Company registration number 07281672 (England and Wales)
Waltons Direct Limited
Unaudited financial statements
For the year ended 30 June 2025
Waltons Direct Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 7
Waltons Direct Limited
Statement of financial position
As at 30 June 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
3
4,267
55,399
Tangible assets
4
2,737
1,779
7,004
57,178
Current assets
Debtors
5
148,938
393,686
Cash at bank and in hand
578,302
273,045
727,240
666,731
Creditors: amounts falling due within one year
6
(269,961)
(138,958)
Net current assets
457,279
527,773
Net assets
464,283
584,951
Capital and reserves
Called up share capital
125
125
Share premium account
3,475
3,475
Profit and loss reserves
460,683
581,351
Total equity
464,283
584,951

For the financial year ended 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he 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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 20 January 2026 and are signed on its behalf by:
Mr K Walton
Director
Company registration number 07281672 (England and Wales)
Waltons Direct Limited
Notes to the financial statements
For the year ended 30 June 2025
- 2 -
1
Accounting policies
Company information

Waltons Direct Limited is a private company limited by shares incorporated in England and Wales. The registered office is Woodlands Park, Bedford Road, Clapham, Bedfordshire, England, MK41 6EJ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recover able.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is fifteen years.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computer Equipment
20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Waltons Direct Limited
Notes to the financial statements (continued)
For the year ended 30 June 2025
1
Accounting policies
(Continued)
- 3 -
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Waltons Direct Limited
Notes to the financial statements (continued)
For the year ended 30 June 2025
1
Accounting policies
(Continued)
- 4 -
1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.12
Leases
As lessee

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

Waltons Direct Limited
Notes to the financial statements (continued)
For the year ended 30 June 2025
- 5 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
6
6
3
Intangible fixed assets
Goodwill
£
Cost
At 1 July 2024 and 30 June 2025
767,000
Amortisation and impairment
At 1 July 2024
711,601
Amortisation charged for the year
51,132
At 30 June 2025
762,733
Carrying amount
At 30 June 2025
4,267
At 30 June 2024
55,399
4
Tangible fixed assets
Computer Equipment
£
Cost
At 1 July 2024
7,551
Additions
2,849
Disposals
(1,700)
At 30 June 2025
8,700
Depreciation and impairment
At 1 July 2024
5,772
Depreciation charged in the year
854
Eliminated in respect of disposals
(663)
At 30 June 2025
5,963
Waltons Direct Limited
Notes to the financial statements (continued)
For the year ended 30 June 2025
4
Tangible fixed assets
Computer Equipment
£
(Continued)
- 6 -
Carrying amount
At 30 June 2025
2,737
At 30 June 2024
1,779
5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
139,294
80,800
Other debtors
9,644
312,886
148,938
393,686
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
22,290
12,401
Taxation and social security
127,552
101,246
Other creditors
120,119
25,311
269,961
138,958
7
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
Total commitments
9,090
4,412
Waltons Direct Limited
Notes to the financial statements (continued)
For the year ended 30 June 2025
- 7 -
8
Directors' transactions

The advance is unsecured, repayable on demand and interest is charged at HMRC's official rate of interest per annum, where the balance exceeds £10,000.

Description
% Rate
Opening balance
Interest charged
Amounts repaid
Closing balance
£
£
£
£
Mr K Walton - Director's loan
2.25
310,809
886
(311,695)
-
310,809
886
(311,695)
-
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