V Wallis Welding Limited

(Registration number: 05101648)
Balance Sheet as at 30 April 2026

	Note	2026 £	2025 £
Fixed assets
Tangible assets	4	63,735	43,760
Current assets
Stocks	5	1,500	1,500
Debtors	6	179,684	75,110
Cash at bank and in hand		628,577	756,299
		809,761	832,909
Creditors: Amounts falling due within one year	7	(113,487)	(132,290)
Net current assets		696,274	700,619
Total assets less current liabilities		760,009	744,379
Provisions for liabilities		(12,110)	(10,571)
Net assets		747,899	733,808
Capital and reserves
Called up share capital	8	100	100
Retained earnings		747,799	733,708
Shareholders' funds		747,899	733,808

For the financial year ending 30 April 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 June 2026 and signed on its behalf by:
 

......................................... Mr VWH Wallis Director

......................................... Mr RVA Wallis Director

V Wallis Welding Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2026

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
25 Market Place
Blandford Forum
Dorset
DT11 7AF

These financial statements were authorised for issue by the Board on 29 June 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the company and rounded to the nearest £1.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when: the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity, and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

V Wallis Welding Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2026 (continued)

2	Accounting policies (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and Machinery	15% on a reducing balance
Fixtures and fittings	15% on a reducing balance
Motor vehicles	25% on a reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised at the transaction price less an impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

V Wallis Welding Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2026 (continued)

2	Accounting policies (continued)

Defined contribution pension obligation

The company operates a defined contribution pension scheme. Contributions are recognised as employee benefit expense in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2025 - 8).

4	Tangible assets

	Furniture, fittings and equipment  £	Motor vehicles  £	Other tangible assets £	Total £
Cost or valuation
At 1 May 2025	6,388	77,581	62,206	146,175
Additions	-	28,935	2,750	31,685
Disposals	-	(17,990)	-	(17,990)
At 30 April 2026	6,388	88,526	64,956	159,870
Depreciation
At 1 May 2025	3,561	47,578	51,276	102,415
Charge for the year	502	7,590	1,568	9,660
Eliminated on disposal	-	(15,940)	-	(15,940)
At 30 April 2026	4,063	39,228	52,844	96,135
Carrying amount
At 30 April 2026	2,325	49,298	12,112	63,735
At 30 April 2025	2,827	30,003	10,930	43,760

V Wallis Welding Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2026 (continued)

5

Stocks

	2026 £	2025 £
Other inventories	1,500	1,500