Registered number
09746973
Walker Wealth Management Limited
Filleted Accounts
31 December 2024
Walker Wealth Management Limited
Registered number: 09746973
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 1,412,193 1,412,193
Tangible assets 4 102,294 3,464
1,514,487 1,415,657
Current assets
Debtors 5 248,258 213,978
Cash at bank and in hand 27,443 51,214
275,701 265,192
Creditors: amounts falling due within one year 6 (205,370) (214,595)
Net current assets 70,331 50,597
Total assets less current liabilities 1,584,818 1,466,254
Creditors: amounts falling due after more than one year 7 (813,626) (807,528)
Net assets 771,192 658,726
Capital and reserves
Called up share capital 11 11
Profit and loss account 771,181 658,715
Shareholders' funds 771,192 658,726
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr L Walker
Director
Approved by the board on 15 January 2025
Walker Wealth Management Limited
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 25% straight line
Motor vehicles 25% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 9 6
3 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2024 1,413,327
At 31 December 2024 1,413,327
Amortisation
At 1 January 2024 1,134
At 31 December 2024 1,134
Net book value
At 31 December 2024 1,412,193
At 31 December 2023 1,412,193
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2024 24,214 - 24,214
Additions 4,643 108,000 112,643
At 31 December 2024 28,857 108,000 136,857
Depreciation
At 1 January 2024 20,750 - 20,750
Charge for the year 3,854 9,959 13,813
At 31 December 2024 24,604 9,959 34,563
Net book value
At 31 December 2024 4,253 98,041 102,294
At 31 December 2023 3,464 - 3,464
5 Debtors 2024 2023
£ £
Trade debtors 41,875 27,146
Accrued income 32,206 -
Other debtors and prepayments 520 -
Employee loan account 82,535 76,622
Directors' loan account 82,534 76,622
Loans 8,588 33,588
248,258 213,978
Amounts due after more than one year included above 165,069 153,244
6 Creditors: amounts falling due within one year 2024 2023
£ £
Loans 87,708 110,136
Obligations under finance lease and hire purchase contracts 12,339 -
Trade creditors 832 6,282
Corporation tax 83,689 84,514
Taxation and social security costs 4,352 1,418
Other creditors and accruals 16,450 12,245
205,370 214,595
7 Creditors: amounts falling due after one year 2024 2023
£ £
Loans 736,558 807,528
Obligations under finance lease and hire purchase contracts 77,068 -
813,626 807,528
8 Other information
Walker Wealth Management Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 11a
New Fileds Business Park
2 Stinsford Road
Poole
BH17 0NF
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