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REGISTERED NUMBER: 07227245 (England and Wales)














Unaudited Financial Statements

for the Year Ended 30 April 2024

for

WALTONS CONCRETE LTD

WALTONS CONCRETE LTD (REGISTERED NUMBER: 07227245)






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




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4

Accountants' Report 7

WALTONS CONCRETE LTD

Company Information
for the Year Ended 30 April 2024







Directors: G Walton
C A Walton





Registered office: 43 Coniscliffe Road
Darlington
Co. Durham
DL3 7EH





Registered number: 07227245 (England and Wales)





Accountants: Mitchell Gordon LLP
43 Coniscliffe Road
Darlington
Co. Durham
DL3 7EH

WALTONS CONCRETE LTD (REGISTERED NUMBER: 07227245)

Abridged Balance Sheet
30 April 2024

30/4/24 30/4/23
Notes £    £    £    £   
Fixed assets
Tangible assets 4 578,078 341,116

Current assets
Stocks 21,500 15,000
Debtors 28,448 29,683
Cash at bank and in hand 40,958 287,286
90,906 331,969
Creditors
Amounts falling due within one year 189,598 206,302
Net current (liabilities)/assets (98,692 ) 125,667
Total assets less current liabilities 479,386 466,783

Creditors
Amounts falling due after more than one
year

(149,464

)

(126,502

)

Provisions for liabilities (58,104 ) (59,987 )
Net assets 271,818 280,294

Capital and reserves
Called up share capital 100 100
Retained earnings 271,718 280,194
Shareholders' funds 271,818 280,294

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 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.

WALTONS CONCRETE LTD (REGISTERED NUMBER: 07227245)

Abridged Balance Sheet - continued
30 April 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 April 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 August 2024 and were signed on its behalf by:





G Walton - Director


WALTONS CONCRETE LTD (REGISTERED NUMBER: 07227245)

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

1. STATUTORY INFORMATION

Waltons Concrete Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

The financial statements have been prepared under the going concern basis of accounting.

Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the period, 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 and contracts for on-going services is recognised by reference to the stage of completion.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - not provided
Improvements to property - not provided
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.


WALTONS CONCRETE LTD (REGISTERED NUMBER: 07227245)

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

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 May 2023 803,026
Additions 259,607
At 30 April 2024 1,062,633
DEPRECIATION
At 1 May 2023 461,910
Charge for year 22,645
At 30 April 2024 484,555
NET BOOK VALUE
At 30 April 2024 578,078
At 30 April 2023 341,116

WALTONS CONCRETE LTD (REGISTERED NUMBER: 07227245)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
At 1 May 2023 105,815
Additions 235,000
At 30 April 2024 340,815
DEPRECIATION
At 1 May 2023 41,409
Charge for year 4,660
At 30 April 2024 46,069
NET BOOK VALUE
At 30 April 2024 294,746
At 30 April 2023 64,406

5. SECURED DEBTS

The following secured debts are included within creditors:

30/4/24 30/4/23
£    £   
Bank loans 41,902 125,787
Hire purchase contracts 179,231 40,382
221,133 166,169

These hire purchase contracts are secured by the assets they relate to.
The bank loan is secured on the property.

Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Waltons Concrete Ltd

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Waltons Concrete Ltd for the year ended 30 April 2024 which comprise the Abridged Income Statement, Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Waltons Concrete Ltd, as a body, in accordance with the terms of our engagement letter dated 11 July 2024. Our work has been undertaken solely to prepare for your approval the financial statements of Waltons Concrete Ltd and state those matters that we have agreed to state to the Board of Directors of Waltons Concrete Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Waltons Concrete Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Waltons Concrete Ltd. You consider that Waltons Concrete Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Waltons Concrete Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Mitchell Gordon LLP
43 Coniscliffe Road
Darlington
Co. Durham
DL3 7EH


7 August 2024