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REGISTERED NUMBER: 08624775 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st July 2024

for

Walters Developments Limited

Walters Developments Limited (Registered number: 08624775)






Contents of the Financial Statements
for the Year Ended 31st July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Walters Developments Limited

Company Information
for the Year Ended 31st July 2024







DIRECTORS: B J Walters
Mrs K H Walters





SECRETARY: B J Walters





REGISTERED OFFICE: Pond House Farm
Rosemary Lane
Freshford
Bath
Avon
BA2 7UD





REGISTERED NUMBER: 08624775 (England and Wales)





ACCOUNTANTS: OCG Accountants Ltd
Biz Hub Tees Valley
Belasis Hall Technology Park
Coxwold Way
Billingham
Co. Durham
TS23 4EA

Walters Developments Limited (Registered number: 08624775)

Balance Sheet
31st July 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 168,086 171,820

CURRENT ASSETS
Stocks 1,348,541 -
Debtors 5 427,841 883,580
Cash at bank 71,206 3,912
1,847,588 887,492
CREDITORS
Amounts falling due within one year 6 (1,578,210 ) (587,390 )
NET CURRENT ASSETS 269,378 300,102
TOTAL ASSETS LESS CURRENT LIABILITIES 437,464 471,922

CREDITORS
Amounts falling due after more than one
year

7

(35,111

)

(44,049

)

PROVISIONS FOR LIABILITIES (2,868 ) (3,577 )
NET ASSETS 399,485 424,296

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 399,385 424,196
399,485 424,296

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Walters Developments Limited (Registered number: 08624775)

Balance Sheet - continued
31st July 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19th March 2025 and were signed on its behalf by:




B J Walters - Director



Mrs K H Walters - Director


Walters Developments Limited (Registered number: 08624775)

Notes to the Financial Statements
for the Year Ended 31st July 2024

1. STATUTORY INFORMATION

Walters Developments Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 33% on reducing balance
Computer equipment - 33% on cost

STOCKS
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Walters Developments Limited (Registered number: 08624775)

Notes to the Financial Statements - continued
for the Year Ended 31st July 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Long and Motor Computer
leasehold fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1st August 2023
and 31st July 2024 152,994 2,414 44,373 6,467 206,248
DEPRECIATION
At 1st August 2023 - 1,762 26,199 6,467 34,428
Charge for year - 99 3,635 - 3,734
At 31st July 2024 - 1,861 29,834 6,467 38,162
NET BOOK VALUE
At 31st July 2024 152,994 553 14,539 - 168,086
At 31st July 2023 152,994 652 18,174 - 171,820

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 11,542 83,069
Amounts owed by group undertakings 340,711 800,511
Prepayments 75,588 -
427,841 883,580

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 1,010,253 5,283
Other loans 300,000 350,000
Hire purchase contracts 4,066 6,870
Trade creditors 44,515 420
Tax - 6,965
Social security and other taxes 12,788 1,539
VAT 5,134 7,965
Other creditors 12,232 538
Directors' current accounts 155,283 171,871
Accrued expenses 33,472 34,772
Deferred government grants 467 1,167
1,578,210 587,390

Walters Developments Limited (Registered number: 08624775)

Notes to the Financial Statements - continued
for the Year Ended 31st July 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 2-5 years 35,111 40,755
Hire purchase contracts - 3,294
35,111 44,049

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bridging loans 1,004,808 -

9. RELATED PARTY DISCLOSURES

Included in creditors is £300,000 (2023 - £350,000) for a loan from Mr J Walters - the father of the Director Mr B Walters. This loan is unsecured and repayable on demand. Interest is charged at a rate of 5.2% per annum.

Included in debtors is £340,711 (2023 - £800,511) for a loan from/to BKW Property Limited, a company controlled by Mr B Walters and Mrs K Walters. This loan is unsecured and repayable on demand.