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REGISTERED NUMBER: 00859614 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

C E WALTON & CO. LIMITED

C E WALTON & CO. LIMITED (REGISTERED NUMBER: 00859614)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


C E WALTON & CO. LIMITED

Company Information
for the Year Ended 31 December 2023







DIRECTOR: S P Doherty





SECRETARY: P Bradford





REGISTERED OFFICE: Unit 5 Ninian Park
Ninian Way
Wilnecote
Tamworth
B77 5ES





REGISTERED NUMBER: 00859614 (England and Wales)





ACCOUNTANTS: S Burgess & Co Ltd
11 Slayleigh Avenue
Sheffield
South Yorkshire
S10 3RA

C E WALTON & CO. LIMITED (REGISTERED NUMBER: 00859614)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 23,990 26,990
Tangible assets 5 249,133 252,893
273,123 279,883

CURRENT ASSETS
Debtors 6 102,022 121,779
Cash at bank and in hand 264,614 320,438
366,636 442,217
CREDITORS
Amounts falling due within one year 7 220,032 203,479
NET CURRENT ASSETS 146,604 238,738
TOTAL ASSETS LESS CURRENT
LIABILITIES

419,727

518,621

CREDITORS
Amounts falling due after more than one
year

8

(18,832

)

(142,425

)

PROVISIONS FOR LIABILITIES 10 (50,178 ) (46,896 )
NET ASSETS 350,717 329,300

CAPITAL AND RESERVES
Called up share capital 11 1,000 1,000
Retained earnings 349,717 328,300
SHAREHOLDERS' FUNDS 350,717 329,300

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

C E WALTON & CO. LIMITED (REGISTERED NUMBER: 00859614)

Balance Sheet - continued
31 December 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 director and authorised for issue on 30 June 2024 and were signed by:





S P Doherty - Director


C E WALTON & CO. LIMITED (REGISTERED NUMBER: 00859614)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

C E Walton & Co. 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.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover comprises the net invoiced value of drain repair and drain cleaning work, excluding value added tax, and is recognised upon the completion of the work.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.

Further goodwill was acquired in September 2021 upon the acquisition of part of a business. This goodwill is amortised over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance

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.


C E WALTON & CO. LIMITED (REGISTERED NUMBER: 00859614)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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.

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.

Debtors and creditors due within one year
Debtors and creditors with no stated interest rate, which are due within one year, are stated at the transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income within administrative expenses.

Impairment
At each balance sheet date, assets are reviewed to determine whether there is any indication that any of the individual assets have suffered an impairment. If such indication exists, the recoverable amount of the asset, or the assets cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in the statement of comprehensive income.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2022 - 26 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 185,800
AMORTISATION
At 1 January 2023 158,810
Amortisation for year 3,000
At 31 December 2023 161,810
NET BOOK VALUE
At 31 December 2023 23,990
At 31 December 2022 26,990

C E WALTON & CO. LIMITED (REGISTERED NUMBER: 00859614)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 January 2023 325,560 20,715 382,534 728,809
Additions 19,779 3,730 82,649 106,158
Disposals (191,766 ) (16,933 ) (59,460 ) (268,159 )
At 31 December 2023 153,573 7,512 405,723 566,808
DEPRECIATION
At 1 January 2023 235,416 16,125 224,375 475,916
Charge for year 17,785 1,224 57,749 76,758
Eliminated on disposal (170,771 ) (14,582 ) (49,646 ) (234,999 )
At 31 December 2023 82,430 2,767 232,478 317,675
NET BOOK VALUE
At 31 December 2023 71,143 4,745 173,245 249,133
At 31 December 2022 90,144 4,590 158,159 252,893

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 81,886 103,796
Other debtors 3,591 5,282
Prepayments 16,545 12,701
102,022 121,779

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 36,357 30,000
Hire purchase contracts (see note 9) 34,243 37,647
Trade creditors 74,664 54,606
Corporation tax 18,478 12,938
Social security and other taxes 12,167 10,972
VAT 25,844 29,252
Other creditors 3,049 6,343
Directors' current accounts - 3,551
Accrued expenses 15,230 18,170
220,032 203,479

C E WALTON & CO. LIMITED (REGISTERED NUMBER: 00859614)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans - 102,525
Hire purchase contracts (see note 9) 18,832 39,900
18,832 142,425

9. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.12.23 31.12.22
£    £   
Net obligations repayable:
Within one year 34,243 37,647
Between one and five years 18,832 39,900
53,075 77,547

Non-cancellable operating leases
31.12.23 31.12.22
£    £   
Within one year 20,640 20,640
Between one and five years 41,280 61,920
61,920 82,560

10. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred taxation 50,178 46,896

Deferred
tax
£   
Balance at 1 January 2023 46,896
Accelerated capital allowances 3,282
Balance at 31 December 2023 50,178

C E WALTON & CO. LIMITED (REGISTERED NUMBER: 00859614)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
1,000 Ordinary £1 1,000 1,000