Registered number
04463089
I J Walker Limited
Filleted Accounts
30 June 2024
I J Walker Limited
Registered number: 04463089
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 424,777 424,777
Current assets
Debtors 4 47,001 33,097
Cash at bank and in hand 65,360 62,022
112,361 95,119
Creditors: amounts falling due within one year 5 (124,191) (126,458)
Net current liabilities (11,830) (31,339)
Total assets less current liabilities 412,947 393,438
Creditors: amounts falling due after more than one year 6 (171,667) (191,667)
Net assets 241,280 201,771
Capital and reserves
Called up share capital 100 100
Profit and loss account 241,180 201,671
Shareholders' funds 241,280 201,771
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ian Walker
Director
Approved by the board on 28 March 2025
I J Walker Limited
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 4 years
Motor vehicle over 4 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 July 2023 424,774 17,464 24,705 466,943
At 30 June 2024 424,774 17,464 24,705 466,943
Depreciation
At 1 July 2023 - 17,462 24,704 42,166
At 30 June 2024 - 17,462 24,704 42,166
Net book value
At 30 June 2024 424,774 2 1 424,777
At 30 June 2023 424,774 2 1 424,777
4 Debtors 2024 2023
£ £
Trade debtors 47,001 33,097
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 20,000 20,000
Trade creditors 30,539 23,262
Taxation and social security costs 71,555 44,883
Director's loan account 440 36,246
Accruals 1,657 1,656
Pension liability - 411
124,191 126,458
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 171,667 191,667
7 Controlling party
The company is controlled by Ian Walker, the sole director, who owns 50% of the issued shares.
8 Other information
I J Walker Limited is a private company limited by shares and incorporated in England. Its registered office is:
11 Southfields, Welwyn Garden City
Hertfordshire
AL7 4ST
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