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REGISTERED NUMBER: 01039446 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Walkers Enterprises (Devon) Ltd

Walkers Enterprises (Devon) Ltd (Registered number: 01039446)

Contents of the Financial Statements
for the Year Ended 31 March 2024










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Walkers Enterprises (Devon) Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mrs S I Walker
Mr S J Walker





REGISTERED OFFICE: 69 High Street
Bideford
Devon
EX39 2AT





REGISTERED NUMBER: 01039446 (England and Wales)





ACCOUNTANTS: R T Marke & Co Ltd
Chartered Accountants
69 High Street
Bideford
Devon
EX39 2AT

Walkers Enterprises (Devon) Ltd (Registered number: 01039446)

Abridged Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 78,290 78,599
Investment property 6 95,000 95,000
173,290 173,599

CURRENT ASSETS
Stocks - 625
Debtors 7 225,987 231,918
Cash at bank and in hand 5,954 28,215
231,941 260,758
CREDITORS
Amounts falling due within one year 22,199 16,619
NET CURRENT ASSETS 209,742 244,139
TOTAL ASSETS LESS CURRENT
LIABILITIES

383,032

417,738

PROVISIONS FOR LIABILITIES 9,855 9,863
NET ASSETS 373,177 407,875

CAPITAL AND RESERVES
Called up share capital 9 11,112 11,112
Revaluation reserve 10 48,275 49,444
Retained earnings 313,790 347,319
SHAREHOLDERS' FUNDS 373,177 407,875

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

Walkers Enterprises (Devon) Ltd (Registered number: 01039446)

Abridged Balance Sheet - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 September 2024 and were signed on its behalf by:





Mr S J Walker - Director


Walkers Enterprises (Devon) Ltd (Registered number: 01039446)

Notes to the Financial Statements
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

Walkers Enterprises (Devon) 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

The principal accounting policies adopted in the preparation of the financial statements are set out below and remain unchanged from the previous period, and also have been consistently applied within the same accounts.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes, together with interest earned on loans outstanding during the year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% straight line
Improvements to property - 5% straight line
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

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. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. No depreciation is provided in respect of investment properties.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial instruments with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs.


Walkers Enterprises (Devon) Ltd (Registered number: 01039446)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


3. ACCOUNTING POLICIES - continued
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.

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Going concern
Having regard to the company's anticipated future revenues and costs including repayment of debt where appropriate, together with the expected availability of working capital, the directors consider that it is appropriate to prepare the financial statements on the going concern basis.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

Walkers Enterprises (Devon) Ltd (Registered number: 01039446)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


5. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 April 2023 150,488
Additions 28,175
Disposals (31,800 )
At 31 March 2024 146,863
DEPRECIATION
At 1 April 2023 71,889
Charge for year 10,597
Eliminated on disposal (13,913 )
At 31 March 2024 68,573
NET BOOK VALUE
At 31 March 2024 78,290
At 31 March 2023 78,599

The valuation of freehold property at 1 April 2015 of £65,400 was made on an open market value basis by the directors.

The company has taken advantage of the transitional provisions available on the introduction of FRS 102 to carry those assets at that value less depreciation in subsequent years. Subsequent additions to freehold property are included at cost.

The original cost of freehold property was £6,531 (2023 - £6,531).


6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 95,000
NET BOOK VALUE
At 31 March 2024 95,000
At 31 March 2023 95,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2016 57,551
Valuation in 2020 29,000
Cost 8,449
95,000

Walkers Enterprises (Devon) Ltd (Registered number: 01039446)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


6. INVESTMENT PROPERTY - continued

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

2024 2023
£    £   
Cost 8,449 8,449

The freehold investment property was valued on an open market basis at the balance sheet date.

The investment property is accounted for at fair value on an on-going basis.

7. DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Trade debtors 123,966 136,051
Other debtors 3,430 2,777
127,396 138,828

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdraft 1,458 -

Bank loans and overdrafts are secured by fixed and floating charges over the company's assets.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
5,000 Ordinary A £1 5,000 5,000
5,000 Ordinary B £1 5,000 5,000
1,112 Ordinary C £1 1,112 1,112
11,112 11,112

Walkers Enterprises (Devon) Ltd (Registered number: 01039446)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024


10. RESERVES
Revaluation
reserve
£   
At 1 April 2023 49,444
Transfer between reserves (1,177 )
Deferred tax 8

At 31 March 2024 48,275

Included in retained earnings is £76,696 (2023 - £76,696) of profits which are not available for distribution as they are unrealised.