0 false true false false false false false false false false true false false false false false false No description of principal activity 2023-05-01 Sage Accounts Production Advanced 2023 - FRS102_2023 343,004 343,004 343,004 391,206 391,206 391,206 xbrli:pure xbrli:shares iso4217:GBP 11171263 2023-05-01 2024-04-30 11171263 2024-04-30 11171263 2023-04-30 11171263 2022-05-01 2023-04-30 11171263 2023-04-30 11171263 2022-04-30 11171263 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 11171263 bus:Director1 2023-05-01 2024-04-30 11171263 core:WithinOneYear 2024-04-30 11171263 core:WithinOneYear 2023-04-30 11171263 core:AfterOneYear 2024-04-30 11171263 core:AfterOneYear 2023-04-30 11171263 core:ShareCapital 2024-04-30 11171263 core:ShareCapital 2023-04-30 11171263 core:RetainedEarningsAccumulatedLosses 2024-04-30 11171263 core:RetainedEarningsAccumulatedLosses 2023-04-30 11171263 core:CostValuation core:Non-currentFinancialInstruments 2024-04-30 11171263 core:Non-currentFinancialInstruments 2024-04-30 11171263 core:Non-currentFinancialInstruments 2023-04-30 11171263 core:LandBuildings core:OwnedOrFreeholdAssets 2024-04-30 11171263 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-30 11171263 bus:SmallEntities 2023-05-01 2024-04-30 11171263 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 11171263 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 11171263 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 11171263 bus:FullAccounts 2023-05-01 2024-04-30 11171263 bus:OrdinaryShareClass1 2024-04-30 11171263 bus:OrdinaryShareClass1 2023-04-30
COMPANY REGISTRATION NUMBER: 11171263
WAL-KAR HOLDINGS LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
30 April 2024
WAL-KAR HOLDINGS LIMITED
STATEMENT OF FINANCIAL POSITION
30 April 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
4
343,004
343,004
Investments
5
391,206
391,206
---------
---------
734,210
734,210
Current assets
Debtors
6
116
73
Cash at bank and in hand
7,334
11,178
-------
--------
7,450
11,251
Creditors: amounts falling due within one year
7
174,199
216,150
---------
---------
Net current liabilities
166,749
204,899
---------
---------
Total assets less current liabilities
567,461
529,311
Creditors: amounts falling due after more than one year
8
254,704
286,004
---------
---------
Net assets
312,757
243,307
---------
---------
Capital and reserves
Called up share capital
9
1
1
Profit and loss account
312,756
243,306
---------
---------
Shareholders funds
312,757
243,307
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
WAL-KAR HOLDINGS LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
30 April 2024
These financial statements were approved by the board of directors and authorised for issue on 15 January 2025 , and are signed on behalf of the board by:
Mr M Walker
Director
Company registration number: 11171263
WAL-KAR HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 30 APRIL 2024
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is The Old Mill, Blisworth Hill Farm, Stoke Road, Blisworth, Northampton, NN7 3DB, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
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. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
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 entity after deducting all of its financial liabilities. 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.
4. Tangible assets
Freehold property
£
Cost
At 1 May 2023 and 30 April 2024
343,004
---------
Depreciation
At 1 May 2023 and 30 April 2024
---------
Carrying amount
At 30 April 2024
343,004
---------
At 30 April 2023
343,004
---------
The investment property was purchased in October 2021. At the balance sheet date, the director does not consider there to have been any material change in the fair value of the property since purchase.
5. Investments
Shares in group undertakings
£
Cost
At 1 May 2023 and 30 April 2024
391,206
---------
Impairment
At 1 May 2023 and 30 April 2024
---------
Carrying amount
At 30 April 2024
391,206
---------
At 30 April 2023
391,206
---------
6. Debtors
2024
2023
£
£
Trade debtors
116
73
----
----
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
23,891
24,314
Amounts owed to group undertakings and undertakings in which the company has a participating interest
104,973
110,473
Corporation tax
4,865
1,808
Social security and other taxes
1,848
1,809
Other creditors
38,622
77,746
---------
---------
174,199
216,150
---------
---------
Included within creditors is a bank loan, totalling £13,891, which is secured against the freehold property.
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
254,704
286,004
---------
---------
Included within creditors is a bank loan, totalling £229,202, which is secured against the freehold property.
9. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
1
1
1
1
----
----
----
----