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Walton Community Association (Stone) Limited
Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—5
Page 1
Company Information
Directors Miss Andrea Walker
Mr Gerald Canning
Mrs Jill Wood
Mr Michael Williamson
Mr Adrian Bennett
Company Number 03638526
Registered Office Walton Community Centre
Whitemill Lane
Stone
Staffordshire
ST15 0EQ
Accountants Wynniatt-Husey Limited
ICAEW
Hampson Chambers
Stafford Street
Stone
Staffordshire
ST15 8QW
Charity Number: 1079053
Page 1
Page 2
Balance Sheet
Registered number: 03638526
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 54,633 54,633
54,633 54,633
CURRENT ASSETS
Stocks 5 120 120
Debtors 6 6,674 5,422
Cash at bank and in hand 114,016 139,901
120,810 145,443
Creditors: Amounts Falling Due Within One Year 7 (12,207 ) (12,810 )
NET CURRENT ASSETS (LIABILITIES) 108,603 132,633
TOTAL ASSETS LESS CURRENT LIABILITIES 163,236 187,266
NET ASSETS 163,236 187,266
Income and Expenditure Account 163,236 187,266
MEMBERS' FUNDS 163,236 187,266
Page 2
Page 3
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income and Expenditure Account.
On behalf of the board
Miss Andrea Walker
Director
Mr Gerald Canning
Director
Mrs Jill Wood
Director
Mr Michael Williamson
Director
Mr Adrian Bennett
Director
21 February 2025
The notes on pages 4 to 5 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Walton Community Association (Stone) Limited is a private company, limited by guarantee, incorporated in England & Wales, registered number 03638526 . The registered office is Walton Community Centre, Whitemill Lane, Stone, Staffordshire, ST15 0EQ.
The company is a registered charity: Charity Number 1079053
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Incoming Resources: Income is included in full in the Detailed Income and Expenditure Account, when receivable. The value of services provided by volunteers has not been included. 
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 10% written down value
Fixtures & Fittings 25% straight line
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Grants
Grants, including grants for the purchase of fixed assets, are recognised in full in the Detailed Income and Expenditure Account in the year in which they are receivable.
2.6. Resources expended
Resources expended are recognised in the period in which they are incurred. Resources expended include attributable VAT which cannot be recovered.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 1)
2 1
4. Tangible Assets
Land & Property
Freehold Fixtures & Fittings Total
£ £ £
Cost
As at 1 January 2024 54,633 45,651 100,284
As at 31 December 2024 54,633 45,651 100,284
Depreciation
As at 1 January 2024 - 45,651 45,651
As at 31 December 2024 - 45,651 45,651
...CONTINUED
Page 4
Page 5
Net Book Value
As at 31 December 2024 54,633 - 54,633
As at 1 January 2024 54,633 - 54,633
The freehold property in fact belongs to Stafford Borough Council and not the company; its value was removed from the balance sheet in the financial statements for the year ended 31 December 2013.
However the company does own the playing fields adjacent to the freehold property. These playing fields are subject to a covenant restricting their use to "recreational purposes only". The area of these playing fields is 4.5 acres or 1.8211 hectares. The valuation has been estimated by the directors at £30,000 per hectare, so making a valuation of £54,633. The covenant also stipulates that, in the event of the company wishing to sell these fields, they must first be offered to Fields in Trust (formerly The National Playing Fields Association). As the company has no intention of selling the fields, the directors felt it to be an unneccessary expense to engage the services of a professional valuer.
5. Stocks
2024 2023
£ £
Stock 120 120
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 6,674 5,422
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 1,233 1,209
Other creditors 10,078 11,015
Taxation and social security 896 586
12,207 12,810
8. Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
Page 5