Company Registration No. 10204022 (England and Wales)
Wagstaff & Walter Limited
Unaudited accounts
for the year ended 30 April 2025
Wagstaff & Walter Limited
Unaudited accounts
Contents
Wagstaff & Walter Limited
Company Information
for the year ended 30 April 2025
Directors
Mr Matthew Wagstaff
Mr Gavin Walter
Mrs Rebecca Wagstaff
Mrs Victoria Walter
Company Number
10204022 (England and Wales)
Registered Office
16 Out Northgate
Bury St. Edmunds
Suffolk
IP33 1JQ
England
Accountants
Beaumara Ltd
High street
Attleborough
Norfolk
NR17 2EH
Wagstaff & Walter Limited
Statement of financial position
as at 30 April 2025
Tangible assets
6,660,000
7,551,000
Investments
122,103
116,071
Cash at bank and in hand
463,544
124,263
Creditors: amounts falling due within one year
(151,638)
(183,268)
Net current assets
439,116
58,123
Total assets less current liabilities
7,099,116
7,609,123
Creditors: amounts falling due after more than one year
(4,062,058)
(4,281,214)
Provisions for liabilities
Deferred tax
(210,746)
(190,496)
Net assets
2,826,312
3,137,413
Called up share capital
1,000
1,000
Share premium
2,046,231
2,046,231
Revaluation reserve
571,490
571,490
Profit and loss account
207,591
518,692
Shareholders' funds
2,826,312
3,137,413
For the year ending 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 21 November 2025 and were signed on its behalf by
Mr Matthew Wagstaff
Director
Company Registration No. 10204022
Wagstaff & Walter Limited
Notes to the Accounts
for the year ended 30 April 2025
Wagstaff & Walter Limited is a private company, limited by shares, registered in England and Wales, registration number 10204022. The registered office is 16 Out Northgate, Bury St. Edmunds, Suffolk, IP33 1JQ, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less and subsequent accumulated depreciation and subsequent accumulated impairment losses.
Land & buildings
0% - Investment property at fair value
Computer equipment
25% straight line
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Investments in shares are included at fair value.
Wagstaff & Walter Limited
Notes to the Accounts
for the year ended 30 April 2025
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Land & buildings
Plant & machinery
Total
Cost or valuation
At valuation
At cost
At 1 May 2024
7,551,000
1,573
7,552,573
Revaluations
81,000
-
81,000
Disposals
(972,000)
-
(972,000)
At 30 April 2025
6,660,000
1,573
6,661,573
At 1 May 2024
-
1,573
1,573
At 30 April 2025
-
1,573
1,573
At 30 April 2025
6,660,000
-
6,660,000
At 30 April 2024
7,551,000
-
7,551,000
Amounts falling due within one year
6
Investments held as current assets
2025
2024
Unlisted investments
122,103
116,071
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Creditors: amounts falling due within one year
2025
2024
Bank loans and overdrafts
-
16,000
Trade creditors
11,141
10,444
Taxes and social security
14,195
28,841
Other creditors
124,802
127,983
Wagstaff & Walter Limited
Notes to the Accounts
for the year ended 30 April 2025
8
Creditors: amounts falling due after more than one year
2025
2024
Bank loans
4,062,058
4,281,214
The bank loans above relate entirely to individual mortgages all of which are secured against specific properties. The borrowing is typically on an Interest only basis although there are two facilities on a Capital Repayment basis.
Included within Creditors: amounts falling due after more than one year is an amount of £199,005 (2024 £3,874,662) in respect of liabilities repayable other than instalments which fall due for payment more than 5 years from the reporting date.
There are 23 (2024: 26) mortgages, each secured on an individual property. The mortgages have a variety of interest rates and repayment dates and are reviewed regularly by the directors.
9
Transactions with related parties
During the year the company entered into the following transactions with related parties:
Dividend paid to M Wagstaff, director £180,000 (2024: £78,250)
Dividends paid to G Walter, director £180,000 (2024: £78,250)
Following the incorporation of the partnership, M & G Property Management, in May 2018, a number of the properties and the related mortgages continue to be held in the names of the original partners.
A Declaration of Trust has been signed to confirm that the company is the Beneficiary of the letting profits and any sale proceeds, and is responsible for settling mortgage liabilities as they fall due. As properties are bought and sold, and mortgages renewed, the number of properties held in this is expected to reduce.
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Average number of employees
During the year the average number of employees was 4 (2024: 4).