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Registration number: 13195965

Wallop Enterprise Company Limited

Annual Report and Unaudited Filleted Abridged Financial Statements

for the Year Ended 31 August 2024

 

Wallop Enterprise Company Limited

Contents

Abridged Balance Sheet

1

Notes to the Unaudited Abridged Financial Statements

2 to 3

 

Wallop Enterprise Company Limited

(Registration number: 13195965)
Abridged Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Other financial assets

4

993,310

868,124

Current assets

 

Debtors

161,796

190,585

Cash at bank and in hand

 

778,206

96,518

 

940,002

287,103

Creditors: Amounts falling due within one year

(1,894,670)

(1,225,597)

Net current liabilities

 

(954,668)

(938,494)

Total assets less current liabilities

 

38,642

(70,370)

Provisions for liabilities

(6,228)

-

Net assets/(liabilities)

 

32,414

(70,370)

Capital and reserves

 

Called up share capital

120

120

Profit and loss account

32,294

(70,490)

Total equity

 

32,414

(70,370)

For the financial year ending 31 August 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 of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the Company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the director on 25 February 2025
 

Mr C Schreiber

Director

 

Wallop Enterprise Company Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Calyx House
South Road
Taunton
Somerset
TA1 3DU

These financial statements were authorised for issue by the director on 25 February 2025.

2

Accounting policies

Statement of compliance

These abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern
The financial statements have been prepared on a going concern basis. Of the company's current liabilities at 31 August 2024, an amount is owed to the director, who has agreed to continue to support the company, and not to demand repayment of this amount to the extent that any such repayment would jeopardise the future of the company.

Revenue recognition

Turnover comprises the interest and dividends received from the investments.The company recognises revenue when the amount of revenue can be reliably measured, it is probable the future economic benefits will flow into the entity, and specific criteria have been met for each of the company activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

 

Wallop Enterprise Company Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 August 2024

Investments

Investments in equity shares where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in the profit or loss account. Investments in equity shares where fair value cannot be measured reliably are measured at cost less impairment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Other financial assets (current and non-current)

Total
£

Non-current financial assets

Cost or valuation

At 1 September 2023

868,124

Fair value adjustments

70,289

Additions

126,976

Disposals

(72,079)

At 31 August 2024

993,310

Carrying amount

At 31 August 2024

993,310