2023-05-012024-03-312024-03-31false03351035WALKER SINGLETON (COMMERCIAL) 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WALKER SINGLETON (COMMERCIAL) LIMITED

Registered Number
03351035
(England and Wales)

Unaudited Financial Statements for the Period ended
31 March 2024

WALKER SINGLETON (COMMERCIAL) LIMITED
Company Information
for the period from 1 May 2023 to 31 March 2024

Directors

BARKER, Ryan Grant
CHAPMAN, Allan Mark
DIAKIW, Paul Michael
HEY, Daniel Charles
WAITES, Benjamin Lawrence

Company Secretary

CLARK, Kathryn

Registered Address

Property House
Lister Lane
Halifax
HX1 5AS

Registered Number

03351035 (England and Wales)
WALKER SINGLETON (COMMERCIAL) LIMITED
Statement of Financial Position
31 March 2024

Notes

31 Mar 2024

30 Apr 2023

£

£

£

£

Fixed assets
Intangible assets388,373101,919
Tangible assets413,48917,757
Investments54,9924,992
106,854124,668
Current assets
Stocks667,17371,917
Debtors7610,373498,218
Cash at bank and on hand102,470152,493
780,016722,628
Creditors amounts falling due within one year8(743,219)(704,299)
Net current assets (liabilities)36,79718,329
Total assets less current liabilities143,651142,997
Creditors amounts falling due after one year9(13,965)(23,274)
Provisions for liabilities10(7,999)(8,244)
Net assets121,687111,479
Capital and reserves
Called up share capital1010
Profit and loss account121,677111,469
Shareholders' funds121,687111,479
The financial statements were approved and authorised for issue by the Board of Directors on 18 February 2025, and are signed on its behalf by:
DIAKIW, Paul Michael
Director
Registered Company No. 03351035
WALKER SINGLETON (COMMERCIAL) LIMITED
Notes to the Financial Statements
for the period ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Turnover policy
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/or the rendering of services. 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.
Operating leases
Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the Income Statement on a straight-line basis over the period of the lease. Where the company is a lessor, rental income from operating leases is credited to the Income Statement on a straight-line basis over the lease term.
Defined contribution pension plan
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in other creditors in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Current taxation
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
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.
Intangible assets
Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.
Amortisation
Intangible assets are not permitted to have an indefinite life and must be amortised over their estimated useful life. The estimated useful life of Computer Software has been set at 5 years and the asset will be amortised on a straight-line basis over that period.
Goodwill
Goodwill arising on an acquisition of a business is carried at cost less accumulated impairment losses, if any. Goodwill is amortised over its expected useful life which is estimated to be ten years. Goodwill is assessed for impairment when there are indicators of impairment and any impairment is charged to the income statement. No reversals of impairment are recognised.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. 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 disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Fixtures and fittings5
Office Equipment5
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the Income Statement.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Income Statement. Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20242023
Average number of employees during the year1413
3.Intangible assets

Goodwill

Other

Total

£££
Cost or valuation
At 01 May 23171,10116,910188,011
Additions-3,3753,375
At 31 March 24171,10120,285191,386
Amortisation and impairment
At 01 May 2385,55054286,092
Charge for year15,6841,23716,921
At 31 March 24101,2341,779103,013
Net book value
At 31 March 2469,86718,50688,373
At 30 April 2385,55116,368101,919
4.Tangible fixed assets

Fixtures & fittings

Office Equipment

Total

£££
Cost or valuation
At 01 May 2317,19317,73734,930
At 31 March 2417,19317,73734,930
Depreciation and impairment
At 01 May 2313,3223,85117,173
Charge for year1,0803,1884,268
At 31 March 2414,4027,03921,441
Net book value
At 31 March 242,79110,69813,489
At 30 April 233,87113,88617,757
5.Fixed asset investments

Investments in groups1

Total

££
Cost or valuation
At 01 May 234,9924,992
At 31 March 244,9924,992
Net book value
At 31 March 244,9924,992
At 30 April 234,9924,992

Notes

1Investments in group undertakings and participating interests
6.Stocks

2024

2023

££
Work in progress67,17371,917
Total67,17371,917
7.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables191,551227,221
Other debtors317,637191,877
Prepayments and accrued income101,18579,120
Total610,373498,218
8.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables62,40975,029
Bank borrowings and overdrafts95,74394,922
Taxation and social security14,49332
Other creditors527,525522,270
Accrued liabilities and deferred income43,04912,046
Total743,219704,299
9.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts13,96523,274
Total13,96523,274
10.Provisions for liabilities
The provision for deferred tax is made up of £7,999 in respect of accelerated capital allowances.

2024

2023

££
Net deferred tax liability (asset)7,9998,244
Total7,9998,244
11.Operating lease commitments
At 31 March 2024 the company had future minimum lease payments under non-cancellable operating leases of £330,032 (2023 - £100,037).
12.Related party transactions
Amounts included under Other Debtors totalling £194,036 (2023 - £119,452) and amounts included under Other Creditors totalling £527,407 (2023 - £522,147) are owed from/to related undertakings.