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REGISTERED NUMBER: 00377353 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2024

for

Walton Engineering Co. Limited

Walton Engineering Co. Limited (Registered number: 00377353)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Walton Engineering Co. Limited

Company Information
for the Year Ended 31 October 2024







DIRECTORS: J C Godfrey
Mrs J A Blumsom





SECRETARY: J C Godfrey





REGISTERED OFFICE: 17-19 Sutton Road
St Albans
Hertfordshire
AL1 5JQ





REGISTERED NUMBER: 00377353 (England and Wales)





ACCOUNTANTS: Fenlon & Co
Chartered Certified Accountants
6 High Street
Wheathampstead
Hertfordshire
AL4 8AA

Walton Engineering Co. Limited (Registered number: 00377353)

Balance Sheet
31 October 2024

31.10.24 31.10.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 366,767 374,549

CURRENT ASSETS
Stocks 31,176 114,595
Debtors 5 107,539 141,395
Cash at bank 728,371 467,016
867,086 723,006
CREDITORS
Amounts falling due within one year 6 251,367 129,397
NET CURRENT ASSETS 615,719 593,609
TOTAL ASSETS LESS CURRENT
LIABILITIES

982,486

968,158

PROVISIONS FOR LIABILITIES 7 6,800 8,700
NET ASSETS 975,686 959,458

CAPITAL AND RESERVES
Called up share capital 12 12
Revaluation reserve 8 284,604 284,604
Capital reserve 1 1
Retained earnings 691,069 674,841
SHAREHOLDERS' FUNDS 975,686 959,458

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2024 in accordance with Section 476 of the Companies Act 2006.

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.

Walton Engineering Co. Limited (Registered number: 00377353)

Balance Sheet - continued
31 October 2024


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 24 April 2025 and were signed on its behalf by:




Mrs J A Blumsom - Director



J C Godfrey - Director


Walton Engineering Co. Limited (Registered number: 00377353)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

Walton Engineering Co Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is 17-19 Sutton Road, St Albans, Herts AL1 5JQ

The financial statements are presented in Sterling, which is the functional currency of the company.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Revenue recognition
Revenue is measured at the fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowances. Revenue from the sale of goods is recognised when goods are delivered and legal title has passed.

Depreciation
Depreciation is charged on a straight-line basis on the assets of the company at the following rates which are expected to reduce the assets to their net realisable values over their estimated lives:

Plant & equipment20%
Furniture, fixtures & fittings20% & 10%
Computers & ancillary equipment25%

Stocks & work in progress
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.


.

Walton Engineering Co. Limited (Registered number: 00377353)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

2. ACCOUNTING POLICIES - continued

Investment properties
Investment properties are revalued annually and the aggregate surplus or deficit is transferred to the revaluation reserve. Depreciation is not provided in respect of freehold investment properties. Although this is a departure from the accounting requirements of the Companies Act 2006, which recommends that properties be depreciated, the directors consider departure in this regard as justified on the grounds of compliance with the Financial Reporting Standards and the overriding requirement under section 396(4) of the Companies Act 2006 that Financial Statements should show a true and fair view.

Taxation
Taxation represents the sum of tax currently payable and deferred tax.

The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on all timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Foreign currencies
Transactions in currencies, other than the functional currency of the company, are recorded at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. All differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated

Hire purchase and leasing contracts
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the leases term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account on a straight line basis.

Pensions
The costs of Pension Schemes operated by the Company are calculated annually and charged to the profit and loss account as they arise.

Walton Engineering Co. Limited (Registered number: 00377353)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

2. ACCOUNTING POLICIES - continued

Dividends
Final ordinary dividends payable to the shareholders of the company are recognised in the period that they are approved by the shareholders. Interim ordinary dividends are recognised in the period that they are paid.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 12 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant &
property Equipment Totals
£    £    £   
COST
At 1 November 2023
and 31 October 2024 385,140 132,621 517,761
DEPRECIATION
At 1 November 2023 28,000 115,212 143,212
Charge for year - 7,782 7,782
At 31 October 2024 28,000 122,994 150,994
NET BOOK VALUE
At 31 October 2024 357,140 9,627 366,767
At 31 October 2023 357,140 17,409 374,549

The cost of the freehold land and building bought in November 1982 was £96,136. The market value rather than the cost is disclosed on the Balance Sheet in accordance with FRS102 Section 1A.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade debtors 82,554 70,599
Other debtors 24,985 70,796
107,539 141,395

No amounts are due after more than one year (2023: £0).

Walton Engineering Co. Limited (Registered number: 00377353)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade creditors 62,284 63,173
Tax 36,373 29,847
Social security and other taxes 10,862 6,298
Other creditors 70,848 30,079
Provision for redundancy 71,000 -
251,367 129,397

7. PROVISIONS FOR LIABILITIES

31.10.2431.10.23
££
Deferred tax 6,8008,700


Per revaluation
of property
Per capital
allowances
Total
deferred tax
£££
Balance at 1 November 2023 4,4004,3008,700
Charged/Utilised during year-(1,900)(1,900)
Balance at 31st October 20244,4002,4006,800

Deferred Tax in respect of revaluation of investment property relates to the tax payable should the property be sold at the value disclosed on the Balance Sheet.

Deferred Tax in relation to Capital Allowances relates to the clawback of Capital Allowances should Plant & Equipment be sold at the value disclosed on the Balance Sheet.

8. RESERVES
Revaluatio
reserve
£   
At 1 November 2023
and 31 October 2024 284,604