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REGISTERED NUMBER: 05999360 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

WALSALL FINANCIAL SERVICES LIMITED

WALSALL FINANCIAL SERVICES LIMITED (REGISTERED NUMBER: 05999360)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


WALSALL FINANCIAL SERVICES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: A Patel





SECRETARY: Mrs R Patel





REGISTERED OFFICE: Six Ways House
6 Birmingham Road
Walsall
West Midlands
WS1 2NA





REGISTERED NUMBER: 05999360 (England and Wales)





ACCOUNTANTS: SPS Accounting Ltd
1st Floor
44 Queen Street
Wolverhampton
West Midlands
WV1 3BJ

WALSALL FINANCIAL SERVICES LIMITED (REGISTERED NUMBER: 05999360)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Debtors 4 86,260 40,788
Cash at bank 17,423 13,224
103,683 54,012
CREDITORS
Amounts falling due within one year 5 63,989 7,395
NET CURRENT ASSETS 39,694 46,617
TOTAL ASSETS LESS CURRENT
LIABILITIES

39,694

46,617

CREDITORS
Amounts falling due after more than one
year

6

23,764

30,432
NET ASSETS 15,930 16,185

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 15,730 15,985
SHAREHOLDERS' FUNDS 15,930 16,185

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

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

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 director and authorised for issue on 27 December 2024 and were signed by:




A Patel - Director


WALSALL FINANCIAL SERVICES LIMITED (REGISTERED NUMBER: 05999360)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Walsall Financial Services 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.

The director has reviewed the position of the company and believes that the business will continue to trade as a going concern for the foreseeable future.

Turnover
Turnover shown in the profit and loss account represents amounts invoiced in the year.

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.

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 of assetsthe 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 86,260 40,788

WALSALL FINANCIAL SERVICES LIMITED (REGISTERED NUMBER: 05999360)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 2,867 4,794
Other creditors 61,122 2,601
63,989 7,395

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 23,764 30,432

7. RELATED PARTY TRANSACTIONS

The company was under the control of Mr Ashvin Patel throughout the year. Mr Ashvin Patel is the managing director and 50% shareholder.

No transactions with related parties were undertaken such as required to be disclosed under Financial Reporting Standard no 102.