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REGISTERED NUMBER: 09277968 (England and Wales)
















Walter T. Ware Limited

Unaudited Financial Statements

for the Year Ended 30th April 2024






Walter T. Ware Limited (Registered number: 09277968)






Contents of the Financial Statements
for the Year Ended 30th April 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Walter T. Ware Limited

Company Information
for the Year Ended 30th April 2024







Directors: R P Andrews
J Playfair
M E Andrews





Registered office: 4 Post Office Walk
Hertford
Hertfordshire
SG14 1DL





Registered number: 09277968 (England and Wales)





Accountants: Playfair Partnerships Limited
4 Post Office Walk
Hertford
Hertfordshire
SG14 1DL

Walter T. Ware Limited (Registered number: 09277968)

Statement of Financial Position
30th April 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 1,573,693 1,574,199

Current assets
Debtors 5 (440 ) 590
Cash at bank 183,501 46,103
183,061 46,693
Creditors
Amounts falling due within one year 6 60,474 24,018
Net current assets 122,587 22,675
Total assets less current liabilities 1,696,280 1,596,874

Capital and reserves
Called up share capital 1,000 1,000
Share premium 22,413 22,413
Revaluation reserve 344,370 348,890
Retained earnings 1,328,497 1,224,571
1,696,280 1,596,874

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31st July 2024 and were signed on its behalf by:





R P Andrews - Director


Walter T. Ware Limited (Registered number: 09277968)

Notes to the Financial Statements
for the Year Ended 30th April 2024

1. Statutory information

Walter T. Ware 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.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods, the rendering of services and rental income.
Turnover is recognised at the point goods are delivered or services are completed.
Turnover in respect of the lease of commercial property is recognised in line with lease agreements.

Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land & Buildings Not depreciated/10% straight line
Plant & Machinery 15% on reducing balance
Motor Vehicles 25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and it credited or charged to profit or loss.

Properties whose fair value can be measured reliably are held under the revaluation model and are carried at a revalued amount, being their fair value at the date of valuation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The fair value of the land and buildings is usually considered to be their market value.

Revaluation gains and losses are recognised in other comprehensive income and accumulated in equity, except to the extent that a revaluation gain reverses a revaluation loss previously recognised in profit or loss or a revaluation loss exceeds the accumulated revaluation gains recognised in equity; such gains and losses are recognised in profit or loss.


Walter T. Ware Limited (Registered number: 09277968)

Notes to the Financial Statements - continued
for the Year Ended 30th April 2024

2. Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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.

3. Employees and directors

The average number of employees during the year was 1 (2023 - 1 ) .

4. Tangible fixed assets
Land and Plant and Motor
Buildings machinery vehicles Totals
£    £    £    £   
Cost or valuation
At 1st May 2023 1,550,803 32,659 10,695 1,594,157
Additions - 3,686 19,100 22,786
Disposals (20,080 ) - (10,695 ) (30,775 )
At 30th April 2024 1,530,723 36,345 19,100 1,586,168
Depreciation
At 1st May 2023 - 9,383 10,575 19,958
Charge for year - 3,092 - 3,092
Eliminated on disposal - - (10,575 ) (10,575 )
At 30th April 2024 - 12,475 - 12,475
Net book value
At 30th April 2024 1,530,723 23,870 19,100 1,573,693
At 30th April 2023 1,550,803 23,276 120 1,574,199

Walter T. Ware Limited (Registered number: 09277968)

Notes to the Financial Statements - continued
for the Year Ended 30th April 2024

4. Tangible fixed assets - continued

Cost or valuation at 30th April 2024 is represented by:

Land and Plant and Motor
Buildings machinery vehicles Totals
£    £    £    £   
Valuation in 2017 344,370 - - 344,370
Cost 1,186,353 36,345 19,100 1,241,798
1,530,723 36,345 19,100 1,586,168

Land and buildings were valued on an open market basis on 30 April 2024 by the directors.

The directors are of the opinion that there has been no increase in the land and buildings values this year.

5. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors (440 ) 590

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Amounts owed to group undertakings 40,000 -
Taxation and social security 2,359 3,538
Other creditors 18,115 20,480
60,474 24,018