1st Master Wallties (UK) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 11562307 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2024

FOR

1ST MASTER WALLTIES (UK) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr R A Smith

SECRETARY:

Mrs J M Smith

REGISTERED OFFICE:

Larch House

Parklands Business Park

Denmead

Hampshire

PO7 6XP

REGISTERED NUMBER:

11562307 (England and Wales)

ACCOUNTANTS:

Gibson Whitter

Chartered Accountants

and Chartered Tax Advisers

Larch House

Parklands Business Park

Denmead

Hampshire

PO7 6XP

FIXED ASSETS

Tangible assets

4

23,988

30,004

CURRENT ASSETS

Debtors

5

77,926

49,725

Cash at bank

63,895

32,624

141,821

82,349

CREDITORS

Amounts falling due within one year

6

52,337

60,822

NET CURRENT ASSETS

89,484

21,527

TOTAL ASSETS LESS CURRENT
LIABILITIES

113,472

51,531

CREDITORS

Amounts falling due after more than one
year

7

(18,786

)

(28,774

)

PROVISIONS FOR LIABILITIES

8

(5,997

)

(5,701

)

NET ASSETS

88,689

17,056

CAPITAL AND RESERVES

Called up share capital

9

101

Retained earnings

88,588

16,955

SHAREHOLDERS' FUNDS

88,689

17,056

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 and authorised for issue by the director and authorised for issue on 30 September 2025 and were signed by:

Mr R A Smith - Director

1.	STATUTORY INFORMATION

1st Master Wallties (UK) 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.

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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on reducing balance and 25% on cost

Taxation

Taxation for the year 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 year 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 October 2023

52,816

Additions

1,731

At 30 September 2024

54,547

DEPRECIATION

At 1 October 2023

22,812

Charge for year

7,747

At 30 September 2024

30,559

NET BOOK VALUE

At 30 September 2024

23,988

At 30 September 2023

30,004

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

machinery

etc

£

COST

At 1 October 2023

and 30 September 2024

51,497

DEPRECIATION

At 1 October 2023

10,881

Charge for year

6,796

At 30 September 2024

17,677

NET BOOK VALUE

At 30 September 2024

33,820

At 30 September 2023

40,616

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.24

30.9.23

£

Trade debtors

6,542

8,970

Other debtors

71,384

40,755

77,926

49,725

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.24

30.9.23

£

Hire purchase contracts

4,100

Trade creditors

1,968

-

Taxation and social security

45,049

48,077

Other creditors

1,220

8,645

52,337

60,822

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

30.9.24

30.9.23

£

Bank loans

10,244

16,132

Hire purchase contracts

8,542

12,642

18,786

28,774

The bank loan noted above represents a bounceback loan.

8.	PROVISIONS FOR LIABILITIES

30.9.24

30.9.23

£

Deferred tax

5,997

5,701

Deferred

tax

£

Balance at 1 October 2023

5,701

Utilised during year

296

Balance at 30 September 2024

5,997

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.9.24

30.9.23

value:

£

100

Ordinary

£1

101

1

Ordinary A

1

-

101

10.	RELATED PARTY DISCLOSURES

The aggregate amount owed by the director to the company at the balance sheet date is £54,531 (2023: owed to the director £7,673)

11.	ULTIMATE CONTROLLING PARTY

The company is controlled by Mr R and Mrs J Smith.