ACCOUNTS - Final Accounts preparation

Cash and cash equivalents

Registered number: 12168686

Waldens Engineering Limited

Financial statements

For the Period Ended 31 March 2024

Waldens Engineering Limited

Company Information

Directors	T J Bishop
	T M Bishop
	S E Bishop
	S M Bishop


Registered number	12168686


Registered office	Waldens Depot
	Waldens Road
	Orpington
	Kent
	BR5 4EU


Independent auditors	Hurst Accountants Limited
	Statutory Auditors & Chartered Accountants
	3 Stockport Exchange
	Stockport
	Cheshire
	SK1 3GG

Waldens Engineering Limited

Contents

	Page
Balance Sheet	1
Notes to the Financial Statements	2 - 6

Waldens Engineering Limited

Registered number: 12168686

Balance Sheet

As at 31 March 2024

	31 March	30 September
	2024	2022
Note	£	£

Fixed assets
Tangible assets	4		-		9,784
			-		9,784
Current assets
Debtors: amounts falling due within one year	5	18		32,795
Cash at bank and in hand	6	271		7
		289		32,802
Creditors: amounts falling due within one year	7	(332,210)		(367,347)
Net current liabilities			(331,921)		(334,545)
Total assets less current liabilities			(331,921)		(324,761)

Net liabilities			(331,921)		(324,761)

Capital and reserves
Called up share capital	100	100
Profit and loss account	(332,021)	(324,861)
	(331,921)	(324,761)

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

S E Bishop	T J Bishop
Director	Director

Date: 19 September 2025

The notes on pages 2 to 6 form part of these financial statements.

Page 1

Waldens Engineering Limited

Notes to the Financial Statements

For the Period Ended 31 March 2024

1.	General information

Waldens Engineering Limited ('the Company') is a private limited company domiciled and incorporated in England and Wales.
The address of its registered office and principal place of business is Waldens Depot, Waldens Road, Orpington, Kent, BR5 4EU.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The reporting period is the 18 months ended 31 March 2024. As the previous reporting period was the year ended 30 September 2022, the comparative amounts presented in the financial statements are not entirely comparable.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

2.2

Going concern

At 31 March 2024, the Company has net liabilities totalling £332k (30 September 2022: £325k). The Company is effectively no longer trading and the directors have, therefore, prepared the financial statements on a basis other than going concern.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Specifically, the Company recognises revenue to the extent that consultancy projects have been completed, using a stage-of-completion method.

2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 2

Waldens Engineering Limited

Notes to the Financial Statements

For the Period Ended 31 March 2024

2.Accounting policies (continued)

2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.6

Tangible fixed assets

Tangible fixed assets under the cost model 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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Computer equipment

25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

2.9

Creditors

Short-term creditors are measured at the transaction price.

Employees

The average monthly number of employees, including directors, during the period was 4 (2022 - 5).

Page 3

Waldens Engineering Limited

Notes to the Financial Statements

For the Period Ended 31 March 2024

4.	Tangible fixed assets

		Fixtures and fittings
		£

	At 1 October 2022	23,191
	Disposals	(23,191)
	At 31 March 2024	-

	At 1 October 2022	13,407
	Charge for the period on owned assets	1,108
	Disposals	(14,515)
	At 31 March 2024	-
	Net book value
	At 31 March 2024	-
	At 30 September 2022	9,784

Debtors

					31 March	30 September
					2024	2022
					£	£


Amounts owed by group undertakings	18	19
Other debtors	-	32,776
	18	32,795

	Cash at bank and in hand	271	7

Page 4

Waldens Engineering Limited

Notes to the Financial Statements

For the Period Ended 31 March 2024

Trade creditors	118,655	136,225
Amounts owed to group undertakings	209,465	216,550
Other taxation and social security	840	-
Other creditors	-	96
Accruals and deferred income	3,250	14,476
	332,210	367,347

8.	Contingent liabilities

Contingent liabilities of a level around £5m are currently known to exist in relation to claims falling under this category. No claims are currently accepted, and legal proceedings have been issued subsequent to the year-end. The directors do not view these claims as having any validity, but in the event of the claims being successful, they are satisfied that the Company had a professional indemnity insurance policy in place for the relevant period to cover the amount noted.
The directors note that there may be additional claims over and above the insured amounts, which they view as having no validity.

9.	Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. Contributions totaling £nil (30 September 2022: £40) were payable to the fund at the reporting date.

10.	Controlling party

The Company is a wholly owned subsidiary of Watch It Come Down Limited, which is the ultimate parent of the group and is controlled by the board of directors of this Company.
Watch It Come Down Limited is the parent of the smallest group for which consolidated financial statements are drawn up of which this Company is a member. Watch It Come Down Limited’s registered office is Waldens Road, Orpington, Kent, BR5 4EU.

Page 5

Waldens Engineering Limited

Notes to the Financial Statements

For the Period Ended 31 March 2024

11.	Auditors' information

The auditors' report on the financial statements for the period ended 31 March 2024 was unqualified.

In their report, the auditors emphasised the following matter without qualifying their report:

Attention was drawn to note 2.2 to the financial statements. In forming their opinion on the financial statements, which is not modified, the auditors have considered the adequacy of the disclosure in note 2.2, which explains that the Company is effectively no longer trading and the directors, therefore, do not consider it to be appropriate to adopt the going concern basis of accounting in preparing the financial statements.

The audit report was signed on 19 September 2025 by Anthony Woodings (Senior Statutory Auditor) on behalf of Hurst Accountants Limited.

Page 6