Company registration number 00043538 (England and Wales)
WALKER ALLEN & SONS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
Monetta LLP
Chartered Accountants
WALKER ALLEN & SONS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 7
WALKER ALLEN & SONS LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment properties
4
325,000
325,000
Investments
5
498,855
457,948
823,855
782,948
Current assets
Debtors
6
7,078
24,116
Cash at bank and in hand
36,365
55,706
43,443
79,822
Creditors: amounts falling due within one year
7
(9,759)
(18,772)
Net current assets
33,684
61,050
Total assets less current liabilities
857,539
843,998
Capital and reserves
Called up share capital
28,070
28,070
Revaluation reserve
63,922
63,922
Other reserves
33,922
33,922
Profit and loss reserves
731,625
718,084
Total equity
857,539
843,998
WALKER ALLEN & SONS LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024
31 March 2024
- 2 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

The financial statements were approved by the board of directors and authorised for issue on 4 October 2024 and are signed on its behalf by:
C L Schofield
Director
Company Registration No. 00043538
WALKER ALLEN & SONS LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
Share capital
Revaluation reserve
Other reserves
Profit and loss reserves
Total
Notes
£
£
£
£
£
Balance at 1 April 2022
28,070
63,922
33,922
714,367
840,281
Year ended 31 March 2023:
Profit and total comprehensive income
-
-
-
17,752
17,752
Dividends
-
-
-
(14,035)
(14,035)
Balance at 31 March 2023
28,070
63,922
33,922
718,084
843,998
Year ended 31 March 2024:
Profit and total comprehensive income
-
-
-
27,576
27,576
Dividends
-
-
-
(14,035)
(14,035)
Balance at 31 March 2024
28,070
63,922
33,922
731,625
857,539
WALKER ALLEN & SONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
1
Accounting policies
Company information

Walker Allen & Sons Limited is a private company limited by shares incorporated in England and Wales. The registered office is C/o Monetta LLP, 232 Stamford Street Central, Ashton Under Lyne, OL6 7NQ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Investment income

The investment income of the company is comprised of dividends from quoted investments adjusted for accrued income, bank interest received and rents received. The gains on realisation of investments are calculated as the difference between the sale proceeds, after expenses, and the original cost including expenses.

1.3
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

WALKER ALLEN & SONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 5 -
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

WALKER ALLEN & SONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
3
3
4
Investment property
2024
£
Fair value
At 1 April 2023 and 31 March 2024
325,000

The fair value of the investment property has been arrived at on the basis of a valuation carried out in September 2014 by Leslie Roberts & Co Ltd, Chartered Surveyors, who are not connected with the company.

5
Fixed asset investments
2024
2023
£
£
Investments
498,855
457,948
Fixed asset investments not carried at market value

Investments are recorded at historical cost. At 31 March 2024 the market value of investments was £697,000 (2023: £647,000).

Movements in fixed asset investments
Investments other than loans
£
Cost or valuation
At 1 April 2023
457,948
Additions
-
Disposals
-
At 31 March 2024
457,948
Carrying amount
At 31 March 2024
457,948
At 31 March 2023
457,948
WALKER ALLEN & SONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
7,078
24,116
7
Creditors: amounts falling due within one year
2024
2023
£
£
Taxation and social security
865
735
Other creditors
8,894
18,037
9,759
18,772
8
Events after the reporting date

It is proposed to pay a dividend of £2 per share in April 2024. This dividend has not been recognised as a liability in the financial statements for the year ended 31 March 2024, as it was approved after the balance sheet date.

9
Directors' transactions

Dividends totalling £5,270 (2023 - £5,270) were paid in the year in respect of shares held by the company's directors.

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