REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 September 2024 |
for |
Wallman Construction Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 30 September 2024 |
for |
Wallman Construction Limited |
Wallman Construction Limited (Registered number: 01771538) |
Contents of the Financial Statements |
for the Year Ended 30 September 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
Wallman Construction Limited |
Company Information |
for the Year Ended 30 September 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
2 Heap Bridge |
Bury |
Lancashire |
BL9 7HR |
Wallman Construction Limited (Registered number: 01771538) |
Balance Sheet |
30 September 2024 |
2024 | 2023 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
CURRENT ASSETS |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 | ( |
) | ( |
) |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve |
Retained earnings |
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. |
Wallman Construction Limited (Registered number: 01771538) |
Balance Sheet - continued |
30 September 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Wallman Construction Limited (Registered number: 01771538) |
Notes to the Financial Statements |
for the Year Ended 30 September 2024 |
1. | STATUTORY INFORMATION |
Wallman Construction Limited is a |
2. | STATEMENT OF COMPLIANCE |
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'. |
3. | ACCOUNTING POLICIES |
BASIS OF PREPARING THE FINANCIAL STATEMENTS |
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. |
REVENUE RECOGNITION |
Turnover is measured at the fair value of the consideration received or receivable for services rendered. |
TANGIBLE ASSETS |
Computer equipment | - |
Tangible assets are initially recorded at cost, and 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. |
INCOME TAX |
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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. |
Wallman Construction Limited (Registered number: 01771538) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2024 |
3. | ACCOUNTING POLICIES - continued |
FINANCIAL INSTRUMENTS |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. |
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. |
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. |
IMPAIRMENT OF FIXED ASSETS |
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. |
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 amountspreviously recognised are recognised in profit or loss unless the provision was originally recognised as partof the cost of an asset. When a provision is measured at the present value of the amount expected to berequired to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit orloss in the period it arises. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Wallman Construction Limited (Registered number: 01771538) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2024 |
5. | TANGIBLE FIXED ASSETS |
Freehold | Computer |
property | equipment | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 October 2023 |
Additions |
At 30 September 2024 |
DEPRECIATION |
At 1 October 2023 |
Charge for year |
At 30 September 2024 |
NET BOOK VALUE |
At 30 September 2024 |
At 30 September 2023 |
The value of the investment property has been reviewed by the directors on the basis of open market value for existing use and the directors believe the fair value of the property continues to be £1,200,000 which has been incorporated in these financial statements. Deferred taxation has been provided at £165,500 on the basis that the property would realise its valuation on a future sale. |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Taxation and social security |
Other creditors |
Wallman Construction Limited (Registered number: 01771538) |
Notes to the Financial Statements - continued |
for the Year Ended 30 September 2024 |
7. | 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 thedirectors | Balance outstanding |
R. B. Wallman | (78,953) | 10,910 | (68,043) |
E. J. Wallman | (76,065) | 10,020 | (66,045) |
A.S. Wallman | - | - | - |
(155,018) | 20,930 | (134,088) |
2023 |
Balance brought forward | Advances/(credits) to thedirectors | Balance outstanding |
R. B. Wallman | (89,332) | 10,379 | (78,953) |
E. J. Wallman | (89,331) | 13,267 | (76,065) |
A.S. Wallman | (3,900) | 3,900 | - |
(182,563) | 23,546 | (155,018) |