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COMPANY REGISTRATION NUMBER: 8307798
J. Walker Design Ltd
Filleted Unaudited Financial Statements
30 November 2023
J. Walker Design Ltd
Statement of Financial Position
30 November 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
6
2,729
Current assets
Debtors
7
7,905
405
Cash at bank and in hand
1,902
24,830
------
-------
9,807
25,235
Creditors: amounts falling due within one year
8
11,815
18,442
-------
-------
Net current (liabilities)/assets
( 2,008)
6,793
------
------
Total assets less current liabilities
721
6,793
Provisions
Taxation including deferred tax
518
---
------
Net assets
203
6,793
---
------
Capital and reserves
Called up share capital
100
100
Profit and loss account
103
6,693
---
------
Shareholder funds
203
6,793
---
------
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 30 November 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 member has 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 his 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 5 August 2024 , and are signed on behalf of the board by:
Mr J E Walker
Director
Company registration number: 8307798
J. Walker Design Ltd
Notes to the Financial Statements
Year ended 30 November 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 112-114 High Street, Rickmansworth, Herts, WD3 1AQ.
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
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Revenue recognition
The turnover shown in the profit and loss account represents amounts receivable for services carried out during the year.
(c) Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss. Current tax is measured at the amounts of tax expected to be paid or recovered 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 that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
(d) Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
(e) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
(f) 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:
Equipment
-
25% straight line
(g) Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
(h) Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
(i) 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 year amounted to 1 (2022: 1 ).
5. Intangible assets
Goodwill
£
Cost
At 1 December 2022 and 30 November 2023
10,200
-------
Amortisation
At 1 December 2022 and 30 November 2023
10,200
-------
Carrying amount
At 30 November 2023
-------
At 30 November 2022
-------
6. Tangible assets
Equipment
Total
£
£
Cost
At 1 December 2022
6,583
6,583
Additions
2,910
2,910
Disposals
( 2,751)
( 2,751)
------
------
At 30 November 2023
6,742
6,742
------
------
Depreciation
At 1 December 2022
6,583
6,583
Charge for the year
181
181
Disposals
( 2,751)
( 2,751)
------
------
At 30 November 2023
4,013
4,013
------
------
Carrying amount
At 30 November 2023
2,729
2,729
------
------
At 30 November 2022
------
------
7. Debtors
2023
2022
£
£
Other debtors
7,905
405
------
---
8. Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
2,795
Corporation tax
5,817
3,715
Other creditors
3,203
14,727
-------
-------
11,815
18,442
-------
-------
Included in other creditors is an amount of £825 (2022 Nil) which represents a short-term hire purchase liability secured on the related fixed asset.
9. Director's advances, credits and guarantees
Debtors include £7,458 (2022: £Nil) due from the director. Amounts advanced during the year totalled £17,787 and repayments in year totalled £10,329. The outstanding amount is unsecured, subject to the official rate of interest advised by HM Revenue & Customs and was repaid to the company on 5th August 2024.