Company registration number 08001914 (England and Wales)
WALTER MANNY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
WALTER MANNY LIMITED
COMPANY INFORMATION
Directors
Mr M R Oswald
Mrs K J Oswald
(Appointed 11 March 2024)
Company number
08001914
Registered office
A4 Westpark 26
Wellington
Somerset
England
TA21 9FH
Accountants
Streets Bush Limited
2 Barnfield Crescent
Exeter
EX1 1QT
WALTER MANNY LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
WALTER MANNY LIMITED
BALANCE SHEET
AS AT
31 JULY 2024
31 July 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
65,105
123,506
Current assets
Debtors
5
822,777
772,648
Cash at bank and in hand
253,882
268,975
1,076,659
1,041,623
Creditors: amounts falling due within one year
6
(764,717)
(668,692)
Net current assets
311,942
372,931
Total assets less current liabilities
377,047
496,437
Creditors: amounts falling due after more than one year
7
(13,361)
(83,032)
Provisions for liabilities
(1,415)
(21,415)
Net assets
362,271
391,990
Capital and reserves
Called up share capital
100
100
Retained earnings
362,171
391,890
Total equity
362,271
391,990
WALTER MANNY LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 JULY 2024
31 July 2024
- 2 -

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 17 April 2025 and are signed on its behalf by:
Mr M R Oswald
Director
Company Registration No. 08001914
WALTER MANNY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
- 3 -
1
Accounting policies
Company information

Walter Manny Limited is a private company limited by shares incorporated in England and Wales. The registered office is A4 Westpark 26, Wellington, Somerset, England, TA21 9FH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

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

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

1.3
Intangible fixed assets other than goodwill

Licences, being the amount paid in connection with the acquisition of 3 separate franchises in 2013,

2014 and 2016 respectively, are being amortised evenly over their useful lives of 10 years.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

WALTER MANNY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 4 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
10% on cost
Fixtures and fittings
25% on reducing balance
Computers
25% on cost
Motor vehicles
25% on reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

WALTER MANNY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Leases

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

 

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

 

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

 

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
115
131
WALTER MANNY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 6 -
3
Intangible fixed assets
Other
£
Cost
At 1 August 2023 and 31 July 2024
75,000
Amortisation and impairment
At 1 August 2023 and 31 July 2024
75,000
Carrying amount
At 31 July 2024
-
0
At 31 July 2023
-
0
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 August 2023
4,209
216,541
220,750
Additions
3,822
30,247
34,069
Disposals
-
0
(94,300)
(94,300)
At 31 July 2024
8,031
152,488
160,519
Depreciation and impairment
At 1 August 2023
1,263
95,981
97,244
Depreciation charged in the year
803
20,942
21,745
Eliminated in respect of disposals
-
0
(23,575)
(23,575)
At 31 July 2024
2,066
93,348
95,414
Carrying amount
At 31 July 2024
5,965
59,140
65,105
At 31 July 2023
2,946
120,560
123,506
WALTER MANNY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 7 -
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
206,573
158,946
Other debtors
616,204
613,702
822,777
772,648
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
9,972
9,722
Trade creditors
51,951
20,872
Taxation and social security
326,696
147,861
Other creditors
376,098
490,237
764,717
668,692
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
13,361
23,612
Other creditors
-
0
59,420
13,361
83,032

Hire purchase contracts are secured over the assets to which they relate.

8
Operating lease commitments

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2024
2023
£
£
37,782
62,339
WALTER MANNY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
- 8 -
9
Related party transactions

Included in other creditors are amounts owed to the directors of £51,620 The loans are charged interest at the HM Revenue & Customs' official rate of interest and carry no fixed terms of repayment.

 

Included in other debtors are amounts owed from companies under the control of the directors of £550,540. This loans are interest free and carry no fixed terms of repayment.

2024-07-312023-08-01falsefalsefalse17 April 2025CCH SoftwareCCH Accounts Production 2025.100The principal activity in the year was that of a Residential care activities for the elderly and disabled.
Mr M R OswaldMrs K J Oswald
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