Walkers Motors Limited Filleted accounts for Companies House (small and micro)
Walkers Motors Limited Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
08145841
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Statement of Financial Position |
2020 |
2019 |
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Note |
£ |
£ |
£ |
Fixed assets
Tangible assets |
5 |
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Current assets
Debtors |
6 |
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Cash at bank and in hand |
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------- |
------- |
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Creditors: amounts falling due within one year |
7 |
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------- |
------- |
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Net current assets |
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-------- |
------- |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
8 |
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-------- |
-------- |
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Net liabilities |
(
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(
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Capital and reserves
Called up share capital |
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Profit and loss account |
(
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(
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-------- |
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Shareholders deficit |
(
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(
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In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
Director's responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
;
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
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Statement of Financial Position (continued) |
These financial statements were approved by the
board of directors
and authorised for issue on
28 April 2021
, and are signed on behalf of the board by:
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Director |
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Company registration number:
08145841
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Notes to the Financial Statements |
Year ended 31 July 2020
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 8, Stafford Indistrial Estate, Padfield, Glossop, Derbyshire, SK13 1EB, England.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Going concern
Changes in formats
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. These financial statements were prepared in accordance with Section 1A of the Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland ("FRS102") as issued in August 2014. The amendments to FRS 102 issued in July 2015 have been applied. The presentation currency of these financial statements is Sterling Pounds.
Changes in accounting policies
Changes in accounting estimates
Revenue recognition
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant & Machinery |
- |
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Fixtures & Fittings |
- |
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Office Equipment |
- |
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Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Government grants
Financial instruments
Defined contribution plans
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
2
(2019:
2
).
5.
Tangible assets
Plant and machinery |
Fixtures and fittings |
Equipment |
Total |
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£ |
£ |
£ |
£ |
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Cost |
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At 1 August 2019 |
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Additions |
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– |
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------- |
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-------- |
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At 31 July 2020 |
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------- |
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-------- |
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Depreciation |
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At 1 August 2019 |
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Charge for the year |
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– |
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------- |
------- |
------- |
-------- |
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At 31 July 2020 |
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------- |
------- |
------- |
-------- |
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Carrying amount |
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At 31 July 2020 |
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– |
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------- |
------- |
------- |
-------- |
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At 31 July 2019 |
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– |
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------- |
------- |
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-------- |
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6.
Debtors
2020 |
2019 |
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£ |
£ |
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Other debtors |
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------- |
---- |
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7.
Creditors:
amounts falling due within one year
2020 |
2019 |
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£ |
£ |
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Trade creditors |
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Other creditors |
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------- |
------- |
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------- |
------- |
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8.
Creditors:
amounts falling due after more than one year
2020 |
2019 |
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£ |
£ |
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Other creditors |
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9.
Financial instruments
In accordance with FRS 102.22, financial instruments issued by the Company are treated as equity only to the extent that they meet the following two conditions:
(a) They include no contractual obligations upon the Company to deliver cash or other financial assets or to exchange financial assets or financial liabilities with another party under conditions that are potentially unfavourable to the Company; and
(b) Where the instrument will or may be settled in the Company's own equity instruments, it is either a non-derivative that includes no obligation to deliver a variable number of the Company's own equity instruments or is a derivative that will be settled by the Company's exchanging a fixed amount of cash or other financial assets for a fixed number of its own equity instruments.
To the extent that this definition is not met, the proceeds of issue are classified as a financial liability. Where the instrument so classified takes the legal form of the Company's own shares, the amounts presented in these financial statements for called up share capital and share premium account exclude amounts in relation to those shares
10.
Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
Balance brought forward and outstanding |
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2020 |
2019 |
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£ |
£ |
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(
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(
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11.
Related party transactions
The company was under the control of
Mr A Walker
throughout the current and previous year. Mr A Walker
is the managing director and majority shareholder. No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard for Smaller Entities.