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REGISTERED NUMBER: 05028481 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2023

FOR

WALKINSHAW PERFORMANCE LIMITED

WALKINSHAW PERFORMANCE LIMITED (REGISTERED NUMBER: 05028481)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WALKINSHAW PERFORMANCE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2023







DIRECTORS: K Page
S N T Walkinshaw





SECRETARY: K Page





REGISTERED OFFICE: Manufactory House
Bell Lane
Hertford
Hertfordshire
SG14 1BP





REGISTERED NUMBER: 05028481 (England and Wales)





ACCOUNTANTS: Cook & Partners Limited
Manufactory House
Bell Lane
Hertford
Hertfordshire
SG14 1BP

WALKINSHAW PERFORMANCE LIMITED (REGISTERED NUMBER: 05028481)

BALANCE SHEET
31ST DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,416 2,336
1,416 2,336

CURRENT ASSETS
Stocks 235,841 230,089
Debtors 6 65,018 99,146
Cash at bank 11,411 15,425
312,270 344,660
CREDITORS
Amounts falling due within one year 7 65,568 73,822
NET CURRENT ASSETS 246,702 270,838
TOTAL ASSETS LESS CURRENT
LIABILITIES

248,118

273,174

CREDITORS
Amounts falling due after more than one
year

8

604,264

559,368
NET LIABILITIES (356,146 ) (286,194 )

CAPITAL AND RESERVES
Called up share capital 900,000 900,000
Retained earnings (1,256,146 ) (1,186,194 )
SHAREHOLDERS' FUNDS (356,146 ) (286,194 )

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

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

WALKINSHAW PERFORMANCE LIMITED (REGISTERED NUMBER: 05028481)

BALANCE SHEET - continued
31ST 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 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 30th September 2024 and were signed on its behalf by:





K Page - Director


WALKINSHAW PERFORMANCE LIMITED (REGISTERED NUMBER: 05028481)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023

1. STATUTORY INFORMATION

Walkinshaw Performance 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

Accounting convention
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.

Going Concern Justification
The directors have assessed various factors and risks affecting the company and its ability in these difficult economic times to continue to trade as a going concern. The directors have not identified any material uncertainties or risks related to events or conditions that could affect the carrying values of the company's assets and liabilities as at the balance sheet date. Therefore the financial statements for the year ended 31 December 2023 have been prepared using the going concern basis of accounting.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Development costs
Development costs capitalised relate to race car development undertaken in 2014 and subsequently 2016 and have been amortised over the expected life of the asset which is deemed by the directors to be 5 years with no residual value.

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 - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 7 ) .

WALKINSHAW PERFORMANCE LIMITED (REGISTERED NUMBER: 05028481)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

4. INTANGIBLE FIXED ASSETS
Development
costs
£   
COST
At 1st January 2023
and 31st December 2023 775,000
AMORTISATION
At 1st January 2023
and 31st December 2023 775,000
NET BOOK VALUE
At 31st December 2023 -
At 31st December 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1st January 2023
and 31st December 2023 13,880 22,780 53,794 9,535 99,989
DEPRECIATION
At 1st January 2023 13,670 20,655 53,794 9,534 97,653
Charge for year 210 709 - 1 920
At 31st December 2023 13,880 21,364 53,794 9,535 98,573
NET BOOK VALUE
At 31st December 2023 - 1,416 - - 1,416
At 31st December 2022 210 2,125 - 1 2,336

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 65,018 99,146

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 38,363 47,049
Social security and other taxes 11,151 15,725
VAT 12,454 11,048
Accrued expenses 3,600 -
65,568 73,822

WALKINSHAW PERFORMANCE LIMITED (REGISTERED NUMBER: 05028481)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 604,264 559,368

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is unknown.