1 January 2023 v2024.42.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP043741232023-01-012023-12-31043741232023-12-31043741232022-12-3104374123core:WithinOneYear2023-12-3104374123core:WithinOneYear2022-12-3104374123core:ShareCapital2023-12-3104374123core:ShareCapital2022-12-3104374123core:OtherReservesSubtotal2023-12-3104374123core:OtherReservesSubtotal2022-12-3104374123core:RetainedEarningsAccumulatedLosses2023-12-3104374123core:RetainedEarningsAccumulatedLosses2022-12-3104374123bus:Director12023-01-012023-12-3104374123bus:RegisteredOffice2023-01-012023-12-31043741232022-01-012022-12-3104374123core:LandBuildings2023-01-0104374123core:LandBuildings2023-01-012023-12-3104374123core:LandBuildings2023-12-3104374123core:LandBuildings2022-12-31043741232023-01-0104374123countries:EnglandWales2023-01-012023-12-3104374123bus:AuditExempt-NoAccountantsReport2023-01-012023-12-3104374123bus:PrivateLimitedCompanyLtd2023-01-012023-12-3104374123bus:SmallEntities2023-01-012023-12-3104374123bus:FullAccounts2023-01-012023-12-31
Company registration number:
04374123
Walton House Limited
Unaudited Filleted Financial Statements for the year ended
31 December 2023
Walton House Limited
Statement of Financial Position
31 December 2023
20232022
Note££
Fixed assets    
Tangible assets 5
1,586,319
 
1,486,319
 
Current assets    
Debtors 6
6,924
  -  
Cash at bank and in hand
52,713
 
53,230
 
59,637
 
53,230
 
Creditors: amounts falling due within one year 7
(626,154
)
(632,760
)
Net current liabilities
(566,517
)
(579,530
)
Total assets less current liabilities 1,019,802   906,789  
Provisions for liabilities
(89,736
)
(70,736
)
Net assets
930,066
 
836,053
 
Capital and reserves    
Called up share capital
1
 
1
 
Other reserves
719,851
 
638,851
 
Profit and loss account
210,214
 
197,201
 
Shareholders funds
930,066
 
836,053
 
For the year ending
31 December 2023
, 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.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
14 September 2024
, and are signed on behalf of the board by:
Mrs H Walton
Director
Company registration number:
04374123
Walton House Limited
Notes to the Financial Statements
Year ended
31 December 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
51 Tweedy Road
,
Bromley
,
Kent
,
BR1 3NH
, United Kingdom.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and 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 assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Current tax

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.

Investment properties

Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Defined contribution pension plan

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.

4 Average number of employees

The average number of persons employed by the company during the year was
2
(2022:
2.00
).

5 Tangible assets

Land and buildings
£
Cost or valuation  
At
1 January 2023
1,486,319
 
Revaluations
100,000
 
At
31 December 2023
1,586,319
 
Depreciation  
At
1 January 2023
and
31 December 2023
-  
Carrying amount  
At
31 December 2023
1,586,319
 
At 31 December 2022
1,486,319
 

Tangible assets held at valuation

Investment property

Included in land and buildings are the following amounts in relation to investment properties:
2023
£
Carrying amount at
1 January 2023
1,486,319
 
Fair value adjustments
100,000
 
Carrying amount at
31 December 2023
1,586,319
 

6 Debtors

20232022
££
Other debtors
6,924
  -  

7 Creditors: amounts falling due within one year

20232022
££
Amounts owed to group undertakings and undertakings in which the company has a participating interest
619,788
 
627,720
 
Taxation and social security
2,735
 
2,002
 
Other creditors
3,631
 
3,038
 
626,154
 
632,760
 

8 Fair value reserve

Included within other reserves is the fair value reserve as follows:
20232022
££
At start of year 638,851   497,101  
Other movements in other comprehensive income 81,000   141,750  
At end of year 719,851   638,851  

9 Controlling party

The company is a wholly owned subsidiary of Walton Holdings (UK) Limited a company incorporated in England and Wales. The directors consider this to be the ultimate controlling party.