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Company registration number: 13090438
Walkerbai Consulting Limited
Unaudited filleted financial statements
31 December 2024
Walkerbai Consulting Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
Walkerbai Consulting Limited
Directors and other information
Directors Mr Michael Greenwood
Mr Kevin John Walker
Ms Frances Rachel Elizabeth Edwards
Company number 13090438
Registered office Ty Capel Engedi
Chwilog
Pwllheli
Gwynedd
LL53 6TJ
Business address Ty Capel Engedi
Chwilog
Pwllheli
Gwynedd
LL53 6TJ
Accountants WJ Matthews & Son
11-15 Bridge Street
Caernarfon
Gwynedd
LL55 1AB
Walkerbai Consulting Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Walkerbai Consulting Limited
Year ended 31 December 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Walkerbai Consulting Limited for the year ended 31 December 2024 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Walkerbai Consulting Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Walkerbai Consulting Limited and state those matters that we have agreed to state to the board of directors of Walkerbai Consulting Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Walkerbai Consulting Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Walkerbai Consulting Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Walkerbai Consulting Limited. You consider that Walkerbai Consulting Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Walkerbai Consulting Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
WJ Matthews & Son
Chartered Accountants
11-15 Bridge Street
Caernarfon
Gwynedd
LL55 1AB
4 April 2025
Walkerbai Consulting Limited
Statement of financial position
31 December 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 5 9,327 9,654
_______ _______
9,327 9,654
Current assets
Debtors 6 117,034 56,700
Cash at bank and in hand 25,465 592
_______ _______
142,499 57,292
Creditors: amounts falling due
within one year 7 ( 119,795) ( 31,239)
_______ _______
Net current assets 22,704 26,053
_______ _______
Total assets less current liabilities 32,031 35,707
Provisions for liabilities ( 1,772) ( 1,834)
_______ _______
Net assets 30,259 33,873
_______ _______
Capital and reserves
Called up share capital 1 1
Profit and loss account 30,258 33,872
_______ _______
Shareholder funds 30,259 33,873
_______ _______
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 04 April 2025 , and are signed on behalf of the board by:
Mr Michael Greenwood
Director
Company registration number: 13090438
Walkerbai Consulting Limited
Notes to the financial statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in Wales. The address of the registered office is Ty Capel Engedi, Chwilog, Pwllheli, Gwynedd, LL53 6TJ.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 20 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 6 (2023: 3 ).
5. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 January 2024 12,467 12,467
Additions 2,005 2,005
_______ _______
At 31 December 2024 14,472 14,472
_______ _______
Depreciation
At 1 January 2024 2,813 2,813
Charge for the year 2,332 2,332
_______ _______
At 31 December 2024 5,145 5,145
_______ _______
Carrying amount
At 31 December 2024 9,327 9,327
_______ _______
At 31 December 2023 9,654 9,654
_______ _______
6. Debtors
2024 2023
£ £
Trade debtors 116,040 56,700
Other debtors 994 -
_______ _______
117,034 56,700
_______ _______
7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 7,286 -
Trade creditors 9,229 -
Corporation tax 27,460 14,374
Social security and other taxes 71,095 12,368
Other creditors 4,725 4,497
_______ _______
119,795 31,239
_______ _______
8. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr Michael Greenwood ( 2,911) 2,870 ( 41)
_______ _______ _______
2023
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr Michael Greenwood ( 2,000) ( 911) ( 2,911)
_______ _______ _______
9. Controlling party
The company is controlled by Mr M Greenwood, director .