Registered number
03220779
Wallock Limited
Filleted Accounts
31 October 2024
Wallock Limited
Registered number: 03220779
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 - 300,000
Current assets
Debtors 4 10,000 -
Creditors: amounts falling due within one year 5 - (55,515)
Net current assets/(liabilities) 10,000 (55,515)
Net assets 10,000 244,485
Capital and reserves
Called up share capital 10,000 10,000
Revaluation reserve 6 - 234,485
Shareholder's funds 10,000 244,485
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
M G Tristram
Director
Approved by the board on 1 November 2024
Wallock Limited
Notes to the Accounts
for the year ended 31 October 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are stated under the cost model or at historical cost less accumulated impainnent iosses. Historical cost inciudes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the mannor intended by management. No depreciation is charged on the freehold land held by the company and the asset is heid at cost in line with FRS102 section 17 after satisfying Section 16.4A.
Investments property
Investment property is carried at fair value determined annually by internal valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Comprehensive Income.
Creditors
Short-term creditors are measured at the transaction price. Other financial iiabilities, including bank loans, are measured initially at fair value, net of transaction costs.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 3
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 November 2023 300,000
Deficit on revaluation (225,000)
Disposals (75,000)
At 31 October 2024 -
Depreciation
At 31 October 2024 -
Net book value
At 31 October 2024 -
At 31 October 2023 300,000
4 Debtors 2024 2023
£ £
Amounts owed by group undertakings and undertakings in which the company has a participating interest 9,897 -
Other debtors 103 -
10,000 -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors - 55,515
6 Revaluation reserve 2024 2023
£ £
At 1 November 2023 234,485 234,485
Removal on sale of land and buildings (234,485) -
At 31 October 2024 - 234,485
7 Related party transactions
Farplants Group Limited (under common control)
At the balance sheet date the amount due from Farplants Group Limited was £6,897 (2023: due from Farplants Group Limited £55,515).
Walberton Nursery Limited (under common control)
At the balance sheet date the amount due from Walberton Nursery Limited was £3,000 (2023: nil).
8 Controlling party
The parent company is Farplants Group Limited, registered in England & Wales. The ultimate controlling party is M G Tristram.
9 Other information
Wallock Limited is a private company limited by shares and incorporated in England. Its registered office is:
Yapton Lane
Walberton
Arundel
West Sussex
BN18 0AS
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