Company Registration No. 12830960 (England and Wales)
Walkem Property Development Ltd
Unaudited accounts
for the year ended 31 August 2024
Walkem Property Development Ltd
Unaudited accounts
Contents
Walkem Property Development Ltd
Company Information
for the year ended 31 August 2024
Directors
Jake Craig Kemsley
Joe Walklett
Company Number
12830960 (England and Wales)
Registered Office
5 Strand Court
Bath Road
Cheltenham
GL53 7LW
England
Accountants
Accurox Limited
5 Strand Court
Bath Road
Cheltenham
GL53 7LW
Walkem Property Development Ltd
Statement of financial position
as at 31 August 2024
Tangible assets
68,497
69,206
Cash at bank and in hand
120,425
127,744
Creditors: amounts falling due within one year
(129,184)
(70,108)
Net current assets
60,451
57,636
Total assets less current liabilities
128,948
126,842
Creditors: amounts falling due after more than one year
(118,578)
(123,488)
Called up share capital
2
2
Profit and loss account
10,368
3,352
Shareholders' funds
10,370
3,354
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 15 April 2025 and were signed on its behalf by
Jake Craig Kemsley
Director
Company Registration No. 12830960
Walkem Property Development Ltd
Notes to the Accounts
for the year ended 31 August 2024
Walkem Property Development Ltd is a private company, limited by shares, registered in England and Wales, registration number 12830960. The registered office is 5 Strand Court, Bath Road, Cheltenham, GL53 7LW, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Walkem Property Development Ltd
Notes to the Accounts
for the year ended 31 August 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 September 2023
-
77,657
6,757
84,414
Additions
1,000
22,583
-
23,583
At 31 August 2024
1,000
100,240
6,757
107,997
At 1 September 2023
-
12,989
2,219
15,208
Charge for the year
250
22,353
1,689
24,292
At 31 August 2024
250
35,342
3,908
39,500
At 31 August 2024
750
64,898
2,849
68,497
At 31 August 2023
-
64,668
4,538
69,206
Amounts falling due within one year
Accrued income and prepayments
(87,150)
-
6
Creditors: amounts falling due within one year
2024
2023
Obligations under finance leases and hire purchase contracts
4,910
4,910
Trade creditors
44,058
70,481
Taxes and social security
59,611
34,396
Loans from directors
(20,688)
(32,666)
7
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
13,578
18,488
Other creditors
105,000
105,000
8
Average number of employees
During the year the average number of employees was 4 (2023: 4).