Walk The Plank Fireworks Ltd

	Page
Balance Sheet	1—2
Statement of Changes in Equity	3
Notes to the Financial Statements	4—8

	Share Capital	Profit and Loss Account	Total
	£	£	£
As at 1 January 2023	2	454	456
Loss for the year and total comprehensive income	-	(27,147 )	(27,147)

As at 31 December 2023 and 1 January 2024	2	(26,693 )	(26,691)


Profit for the year and total comprehensive income	-	26,691	26,691

As at 31 December 2024	2	(2 )	-

1. General Information

Walk The Plank Fireworks Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 03664585 . The registered office is Cobden Works, 37 - 41 Cobden Street, Salford, M6 6WF.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

The financial statements of the company are consolidated in the financial statements of Walk the Plank. These consolidated financial statements are available from its registered office, Cobden Works, 37-41 Cobden Street, Salford M6 6WF.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services, principally putting on pyrotechnic displays. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold	10 years straight line
Plant & Machinery	3 to 20 years straight line

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Walk The Plank Fireworks Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

2.4. Stocks and Work in Progress

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 stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.5. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: NIL (2023: NIL)

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Walk The Plank Fireworks Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

4. Tangible Assets

	Land & Property
	Leasehold	Plant & Machinery	Total
	£	£	£
Cost
As at 1 January 2024	53,638	204,812	258,450
Disposals	(53,638 )	(204,812 )	(258,450 )

As at 31 December 2024	-	-	-

Depreciation
As at 1 January 2024	52,533	197,466	249,999
Provided during the period	1,105	2,058	3,163
Disposals	(53,638 )	(199,524 )	(253,162 )

As at 31 December 2024	-	-	-

Net Book Value
As at 31 December 2024	-	-	-

As at 1 January 2024	1,105	7,346	8,451

5. Stocks

	2024	2023
	£	£
Materials	-	155,180

6. Debtors

	2024	2023
	£	£
Due within one year
Trade debtors	-	10,525
Prepayments and accrued income	-	9,310
VAT	-	258

	-	20,093

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Walk The Plank Fireworks Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

7. Creditors: Amounts Falling Due Within One Year

	2024	2023
	£	£
Trade creditors	-	65,499
Amounts owing to parent undertaking	-	173,620
Accruals and deferred income	-	(11,479 )

	-	227,640

8. Deferred Taxation

The provision for deferred tax is made up as follows:

	2024	2023
	£	£
Other timing differences	-	512

9. Share Capital

	2024	2023
	£	£
Allotted, Called up and fully paid	2	2

10. 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 in the company's balance sheet 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

Basic financial assets, which include debtors and cash and bank balances, 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 transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

...CONTINUED

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Walk The Plank Fireworks Ltd

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2024

10. Financial Instruments - continued

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

11. Dividends

12. Related Party Transactions

The company has taken advantage of the exemption in section 33.1A of FRS102 from disclosing transactions entered into between two or more members of the group as all subsidiaries are wholly owned.

The company has taken advantage of the exemption under section 1.12 of FRS102 - Reduced Disclosures for Subsidiaries - from disclosing key management personnel compensation in total.

13. Ultimate Controlling Party

The company's ultimate parent company is Walk the Plank , a registered charitable company in the UK.

14. Audit Information

The auditor's report on the accounts of Walk The Plank Fireworks Ltd for the year ended 31 December 2024 was unqualified.

The auditor's report was signed by Victoria Atkinson (Senior Statutory Auditor) for and on behalf of BK Plus Halifax , Statutory Auditor.

BK Plus Halifax

52 St Johns Lane

Halifax

West Yorkshire

HX1 2BW

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		2024		2023
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		-		8,451

			-		8,451
CURRENT ASSETS
Stocks	5	-		155,180
Debtors	6	-		20,093
Cash at bank and in hand		-		17,737

		-		193,010
Creditors: Amounts Falling Due Within One Year	7	-		(227,640 )

NET CURRENT ASSETS (LIABILITIES)			-		(34,630 )

TOTAL ASSETS LESS CURRENT LIABILITIES			-		(26,179 )

PROVISIONS FOR LIABILITIES
Deferred Taxation	8		-		(512 )

NET LIABILITIES			-		(26,691 )

CAPITAL AND RESERVES
Called up share capital	9		2		2
Profit and Loss Account			(2 )		(26,693 )

SHAREHOLDERS' FUNDS			-		(26,691)