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REGISTERED NUMBER: 09475814 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

WALBURY COMMERCIAL LTD

WALBURY COMMERCIAL LTD (REGISTERED NUMBER: 09475814)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


WALBURY COMMERCIAL LTD

COMPANY INFORMATION
for the year ended 28 February 2023







DIRECTORS: P A J Kiely
D Kiely





REGISTERED OFFICE: Walbury House
14 Dalton Court
Commercial Road
Darwen
Lancashire
BB3 0DG





REGISTERED NUMBER: 09475814 (England and Wales)





ACCOUNTANTS: Hayes & Co
Chartered Accountants
St Andrews House
11 Dalton Ct,Commercial Rd
Blackburn Interchange
Darwen
Lancashire
BB3 0DG

WALBURY COMMERCIAL LTD (REGISTERED NUMBER: 09475814)

BALANCE SHEET
28 February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,545,783 855,886
Investments 5 3 3
1,545,786 855,889

CURRENT ASSETS
Stocks 45,347 35,151
Debtors 6 1,951,378 1,944,840
Cash at bank 1,009 12,181
1,997,734 1,992,172
CREDITORS
Amounts falling due within one year 7 3,519,761 2,874,954
NET CURRENT LIABILITIES (1,522,027 ) (882,782 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

23,759

(26,893

)

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 23,757 (26,895 )
23,759 (26,893 )

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 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 March 2023 and were signed on its behalf by:



P A J Kiely - Director


WALBURY COMMERCIAL LTD (REGISTERED NUMBER: 09475814)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 28 February 2023

1. STATUTORY INFORMATION

Walbury Commercial Limited is a private company limited by shares, incorporated in England and Wales. The registered number is 09475814 and the registered address is Walbury House, 14 Dalton Court, Commercial Road, Darwen, Lancashire, BB3 0DG.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with FRS 102 ' The Financial Reporting Standard applicable in the UK and Republic of Ireland (' FRS 102') and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Preparation of consolidated financial statements
The financial statements contain information about Walbury Commercial Ltd 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.

Significant judgements and estimates
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources.The estimates and associated assumptions are based on historical experience that the directors have and other factors that are considered relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period to which the estimate is revised where the revision affects only that period, or in the period of revision and future periods where the revision affects both the current and future periods.

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.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

WALBURY COMMERCIAL LTD (REGISTERED NUMBER: 09475814)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 28 February 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of section 11 ' Basic Financial Instruments' and section 12 'Other Financial Instruments' of FRS 102 to all of its financial instruments.

Financial Instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade receivable, cash and bank balances are initially recorded at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market value rate of interest. Financial assets classified as receivable within one year are not amortised.

Other financial assets

The company has no financial instruments that are classified as other financial assets.

Impairment of financial assets

Financial assets, other than those held at fair value through the income statement, are assessed for indicators of impairment at each reporting date.

Financial assets are impaired where there is objective evidence that, as a result if one or more events that occurred after the initial recognition of the financial assets, the estimated future cash flows have been affected. If an assets is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in the income statement.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities
Basic financial liabilities, including creditors, loans from associated companies that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.


WALBURY COMMERCIAL LTD (REGISTERED NUMBER: 09475814)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 28 February 2023

2. ACCOUNTING POLICIES - continued
Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Other financial liabilities

The company has no financial instruments that are classified as other financial liabilities.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

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

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.

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 year was NIL (2022 - NIL).

WALBURY COMMERCIAL LTD (REGISTERED NUMBER: 09475814)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 28 February 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 March 2022 845,732 20,308 866,040
Additions 744,974 - 744,974
Disposals (50,000 ) - (50,000 )
At 28 February 2023 1,540,706 20,308 1,561,014
DEPRECIATION
At 1 March 2022 - 10,154 10,154
Charge for year - 5,077 5,077
At 28 February 2023 - 15,231 15,231
NET BOOK VALUE
At 28 February 2023 1,540,706 5,077 1,545,783
At 28 February 2022 845,732 10,154 855,886

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 March 2022
and 28 February 2023 3
NET BOOK VALUE
At 28 February 2023 3
At 28 February 2022 3

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 629,892 581,892
Amounts owed by participating interests 1,320,488 1,356,087
Other debtors 998 6,861
1,951,378 1,944,840

WALBURY COMMERCIAL LTD (REGISTERED NUMBER: 09475814)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 28 February 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 374,508 43,144
Trade creditors 412,365 273,423
Amounts owed to group undertakings 133,001 133,001
Amounts owed to participating interests 2,124,687 1,982,901
Taxation and social security 60,455 28,676
Other creditors 414,745 413,809
3,519,761 2,874,954

8. ULTIMATE CONTROLLING PARTY

The controlling party is P & D Kiely..