Registered number:
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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H G WALTER LIMITED
CONTENTS
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H G WALTER LIMITED
COMPANY INFORMATION
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H G WALTER LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
The directors present the strategic report for the year ended 30 September 2024.
We are an independent family-run butcher committed to providing every professional chef and home cook with an exceptional product and service to create exceptional food. Established in 1972 by Peter Heanen, we have become one of the UK’s most respected butchers, supplying some of the country's best chefs and restaurants. We share the importance of eating quality meat, supporting supply chains, and sustainable farming while striving to be the best butcher in the UK. The principal activity of the company continued to be the sale of meat and meat products.
The profit and loss account on page 11 of the financial statements provides a summary of the company's trading results for the year. The performance and results for the year are in line with the directors' expectations.
During the year the business enjoyed further growth with turnover increasing by 12.8% from £42.9m to £48.3m. This growth was driven by an increasing share of the wholesale market and a wider product range. The additional activity continues to provide a good return on the investment in the warehouse premises. The wholesale sector of the business remains strong, having achieved increasing profits whilst operating within a turbulent market. The directors remain focused on continuing to strengthen this area of the business as well as further developing their online presence and achieving continued growth in both revenue and profits. The company's balance sheet remains strong with net current assets of £6m (2023: £6.4m) and shareholders' funds of £9.8m (2023: £7.7m). Profitability has enabled the company to make significant investment in the warehousing operations to strengthen the logistics and opportunities for a wider customer base. The directors continue to review the business and industry to minimise or mitigate the risks that are prevalent in a commercial environment. The company continues to develop its extensive product range.
The principal risk to the company is that of supply chain disruption. This risk is further increased on the basis that the company operates within a highly competitive marketplace. The company mitigates this risk, in part, through a diverse supply chain base and does not rely on any one single supplier. There are, however, factors that are more difficult to mitigate and plan for, including political, weather and regulatory challenges.
Product safety and quality are also a key risk to the company. The directors are confident that the wholesale, e-commerce and retail premises are well placed to mitigate this risk as the company has stringent procedures in place to ensure the highest standards of food safety and quality. These procedures are regularly reviewed, and the company has a compliance led approach to any issues that would impact potential safety concerns. The risk of commodity prices on the cost of goods sold is mitigated by careful stock management. The financial instruments used by the company arise wholly and directly from its activities. The main financial instruments comprise debtors, cash at bank and trade creditors. The financial risks arising from these financial instruments are considered low. The mature financial stability of the business ensures the company maintains excellent terms with preferred suppliers and their credit partners. Cash reserves have remained healthy over the year and the company continues to trade with the support of bank loans. Working capital will continue to be monitored on a regular basis by the directors. The directors have not delegated the responsibility of monitoring financial risk management, and the company's finance department implements the policies set by the company's directors. The department has specific guidelines agreed by the directors to manage credit risk.
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H G WALTER LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Principal risks and uncertainties (continued)
Credit risk The company has implemented policies that require appropriate credit checks on potential customers before new accounts are accepted. Furthermore, credit limits are set in place and reviewed on a quarterly basis. Liquidity and cash flow risk The directors consider the company to have sufficient available funds for operations. The directors are presented with cashflow reporting on a monthly basis where future plans, opportunities and risk are discussed. Price risk Expenditure made by the company is authorised prior to it being made by management in order to ensure that goods and services are not obtained at a higher price than necessary.
∙Carbon Footprint Measurement: HG Walter has been working with external consultants on an annual carbon footprint measurement project, measuring scopes 1, 2, and 3 carbon emissions to establish a robust baseline for emissions reduction and mitigation.
∙Decarbonisation Initiatives: Partnering with Brunel University on their Park Royal Net Zero Food Systems project to guide the business through decarbonisation initiatives for the new site build.
∙Supply Chain Transparency: Adopting a whole-carcass usage model minimising food waste by utilising potential products in other areas of food production. For example, we produce our own burgers, sausages, bacon and other handmade products
∙Support for Local Farmers: Prioritise sourcing native free-range breeds and products from British farmers to reduce food miles and support the local economy.
∙Eco-Friendly Packaging: Use recyclable, reusable, or reduced packaging materials to minimise environmental impact. Work with experts in packaging development to find more sustainable solutions for single-use plastic.
∙Sustainable Farming Partnerships: Collaborate with farms that practice biodiversity-friendly and, where possible, regenerative farming methods, ensuring the highest welfare standards. A priority is identifying ways in which HG Walter can support farmers in efforts to move further into a sustainable system.
∙UK Farming Initiative Support: Supporting Pasture for Life, Slow Food UK, and Soil Association to promote positive farming change in the UK.
∙Community Engagement: Partnering with local initiatives, food banks, and charities (namely The Felix Project, Refettorio Felix and St Andrews Church) that align with corporate social responsibility goals.
∙Training and Apprenticeship Schemes: Provide comprehensive butchery training, professional development for office staff, and hands-on farm trips for all teams to enhance skills, understanding, and engagement with the supply chain.
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H G WALTER LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
The non-financial key performance indicators include ensuring that product and service quality are of the highest value whilst constantly striving to improve quality control measures. The company also identifies customer care services as being significant.
The directors are mindful of environmental issues and have sought to minimise the impact of the company's activities on the environment. In addition, other non-financial key performance indicators include raising brand awareness and the company profile, measured by both customer and supplier loyalties and other attributes such as patents and trademarks. Key performance indicators are maintained across all parts of the business to ensure we are constantly monitoring and challenging our results. Future developments The company continues its commitment to supplying a range of products to a widening market of customers who require wholesale products at a competitive price. The company is continually enhancing its logistics network and production facilities, and forecasts further growth from supply to major retailers, as well as expanding its online presence. The traditional customer base of hospitality and retail remains at the heart of the business strategy and the company aims to continue delivering high quality service to all its customers. During the year, the company secured a lease for a larger wholesale facility located in close proximity to our current site. Significant capital investment is underway to enhance the new premises, ensuring it supports the long-term growth of the business. The new facility will deliver substantial increases in capacity and operational efficiency, providing the foundation to elevate the business to the next stage of its development. The transition to the new site is scheduled for Q4 2025, at which point the existing wholesale premises will be vacated. The company remains well-positioned to deliver long-term value for stakeholders by prioritising quality, innovation, and sustainable practices. Through strategic investments, operational excellence, and unwavering commitment to our customers, the directors are confident in sustaining growth and maintaining our reputation in the market.
This report was approved by the board and signed on its behalf.
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H G WALTER LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
The directors present their report and the financial statements for the year ended 30 September 2024.
The profit for the year, after taxation, amounted to £2,987,544 (2023 - £3,927,672).
Ordinary dividends were paid amounting to £981,093 (2023: £1,365,762).
The directors who served during the year were:
As permitted by s414c(11) of the Companies Act 2006, the directors have elected to disclose information, required to be in the directors' report by Schedule 7 of the 'Large and Medium sized Companies and Groups (Accounts and Reports) Regulations 2008', in the strategic report.
This report was approved by the board and signed on its behalf.
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H G WALTER LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
The directors are responsible for preparing the strategic report, the directors' report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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H G WALTER LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF H G WALTER LIMITED
FOR THE YEAR ENDED 30 SEPTEMBER 2024
We have audited the financial statements of H G Walter Limited (the 'company') for the year ended 30 September 2024, which comprise the profit and loss account, the balance sheet, the statement of changes in equity, the statement of cash flows and the notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
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H G WALTER LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF H G WALTER LIMITED (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the strategic report and the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the strategic report and the directors' report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report or the directors' report.
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H G WALTER LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF H G WALTER LIMITED (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
∙the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
∙we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the company's sector;
∙we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, employment, and food safety legislation;
∙we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
∙identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by;
∙making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
∙considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
To address the risk of fraud through management bias and override of controls, we:
∙performed analytical procedures to identify any unusual or unexpected relationships;
∙tested a sample of journal entries to identify unusual transactions;
∙assessed whether judgements and assumptions made in determining the accounting estimates set out in note 3 were indicative of potential bias; and
∙investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
∙agreeing financial statement disclosures to underlying supporting documentation;
∙reading the minutes of meetings of those charged with governance;
∙enquiring of management as to actual and potential litigation and claims; and
∙reviewing correspondence with HM Revenue and Customs.
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H G WALTER LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF H G WALTER LIMITED (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Auditor's responsibilities for the audit of the financial statements (continued)
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants
Statutory Auditor
16 Great Queen Street
Covent Garden
WC2B 5AH
Date:
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H G WALTER LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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H G WALTER LIMITED
BALANCE SHEET
AS AT 30 SEPTEMBER 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 15 to 32 form part of these financial statements.
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H G WALTER LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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H G WALTER LIMITED
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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H G WALTER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
H G Walter Limited is a family-owned and run, independent butcher renowned for supplying some of London’s finest restaurants. The company operates from a warehouse, and retail shop in the UK. The company exclusively serves customers within the country.
The company is a private company limited by shares incorporated in England and Wales. The address of its registered office and principal place of business is Unit 737 Tudor Estate, Abbey Road, Park Royal London, NW10 7UN. The financial statements are presented in Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies (see note 3).
The following principal accounting policies have been applied:
After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
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H G WALTER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
2.Accounting policies (continued)
Functional and presentation currency
Transactions and balances
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H G WALTER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
2.Accounting policies (continued)
The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income. Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
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H G WALTER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
There has been a change in estimate for leasehold improvements from over 14 years to over the lease terms in the current year.
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H G WALTER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
2.Accounting policies (continued)
The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.
Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. 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 company after deducting all of its liabilities. The company’s policies for its major classes of financial assets and financial liabilities are set out below. Financial assets Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment. Financial liabilities Basic financial liabilities, including trade and other creditors, and bank loans are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Impairment of financial assets Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
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H G WALTER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
2.Accounting policies (continued)
2.14 Financial instruments (continued)
Derecognition of financial assets and financial liabilities Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. Offsetting of financial assets and financial liabilities Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Ordinary shares are classified as equity.
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H G WALTER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Critical judgements The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements. Key accounting estimates and assumptions Determining residual values and useful economic lives of tangible fixed assets The company depreciates tangible fixed assets over their estimated useful lives. The estimation of the useful lives of assets is based on historic performance, as well as expectations about future use, and therefore requires estimates and assumptions to be applied by management. The actual lives of these assets can vary depending on a variety of factors, including product life cycles and maintenance programmes. Judgement is applied by management when determining the residual values for tangible and intangible fixed assets. When determining the residual value, management aim to assess the amount that the company would currently obtain for the disposal of the assets, if it were already of the condition expected at the end of its useful economic life. Dilapidations A provision has been made for potential dilapidation claims. These claims generally arise from obligations to restore leased premises to their original condition at the end of a lease term. Estimating the amount of any dilapidation liability requires judgment regarding both the extent of the dilapidations and the cost of the required repairs. The directors have made their assessment of the potential liability based on available information, including:
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H G WALTER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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H G WALTER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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H G WALTER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
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H G WALTER LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
10.Taxation (continued)
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