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REGISTERED NUMBER: 07264271 (England and Wales)










WALSALL 2 LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JUNE 2023






WALSALL 2 LIMITED (REGISTERED NUMBER: 07264271)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WALSALL 2 LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH JUNE 2023







DIRECTORS: Mr R Kathuria
Mr S Kathuria





REGISTERED OFFICE: 204 Winsford Avenue
coventry
West Midlands
CV5 9NB





REGISTERED NUMBER: 07264271 (England and Wales)





ACCOUNTANTS: Shah & Co (Accountants) Ltd
Chartered Certified Accountants
Cash's Business Centre
1st Floor
228 Widdrington Road
Coventry
West Midlands
CV1 4PB

WALSALL 2 LIMITED (REGISTERED NUMBER: 07264271)

BALANCE SHEET
30TH JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 844,636 871,839

CURRENT ASSETS
Stocks 11,250 12,750
Debtors 5 4,392,495 4,014,654
Cash at bank 19,662 245,675
4,423,407 4,273,079
CREDITORS
Amounts falling due within one year 6 465,136 475,823
NET CURRENT ASSETS 3,958,271 3,797,256
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,802,907

4,669,095

CREDITORS
Amounts falling due after more than one
year

7

-

581,779
NET ASSETS 4,802,907 4,087,316

CAPITAL AND RESERVES
Called up share capital 150 150
Retained earnings 4,802,757 4,087,166
SHAREHOLDERS' FUNDS 4,802,907 4,087,316

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2023 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.

WALSALL 2 LIMITED (REGISTERED NUMBER: 07264271)

BALANCE SHEET - continued
30TH JUNE 2023


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21st August 2024 and were signed on its behalf by:





Mr S Kathuria - Director


WALSALL 2 LIMITED (REGISTERED NUMBER: 07264271)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH JUNE 2023

1. STATUTORY INFORMATION

Walsall 2 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business has been fully amortised in the current year.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Fixtures and fittings - 20% on reducing balance

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.

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

WALSALL 2 LIMITED (REGISTERED NUMBER: 07264271)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2022 - 37 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
Freehold to and
property property fittings Totals
£    £    £    £   
COST
At 1st July 2022
and 30th June 2023 732,692 221,596 266,884 1,221,172
DEPRECIATION
At 1st July 2022 161,326 - 188,007 349,333
Charge for year 11,427 - 15,776 27,203
At 30th June 2023 172,753 - 203,783 376,536
NET BOOK VALUE
At 30th June 2023 559,939 221,596 63,101 844,636
At 30th June 2022 571,366 221,596 78,877 871,839

5. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 314,976 95,241
Other debtors 58,195 72,027
373,171 167,268

Amounts falling due after more than one year:
Other debtors 4,019,324 3,847,386

Aggregate amounts 4,392,495 4,014,654

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 60,000
Trade creditors 131,068 73,985
Taxation and social security 296,700 312,851
Other creditors 37,368 28,987
465,136 475,823

WALSALL 2 LIMITED (REGISTERED NUMBER: 07264271)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH JUNE 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 581,779

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 581,779

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans - 641,779

Bank borrowings are secured against the freehold properties.

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end company owed the following amounts to its directors -

Mr S Kathuria - £ 7,716
Mr R Kathuria - £ 7,716

The loans are interest free.