Registered number
12963180
WALR GROUP LTD
Unaudited Filleted Accounts
31 December 2024
WALR GROUP LTD
Registered number: 12963180
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 4 8,158 12,608
Tangible assets 5 154,386 60,635
Investments 6 510,000 900,000
672,544 973,243
Current assets
Debtors 7 4,047,787 1,894,683
Cash at bank and in hand 818,468 566,083
4,866,255 2,460,766
Creditors: amounts falling due within one year 8 (4,011,446) (2,888,081)
Net current assets/(liabilities) 854,809 (427,315)
Net assets 1,527,353 545,928
Capital and reserves
Called up share capital 32 12
Share premium 654,514 1,897,916
Other reserves 9 12,620 12,620
Profit and loss account 860,187 (1,364,620)
Shareholders' funds 1,527,353 545,928
The directors are 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 directors acknowledge their 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 T Badar
Director
Approved by the board on 29 September 2025
WALR GROUP LTD
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).
Going concern
The directors have assessed the Balance Sheet and likely future cashflows and profitability at the date of approving these financial statements and have determined that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly they continue to adopt the going concern basis in preparing the financial statements.
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.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.
Computer software 5 years straight line
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:
Office equipment 3 years straight line
Computer equipment 3 years straight line
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Group accounts
The company and its subsidaries form a small size group which does not require consolidation under Companies Act 2006. The financial statements present information about the company as an individual entity and not about its group.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Leased assets
Rentals under operating lease payments are recognised as an expense on a straight line basis over the lease term.
Software research and development costs
Software research and development costs are written off to the profit and loss account in the year expenditure is incurred.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Exceptional items 2024 2023
£ £
Loans waived 70,300 -
70,300 -
The loan was due to the Norwegian subsidiary and waived by agreement.
3 Employees 2024 2023
Number Number
Average number of persons employed by the company 40 33
4 Intangible fixed assets £
Goodwill:
Cost
At 1 January 2024 22,250
At 31 December 2024 22,250
Amortisation
At 1 January 2024 9,642
Provided during the year 4,450
At 31 December 2024 14,092
Net book value
At 31 December 2024 8,158
At 31 December 2023 12,608
Capitalised computer software is being written off in equal annual instalments over its estimated economic life of 5 years.
5 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2024 106,213
Additions 153,845
At 31 December 2024 260,058
Depreciation
At 1 January 2024 45,578
Charge for the year 60,094
At 31 December 2024 105,672
Net book value
At 31 December 2024 154,386
At 31 December 2023 60,635
6 Investments
Investments in
subsidiary
undertakings
£
Cost
At 1 January 2024 900,000
Impairment (390,000)
At 31 December 2024 510,000
Historical cost
At 1 January 2024 900,000
At 31 December 2024 900,000
7 Debtors 2024 2023
£ £
Trade debtors 3,030,006 1,588,990
Amounts owed by group undertakings and undertakings in which the company has a participating interest 613,578 140,708
Other debtors 404,203 164,985
4,047,787 1,894,683
8 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 2,280,553 1,142,062
Amounts owed to group undertakings and undertakings in which the company has a participating interest 148,418 456,956
Taxation and social security costs 277,390 249,765
Other creditors 1,305,085 1,039,298
4,011,446 2,888,081
9 Other reserves 2024 2023
£ £
At 1 January 2024 12,620 12,620
At 31 December 2024 12,620 12,620
10 Pension commitments
The company operates a defined contributions pension scheme for the directors and employees. The assets of the scheme are held separately from those of the company, in an independently administered fund. Unpaid contributions due to the fund at the year end amounted to £13,280 (2023: £7,256).
11 Related party transactions
The company has taken advantage of exemptions available under FRS102 not to disclose transactions between wholly owned subsidiaries.
12 Taxation
No corporation tax liability arises in the year due to the availability of losses brought forward. A provision for a tax refund of £49,939 has been made in respect of adjustments to the previous year.
13 Other information
WALR GROUP LTD is a private company limited by shares and incorporated in England. Its registered office is:
Third Floor Great Suffolk Yard
129-131 Great Suffolk Street
London
SE1 1PP
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