Registered number
07441313
Walton Wagner Limited
Unaudited Filleted Accounts
30 November 2023
Walton Wagner Limited
Registered number: 07441313
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 8,641 9,682
Investments 4 2 2
8,643 9,684
Current assets
Debtors 5 1,133,725 1,034,098
Cash at bank and in hand 146,071 118,672
1,279,796 1,152,770
Creditors: amounts falling due within one year 6 (295,942) (277,107)
Net current assets 983,854 875,663
Total assets less current liabilities 992,497 885,347
Creditors: amounts falling due after more than one year 7 (16,153) (26,031)
Provisions for liabilities (1,642) (1,840)
Net assets 974,702 857,476
Capital and reserves
Called up share capital 100 100
Share premium 99,975 99,975
Capital redemption reserve 25 25
Profit and loss account 874,602 757,376
Shareholders' funds 974,702 857,476
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 27 March 2024
Walton Wagner Limited
Notes to the Accounts
for the year ended 30 November 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.
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, other than freehold land, 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
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
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.
Leased assets
Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
Group accounts
The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprises a small sized group. The company has therefore taken advantage of the exemptions provided by section 398 of the Companies Act 2006 not to prepare group accounts.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 8 8
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 December 2022 57,287
Additions 3,711
Disposals (2,026)
At 30 November 2023 58,972
Depreciation
At 1 December 2022 47,605
Charge for the year 4,752
On disposals (2,026)
At 30 November 2023 50,331
Net book value
At 30 November 2023 8,641
At 30 November 2022 9,682
4 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 December 2022 2
At 30 November 2023 2
5 Debtors 2023 2022
£ £
Trade debtors 380,080 326,006
Amounts owed by group undertakings and undertakings in which the company has a participating interest 572,678 567,678
Other debtors 180,967 140,414
1,133,725 1,034,098
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 9,877 9,633
Trade creditors 146,911 80,012
Taxation and social security costs 50,504 76,192
Other creditors 88,650 111,270
295,942 277,107
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 16,153 26,031
8 Other financial commitments 2023 2022
£ £
Total future minimum payments under non-cancellable operating leases 85,867 174,267
9 Other information
Walton Wagner 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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