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REGISTERED NUMBER: 04556651 (England and Wales)











Financial Statements

for the Year Ended 31st December 2023

for

Austin Walmsley Ltd

Austin Walmsley Ltd (Registered number: 04556651)

Contents of the Financial Statements
for the Year Ended 31st December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Austin Walmsley Ltd

Company Information
for the Year Ended 31st December 2023







DIRECTORS: Mr DA Walmsley
Mrs A Walmsley
Mr J A Walmsley



SECRETARY: Mrs A Walmsley



REGISTERED OFFICE: C/O Towers + Gornall Ltd
River View, 96 High Street
Garstang
Preston
Lancashire
PR3 1WZ



REGISTERED NUMBER: 04556651 (England and Wales)



ACCOUNTANTS: Towers + Gornall Ltd
Chartered Certified Accountants
River View
96 High Street
Garstang
Preston
Lancashire
PR3 1WZ



BANKERS: Barclays
High Street
Garstang
Preston
Lancashire
PR3 1XD

Austin Walmsley Ltd (Registered number: 04556651)

Balance Sheet
31st December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 23,067 15,657

CURRENT ASSETS
Inventories 10,000 9,975
Debtors 5 73,881 64,599
Cash at bank 138,588 128,179
222,469 202,753
CREDITORS
Amounts falling due within one year 6 38,237 26,448
NET CURRENT ASSETS 184,232 176,305
TOTAL ASSETS LESS CURRENT
LIABILITIES

207,299

191,962

PROVISIONS FOR LIABILITIES 4,383 2,975
NET ASSETS 202,916 188,987

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 7 202,816 188,887
SHAREHOLDERS' FUNDS 202,916 188,987

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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 2nd April 2024 and were signed on its behalf by:




Mr DA Walmsley - Director Mrs A Walmsley - Director



Mr J A Walmsley - Director


Austin Walmsley Ltd (Registered number: 04556651)

Notes to the Financial Statements
for the Year Ended 31st December 2023


1. STATUTORY INFORMATION

Austin Walmsley Ltd 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
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 represents amounts invoiced for work done in the year net of VAT and trade discounts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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

Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is an contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 6 ) .

Austin Walmsley Ltd (Registered number: 04556651)

Notes to the Financial Statements - continued
for the Year Ended 31st December 2023


4. PROPERTY, PLANT AND EQUIPMENT
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1st January 2023 36,468 23,928 6,900 67,296
Additions 10,508 - - 10,508
Disposals (2,250 ) - - (2,250 )
At 31st December 2023 44,726 23,928 6,900 75,554
DEPRECIATION
At 1st January 2023 30,382 16,388 4,869 51,639
Charge for year 2,481 219 365 3,065
Eliminated on disposal (2,217 ) - - (2,217 )
At 31st December 2023 30,646 16,607 5,234 52,487
NET BOOK VALUE
At 31st December 2023 14,080 7,321 1,666 23,067
At 31st December 2022 6,086 7,540 2,031 15,657

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 71,374 62,548
Prepayments 2,507 2,051
73,881 64,599

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 9,153 10,649
Corporation tax 7,958 3,677
Social security and other taxes 12,921 6,821
Other creditors 2,220 -
Directors' current accounts 1,378 2,676
Accrued expenses 4,607 2,625
38,237 26,448

7. RESERVES
Retained
earnings
£   

At 1st January 2023 188,887
Profit for the year 39,929
Dividends (26,000 )
At 31st December 2023 202,816

8. RELATED PARTY DISCLOSURES

At 31 December 2023 the company owed Mr DA Walmsley £138, Mrs A Walmsley £740 and Mr JA Walmsley £500. No interest has been charged on the loans which are repayable on demand.