M D Walker (SOT) Limited 04908876 false 2022-10-01 2023-09-30 2023-09-30 The principal activity of the company is Take-away food shops Digita Accounts Production Advanced 6.30.9574.0 true true 04908876 2022-10-01 2023-09-30 04908876 2023-09-30 04908876 core:RetainedEarningsAccumulatedLosses 2023-09-30 04908876 core:ShareCapital 2023-09-30 04908876 core:CurrentFinancialInstruments 2023-09-30 04908876 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 04908876 core:FurnitureFittingsToolsEquipment 2023-09-30 04908876 core:OtherPropertyPlantEquipment 2023-09-30 04908876 bus:SmallEntities 2022-10-01 2023-09-30 04908876 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 04908876 bus:FullAccounts 2022-10-01 2023-09-30 04908876 bus:SmallCompaniesRegimeForAccounts 2022-10-01 2023-09-30 04908876 bus:RegisteredOffice 2022-10-01 2023-09-30 04908876 bus:Director1 2022-10-01 2023-09-30 04908876 bus:Director2 2022-10-01 2023-09-30 04908876 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 04908876 core:FurnitureFittings 2022-10-01 2023-09-30 04908876 core:FurnitureFittingsToolsEquipment 2022-10-01 2023-09-30 04908876 core:OtherPropertyPlantEquipment 2022-10-01 2023-09-30 04908876 core:PlantMachinery 2022-10-01 2023-09-30 04908876 countries:EnglandWales 2022-10-01 2023-09-30 04908876 2022-09-30 04908876 core:FurnitureFittingsToolsEquipment 2022-09-30 04908876 core:OtherPropertyPlantEquipment 2022-09-30 04908876 2021-10-01 2022-09-30 04908876 2022-09-30 04908876 core:RetainedEarningsAccumulatedLosses 2022-09-30 04908876 core:ShareCapital 2022-09-30 04908876 core:CurrentFinancialInstruments 2022-09-30 04908876 core:CurrentFinancialInstruments core:WithinOneYear 2022-09-30 04908876 core:FurnitureFittingsToolsEquipment 2022-09-30 04908876 core:OtherPropertyPlantEquipment 2022-09-30 iso4217:GBP xbrli:pure

Registration number: 04908876

M D Walker (SOT) Limited

Unaudited Financial Statements

for the Year Ended 30 September 2023

 

M D Walker (SOT) Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

Detailed Profit and Loss Account

8 to 10

 

M D Walker (SOT) Limited

Company Information

Directors

Mr Martin David Walker

Mrs Amanda Jane Walker

Registered office

4 Palermo Drive
Meir Hay Longton
Stoke On Trent
Staffordshire
ST3 5YP

Accountants

Alextra Group Limited
Chartered Certified Accountants
7-9 Macon Court
Crewe
Cheshire
CW1 6EA

 

M D Walker (SOT) Limited

(Registration number: 04908876)
Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

5,072

5,635

Current assets

 

Stocks

5

4,000

2,700

Debtors

6

220

211

Cash at bank and in hand

 

2,000

2,000

 

6,220

4,911

Creditors: Amounts falling due within one year

7

(80,820)

(60,990)

Net current liabilities

 

(74,600)

(56,079)

Net liabilities

 

(69,528)

(50,444)

Capital and reserves

 

Called up share capital

5

5

Retained earnings

(69,533)

(50,449)

Shareholders' deficit

 

(69,528)

(50,444)

For the financial year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 26 April 2024 and signed on its behalf by:
 

.........................................
Mr Martin David Walker
Director

 

M D Walker (SOT) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
4 Palermo Drive
Meir Hay Longton
Stoke On Trent
Staffordshire
ST3 5YP

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. The company meets its day to day working capital requirements through funds provided by the directors. The directors consider that these facilities will continue to be made available to the company. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments which would result if the going concern basis were not appropriate.

 

M D Walker (SOT) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Judgements

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have enacted or substatively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company.

Deferred tax is determined using the tax rates and laws that have been enacted or substantively enacted by the reporting date.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

10% reducing balance

Fixtures and fittings

10% reducing balance

 

M D Walker (SOT) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 4).

 

M D Walker (SOT) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 October 2022

3,601

14,369

17,970

At 30 September 2023

3,601

14,369

17,970

Depreciation

At 1 October 2022

719

11,616

12,335

Charge for the year

288

275

563

At 30 September 2023

1,007

11,891

12,898

Carrying amount

At 30 September 2023

2,594

2,478

5,072

At 30 September 2022

2,882

2,753

5,635

5

Stocks

2023
£

2022
£

Stock

4,000

2,700

6

Debtors

Current

2023
£

2022
£

Prepayments

220

211

 

M D Walker (SOT) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2023

7

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Accruals and deferred income

1,595

1,522

Other creditors

79,225

59,468

80,820

60,990

 

M D Walker (SOT) Limited

Detailed Profit and Loss Account for the Year Ended 30 September 2023

2023
 £

2022
 £

Turnover (analysed below)

84,434

83,632

Cost of sales (analysed below)

(42,386)

(34,347)

Gross profit

42,048

49,285

Gross profit (%)

49.8%

58.93%

Administrative expenses

Employment costs (analysed below)

(38,166)

(32,470)

Establishment costs (analysed below)

(14,686)

(14,083)

General administrative expenses (analysed below)

(7,545)

(6,434)

Finance charges (analysed below)

(172)

(483)

Depreciation costs (analysed below)

(563)

(626)

(61,132)

(54,096)

Operating loss

(19,084)

(4,811)

Loss before tax

(19,084)

(4,811)

 

M D Walker (SOT) Limited

Detailed Profit and Loss Account for the Year Ended 30 September 2023

2023
£

2022
£

   

Turnover

Sale of goods, UK

84,434

83,632

   

Cost of sales

Opening raw materials

(2,700)

(2,250)

Purchases

(43,686)

(34,797)

Closing raw materials

4,000

2,700

(42,386)

(34,347)

   

Employment costs

Wages and salaries (excluding directors)

(20,338)

(13,829)

Staff NIC (Employers)

(55)

(58)

Directors remuneration

(17,655)

(18,490)

Directors NIC (Employers)

(118)

(93)

(38,166)

(32,470)

   

Establishment costs

Rent

(5,638)

(5,345)

Rates

(422)

(383)

Light, heat and power

(7,434)

(7,173)

Insurance

(880)

(870)

Use of home as office

(312)

(312)

(14,686)

(14,083)

   

General administrative expenses

Repairs and renewals

(2,736)

(608)

Telephone and fax

(2,212)

(2,292)

Sundry expenses

(329)

(372)

Cleaning & waste management

(276)

(1,226)

Motor, travel & subsistence

(543)

(543)

Accountancy fees

(1,449)

(1,393)

(7,545)

(6,434)

   

Finance charges

Bank charges

(10)

-

Card machine charges

(162)

(483)

(172)

(483)

 

M D Walker (SOT) Limited

Detailed Profit and Loss Account for the Year Ended 30 September 2023

2023
£

2022
£

   

Depreciation costs

Depreciation of plant and machinery (owned)

(275)

(306)

Depreciation of fixtures and fittings (owned)

(288)

(320)

(563)

(626)