Caseware UK (AP4) 2024.0.164 2024.0.164 2024-12-312024-12-312025-05-06The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2024-01-01falseretail sale of hardware, paints and glass in specialised stores1111truetruefalse 04110751 2024-01-01 2024-12-31 04110751 2023-01-01 2023-12-31 04110751 2024-12-31 04110751 2023-12-31 04110751 c:Director1 2024-01-01 2024-12-31 04110751 c:Director3 2024-01-01 2024-12-31 04110751 d:Buildings 2024-01-01 2024-12-31 04110751 d:Buildings 2024-12-31 04110751 d:Buildings 2023-12-31 04110751 d:Buildings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 04110751 d:PlantMachinery 2024-01-01 2024-12-31 04110751 d:PlantMachinery 2024-12-31 04110751 d:PlantMachinery 2023-12-31 04110751 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 04110751 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 04110751 d:CurrentFinancialInstruments 2024-12-31 04110751 d:CurrentFinancialInstruments 2023-12-31 04110751 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 04110751 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 04110751 d:ShareCapital 2024-12-31 04110751 d:ShareCapital 2023-12-31 04110751 d:RetainedEarningsAccumulatedLosses 2024-12-31 04110751 d:RetainedEarningsAccumulatedLosses 2023-12-31 04110751 c:FRS102 2024-01-01 2024-12-31 04110751 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 04110751 c:FullAccounts 2024-01-01 2024-12-31 04110751 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 04110751 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure
                                                                                                                        Registered number: 04110751















M L WALSINGHAM & SON LIMITED

UNAUDITED

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

 
M L WALSINGHAM & SON LIMITED
REGISTERED NUMBER:04110751

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
100,105
110,951

  
100,105
110,951

Current assets
  

Stocks
  
153,425
147,328

Debtors: amounts falling due within one year
 5 
3,576
2,359

Cash at bank and in hand
  
213,571
182,815

  
370,572
332,502

Creditors: amounts falling due within one year
 6 
(180,938)
(177,954)

Net current assets
  
 
 
189,634
 
 
154,548

Total assets less current liabilities
  
289,739
265,499

Provisions for liabilities
  

Deferred tax
  
(2,191)
(1,802)

  
 
 
(2,191)
 
 
(1,802)

Net assets
  
287,548
263,697


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
287,448
263,597

  
287,548
263,697


Page 1

 
M L WALSINGHAM & SON LIMITED
REGISTERED NUMBER:04110751
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the income statement in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
P J Walsingham
................................................
S Walsingham
Director
Director


Date: 6 May 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
M L WALSINGHAM & SON LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

M L Walsingham & Son Limited is a private company limited by shares and incorporated in England and Wales, registration number 04110751. The registered office is Summerhill House, 1 Sculthorpe Road, Fakenham, Norfolk, NR21 9HA. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 presented in sterling which is the functional currency of the company and round to the nearest £.
The significant accounting policies applies in the preparation of these financial statements are set out below.  These policies have been consistently applied to all years unless otherwise stated.

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 3

 
M L WALSINGHAM & SON LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis.

Depreciation is provided on the following basis:

Freehold property
-
4%
Straight line
Plant & machinery
-
25%
Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
M L WALSINGHAM & SON LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.10

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.11

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 at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 11 (2023 - 11).

Page 5

 
M L WALSINGHAM & SON LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Tangible fixed assets





Freehold property
Plant & machinery
Total

£
£
£



Cost or valuation


At 1 January 2024
310,167
74,675
384,842


Additions
-
5,434
5,434



At 31 December 2024

310,167
80,109
390,276



Depreciation


At 1 January 2024
209,282
64,609
273,891


Charge for the year on owned assets
12,404
3,876
16,280



At 31 December 2024

221,686
68,485
290,171



Net book value



At 31 December 2024
88,481
11,624
100,105



At 31 December 2023
100,885
10,066
110,951

Page 6

 
M L WALSINGHAM & SON LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Debtors

2024
2023
£
£


Trade debtors
1,558
424

Prepayments and accrued income
2,018
1,935

3,576
2,359



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
13,913
5,260

Corporation tax
18,427
18,090

Other taxation and social security
12,470
10,590

Other creditors
136,128
144,014

180,938
177,954


 
Page 7