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REGISTERED NUMBER: 01779952 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

WALTON GLASS LIMITED

WALTON GLASS LIMITED (REGISTERED NUMBER: 01779952)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

WALTON GLASS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: P Woolley
S McKee





REGISTERED OFFICE: 75 Cherry Avenue
Walton
Liverpool
Merseyside
L4 6UY





REGISTERED NUMBER: 01779952 (England and Wales)





ACCOUNTANTS: John Kerr - Chartered Accountants
375 Eaton Road
Liverpool
Merseyside
L12 2AH

WALTON GLASS LIMITED (REGISTERED NUMBER: 01779952)

BALANCE SHEET
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1 1
Tangible assets 5 24,195 30,518
Investments 6 - 4
24,196 30,523

CURRENT ASSETS
Stocks 12,955 15,283
Debtors 7 44,507 58,386
Cash at bank and in hand 15,971 32,287
73,433 105,956
CREDITORS
Amounts falling due within one year 8 100,834 43,662
NET CURRENT (LIABILITIES)/ASSETS (27,401 ) 62,294
TOTAL ASSETS LESS CURRENT LIABILITIES (3,205 ) 92,817

CREDITORS
Amounts falling due after more than one year 9 (111,421 ) (140,447 )

PROVISIONS FOR LIABILITIES - (3,620 )
NET LIABILITIES (114,626 ) (51,250 )

CAPITAL AND RESERVES
Called up share capital 4 4
Share premium 23,998 23,998
Retained earnings (138,628 ) (75,252 )
SHAREHOLDERS' FUNDS (114,626 ) (51,250 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

WALTON GLASS LIMITED (REGISTERED NUMBER: 01779952)

BALANCE SHEET - continued
29 FEBRUARY 2024


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 26 November 2024 and were signed on its behalf by:





P Woolley - Director


WALTON GLASS LIMITED (REGISTERED NUMBER: 01779952)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024


1. STATUTORY INFORMATION

Walton Glass 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 - going concern
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 company meets its day to day working capital requirements through loans provided by the director and unrelated third party lenders. On the basis of the director's monitoring of the ongoing cash flow information and his intention to continue to provide ongoing financial support to the company, the director considers it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from a withdrawal of the financing facilities by the director or the unrelated third party lenders.

Preparation of consolidated financial statements
The financial statements contain information about Walton Glass Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 1983, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 15% on reducing balance
Motor vehicles - 20% on cost

Investments in subsidiaries
Shares in group undertakings are stated at cost less provision for diminution in value.

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.


WALTON GLASS LIMITED (REGISTERED NUMBER: 01779952)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


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
The company operates defined contribution pension schemes. Contributions payable to the company's pension schemes 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 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 5,466
AMORTISATION
At 1 March 2023
and 29 February 2024 5,465
NET BOOK VALUE
At 29 February 2024 1
At 28 February 2023 1

5. TANGIBLE FIXED ASSETS
Freehold Plant and Motor
property machinery vehicles Totals
£    £    £    £   
COST
At 1 March 2023
and 29 February 2024 23,723 16,956 44,033 84,712
DEPRECIATION
At 1 March 2023 12,258 16,048 25,888 54,194
Charge for year 474 136 5,713 6,323
At 29 February 2024 12,732 16,184 31,601 60,517
NET BOOK VALUE
At 29 February 2024 10,991 772 12,432 24,195
At 28 February 2023 11,465 908 18,145 30,518

WALTON GLASS LIMITED (REGISTERED NUMBER: 01779952)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 March 2023
and 29 February 2024 315,788
PROVISIONS
At 1 March 2023 315,784
Provision for year 4
At 29 February 2024 315,788
NET BOOK VALUE
At 29 February 2024 -
At 28 February 2023 4

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 6,125 12,155
Amounts owed by group undertakings - 39,999
Other debtors 38,382 6,232
44,507 58,386

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans 29,000 26,500
Trade creditors 21,762 5,338
Amounts owed to group undertakings - 4
Taxation and social security 5,373 5,914
Other creditors 44,699 5,906
100,834 43,662

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans 111,421 140,447

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
WALTON GLASS LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Walton Glass Limited for the year ended 29 February 2024 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Walton Glass Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Walton Glass Limited and state those matters that we have agreed to state to the Board of Directors of Walton Glass Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Walton Glass Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Walton Glass Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Walton Glass Limited. You consider that Walton Glass Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Walton Glass Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






John Kerr - Chartered Accountants
375 Eaton Road
Liverpool
Merseyside
L12 2AH


26 November 2024