REGISTERED NUMBER: 00657545 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

WALSH CONSTRUCTION LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

Mr J Bird

Mr P G Crosby

Mrs J Crosby

Mr J Evitts

SECRETARY:

Mr P G Crosby

REGISTERED OFFICE:

34 Waterloo Road

Wolverhampton

West Midlands

WV1 4DG

BUSINESS ADDRESS:

The Byre

Woodbury Lane

Norton

Worcester

Worcestershire

WR5 2PT

REGISTERED NUMBER:

00657545 (England and Wales)

ACCOUNTANTS:

Crombies Accountants Limited

Chartered Accountants

34 Waterloo Road

Wolverhampton

West Midlands

WV1 4DG

FIXED ASSETS

Tangible assets

4

117,883

111,680

CURRENT ASSETS

Stocks

1,180,519

1,043,671

Debtors

5

206,616

457,662

Investments

6

2,995

2,995

Prepayments and accrued income

47,073

5,669

Cash at bank

152,427

300,893

1,589,630

1,810,890

CREDITORS

Amounts falling due within one year

7

752,962

993,713

NET CURRENT ASSETS

836,668

817,177

TOTAL ASSETS LESS CURRENT LIABILITIES

954,551

928,857

CREDITORS

Amounts falling due after more than one year

8

(43,750

)

(131,250

)

PROVISIONS FOR LIABILITIES

10

(18,726

)

(16,489

)

NET ASSETS

892,075

781,118

CAPITAL AND RESERVES

Called up share capital

12,002

12,002

Retained earnings

880,073

769,116

SHAREHOLDERS' FUNDS

892,075

781,118

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 April 2025 and were signed on its behalf by:

Mr J Bird - Director

1.	STATUTORY INFORMATION

Walsh Construction 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

The preparation of financial statements in compliance with FRS102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the company's accounting policies. (See later note)

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

20% on cost and 10% on cost

Tangible assets 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.

The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to the statement of income and retained earnings during the period in which they are incurred.

Stocks

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

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its net realisable value. The impairment loss is recognised immediately in the financial statements.

Financial instruments

Financial assets

Financial assets comprise cash at bank and in hand, trade debtors, amounts owed by group undertakings and other debtors; these are initially recorded at cost on the date they originate and are subsequently recorded at cost less provisions for impairment. The company considers evidence of impairment for all individual trade and other debtors and amounts owed by group undertakings, and any subsequent impairment is recognised in the statement of income and retained earnings.

Impairment of financial assets

Impairment provisions are recognised when there is objective evidence that a financial asset or group of financial assets is impaired. Objective evidence includes significant financial difficulties of the counterparty, default or significant delays in payment.

Impairment provisions represent the difference between the net carrying amount of a financial asset and the value of the expected future cash receipts from that asset.

Financial liabilities

Financial liabilities comprise trade creditors, other creditors and accruals; these are initially recorded, and subsequently carried, at cost on the date they originate.

Financial liabilities also comprise obligations under finance lease and hire purchase contracts; these are initially recorded at cost on the date they originate and are subsequently carried at amortised cost under the effective interest method.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case tax is recognised in other comprehensive income or directly in equity, respectively.

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax

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

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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

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.

Going concern

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 52 (2023 - 53 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

213,638

Additions

24,761

Disposals

(7,425

)

At 31 December 2024

230,974

DEPRECIATION

At 1 January 2024

101,958

Charge for year

18,558

Eliminated on disposal

(7,425

)

At 31 December 2024

113,091

NET BOOK VALUE

At 31 December 2024

117,883

At 31 December 2023

111,680

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

181,596

457,662

Amounts owed by group undertakings

25,020

-

206,616

457,662

6.	CURRENT ASSET INVESTMENTS

2024

2023

£

£

Listed investments

2,995

2,995

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

87,500

87,500

Other loans

-

2,706

Trade creditors

511,467

429,437

Amounts owed to group undertakings

-

133,932

Tax

34,881

70,371

Social security and other taxes

42

183,100

Other creditors

31,748

14,601

Directors' current accounts

9,028

5,413

Accrued expenses

78,296

66,653

752,962

993,713

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 1-2 years

43,750

87,500

Bank loans - 2-5 years

-

43,750

43,750

131,250

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

10.	PROVISIONS FOR LIABILITIES

2024

2023

£

£

Deferred tax

18,726

16,489

Deferred

tax

£

Balance at 1 January 2024

16,489

Charge to Statement of Income and Retained Earnings during year

2,237

Balance at 31 December 2024

18,726