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Registered number: 08123313










WALKER WOOD LIMITED

Unaudited
Financial statements
Information for filing with the registrar
For the year ended 30 June 2024

 
WALKER WOOD LIMITED
 

Company Information


Directors
S Wood 
R Wood 




Registered number
08123313



Registered office
1st Floor
70 Clarkehouse Road

Sheffield

S10 2LJ





 
WALKER WOOD LIMITED
Registered number: 08123313

Balance sheet
As at 30 June 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
3,826
5,935

  
3,826
5,935

Current assets
  

Debtors
  
111,904
249,256

Cash at bank and in hand
  
196,182
123,170

  
308,086
372,426

Creditors: amounts falling due within one year
  
(75,908)
(96,113)

Net current assets
  
 
 
232,178
 
 
276,313

Total assets less current liabilities
  
236,004
282,248

Deferred tax
  
(1,484)
(1,484)

Net assets
  
234,520
280,764


Capital and reserves
  

Called up share capital 
 5 
100
100

Profit and loss account
  
234,420
280,664

  
234,520
280,764


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 2 January 2025.

R Wood
S Wood
Director
Director

The notes on pages 2 to 6 form part of these financial statements.
Page 1

 
WALKER WOOD LIMITED
 

 
Notes to the financial statements
For the year ended 30 June 2024

1.


General information

Walker Wood Limited is a private company limited by shares incorporated in England within the United Kingdom.  The address of the registered office is given in the company information page of these financial statements.
The financial statements are presented in sterling which is the functional currency of the company.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is measured at the fair value of the consideration received or receivable net of VAT and disbursements.  The policies adopted for the recognition of turnover are as follows:
Rendering of services
Fee income represents revenue earned under contracts to provide professional services.  Revenue is recognised as earned when, and to the extent that, the company obtains the right to consideration in exchange for its performance under these contracts.  
Revenue is generally recognised as contract activity progresses so that for incomplete contracts it reflects partial performance of the contractual obligations.  For such contracts the amount of revenue reflects the accrual of the right to consideration by reference to the value of work performed.  Revenue not billed to clients is included in debtors, amounts billed in excess of the relevant amount of revenue is included in creditors.
Fee income that is contingent on events outside the control of the company is recognised when the contingent event occurs.
Interest receivable
Interest income is recognised using the effective interest method.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 2

 
WALKER WOOD LIMITED
 

 
Notes to the financial statements
For the year ended 30 June 2024

2.Accounting policies (continued)

 
2.5

Pensions

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 payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Current and deferred taxation

Current tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods.  It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods.  It is recognised in respect of all timing differences, with certain exceptions.  Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements.  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 balance sheet date that are expected to apply to the reversal of timing differences.  Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Motor vehicles
-
20%
Office equipment
-
20%
Computer equipment
-
25%

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.

Page 3

 
WALKER WOOD LIMITED
 

 
Notes to the financial statements
For the year ended 30 June 2024

2.Accounting policies (continued)

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 8 (2023 -7).

Page 4

 
WALKER WOOD LIMITED
 

 
Notes to the financial statements
For the year ended 30 June 2024

4.


Tangible fixed assets





Computer equipment

£



Cost or valuation


At 1 July 2023
20,269


Additions
892


Disposals
(10,237)



At 30 June 2024

10,924



Depreciation


At 1 July 2023
14,334


Charge for the year on owned assets
3,001


Disposals
(10,237)



At 30 June 2024

7,098



Net book value



At 30 June 2024
3,826



At 30 June 2023
5,935


5.


Share capital

2024
2023
£
£
Authorised, allotted, called up and fully paid



100 (2023 -100) Ordinary shares of £1 each
100
100


Page 5

 
WALKER WOOD LIMITED
 

 
Notes to the financial statements
For the year ended 30 June 2024

6.


Transactions with directors

The company operates a current account with the directors (joint).  The current account bears interest at the rate of 2.25% is unsecured and repayable on demand.  The balance included in other debtors repayable with one year is £57,338, (2023 £80,557)
Transactions during the year were as follows:-

Opening balance
Advances
Repayments
Interest
Closing balance
        £
        £
        £
        £
        £

80,557

157,091

(182,000)
 
1,690
 
57,338


80,557

157,091

(182,000)
 
1,690
 
57,338

Page 6