WALKER SINGLETON (COMMERCIAL) LIMITED


Directors	BARKER, Ryan Grant
	CHAPMAN, Allan Mark
	DIAKIW, Paul Michael
	HEY, Daniel Charles
	WAITES, Benjamin Lawrence


Company Secretary	CLARK, Kathryn


Registered Address	Property House
	Lister Lane
	Halifax
	HX1 5AS


Registered Number	03351035 (England and Wales)

Notes to the Financial Statements
for the year ended 31 March 2025

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company.

	Turnover policy
	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/or 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.

Turnover policy

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/or 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.

	Operating leases
	Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the Income Statement on a straight-line basis over the period of the lease. Where the company is a lessor, rental income from operating leases is credited to the Income Statement on a straight-line basis over the lease term.

Operating leases

Where, substantially, all the risks and rewards of ownership of the asset do not transfer from the lessor to the company, the lease is treated as an operating lease. Rentals payable under operating leases are charged to the Income Statement on a straight-line basis over the period of the lease.

Where the company is a lessor, rental income from operating leases is credited to the Income Statement on a straight-line basis over the lease term.

	Defined contribution pension plan
	The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. Contributions to defined contribution plans are expensed in the period to which they relate. Amounts not paid are shown in other creditors in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.

Defined contribution pension plan

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further obligation. 

Contributions to defined contribution plans are expensed in the period to which they relate.  Amounts not paid are shown in other creditors in the Statement of Financial Position.  The assets of the plan are held separately from the company in independently administered funds.

	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 the Income Statement

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 the Income Statement

	Current taxation
	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
	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.

Deferred tax

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.

	Intangible assets
	Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.

	Amortisation
	Intangible assets are not permitted to have an indefinite life and must be amortised over their estimated useful life. The estimated useful life of Computer Software has been set at 5 years and the asset will be amortised on a straight-line basis over that period.

	Goodwill
	Goodwill arising on an acquisition of a business is carried at cost less accumulated impairment losses, if any. Goodwill is amortised over its expected useful life which is estimated to be ten years. Goodwill is assessed for impairment when there are indicators of impairment and any impairment is charged to the income statement. No reversals of impairment are recognised.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement

Depreciation is provided on all tangible fixed assets as follows:


		Straight line (years)
	Fixtures and fittings	5
	Office Equipment	5

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. 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 Income Statement.

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. 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 Income Statement.

	Stocks and work in progress
	Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Income Statement. Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

Stocks and work in progress

Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). 

At each date of Statement of Financial Position, stocks are assessed for impairment.  If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell.  The impairment loss is recognised immediately in the Income Statement.

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

	Trade and other 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.

Trade and other 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.

	Financial instruments
	The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	13		14

3.	Intangible assets

	Goodwill	Other	Total
	£	£	£
Cost or valuation
At 01 April 24	171,101	20,285	191,386
At 31 March 25	171,101	20,285	191,386
Amortisation and impairment
At 01 April 24	101,234	1,779	103,013
Charge for year	17,204	1,837	19,041
At 31 March 25	118,438	3,616	122,054
Net book value
At 31 March 25	52,663	16,669	69,332
At 31 March 24	69,867	18,506	88,373

4.	Tangible fixed assets

	Fixtures & fittings	Office Equipment	Total
	£	£	£
Cost or valuation
At 01 April 24	17,193	17,737	34,930
Additions	559	25,369	25,928
At 31 March 25	17,752	43,106	60,858
Depreciation and impairment
At 01 April 24	14,402	7,039	21,441
Charge for year	843	4,891	5,734
At 31 March 25	15,245	11,930	27,175
Net book value
At 31 March 25	2,507	31,176	33,683
At 31 March 24	2,791	10,698	13,489

5.	Fixed asset investments

	Investments in groups¹	Total
	£	£
Cost or valuation
At 01 April 24	4,992	4,992
At 31 March 25	4,992	4,992
Net book value
At 31 March 25	4,992	4,992
At 31 March 24	4,992	4,992

	Notes
	¹Investments in group undertakings and participating interests

6.	Stocks

	2025	2024
	£	£
Work in progress	62,330	67,173
Total	62,330	67,173

7.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	172,945	191,551
Other debtors	370,721	317,637
Prepayments and accrued income	85,050	101,185
Total	628,716	610,373

8.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	73,692	62,409
Bank borrowings and overdrafts	81,705	95,743
Taxation and social security	25,789	14,493
Other creditors	469,273	527,525
Accrued liabilities and deferred income	81,360	43,049
Total	731,819	743,219

9.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	3,538	13,965
Total	3,538	13,965

10.	Provisions for liabilities
	The provision for deferred tax is made up of £12,588 in respect of accelerated capital allowances.

	2025	2024
	£	£
Net deferred tax liability (asset)	12,588	7,999
Total	12,588	7,999

11.	Operating lease commitments
	At 31 March 2025 the company had future minimum lease payments under non-cancellable operating leases of £459,446 (2024 - £330,032).

12.	Related party transactions
	Amounts included under Other Debtors totalling £312,851 (2024 - £194,036) and amounts included under Other Creditors totalling £469,154 (2024 - £527,407) are owed from/to related undertakings.

	Notes	2025		2024
		£	£	£	£
Fixed assets
Intangible assets	3		69,332		88,373
Tangible assets	4		33,683		13,489
Investments	5		4,992		4,992
			108,007		106,854
Current assets
Stocks	6	62,330		67,173
Debtors	7	628,716		610,373
Cash at bank and on hand		51,800		102,470
		742,846		780,016
Creditors amounts falling due within one year	8	(731,819)		(743,219)
Net current assets (liabilities)			11,027		36,797
Total assets less current liabilities			119,034		143,651
Creditors amounts falling due after one year	9		(3,538)		(13,965)
Provisions for liabilities	10		(12,588)		(7,999)
Net assets			102,908		121,687
Capital and reserves
Called up share capital			10		10
Profit and loss account			102,898		121,677
Shareholders' funds			102,908		121,687