on cost
Plant and machinery - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.


Walcott Limited (Registered number: 08534530)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2022

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2021 - 1 ).

The average number of employees by undertakings that were proportionately consolidated during the year was 2 (2021 - 2 ) .

4. OPERATING LOSS

The operating loss is stated after charging:

31.12.22 31.12.21
£    £   
Depreciation - owned assets 49,520 66,526

5. EXCEPTIONAL ITEMS
31.12.22 31.12.21
£    £   
Profit/loss on sale of invest - (70,072 )

6. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


Walcott Limited (Registered number: 08534530)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2022

7. TANGIBLE FIXED ASSETS

Group
Freehold Plant and
property machinery Totals
£    £    £   
COST
At 1 January 2022 1,609,597 886,655 2,496,252
Additions - 21,755 21,755
At 31 December 2022 1,609,597 908,410 2,518,007
DEPRECIATION
At 1 January 2022 82,449 136,768 219,217
Charge for year 22,193 27,327 49,520
At 31 December 2022 104,642 164,095 268,737
NET BOOK VALUE
At 31 December 2022 1,504,955 744,315 2,249,270
At 31 December 2021 1,527,148 749,887 2,277,035

8. FIXED ASSET INVESTMENTS

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiary

Walcott GMBH Group
Registered office: Germany
Nature of business: Automotive Consultancy
%
Class of shares: holding
Ordinary 100.00
31.12.22 31.12.21
£    £   
Aggregate capital and reserves 1,328,434 1,857,877
Loss for the year (90,958 ) (25,866 )


Walcott Limited (Registered number: 08534530)

Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 December 2022

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.12.22 31.12.21 31.12.22 31.12.21
£    £    £    £   
Trade debtors 108,267 70,406 - -
Amounts owed by group undertakings - - 437,539 411,558
Amounts owed by associates 317,775 - 317,775 274,103
Other debtors 44,058 28,446 33,508 9,136
470,100 98,852 788,822 694,797

10. CURRENT ASSET INVESTMENTS

Group Company
31.12.22 31.12.21 31.12.22 31.12.21
£    £    £    £   
Shares in group undertakings - - 17,513 17,513
Unlisted investments 170,539 168,987 - -
170,539 168,987 17,513 17,513

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
31.12.22 31.12.21 31.12.22 31.12.21
£    £    £    £   
Trade creditors 1,096 1,573 - -
Amounts owed to group undertakings 253,196 - 29,221 -
Taxation and social security 3,598 4,258 - (5,748 )
Other creditors 164,523 53,765 8,290 3,240
422,413 59,596 37,511 (2,508 )