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REGISTERED NUMBER: 08504505 (England and Wales)









WALFORD HOMES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024






WALFORD HOMES LIMITED (REGISTERED NUMBER: 08504505)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WALFORD HOMES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: Mr I Narbeth
C C Narbeth





SECRETARY: C Narbeth





REGISTERED OFFICE: 70 High Street
Wivenhoe
Essex
C07 9AB





REGISTERED NUMBER: 08504505 (England and Wales)





ACCOUNTANTS: Morris Crocker
Chartered Accountants
Station House
North Street
Havant
Hampshire
PO9 1QU

WALFORD HOMES LIMITED (REGISTERED NUMBER: 08504505)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 4,136
Investment property 5 1,200,000 1,200,000
1,200,000 1,204,136

CURRENT ASSETS
Debtors 6 17,193 13,035
Cash at bank 30,758 63,913
47,951 76,948
CREDITORS
Amounts falling due within one year 7 53,749 51,190
NET CURRENT (LIABILITIES)/ASSETS (5,798 ) 25,758
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,194,202

1,229,894

CREDITORS
Amounts falling due after more than one
year

8

(833,600

)

(833,600

)

PROVISIONS FOR LIABILITIES (42,771 ) (42,808 )
NET ASSETS 317,831 353,486

CAPITAL AND RESERVES
Called up share capital 100 100
Other reserves 128,313 128,313
Retained earnings 189,418 225,073
317,831 353,486

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

WALFORD HOMES LIMITED (REGISTERED NUMBER: 08504505)

BALANCE SHEET - continued
30 APRIL 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 January 2025 and were signed on its behalf by:





Mr I Narbeth - Director


WALFORD HOMES LIMITED (REGISTERED NUMBER: 08504505)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

Walford Homes 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
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 as modified by the revaluation of certain assets.

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

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 etc - 33% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties and investments in non-puttable ordinary shares.

Trade and other debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, deposits with banks and other short-term highly liquid investments and bank overdrafts. In the balance sheet, bank overdrafts are shown within borrowings or current liabilities.

Trade and other creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


WALFORD HOMES LIMITED (REGISTERED NUMBER: 08504505)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 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 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 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023
and 30 April 2024 67,022
DEPRECIATION
At 1 May 2023 62,886
Charge for year 4,136
At 30 April 2024 67,022
NET BOOK VALUE
At 30 April 2024 -
At 30 April 2023 4,136

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 1,200,000
NET BOOK VALUE
At 30 April 2024 1,200,000
At 30 April 2023 1,200,000

WALFORD HOMES LIMITED (REGISTERED NUMBER: 08504505)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

5. INVESTMENT PROPERTY - continued

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2021 48,911
Valuation in 2022 122,173
Cost 1,028,916
1,200,000

If the properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,028,916 1,028,916

The properties were valued on an open market basis on 30 April 2023 by by the directors. .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 5,841 8,510
Other debtors 11,352 4,525
17,193 13,035

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 10,874 598
Taxation and social security 27,696 37,031
Other creditors 15,179 13,561
53,749 51,190

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 833,600 833,600

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 833,600 833,600

WALFORD HOMES LIMITED (REGISTERED NUMBER: 08504505)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Other loans 833,600 833,600

the mortgage is secured by first legal charge over the property.