WALLWIK LIMITED


Director	Paul Simon Rydzyk


Registered Address	4 Hepscott Road
	London
	E9 5HB


Registered Number	05833505 (England and Wales)

Notes to the Financial Statements
for the year ended 31 May 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.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Going concern
	As of the time of approving the financial statements, the director had a reasonable expectation that the company had adequate resources to continue in operational existence for the foreseeable future. Therefore, the director continued to adopt the going concern basis of accounting in preparing the financial statements.

	Revenue from sale of goods
	Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

Revenue from sale of goods

Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.

	Employee benefits
	Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

Employee benefits

Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.

	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 profit or loss.

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 profit or loss.

	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.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:


	Reducing balance (%)	Straight line (years)
Plant and machinery	-	4
Fixtures and fittings	-	4
Vehicles	20	-
Office Equipment	-	4

	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 profit and loss account.

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 profit and loss account.

	Stocks and work in progress
	Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

Stocks and work in progress

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.

Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

2.	Average number of employees


		2025		2024
	Average number of employees during the year	3		4

3.	Intangible assets

	Other	Total
	£	£
Cost or valuation
At 01 June 24	15,775	15,775
At 31 May 25	15,775	15,775
Amortisation and impairment
At 01 June 24	15,775	15,775
At 31 May 25	15,775	15,775
Net book value
At 31 May 25	-	-
At 31 May 24	-	-

4.	Tangible fixed assets

	Plant & machinery	Fixtures & fittings	Office Equipment	Total
	£	£	£	£
Cost or valuation
At 01 June 24	53,229	28,802	138,408	220,439
Additions	-	3,317	3,523	6,840
At 31 May 25	53,229	32,119	141,931	227,279
Depreciation and impairment
At 01 June 24	49,898	25,766	125,554	201,218
Charge for year	3,331	3,683	7,635	14,649
At 31 May 25	53,229	29,449	133,189	215,867
Net book value
At 31 May 25	-	2,670	8,742	11,412
At 31 May 24	3,331	3,036	12,854	19,221

5.	Fixed asset investments

	Investments in groups¹	Total
	£	£
Cost or valuation
At 01 June 24	100	100
At 31 May 25	100	100
Net book value
At 31 May 25	100	100
At 31 May 24	100	100

	Notes
	¹Investments in group undertakings and participating interests

6.	Stocks

	2025	2024
	£	£
Raw materials and consumables	82,425	85,809
Total	82,425	85,809

7.	Debtors: amounts due within one year

	2025	2024
	£	£
Trade debtors / trade receivables	2,540	460
Amounts owed by group undertakings	172,165	172,165
Other debtors	359,161	271,461
Deferred tax asset, debtors	-	17,721
Total	533,866	461,807

8.	Creditors: amounts due within one year

	2025	2024
	£	£
Trade creditors / trade payables	187,381	215,503
Bank borrowings and overdrafts	80,279	78,481
Taxation and social security	203,292	142,534
Other creditors	178,437	193,156
Accrued liabilities and deferred income	2,445	2,323
Total	651,834	631,997

9.	Creditors: amounts due after one year

	2025	2024
	£	£
Bank borrowings and overdrafts	31,932	67,715
Total	31,932	67,715

10.	Provisions for liabilities

	2025	2024
	£	£
Net deferred tax liability (asset)	989	-
Total	989	-

11.	Operating lease commitments
	At 31 May 2025, the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £121,722 (2024 - £177,327).

12.	Directors advances, credits and guarantees

	Brought forward	Amount advanced	Amount repaid	Carried forward
	£	£	£	£
Paul Simon Rydzyk	187,132	69,167	0	256,299
	187,132	69,167	0	256,299


	Interest is charged on the balance at a rate of 2.25% and is repayable on demand.

	Notes	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	4		11,412		19,221
Investments	5		100		100
			11,512		19,321
Current assets
Stocks	6	82,425		85,809
Debtors	7	533,866		461,807
Cash at bank and on hand		552		1,025
		616,843		548,641
Creditors amounts falling due within one year	8	(651,834)		(631,997)
Net current assets (liabilities)			(34,991)		(83,356)
Total assets less current liabilities			(23,479)		(64,035)
Creditors amounts falling due after one year	9		(31,932)		(67,715)
Provisions for liabilities	10		(989)		-
Net assets			(56,400)		(131,750)
Capital and reserves
Called up share capital			10		10
Profit and loss account			(56,410)		(131,760)
Shareholders' funds			(56,400)		(131,750)