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REGISTERED NUMBER: 04336251 (England and Wales)













FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 DECEMBER 2023

FOR

WALLIS & BEARD LTD

WALLIS & BEARD LTD (REGISTERED NUMBER: 04336251)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


WALLIS & BEARD LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 DECEMBER 2023







DIRECTORS: Mr P Beard
Mr R J S Wallis
Mr B Wilson



SECRETARY: Mr P Beard



REGISTERED OFFICE: 1 Brooking
Dartington
Totnes
Devon
TQ9 6DR



REGISTERED NUMBER: 04336251 (England and Wales)



ACCOUNTANTS: Marsland Nash Associates
Chartered Tax Advisers, Accountants
and Business Consultants
Vantage Point House
Silverhills Road
Decoy Industrial Estate
Newton Abbot
Devon
TQ12 5ND



BANKERS: Lloyds
31 Fore Street
Totnes
Devon
TQ9 5HH

WALLIS & BEARD LTD (REGISTERED NUMBER: 04336251)

BALANCE SHEET
30 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 7,607

CURRENT ASSETS
Stocks 5 350 350
Debtors 6 28,764 85,499
Cash at bank 33,764 12,102
62,878 97,951
CREDITORS
Amounts falling due within one year 7 54,841 43,784
NET CURRENT ASSETS 8,037 54,167
TOTAL ASSETS LESS CURRENT LIABILITIES 8,037 61,774

PROVISIONS FOR LIABILITIES - 1,445
NET ASSETS 8,037 60,329

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 7,937 60,229
SHAREHOLDERS' FUNDS 8,037 60,329

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

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

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 September 2024 and were signed on its behalf by:



Mr R J S Wallis - Director


WALLIS & BEARD LTD (REGISTERED NUMBER: 04336251)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 DECEMBER 2023


1. STATUTORY INFORMATION

Wallis & Beard Ltd 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.

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
Motor vehicles - 25% 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 Statement of Income and Retained Earnings, 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

WALLIS & BEARD LTD (REGISTERED NUMBER: 04336251)

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


4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 31 December 2022 6,241 19,000 25,241
Disposals (6,241 ) (19,000 ) (25,241 )
At 30 December 2023 - - -
DEPRECIATION
At 31 December 2022 5,806 11,828 17,634
Eliminated on disposal (5,806 ) (11,828 ) (17,634 )
At 30 December 2023 - - -
NET BOOK VALUE
At 30 December 2023 - - -
At 30 December 2022 435 7,172 7,607

5. STOCKS
2023 2022
£    £   
Stocks 350 350

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 12,859 39,391
Amounts recoverable on contract 10,620 40,796
Tax 4,171 -
VAT 1,114 5,312
28,764 85,499

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 3,262 3,099
Tax 954 7,415
Directors' current accounts 44,883 27,825
Accrued expenses 5,742 5,445
54,841 43,784

WALLIS & BEARD LTD (REGISTERED NUMBER: 04336251)

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


8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 30 December 2023 and the period ended 30 December 2022:

2023 2022
£    £   
Mr P Beard
Balance outstanding at start of year (8,850 ) (42,044 )
Amounts advanced 12,400 63,068
Amounts repaid (20,696 ) (29,874 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (17,146 ) (8,850 )

Mr R J S Wallis
Balance outstanding at start of year (17,704 ) (42,043 )
Amounts advanced 23,296 67,696
Amounts repaid (32,058 ) (43,357 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (26,466 ) (17,704 )

Mr B Wilson
Balance outstanding at start of year (1,271 ) (1,271 )
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1,271 ) (1,271 )

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £25,227 (2022 - £48,500) were paid to the directors .

Loans are unsecured and repayable on demand. Interest is charged at 10% in the year on credit loan balances.