Walrond Holdings Limited - Accounts to registrar (filleted) - small 18.2

Walrond Holdings Limited - Accounts to registrar (filleted) - small 18.2

WALROND HOLDINGS LIMITED - Company Information

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REGISTERED NUMBER: 03979952 (England and Wales)















Walrond Holdings Limited

Abridged Unaudited Financial Statements for the Year Ended 31 December 2019





Maxwells
Chartered Accountants
4 King Square
Bridgwater
Somerset
TA6 3YF








Walrond Holdings Limited (Registered number: 03979952)






Contents of the Financial Statements
for the Year Ended 31 December 2019




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Walrond Holdings Limited

Company Information
for the Year Ended 31 December 2019







DIRECTORS: J P J Walrond
M J Walrond



REGISTERED OFFICE: 4 King Square
Bridgwater
Somerset
TA6 3YF



REGISTERED NUMBER: 03979952 (England and Wales)



ACCOUNTANTS: Maxwells
Chartered Accountants
4 King Square
Bridgwater
Somerset
TA6 3YF



BANKERS: HSBC Bank plc
Ground Floor, Stratus House
Emperor Way
Exeter Business Park
Exeter
EX1 3QS
Page 1
Walrond Holdings Limited (Registered number: 03979952)

Abridged Statement of Financial Position
31 December 2019

31.12.19 31.12.18
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,015,117 1,015,525
Investments 6 - 100,000
1,015,117 1,115,525

CURRENT ASSETS
Debtors 19,054 63,717
Cash at bank 20,732 9,564
39,786 73,281
CREDITORS
Amounts falling due within one year 80,012 107,506
NET CURRENT LIABILITIES (40,226 ) (34,225 )
TOTAL ASSETS LESS CURRENT
LIABILITIES
974,891
1,081,300

CREDITORS
Amounts falling due after more than one
year
7
(395,000
)
(415,000
)

PROVISIONS FOR LIABILITIES (58,853 ) (58,885 )
NET ASSETS 521,038 607,415

CAPITAL AND RESERVES
Called up share capital 100,000 100,000
Investment revaluation reserve 9 359,744 359,744
Capital redemption reserve 100,001 100,001
Retained earnings (38,707 ) 47,670
SHAREHOLDERS' FUNDS 521,038 607,415

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The notes on pages 4 to 6 form part of these financial statements

Page 2 continued...
Walrond Holdings Limited (Registered number: 03979952)

Abridged Statement of Financial Position - continued
31 December 2019


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

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 31 December 2019 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22 December 2020 and were signed on its behalf by:





M J Walrond - Director


The notes on pages 4 to 6 form part of these financial statements

Page 3
Walrond Holdings Limited (Registered number: 03979952)

Notes to the Financial Statements
for the Year Ended 31 December 2019

1. STATUTORY INFORMATION

Walrond Holdings Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

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

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Preparation of consolidated financial statements
The financial statements contain information about Walrond Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - not provided
Plant and machinery etc - 33% on reducing balance, 25% on reducing balance and 15% on reducing balance

Freehold investment properties, in accordance with FRS 102 are held at fair value.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

Page 4 continued...
Walrond Holdings Limited (Registered number: 03979952)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2019

5. TANGIBLE FIXED ASSETS
Totals
£   
COST OR VALUATION
At 1 January 2019
and 31 December 2019 1,075,176
DEPRECIATION
At 1 January 2019 59,651
Charge for year 408
At 31 December 2019 60,059
NET BOOK VALUE
At 31 December 2019 1,015,117
At 31 December 2018 1,015,525

Cost or valuation at 31 December 2019 is represented by:

Totals
£   
Valuation in 2017 408,967
Cost 666,209
1,075,176

If Freehold investment property had not been revalued it would have been included at the following historical cost:

31.12.19 31.12.18
£    £   
Cost 604,291 604,291

Value of land in freehold land and buildings 37,545 37,545

Freehold investment property was valued on an open market basis on 31 December 2018 by the directors of the company .

Page 5 continued...
Walrond Holdings Limited (Registered number: 03979952)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2019

6. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 January 2019 100,000
Impairments (100,000 )
At 31 December 2019 -
NET BOOK VALUE
At 31 December 2019 -
At 31 December 2018 100,000

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
31.12.19 31.12.18
£    £   
Repayable by instalments
Bank loans 325,000 345,000

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.19 31.12.18
£    £   
Bank overdraft 672 -
Bank loans 415,000 435,000
415,672 435,000

Bank loans and overdrafts are secured on the assets of the company.

9. RESERVES
Investment
revaluation
reserve
£   
At 1 January 2019
and 31 December 2019 359,744

10. ULTIMATE CONTROLLING PARTY

The company was jointly controlled during the current and previous period by J P J Walrond and M J Walrond by virtue of the fact that, between them, they own all of the issued share capital.

Page 6