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REGISTERED NUMBER: 05450535 (England and Wales)















WALTON INCORPORATED LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023






WALTON INCORPORATED LIMITED (REGISTERED NUMBER: 05450535)






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 3 to 5


WALTON INCORPORATED LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTOR: J L Walton





SECRETARY: Mrs H Walton





REGISTERED OFFICE: 14 London Road
Newark
Nottinghamshire
NG24 1TW





REGISTERED NUMBER: 05450535 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
14 London Road
Newark
Nottinghamshire
NG24 1TW

WALTON INCORPORATED LIMITED (REGISTERED NUMBER: 05450535)

STATEMENT OF FINANCIAL POSITION
31 MAY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 22,870 22,994
Investment property 5 4,242,500 4,170,000
4,265,370 4,192,994

CURRENT ASSETS
Debtors 6 5,252 6,474
Cash at bank 9,462 54,246
14,714 60,720
CREDITORS
Amounts falling due within one year 7 2,350,498 2,436,980
NET CURRENT LIABILITIES (2,335,784 ) (2,376,260 )
TOTAL ASSETS LESS CURRENT LIABILITIES 1,929,586 1,816,734

PROVISIONS FOR LIABILITIES 165,651 112,143
NET ASSETS 1,763,935 1,704,591

CAPITAL AND RESERVES
Called up share capital 8 101 101
Revaluation reserve 9 1,017,167 996,826
Retained earnings 746,667 707,664
SHAREHOLDERS' FUNDS 1,763,935 1,704,591

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 director acknowledges his 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 director and authorised for issue on 24 January 2024 and were signed by:





J L Walton - Director


WALTON INCORPORATED LIMITED (REGISTERED NUMBER: 05450535)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1. STATUTORY INFORMATION

Walton Incorporated Limited 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.

Revenue
Revenue represents rents payable to the company.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on cost and 25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

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.

Financial instruments
The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset 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.

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

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts 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.

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.


WALTON INCORPORATED LIMITED (REGISTERED NUMBER: 05450535)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

2. ACCOUNTING POLICIES - continued
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.

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 3 (2022 - 2 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 June 2022 80,559
Additions 7,500
At 31 May 2023 88,059
DEPRECIATION
At 1 June 2022 57,565
Charge for year 7,624
At 31 May 2023 65,189
NET BOOK VALUE
At 31 May 2023 22,870
At 31 May 2022 22,994

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2022 4,170,000
Revaluations 72,500
At 31 May 2023 4,242,500
NET BOOK VALUE
At 31 May 2023 4,242,500
At 31 May 2022 4,170,000

WALTON INCORPORATED LIMITED (REGISTERED NUMBER: 05450535)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023

5. INVESTMENT PROPERTY - continued

Fair value at 31 May 2023 is represented by:
£   
Valuation in 2022 1,104,600
Valuation in 2023 72,500
Cost 3,065,400
4,242,500

The directors revalued the investment property with regard to market based evidence for similar properties sold in the local area.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 5,252 6,474

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 9,607 57,485
Other creditors 2,340,891 2,379,495
2,350,498 2,436,980

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 'A' Ordinary £1 100 100
1 'B' Ordinary £1 1 1
101 101

9. RESERVES
Revaluation
reserve
£   
At 1 June 2022 996,826
Property revaluation 72,500
Deferred Tax (52,159 )

At 31 May 2023 1,017,167

The aggregate surplus on re-measurement of investment properties, net of associated deferred tax, is transferred to a separate non-distributable revaluation reserve in order to assist with the identification of profits available for distribution.