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REGISTERED NUMBER: 05419987 (England and Wales)







Unaudited Financial Statements

for the Year Ended 31 August 2024

for

Walney UK Limited

Walney UK Limited (Registered number: 05419987)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Walney UK Limited

Company Information
for the Year Ended 31 August 2024







DIRECTOR: Mr N D Duggan





REGISTERED OFFICE: 7 Holywell Hill
St Albans
Hertfordshire
AL1 1EU





REGISTERED NUMBER: 05419987 (England and Wales)





ACCOUNTANTS: DSCO
The Tower
The Maltings
Hoe Lane
Ware
Hertfordshire
SG12 9LR

Walney UK Limited (Registered number: 05419987)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 278,024 301,664
Tangible assets 5 59,121 2,285
337,145 303,949

CURRENT ASSETS
Stocks 6 156,873 91,770
Debtors 7 105,409 58,712
Cash at bank 523,081 749,481
785,363 899,963
CREDITORS
Amounts falling due within one year 8 453,232 507,780
NET CURRENT ASSETS 332,131 392,183
TOTAL ASSETS LESS CURRENT
LIABILITIES

669,276

696,132

CREDITORS
Amounts falling due after more than one
year

9

(10,000

)

(20,000

)

PROVISIONS FOR LIABILITIES (11,691 ) (2,311 )
NET ASSETS 647,585 673,821

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 647,485 673,721
SHAREHOLDERS' FUNDS 647,585 673,821

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

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

The director acknowledges his 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.

Walney UK Limited (Registered number: 05419987)

Balance Sheet - continued
31 August 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 director and authorised for issue on 7 May 2025 and were signed by:





Mr N D Duggan - Director


Walney UK Limited (Registered number: 05419987)

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

1. STATUTORY INFORMATION

Walney UK Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 20% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Walney UK Limited (Registered number: 05419987)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 23 (2023 - 17 ) .

4. INTANGIBLE FIXED ASSETS
Computer
Goodwill software Totals
£    £    £   
COST
At 1 September 2023 593,518 55,305 648,823
Additions - 18,333 18,333
At 31 August 2024 593,518 73,638 667,156
AMORTISATION
At 1 September 2023 300,453 46,706 347,159
Amortisation for year 29,676 12,297 41,973
At 31 August 2024 330,129 59,003 389,132
NET BOOK VALUE
At 31 August 2024 263,389 14,635 278,024
At 31 August 2023 293,065 8,599 301,664

Walney UK Limited (Registered number: 05419987)

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

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 September 2023 173,312 15,396 37,429 14,207 240,344
Additions 50,277 3,914 20,578 - 74,769
Disposals - - (7,999 ) - (7,999 )
At 31 August 2024 223,589 19,310 50,008 14,207 307,114
DEPRECIATION
At 1 September 2023 172,616 14,187 37,429 13,827 238,059
Charge for year 10,404 2,004 5,145 380 17,933
Eliminated on disposal - - (7,999 ) - (7,999 )
At 31 August 2024 183,020 16,191 34,575 14,207 247,993
NET BOOK VALUE
At 31 August 2024 40,569 3,119 15,433 - 59,121
At 31 August 2023 696 1,209 - 380 2,285

Fixed assets, included in the above, which are held under hire purchase contracts or finance leases are as follows:
Motor
vehicles
£   
COST
At 1 September 2023
and 31 August 2024 29,430
DEPRECIATION
At 1 September 2023
and 31 August 2024 29,430
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 -

6. STOCKS
31.8.24 31.8.23
£    £   
Stocks 156,873 91,770

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 15,900 2,237
Other debtors 89,509 56,475
105,409 58,712

Walney UK Limited (Registered number: 05419987)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans and overdrafts 10,000 14,386
Trade creditors 225,499 239,125
Taxation and social security 8,972 23,215
Other creditors 208,761 231,054
453,232 507,780

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Bank loans 10,000 20,000

10. SECURED DEBTS

The following secured debts are included within creditors:

31.8.24 31.8.23
£    £   
Bank loans 20,000 34,386

The bank loan is secured by a fixed and floating charge in favour of Royal Bank of Scotland plc.

11. RELATED PARTY DISCLOSURES

No one party has ultimate control.