General Information
Walnut Renovation & Development Limited is a private company, limited by shares, registered in England and Wales, registration number 03998583, registration address 31-37 Russell Road, Rhyl, Denbighshire, LL18 3DB.
The presentation currency is £ sterling.
| 1. |
Accounting policies
Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Finance lease and hire purchase charges
The finance element of finance lease and hire purchase agreements is charged to the income statement over the relevant period.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The companys liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted.
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
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.
Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
| Motor Vehicles |
25% Reducing Balance
|
| Land and Buildings |
10% Straight Line |
| Fixtures and Fittings |
33% Straight Line & 15% Reducing Balance
|
Assets on finance lease and hire purchase
Assets held under finance lease or hire purchase contracts i.e. those contracts where substantially all the risks and rewards of ownership have passed to the company, are included in the appropriate category of tangible fixed assets and depreciated over the shorter of the lease term and their estimated expected useful lives.
Future obligations under such contracts are included in creditors net of the finance charge allocated to future periods.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
|
| 2. |
Average number of employees
Average number of employees during the year was 0 (2024 : 0).
|
| 3. |
Intangible fixed assets
| Cost |
Registration plate |
|
Total |
| |
£ |
|
£ |
| At 01 January 2025 |
3,200 |
|
3,200 |
| Additions |
- |
|
- |
| Disposals |
- |
|
- |
| At 31 December 2025 |
3,200 |
|
3,200 |
| Amortisation |
| At 01 January 2025 |
3,200 |
|
3,200 |
| Charge for year |
- |
|
- |
| On disposals |
- |
|
- |
| At 31 December 2025 |
3,200 |
|
3,200 |
| Net book values |
| At 31 December 2025 |
- |
|
- |
| At 31 December 2024 |
- |
|
- |
|
| 4. |
Tangible fixed assets
| Cost or valuation |
Land and Buildings |
|
Motor Vehicles |
|
Fixtures and Fittings |
|
Total |
| |
£ |
|
£ |
|
£ |
|
£ |
| At 01 January 2025 |
20,584 |
|
74,214 |
|
87,548 |
|
182,346 |
| Additions |
- |
|
60,220 |
|
7,059 |
|
67,279 |
| Disposals |
- |
|
(55,963) |
|
- |
|
(55,963) |
| At 31 December 2025 |
20,584 |
|
78,471 |
|
94,607 |
|
193,662 |
| Depreciation |
| At 01 January 2025 |
20,584 |
|
53,138 |
|
64,809 |
|
138,531 |
| Charge for year |
- |
|
15,898 |
|
7,890 |
|
23,788 |
| On disposals |
- |
|
(38,257) |
|
- |
|
(38,257) |
| At 31 December 2025 |
20,584 |
|
30,779 |
|
72,699 |
|
124,062 |
| Net book values |
| Closing balance as at 31 December 2025 |
- |
|
47,692 |
|
21,908 |
|
69,600 |
| Opening balance as at 01 January 2025 |
- |
|
21,075 |
|
22,739 |
|
43,814 |
The net book value of Motor Vehicles includes £ 45,166 (2024 £17,708) in respect of assets leased under finance leases or hire purchase contracts.
|
| 5. |
Advances and Credits
RJ Hancocks | Brought Forward
£ | Amount
£ | Interest
£ | Repaid
£ | Written Off
£ | Waived
£ | Carry Forward
£ |
|---|
| RJ Hancocks | 574,298 | | 181,942 | | 18,723 | | 250,384 | | - | | - | | 524,579 | | 574,298 | | 181,942 | | 18,723 | | 250,384 | | - | | - | | 524,579 |
| Brought Forward
£ | Amount
£ | Interest
£ | Repaid
£ | Written Off
£ | Waived
£ | Carry Forward
£ |
|---|
| RJ Hancocks | 823,565 | | 194,237 | | 13,949 | | 457,453 | | - | | - | | 574,298 | | 823,565 | | 194,237 | | 13,949 | | 457,453 | | - | | - | | 574,298 |
|
| 6. |
Controlling Parties
The company's ultimate controlling party is RJ Hancocks.
|
2
|