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COMPANY REGISTRATION NUMBER: NI656445
Walkingshaw Associates Limited
Filleted Unaudited Financial Statements
31 October 2023
Walkingshaw Associates Limited
Statement of Financial Position
31 October 2023
2023
2022
Note
£
£
Current assets
Cash at bank and in hand
26,194
49,285
Creditors: amounts falling due within one year
6
22,426
36,099
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--------
Net current assets
3,768
13,186
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--------
Total assets less current liabilities
3,768
13,186
-------
--------
Net assets
3,768
13,186
-------
--------
Capital and reserves
Called up share capital
7
100
100
Profit and loss account
3,668
13,086
-------
--------
Shareholders funds
3,768
13,186
-------
--------
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 year ending 31 October 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 year in question in accordance with section 476 ;
- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 29 July 2024 , and are signed on behalf of the board by:
Ms M Walkingshaw
Director
Company registration number: NI656445
Walkingshaw Associates Limited
Notes to the Financial Statements
Year ended 31 October 2023
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 30 Windermere Drive, Bangor, County Down, BT20 4QF.
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 cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. 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.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
4. Tax on profit
Major components of tax expense
2023
2022
£
£
Current tax:
UK current tax expense
606
578
----
----
Tax on profit
606
578
----
----
Reconciliation of tax expense
The tax assessed on the profit on ordinary activities for the year is the same as (2022: the same as) the standard rate of corporation tax in the UK of 19 % (2022: 19 %).
2023
2022
£
£
Profit on ordinary activities before taxation
3,188
3,043
-------
-------
Profit on ordinary activities by rate of tax
606
578
-------
-------
5. Dividends
2023
2022
£
£
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year )
12,000
37,500
--------
--------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
605
578
Other creditors
21,821
35,521
--------
--------
22,426
36,099
--------
--------
7. Called up share capital
Issued, called up and fully paid
2023
2022
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
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