Registered number
10919154
Waltonwagner Developments (Dulwich) Limited
Unaudited Filleted Accounts
31 August 2023
Waltonwagner Developments (Dulwich) Limited
Registered number: 10919154
Balance Sheet
as at 31 August 2023
Notes 2023 2022
£ £
Current assets
Stocks 1,136,375 1,136,375
Debtors 3 4,399 4,073
Cash at bank and in hand 23,328 14,271
1,164,102 1,154,719
Creditors: amounts falling due within one year 4 (899,041) (895,271)
Net current assets 265,061 259,448
Net assets 265,061 259,448
Capital and reserves
Called up share capital 667 667
Share premium 665,334 665,334
Profit and loss account (400,940) (406,553)
Shareholders' funds 265,061 259,448
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.
Mrs J Perkins
Director
Approved by the board on 30 January 2024
Waltonwagner Developments (Dulwich) Limited
Notes to the Accounts
for the year ended 31 August 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 3 3
3 Debtors 2023 2022
£ £
Other debtors 4,399 4,073
4 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 665,344 665,344
Trade creditors 77,966 66,671
Other creditors 155,731 163,256
899,041 895,271
5 Loans 2023 2022
£ £
Creditors include:
Secured bank loans 665,344 665,344
The bank loan is secured on the development property and by personal guarantees from the directors.
6 Other information
Waltonwagner Developments (Dulwich) Limited is a private company limited by shares and incorporated in England. Its registered office is:
Portland House
21 Narborough Road
Cosby
Leicester
LE9 1TA
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