Caseware UK (AP4) 2024.0.164 2024.0.164 2023-12-312023-12-31trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-01-01falseSpecialised construction activities.119falsefalse 11865045 2023-01-01 2023-12-31 11865045 2022-01-01 2022-12-31 11865045 2023-12-31 11865045 2022-12-31 11865045 c:Director1 2023-01-01 2023-12-31 11865045 d:Buildings d:LongLeaseholdAssets 2023-01-01 2023-12-31 11865045 d:Buildings d:LongLeaseholdAssets 2023-12-31 11865045 d:Buildings d:LongLeaseholdAssets 2022-12-31 11865045 d:LandBuildings 2023-12-31 11865045 d:LandBuildings 2022-12-31 11865045 d:PlantMachinery 2023-01-01 2023-12-31 11865045 d:PlantMachinery 2023-12-31 11865045 d:PlantMachinery 2022-12-31 11865045 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 11865045 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 11865045 d:MotorVehicles 2023-01-01 2023-12-31 11865045 d:MotorVehicles 2023-12-31 11865045 d:MotorVehicles 2022-12-31 11865045 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 11865045 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 11865045 d:OfficeEquipment 2023-01-01 2023-12-31 11865045 d:OfficeEquipment 2023-12-31 11865045 d:OfficeEquipment 2022-12-31 11865045 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 11865045 d:OfficeEquipment d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 11865045 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 11865045 d:LeasedAssetsHeldAsLessee 2023-01-01 2023-12-31 11865045 d:CurrentFinancialInstruments 2023-12-31 11865045 d:CurrentFinancialInstruments 2022-12-31 11865045 d:Non-currentFinancialInstruments 2023-12-31 11865045 d:Non-currentFinancialInstruments 2022-12-31 11865045 c:FRS102 2023-01-01 2023-12-31 11865045 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 11865045 c:FullAccounts 2023-01-01 2023-12-31 11865045 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 11865045 2 2023-01-01 2023-12-31 11865045 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2023-12-31 11865045 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2022-12-31 11865045 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-12-31 11865045 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2022-12-31 11865045 d:LeasedAssetsHeldAsLessee 2023-12-31 11865045 d:LeasedAssetsHeldAsLessee 2022-12-31 11865045 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 11865045









WALSH MACHINERY LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
WALSH MACHINERY LIMITED
REGISTERED NUMBER: 11865045

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
£
£


Fixed assets
493,038
226,733

Current assets
236,685
297,734

Creditors: amounts falling due within one year
(477,397)
(319,661)

Net current liabilities
 
 
(240,712)
 
 
(21,927)

Total assets less current liabilities
252,326
204,806

Creditors: amounts falling due after more than one year
(370,043)
(175,674)


Net (liabilities)/assets
(117,717)
29,132



Capital and reserves
(117,717)
29,132


The director considers 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 director acknowledges his 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 by: 





................................................
J Walsh
Director
Date: 16 December 2024

Page 1

 
WALSH MACHINERY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Walsh Machinery Limited is a company limited by shares, incorporated in England and Wales. The address of the company's registered office is 2 Stiven Crescent, South Harrow, Middlesex, HA2 9AY. 
The company's principal activity is that of machinery hire.
The significant accounting policies applied in the preparation of these financial statements are set out
below. These policies have been consistently applied to all years presented unless otherwise stated.

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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 2

 
WALSH MACHINERY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.3

Interest income

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

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

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.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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


 
2.8

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.

Page 3

 
WALSH MACHINERY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using a variable rate as below.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
reducing balance
Motor vehicles
-
25%
straight line
Office equipment
-
10%
reducing balance

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.

 
2.9

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.

 
2.10

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.

 
2.11

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.

 
2.12

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 11 (2022 - 9).

Page 4

 
WALSH MACHINERY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Long-term leasehold property
Plant and machinery
Motor vehicles
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 January 2023
30,000
224,833
75,475
1,823
332,131


Additions
-
295,022
62,990
-
358,012


Disposals
-
-
(15,000)
-
(15,000)



At 31 December 2023

30,000
519,855
123,465
1,823
675,143



Depreciation


At 1 January 2023
-
77,140
28,075
182
105,397


Charge for the year on owned assets
-
470
1,982
164
2,616


Charge for the year on financed assets
-
55,705
25,884
-
81,589


Disposals
-
-
(7,500)
-
(7,500)



At 31 December 2023

-
133,315
48,441
346
182,102



Net book value



At 31 December 2023
30,000
386,540
75,024
1,477
493,041



At 31 December 2022
30,000
147,693
47,399
1,641
226,733




The net book value of land and buildings may be further analysed as follows:


2023
2022
£
£

Long leasehold
30,000
30,000

30,000
30,000


Page 5

 
WALSH MACHINERY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

           4.Tangible fixed assets (continued)

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2023
2022
£
£



Plant and machinery
379,488
147,693

Motor vehicles
95,540
43,434

475,028
191,127

Page 6

 
WALSH MACHINERY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


Trade debtors
167,659
123,063

Other debtors
17,021
53,710

Prepayments and accrued income
33,056
120,741

217,736
297,514



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
18,948
220

Less: bank overdrafts
(4,413)
(8,561)

14,535
(8,341)



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
4,413
8,561

Bank loans
17,700
-

Trade creditors
243,000
165,041

Corporation tax
-
3,698

Other taxation and social security
51,816
36,015

Obligations under finance lease and hire purchase contracts
144,290
92,787

Other creditors
16,178
13,559

477,397
319,661


Page 7

 
WALSH MACHINERY LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Net obligations under finance leases and hire purchase contracts
370,043
175,674

370,043
175,674



9.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
144,290
92,787

Between 1-5 years
370,043
175,674

514,333
268,461

 
Page 8