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REGISTERED NUMBER: 00567946 (England and Wales)















Financial Statements for the Year Ended 30 June 2024

for

Walton Hall Garage Limited

Walton Hall Garage Limited (Registered number: 00567946)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Walton Hall Garage Limited

Company Information
for the Year Ended 30 June 2024







DIRECTORS: M P Georgeson
C R Killen





REGISTERED OFFICE: 2-10 Breck Road
Anfield
Liverpool
Merseyside
L4 2RA





REGISTERED NUMBER: 00567946 (England and Wales)





ACCOUNTANTS: Kinsella Clarke Limited
61 Stanley Road
Bootle
Merseyside
L20 7BZ

Walton Hall Garage Limited (Registered number: 00567946)

Statement of Financial Position
30 June 2024

30.6.24 30.6.23
as restated
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 383,542 519,527
Investment property 5 125,000 125,000
508,542 644,527

CURRENT ASSETS
Stocks 3,513,892 3,465,159
Debtors 6 211,553 119,058
Cash at bank and in hand 630,268 537,036
4,355,713 4,121,253
CREDITORS
Amounts falling due within one year 7 937,289 1,164,338
NET CURRENT ASSETS 3,418,424 2,956,915
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,926,966

3,601,442

CREDITORS
Amounts falling due after more than one
year

8

(10,000

)

(20,000

)

PROVISIONS FOR LIABILITIES (39,812 ) (41,971 )
NET ASSETS 3,877,154 3,539,471

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Fair value reserve 96,028 96,028
Retained earnings 3,771,126 3,433,443
SHAREHOLDERS' FUNDS 3,877,154 3,539,471

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

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

Walton Hall Garage Limited (Registered number: 00567946)

Statement of Financial Position - continued
30 June 2024


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 11 September 2024 and were signed on its behalf by:





M P Georgeson - Director


Walton Hall Garage Limited (Registered number: 00567946)

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

1. STATUTORY INFORMATION

Walton Hall Garage 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 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.

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 32 (2023 - 31 ) .

Walton Hall Garage Limited (Registered number: 00567946)

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

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 July 2023 595,685 268,543 864,228
Additions - 4,775 4,775
Disposals (137,786 ) - (137,786 )
At 30 June 2024 457,899 273,318 731,217
DEPRECIATION
At 1 July 2023 179,606 165,095 344,701
Charge for year 8,136 16,234 24,370
Eliminated on disposal (21,396 ) - (21,396 )
At 30 June 2024 166,346 181,329 347,675
NET BOOK VALUE
At 30 June 2024 291,553 91,989 383,542
At 30 June 2023 416,079 103,448 519,527

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023
and 30 June 2024 125,000
NET BOOK VALUE
At 30 June 2024 125,000
At 30 June 2023 125,000

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2022 118,553
Cost 6,447
125,000

If the investment property had not been revalued it would have been included at the following historical cost:

30.6.24 30.6.23
as restated
£    £   
Cost 6,447 6,447
Aggregate depreciation (4,295 ) (4,295 )

The investment property was valued on an open market basis on 31 March 2022 by the director .

Walton Hall Garage Limited (Registered number: 00567946)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
as restated
£    £   
Trade debtors 178,893 86,365
Other debtors 32,660 32,693
211,553 119,058

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
as restated
£    £   
Bank loans and overdrafts 186,447 698,253
Trade creditors 231,985 102,658
Taxation and social security 303,371 195,492
Other creditors 215,486 167,935
937,289 1,164,338

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
as restated
£    £   
Bank loans 10,000 20,000

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 June 2024 and 30 June 2023:

30.6.24 30.6.23
as restated
£    £   
M P Georgeson and P Georgeson
Balance outstanding at start of year (15 ) (9,252 )
Amounts advanced 15,407 10,987
Amounts repaid (15,500 ) (1,750 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (108 ) (15 )

10. RELATED PARTY DISCLOSURES

During the year the company paid rent of £60,000 to a self investment personal pension fo which M P Georgeson is the sole beneficiary.