7 false false false false false false false false false false true false false false false false false No description of principal activity 2023-05-01 Sage Accounts Production Advanced 2023 - FRS102_2023 8,300 8,300 xbrli:pure xbrli:shares iso4217:GBP 03669223 2023-05-01 2024-04-30 03669223 2024-04-30 03669223 2023-04-30 03669223 2022-05-01 2023-04-30 03669223 2023-04-30 03669223 2022-04-30 03669223 core:PlantMachinery 2023-05-01 2024-04-30 03669223 core:MotorVehicles 2023-05-01 2024-04-30 03669223 bus:Director1 2023-05-01 2024-04-30 03669223 core:NetGoodwill 2024-04-30 03669223 core:PlantMachinery 2023-04-30 03669223 core:MotorVehicles 2023-04-30 03669223 core:PlantMachinery 2024-04-30 03669223 core:MotorVehicles 2024-04-30 03669223 core:WithinOneYear 2024-04-30 03669223 core:WithinOneYear 2023-04-30 03669223 core:AfterOneYear 2024-04-30 03669223 core:AfterOneYear 2023-04-30 03669223 core:ShareCapital 2024-04-30 03669223 core:ShareCapital 2023-04-30 03669223 core:RetainedEarningsAccumulatedLosses 2024-04-30 03669223 core:RetainedEarningsAccumulatedLosses 2023-04-30 03669223 core:PlantMachinery 2023-04-30 03669223 core:MotorVehicles 2023-04-30 03669223 bus:SmallEntities 2023-05-01 2024-04-30 03669223 bus:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 03669223 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 03669223 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 03669223 bus:FullAccounts 2023-05-01 2024-04-30 03669223 core:NetGoodwill 2023-05-01 2024-04-30 03669223 core:FurnitureFittingsToolsEquipment 2023-05-01 2024-04-30 03669223 core:FurnitureFittingsToolsEquipment 2023-04-30 03669223 core:FurnitureFittingsToolsEquipment 2024-04-30
COMPANY REGISTRATION NUMBER: 03669223
T.M. Walden Limited
Filleted Unaudited Financial Statements
30 April 2024
T.M. Walden Limited
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
6
73,607
89,327
Current assets
Debtors
7
110,682
151,036
Cash at bank and in hand
69,602
80,638
---------
---------
180,284
231,674
Creditors: amounts falling due within one year
8
96,779
94,011
---------
---------
Net current assets
83,505
137,663
---------
---------
Total assets less current liabilities
157,112
226,990
Creditors: amounts falling due after more than one year
9
43,215
62,512
Provisions
Taxation including deferred tax
5,780
5,780
---------
---------
Net assets
108,117
158,698
---------
---------
Capital and reserves
Called up share capital
1,000
1,000
Profit and loss account
107,117
157,698
---------
---------
Shareholders funds
108,117
158,698
---------
---------
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 comprehensive income has not been delivered.
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
T.M. Walden Limited
Statement of Financial Position (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 29 August 2024 , and are signed on behalf of the board by:
T M Walden
Director
Company registration number: 03669223
T.M. Walden Limited
Notes to the Financial Statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 57a Broadway, Leigh-on-Sea, SS9 1PE.
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
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover 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 at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
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
-
Fully amortised
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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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:
Plant & equipment
-
25% reducing balance
Motor vehicles
-
25% reducing balance
Furniture,fittings & equipment
-
33% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
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.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 7 (2023: 8 ).
5. Intangible assets
Goodwill
£
Cost
At 1 May 2023 and 30 April 2024
8,300
-------
Amortisation
At 1 May 2023 and 30 April 2024
8,300
-------
Carrying amount
At 30 April 2024
-------
At 30 April 2023
-------
6. Tangible assets
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
Cost
At 1 May 2023
55,473
159,580
20,651
235,704
Additions
16,163
1,888
18,051
Disposals
( 13,151)
( 13,151)
--------
---------
--------
---------
At 30 April 2024
55,473
162,592
22,539
240,604
--------
---------
--------
---------
Depreciation
At 1 May 2023
52,126
79,726
14,525
146,377
Charge for the year
713
20,214
4,419
25,346
Disposals
( 4,726)
( 4,726)
--------
---------
--------
---------
At 30 April 2024
52,839
95,214
18,944
166,997
--------
---------
--------
---------
Carrying amount
At 30 April 2024
2,634
67,378
3,595
73,607
--------
---------
--------
---------
At 30 April 2023
3,347
79,854
6,126
89,327
--------
---------
--------
---------
7. Debtors
2024
2023
£
£
Trade debtors
82,556
120,479
Other debtors
28,126
30,557
---------
---------
110,682
151,036
---------
---------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
10,242
9,992
Trade creditors
57,062
60,550
Corporation tax
3,558
6,227
Social security and other taxes
3,724
4,437
Other creditors
22,193
12,805
--------
--------
96,779
94,011
--------
--------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
11,313
21,555
Other creditors
31,902
40,957
--------
--------
43,215
62,512
--------
--------