REGISTERED NUMBER: 04473280 (England and Wales)

Unaudited Financial Statements

for the Period 1 March 2024 to 31 December 2024

for

WALLIS PARTNERSHIP LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

G P W Wallis

REGISTERED OFFICE:

73 Park Lane

Croydon

Surrey

CR0 1JG

REGISTERED NUMBER:

04473280 (England and Wales)

ACCOUNTANTS:

Owadally & King

Chartered Certified Accountants

73 Park Lane

Croydon

Surrey

CR0 1JG

FIXED ASSETS

Intangible assets

4

3,692

6,753

Tangible assets

5

628

-

4,320

6,753

CURRENT ASSETS

Debtors

6

32,419

84,112

Cash at bank

49,998

4

82,417

84,116

CREDITORS

Amounts falling due within one year

7

63,501

112,231

NET CURRENT ASSETS/(LIABILITIES)

18,916

(28,115

)

TOTAL ASSETS LESS CURRENT LIABILITIES

23,236

(21,362

)

CREDITORS

Amounts falling due after more than one year

8

3,167

6,333

NET ASSETS/(LIABILITIES)

20,069

(27,695

)

CAPITAL AND RESERVES

Called up share capital

250

250

Retained earnings

19,819

(27,945

)

SHAREHOLDERS' FUNDS

20,069

(27,695

)

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

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

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 22 September 2025 and were signed by:

G P W Wallis - Director

1.	STATUTORY INFORMATION

Wallis Partnership Ltd 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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 2002, is being amortised evenly over its estimated useful life of five 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 five years.

Tangible fixed assets

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

Fixtures and fittings

-

20% on cost

Computer equipment

-

33% on cost

Financial instruments

The company has elected to apply the provisions of Section 11 "Basic Financial Instruments" and Section 12 "Other Financial Instruments Issues" of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets and liabilities are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset is measured at the present value of the future receipts discounted at a market rate of interest.

Taxation

Taxation for the period 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 period 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Going concern

The directors consider the use of the going concern basis of accounting is appropriate because they are supporting the company financially and there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 1 (2024 - 1 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 March 2024

and 31 December 2024

10,000

40,108

50,108

AMORTISATION

At 1 March 2024

10,000

33,355

43,355

Charge for period

-

3,061

3,061

At 31 December 2024

10,000

36,416

46,416

NET BOOK VALUE

At 31 December 2024

-

3,692

3,692

At 29 February 2024

-

6,753

6,753

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 March 2024

3,172

Additions

866

At 31 December 2024

4,038

DEPRECIATION

At 1 March 2024

3,172

Charge for period

238

At 31 December 2024

3,410

NET BOOK VALUE

At 31 December 2024

628

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2024

£

£

Trade debtors

-

52,364

Other debtors

32,419

31,748

32,419

84,112

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2024

£

£

Bank loans and overdrafts

3,800

9,510

Trade creditors

13,615

8,569

Taxation and social security

1,199

5,840

Other creditors

44,887

88,312

63,501

112,231

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2024

£

£

Bank loans

3,167

6,333

9.	RELATED PARTY DISCLOSURES

As of yera end date, the company was owed £31,271 (29 February 2024: £31,270) by Integra Voice Ltd which is owned by Mr G Wallis.

As of year end date, the company owed to Mr G Wallis £42,095 (29 February 2024: £83,536).

10.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr Wallis.