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REGISTERED NUMBER: 02916434 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2023

for

G.Walker Properties Ltd

G.Walker Properties Ltd (Registered number: 02916434)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


G.Walker Properties Ltd

Company Information
for the Year Ended 31 May 2023







Directors: G S Walker
D A Jones





Registered office: Graham Walker Limited
Unit 28 Bumpers Lane
Sealand Road Industrial Estate
Chester
CH1 4LT





Registered number: 02916434 (England and Wales)





Accountants: Ellis & Co
Chartered Accountants
114-120 Northgate Street
Chester
CH1 2HT

G.Walker Properties Ltd (Registered number: 02916434)

Statement of Financial Position
31 May 2023

31/5/23 31/5/22
Notes £    £    £    £   
Fixed assets
Tangible assets 4 12,871 15,593
Investment property 5 12,664,791 11,374,343
12,677,662 11,389,936

Current assets
Stocks 570,968 710,709
Debtors 6 1,365,768 1,251,960
Cash at bank 95,493 599,842
2,032,229 2,562,511
Creditors
Amounts falling due within one year 7 816,075 774,728
Net current assets 1,216,154 1,787,783
Total assets less current liabilities 13,893,816 13,177,719

Creditors
Amounts falling due after more than
one year

8

(1,662,981

)

(2,448,606

)

Provisions for liabilities 10 (174,620 ) (3,898 )
Net assets 12,056,215 10,725,215

G.Walker Properties Ltd (Registered number: 02916434)

Statement of Financial Position - continued
31 May 2023

31/5/23 31/5/22
Notes £    £    £    £   
Capital and reserves
Called up share capital 100 100
Revaluation reserve 11 2,300,259 1,686,210
Retained earnings 9,755,856 9,038,905
12,056,215 10,725,215

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 20 February 2024 and were signed on its behalf by:





G S Walker - Director


G.Walker Properties Ltd (Registered number: 02916434)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. Statutory information

G.Walker Properties 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Revenue from property rental is recognised on an accruals basis.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% reducing balance
Motor vehicles - 25% reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

G.Walker Properties Ltd (Registered number: 02916434)

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

2. Accounting policies - continued

Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Operating leases
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 5 (2022 - 5 ) .

G.Walker Properties Ltd (Registered number: 02916434)

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

4. Tangible fixed assets
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
Cost
At 1 June 2022 38,119 19,553 57,672
Additions 1,179 - 1,179
At 31 May 2023 39,298 19,553 58,851
Depreciation
At 1 June 2022 34,597 7,482 42,079
Charge for year 883 3,018 3,901
At 31 May 2023 35,480 10,500 45,980
Net book value
At 31 May 2023 3,818 9,053 12,871
At 31 May 2022 3,522 12,071 15,593

5. Investment property
Total
£   
Fair value
At 1 June 2022 11,374,343
Additions 276,788
Revaluations 1,013,660
At 31 May 2023 12,664,791
Net book value
At 31 May 2023 12,664,791
At 31 May 2022 11,374,343

Investment property is shown at its most recent valuation. Any aggregate surplus or deficit in fair value is recognised as profit or loss in the Income Statement.

6. Debtors: amounts falling due within one year
31/5/23 31/5/22
£    £   
Trade debtors 33,122 24,175
Other debtors 1,332,646 1,227,785
1,365,768 1,251,960

G.Walker Properties Ltd (Registered number: 02916434)

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

7. Creditors: amounts falling due within one year
31/5/23 31/5/22
£    £   
Bank loans and overdrafts 205,000 205,000
Trade creditors 29,181 3,106
Taxation and social security 191,895 171,412
Other creditors 389,999 395,210
816,075 774,728

8. Creditors: amounts falling due after more than one year
31/5/23 31/5/22
£    £   
Bank loans 1,662,981 2,448,606

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 842,981 1,628,606

9. Secured debts

The following secured debts are included within creditors:

31/5/23 31/5/22
£    £   
Bank loans 1,867,981 2,653,606

Bank loans are secured by way of fixed and floating charges against the related properties.

10. Provisions for liabilities
31/5/23 31/5/22
£    £   
Deferred tax
Accelerated capital allowances 3,218 3,898
Other timing differences 171,402 -
174,620 3,898

Deferred
tax
£   
Balance at 1 June 2022 3,898
Charge to Income Statement during year 170,722
Balance at 31 May 2023 174,620

G.Walker Properties Ltd (Registered number: 02916434)

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

11. Reserves

Under FRS 102 surpluses on the revaluation of investment property are treated as fair value adjustments and are recognised in the statement of income. However under company law, these surpluses are not distributable. In these financial statements, the cumulative revaluation surpluses have been included in other reserves under Revaluation reserve. On disposal of an investment property, any revaluation surplus realised on disposal is transferred to distributable reserves.

12. Related party disclosures

The directors have made loans to the company. The balance on these loans at 31 May 2023
was £157,647 (2022 - £166,294). The loans are interest free, unsecured and repayable on
demand.