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REGISTERED NUMBER: 11188113 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

WALSHAW HOMES LIMITED

WALSHAW HOMES LIMITED (REGISTERED NUMBER: 11188113)

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










Page

Statement of Financial Position 1 to 2

Notes to the Financial Statements 3 to 7


WALSHAW HOMES LIMITED (REGISTERED NUMBER: 11188113)

STATEMENT OF FINANCIAL POSITION
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 3,876 60,164

CURRENT ASSETS
Debtors 5 273,696 1,233,829
Cash at bank 57,991 13,377
331,687 1,247,206
CREDITORS
Amounts falling due within one year 6 (325,818 ) (987,113 )
NET CURRENT ASSETS 5,869 260,093
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,745

320,257

CREDITORS
Amounts falling due after more than one
year

7

-

(177,234

)
NET ASSETS 9,745 143,023

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings (255 ) 133,023
9,745 143,023

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 director acknowledges his 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.

WALSHAW HOMES LIMITED (REGISTERED NUMBER: 11188113)

STATEMENT OF FINANCIAL POSITION - 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 director and authorised for issue on 28 November 2024 and were signed by:





J Richards - Director


WALSHAW HOMES LIMITED (REGISTERED NUMBER: 11188113)

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


1. STATUTORY INFORMATION

Walshaw Homes Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 11188113

Registered office: C/O DPC
Stone House
Stone Road Business Park
Stoke-on-Trent
Staffordshire
ST4 6SR

The principal activity of the company is that of a property development company.

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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Key sources of estimation uncertainty

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:

As described in the accounting policies of the financial statements, depreciation of intangible and tangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take into account actual asset lives and residual values as evidenced by disposals during current and prior accounting periods.

Going concern
The accounts have been prepared on the going concern basis as the director has expressed his willingness to support the business for the foreseeable future.

WALSHAW HOMES LIMITED (REGISTERED NUMBER: 11188113)

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


2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% reducing balance
Motor vehicles - 25% reducing balance
Computer equipment - 25% on cost

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

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 statement of financial position date.


WALSHAW HOMES LIMITED (REGISTERED NUMBER: 11188113)

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 statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 March 2023 481 58,890 7,603 66,974
Additions - - 2,822 2,822
Disposals - (58,890 ) - (58,890 )
At 29 February 2024 481 - 10,425 10,906
DEPRECIATION
At 1 March 2023 210 2,454 4,146 6,810
Charge for year 68 - 2,606 2,674
Eliminated on disposal - (2,454 ) - (2,454 )
At 29 February 2024 278 - 6,752 7,030
NET BOOK VALUE
At 29 February 2024 203 - 3,673 3,876
At 28 February 2023 271 56,436 3,457 60,164

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 20,912 40,892
Amounts owed by group undertakings 10,352 919,012
Other debtors 226,920 226,920
Directors' loan accounts 4,627 -
Tax 33 -
VAT 7,894 43,400
Prepayments 2,958 3,605
273,696 1,233,829

WALSHAW HOMES LIMITED (REGISTERED NUMBER: 11188113)

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


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

Amounts owed by group and connected companies are unsecured, interest free and are repayable on demand.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Hire purchase contracts - 4,371
Trade creditors 96,693 169,354
Amounts owed to group undertakings - 499,594
Tax - 7,134
Social security and other taxes 3,340 32,661
Other creditors 12,156 11,170
Directors' loan accounts - 141,376
Accruals and deferred income 213,629 121,453
325,818 987,113

Amounts owed to group and connected companies are unsecured, interest free and are repayable on demand.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Other loans - 1-2 years - 129,000
Hire purchase contracts - 48,234
- 177,234

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 February 2024 and 28 February 2023:

29.2.24 28.2.23
£    £   
J Richards
Balance outstanding at start of year 141,377 141,511
Amounts advanced 112,850 1,326
Amounts repaid (258,854 ) (1,460 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (4,627 ) 141,377

The directors had an interest free loan during the year. By virtue of the loan account, a liability to taxation exists under section 455 CTA 2010 in the sum of £1,562 which will be repaid or discharged when the loan is repaid. It is anticipated that the loan will be repaid within nine months of the year end and, as such, no provision for the taxation has been made.

WALSHAW HOMES LIMITED (REGISTERED NUMBER: 11188113)

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


9. EVENTS AFTER THE END OF THE REPORTING PERIOD

There were no significant events up to the date of the approval of the financial statements by the Board.

10. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Walshaw Group Limited, a company incorporated in England and Wales.

11. GOING CONCERN

The financial statements have been prepared on the going concern basis which assumes that the
company will continue to trade for the foreseeable future, and continue to receive the support from the
company director.