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COMPANY REGISTRATION NUMBER: 04076946
WALKER ENGINEERING (LEEDS) LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
29 September 2023
WALKER ENGINEERING (LEEDS) LIMITED
FINANCIAL STATEMENTS
PERIOD FROM 1 OCTOBER 2022 TO 29 SEPTEMBER 2023
CONTENTS
PAGES
Statement of financial position
1 to 2
Notes to the financial statements
3 to 6
WALKER ENGINEERING (LEEDS) LIMITED
STATEMENT OF FINANCIAL POSITION
29 September 2023
29 Sep 23
30 Sep 22
Note
£
£
£
FIXED ASSETS
Tangible assets
6
175,042
142,225
CURRENT ASSETS
Stocks
2,667
2,500
Debtors
7
68,914
74,527
Cash at bank and in hand
141,503
108,485
---------
---------
213,084
185,512
CREDITORS: amounts falling due within one year
8
( 51,121)
( 55,813)
---------
---------
NET CURRENT ASSETS
161,963
129,699
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
337,005
271,924
CREDITORS: amounts falling due after more than one year
9
( 19,367)
( 13,306)
PROVISIONS
Taxation including deferred tax
( 33,258)
( 27,023)
---------
---------
NET ASSETS
284,380
231,595
---------
---------
CAPITAL AND RESERVES
Called up share capital
100
100
Profit and loss account
284,280
231,495
---------
---------
SHAREHOLDERS FUNDS
284,380
231,595
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 29 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
WALKER ENGINEERING (LEEDS) LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
29 September 2023
These financial statements were approved by the board of directors and authorised for issue on 17 July 2024 , and are signed on behalf of the board by:
K R J Walker
Director
Company registration number: 04076946
WALKER ENGINEERING (LEEDS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
PERIOD FROM 1 OCTOBER 2022 TO 29 SEPTEMBER 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 12 Brown Lane West, Leeds, LS12 6BH.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical costs basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of goods supplied, exclusive of Value Added Tax. In respect of long-term contracts and contracts for on-going services, turnover represents the value of work done in the year, including estimates of amounts not invoiced. Turnover in respect of long-term contracts for on-going services is recognised by reference to the stage of completion.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation to date.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery
-
15% reducing balance
Fixtures and fittings
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Computer equipment
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at transaction price and thereafter at fair value with changes recognised in profit and loss. The company holds the following financial assets and liabilities: Cash, Short-term trade and other debtors, and creditors. Cash in the balance sheet comprises cash at banks and in hand and short term deposits with an original maturity date of three months or less. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account before operating profit.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the period amounted to 4 (2022: 6 ).
5. TAX ON PROFIT
Major components of tax expense
Period from
1 Oct 22 to
Year to
29 Sep 23
30 Sep 22
£
£
Current tax:
UK current tax expense
5,787
9,940
Adjustments in respect of prior periods
( 1,533)
-------
-------
Total current tax
4,254
9,940
-------
-------
Deferred tax:
Origination and reversal of timing differences
6,235
4,441
--------
--------
Tax on profit
10,489
14,381
--------
--------
6. TANGIBLE ASSETS
Plant and machinery
Fixtures and fittings
Motor vehicles
Computer equipment
Total
£
£
£
£
£
Cost
At 1 October 2022
310,257
7,348
14,495
6,668
338,768
Additions
27,195
42,401
69,596
---------
-------
--------
-------
---------
At 29 September 2023
337,452
7,348
56,896
6,668
408,364
---------
-------
--------
-------
---------
Depreciation
At 1 October 2022
177,171
5,844
9,909
3,619
196,543
Charge for the period
24,042
226
11,748
763
36,779
---------
-------
--------
-------
---------
At 29 September 2023
201,213
6,070
21,657
4,382
233,322
---------
-------
--------
-------
---------
Carrying amount
At 29 September 2023
136,239
1,278
35,239
2,286
175,042
---------
-------
--------
-------
---------
At 30 September 2022
133,086
1,504
4,586
3,049
142,225
---------
-------
--------
-------
---------
Finance leases and hire purchase contracts
Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:
Plant and machinery
Motor vehicles
Total
£
£
£
At 29 September 2023
33,639
33,639
----
--------
--------
At 30 September 2022
20,624
20,624
--------
--------
--------
7. DEBTORS
29 Sep 23
30 Sep 22
£
£
Trade debtors
61,900
65,051
Other debtors
7,014
9,476
--------
--------
68,914
74,527
--------
--------
8. CREDITORS: amounts falling due within one year
29 Sep 23
30 Sep 22
£
£
Bank loans and overdrafts
3,750
Trade creditors
8,957
11,241
Corporation tax
5,787
11,473
Social security and other taxes
18,069
21,050
Other loans
4,436
Other creditors
18,308
3,863
--------
--------
51,121
55,813
--------
--------
9. CREDITORS: amounts falling due after more than one year
29 Sep 23
30 Sep 22
£
£
Other loans
13,306
Other creditors
19,367
--------
--------
19,367
13,306
--------
--------