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Registered Number: 05865997
England and Wales

 

 

 

WALKWOOD LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 August 2023

End date: 31 July 2024
Director's report and financial statements
The director presents his/her/their annual report and the financial statements for the year ended 31 July 2024
Principal activities
The companys principal activity during the year continued to be Joinery manufacture and installation.
Director
The director who served the company throughout the year was as follows:
Matthew Walker
Statement of director's responsibilities
The directors are responsible for preparing the directors report and the financial statements in accordance with applicable law and regulation.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business

The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

On behalf of the board.


----------------------------------
Matthew Walker
Director

Date approved: 17 February 2025
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 1,537    2,588 
1,537    2,588 
Current assets      
Stocks 4 2,685    2,685 
Debtors 5 11,925    7,701 
Cash at bank and in hand 124,091    189,531 
138,701    199,917 
Creditors: amount falling due within one year 6 (59,182)   (120,968)
Net current assets 79,519    78,949 
 
Total assets less current liabilities 81,056    81,537 
Provisions for liabilities 7 (292)   (686)
Net assets 80,764    80,851 
 

Capital and reserves
     
Called up share capital 8 100    100 
Profit and loss account 80,664    80,751 
Shareholders' funds 80,764    80,851 
 


For the 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.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the director on 17 February 2025 and were signed by:


-------------------------------
Matthew Walker
Director
2
General Information
WALKWOOD LTD is a private company, limited by shares, registered in England and Wales, registration number 05865997, registration address 63 APPLEBY ROAD, KENDAL CUMBRIA, LA9 6ES.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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.
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.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Dividends
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders by the shareholders at an annual general meeting. Proposed dividends are only included as liabilities in the statement of financial position when their payment has been approved by the shareholders prior to the statement of financial position date.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 5 YEARS Straight Line
Motor Vehicles 4 YEARS Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 2 (2023 : 2).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Motor Vehicles   Computer Equipment   Total
  £   £   £   £
At 01 August 2023 50,816    8,950    307    60,073 
Additions      
Disposals      
At 31 July 2024 50,816    8,950    307    60,073 
Depreciation
At 01 August 2023 48,441    8,950    94    57,485 
Charge for year 974      77    1,051 
On disposals      
At 31 July 2024 49,415    8,950    171    58,536 
Net book values
Closing balance as at 31 July 2024 1,401      136    1,537 
Opening balance as at 01 August 2023 2,375      213    2,588 


4.

Stocks

2024
£
  2023
£
Stocks 2,685    2,685 
2,685    2,685 

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 11,230    7,007 
Other Debtors 695    694 
11,925    7,701 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 11,439    7,332 
Taxation & Social Security 9,815    17,191 
Other Creditors 37,928    96,445 
59,182    120,968 

7.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 292    686 
292    686 

8.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
100 A shares of £1.00 each 100    100 
100    100 

3