Waltrem Limited |
Notes to the Accounts |
for the year ended 31 July 2023 |
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1 |
Accounting policies |
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Basis of preparation |
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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). |
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Turnover |
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Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover represents invoiced amounts of service charges. The service charge for the year per flat was £1,080. |
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Intangible fixed assets |
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Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses. |
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Debtors |
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Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
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Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Provisions |
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Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
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2 |
Employees |
2023 |
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2022 |
Number |
Number |
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Average number of persons employed by the company |
- |
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- |
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3 |
Tangible fixed assets |
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Freehold property |
£ |
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Cost |
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At 1 August 2022 |
1 |
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At 31 July 2023 |
1 |
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Depreciation |
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At 31 July 2023 |
- |
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Net book value |
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At 31 July 2023 |
1 |
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At 31 July 2022 |
1 |
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4 |
Debtors |
2023 |
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2022 |
£ |
£ |
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Service charges outstanding |
2,434 |
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1,931 |
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5 |
Creditors: amounts falling due within one year |
2023 |
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2022 |
£ |
£ |
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Service charges prepaid |
1,260 |
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1,080 |
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Creditors |
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1,513 |
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1,525 |
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Accrual |
345 |
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345 |
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3,118 |
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2,950 |
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6 |
Other information |
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Waltrem Limited is a private company limited by shares and incorporated in England. Its registered office is: |
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First Floor |
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1 Edmund Street |
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Bradford |
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West Yorkshire |
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BD5 0BH |
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7 |
Controlling party |
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The day to day running of the business is controlled by the company's management agents. The |
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agents report to the Board, who have ultimate control on behalf of the shareholders. |