| REGISTERED NUMBER: |
| Walterstead Limited |
| Unaudited Financial Statements |
| for the year ended |
| 30th September 2024 |
| REGISTERED NUMBER: |
| Walterstead Limited |
| Unaudited Financial Statements |
| for the year ended |
| 30th September 2024 |
| Walterstead Limited (Registered number: SC368318) |
| Contents of the Financial Statements |
| for the year ended 30th September 2024 |
| Page |
| Company information | 1 |
| Balance sheet | 2 | to | 3 |
| Notes to the financial statements | 4 | to | 6 |
| Walterstead Limited |
| Company Information |
| for the year ended 30th September 2024 |
| Director: |
| Registered office: |
| Business address: |
| Registered number: |
| Accountants: |
| Academy House |
| Shedden Park Road |
| Kelso |
| Roxburghshire |
| TD5 7AL |
| Walterstead Limited (Registered number: SC368318) |
| Balance Sheet |
| 30th September 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| Fixed assets |
| Tangible assets | 4 |
| Current assets |
| Stocks |
| Debtors | 5 |
| Cash at bank |
| Creditors |
| Amounts falling due within one year | 6 |
| Net current liabilities | ( |
) | ( |
) |
| Total assets less current liabilities |
| Creditors |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| Provisions for liabilities | ( |
) |
| Net (liabilities)/assets | ( |
) |
| Capital and reserves |
| Called up share capital |
| Retained earnings | ( |
) |
| Shareholders' funds | ( |
) |
| Walterstead Limited (Registered number: SC368318) |
| Balance Sheet - continued |
| 30th September 2024 |
| The director acknowledges her 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. |
| The financial statements were approved by the director and authorised for issue on |
| Walterstead Limited (Registered number: SC368318) |
| Notes to the Financial Statements |
| for the year ended 30th September 2024 |
| 1. | Statutory information |
| Walterstead Limited is a |
| 2. | Accounting policies |
| Basis of preparing the financial statements |
| Preparation of consolidated financial statements |
| The company is entitled to the exemption under Section 398 of the Companies Act 2006 from the obligation to prepare group accounts. |
| Turnover |
| Turnover represents the total invoice value, excluding value added tax, of sales invoiced during the year, or the fair value of services provided for amounts not invoiced at the year end. |
| Turnover arising from the sale of goods is recognised when the significant risks and rewards of ownership have passed to the buyer. Turnover arising from the provision of services is recognised as contract activity progresses and the right to consideration is earned. Unbilled turnover is included in debtors as amounts recoverable on contracts. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Office equipment | - |
| Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. |
| Stocks |
| Stock is valued at the lower of cost and net realisable value. Cost includes all direct expenditure and appropriate proportion of fixed and variable overheads. Net realisable value is based on estimated selling prices less further costs expected to be incurred in bringing the stock to completion. |
| Financial instruments |
| The following assets and liabilities are classified as financial instruments - bank loans,other loans, trade debtors, trade creditors, accruals, directors' loans and bank overdraft. |
| Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method. |
| Directors' loans (being repayable on demand), other loans, trade debtors, trade creditors, bank overdraft and accruals are measured at the undiscounted amount of the cash or other consideration expected to be paid or received. |
| Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss in the Statement of Income and Retained Earnings. |
| Walterstead Limited (Registered number: SC368318) |
| Notes to the Financial Statements - continued |
| for the year ended 30th September 2024 |
| 2. | Accounting policies - continued |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
| Short term employee benefits, including holiday pay, are recognised as an expense in the Statement of Income and Retained Earnings in the period in which they are incurred. |
| Investment in associate |
| Investment in associate is measured at cost less any accumulated impairment. |
| Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis. |
| The company has a deficit on the balance sheet and relies on the support of its director, which has been confirmed for a period of at least twelve months from the approval of the financial statements. Accordingly the financial statements have been prepared on the going concern basis. |
| 3. | Employees and directors |
| The average number of employees during the year was |
| Walterstead Limited (Registered number: SC368318) |
| Notes to the Financial Statements - continued |
| for the year ended 30th September 2024 |
| 4. | Tangible fixed assets |
| Fixtures |
| Plant and | and | Motor | Office |
| machinery | fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ | £ |
| Cost |
| At 1st October 2023 |
| and 30th September 2024 |
| Depreciation |
| At 1st October 2023 |
| Charge for year |
| At 30th September 2024 |
| Net book value |
| At 30th September 2024 |
| At 30th September 2023 |
| 5. | Debtors: amounts falling due within one year |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 6. | Creditors: amounts falling due within one year |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 7. | Creditors: amounts falling due after more than one year |
| 2024 | 2023 |
| £ | £ |
| Bank loans |