Walsh's Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 04504192

WALSH'S LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 January 2025

WALSH'S LIMITED

STATEMENT OF FINANCIAL POSITION

31 January 2025

	2025		2024
Note	£	£	£	£

FIXED ASSETS

Intangible assets	5	9,200	10,350
Tangible assets	6	6,709	8,056
		--------	--------
		15,909	18,406

CURRENT ASSETS

Stocks		19,554	20,999
Debtors	7	2,694	3,118
Cash at bank and in hand		17,574	11,016
		--------	--------
		39,822	35,133

CREDITORS: amounts falling due within one year	8	28,561		26,147
		--------		--------
NET CURRENT ASSETS			11,261		8,986
			--------		--------
TOTAL ASSETS LESS CURRENT LIABILITIES			27,170		27,392

CREDITORS: amounts falling due after more than one year	9		7,167		15,767

PROVISIONS	1,677	2,014
	--------	--------
NET ASSETS	18,326	9,611
	--------	--------

CAPITAL AND RESERVES

Called up share capital	2	2
Profit and loss account	18,324	9,609
	--------	-------
SHAREHOLDERS FUNDS	18,326	9,611
	--------	-------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

WALSH'S LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 January 2025

These financial statements were approved by the board of directors and authorised for issue on 1 October 2025 , and are signed on behalf of the board by:

Mr D Walsh
Director

Company registration number: 04504192

WALSH'S LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 JANUARY 2025

1. GENERAL INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Kiosk 2 The Mall, Newlands Centre, Kettering, Northamptonshire, NN16 8JL.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. ACCOUNTING POLICIES

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	5% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and Machinery	-	15% reducing balance
Fixture and Fittings	-	15% reducing balance and 33 1/3% straight line

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4. EMPLOYEE NUMBERS

The average number of persons employed by the company during the year amounted to 2 (2024: 2 ).

5. INTANGIBLE ASSETS

	Goodwill
	£
Cost
At 1 February 2024 and 31 January 2025	23,000
	--------
Amortisation
At 1 February 2024	12,650
Charge for the year	1,150
	--------
At 31 January 2025	13,800
	--------
Carrying amount
At 31 January 2025	9,200
	--------
At 31 January 2024	10,350
	--------

6. TANGIBLE ASSETS

	Plant and machinery	Fixtures and fittings	Total
	£	£	£
Cost
At 1 February 2024 and 31 January 2025	37,510	23,905	61,415
	--------	--------	--------
Depreciation
At 1 February 2024	33,407	19,952	53,359
Charge for the year	754	593	1,347
	--------	--------	--------
At 31 January 2025	34,161	20,545	54,706
	--------	--------	--------
Carrying amount
At 31 January 2025	3,349	3,360	6,709
	--------	--------	--------
At 31 January 2024	4,103	3,953	8,056
	--------	--------	--------

7. DEBTORS

	2025	2024
	£	£
Trade debtors	250	810
Other debtors	2,444	2,308
	-------	-------
	2,694	3,118
	-------	-------

8. CREDITORS: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	8,600	8,600
Trade creditors	1,533	1,877
Corporation tax	7,862	7,908
Social security and other taxes	5,462	4,948
Other creditors	5,104	2,814
	--------	--------
	28,561	26,147
	--------	--------

9. CREDITORS: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	7,167	15,767
	-------	--------