Walters Residential Limited - Accounts to registrar (filleted) - small 22.3
Walters Residential Limited - Accounts to registrar (filleted) - small 22.3
REGISTERED NUMBER: |
Walters Residential Limited |
Financial Statements |
for the Year Ended 28 February 2022 |
Walters Residential Limited (Registered number: 09443591) |
Contents of the Financial Statements |
for the Year Ended 28 February 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Walters Residential Limited |
Company Information |
for the Year Ended 28 February 2022 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Chartered Accountants |
& Statutory Auditors |
Highdale House |
7 Centre Court |
Treforest Industrial Estate |
Pontypridd |
Rhondda Cynon Taff |
CF37 5YR |
Walters Residential Limited (Registered number: 09443591) |
Balance Sheet |
28 February 2022 |
28.2.22 | 28.2.21 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 8 |
Revaluation reserve | 9 |
Retained earnings | 9 |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Walters Residential Limited (Registered number: 09443591) |
Notes to the Financial Statements |
for the Year Ended 28 February 2022 |
1. | STATUTORY INFORMATION |
Walters Residential Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts and rebates. |
Consideration from the sale of properties is recognised when the significant risks and rewards of ownership have been transferred to the buyer; the company retains no continuing involvement or control over the property and is it probable that future economic benefits will flow to the entity. |
Consideration from the rental of properties is recognised in the accounting period in which the rental period occurs. |
Investment property |
Investment property is included at fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold. |
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 balance sheet date. |
Deferred taxation |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2021 - NIL). |
Walters Residential Limited (Registered number: 09443591) |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2022 |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 March 2021 |
and 28 February 2022 |
NET BOOK VALUE |
At 28 February 2022 |
At 28 February 2021 |
Fair value at 28 February 2022 is represented by: |
£ |
Valuation in 2020 | 247,470 |
Cost | 1,407,304 |
1,654,774 |
If investment properties had not been revalued they would have been included at the following historical cost: |
28.2.22 | 28.2.21 |
£ | £ |
Cost | 1,407,304 | 1,407,304 |
Investment properties were valued on an open market basis on 28 February 2022 by the directors . |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.2.22 | 28.2.21 |
£ | £ |
Prepayments and accrued income |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.2.22 | 28.2.21 |
£ | £ |
Amounts owed to group undertakings |
Accruals and deferred income |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
28.2.22 | 28.2.21 |
£ | £ |
Amounts owed to group undertakings |
8. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 28.2.22 | 28.2.21 |
value: | £ | £ |
Ordinary | £1 | 1 | 1 |
Walters Residential Limited (Registered number: 09443591) |
Notes to the Financial Statements - continued |
for the Year Ended 28 February 2022 |
9. | RESERVES |
Retained | Revaluation |
earnings | reserve | Totals |
£ | £ | £ |
At 1 March 2021 | 294,944 |
Deficit for the year | ( |
) | ( |
) |
At 28 February 2022 | 290,107 |
10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The Report of the Auditors was unqualified. |
for and on behalf of |
11. | RELATED PARTY DISCLOSURES |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with the parent and wholly owned subsidiaries within the group. |
The company purchased services from the following fellow subsidiaries during the year. The total values of these transactions were as follows: |
28.02.22 | 28.02.21 |
Sales | Purchases | Sales | Purchases |
Walters Plant Hire Limited | - | 3,475 | - | 6,691 |
Balances due at year end: | 28.02.22 | 28.02.21 |
Debtor | Creditor | Debtor | Creditor |
Walters Plant Hire Limited | - | 3,475 | - | 6,691 |
Interest is charged at a rate of 3.5% above Barclays bank base rates on the intercompany loan included in creditors (2021: 3.5% above Barclays bank base rates). No interest is charged on other related party balances included in the accounts (2021:NIL). |
12. | ULTIMATE CONTROLLING PARTY |
The immediate and ultimate parent undertaking and the smallest and largest group to consolidate these financial statements is G. Walters (Holdings) Limited. Copies of the G. Walters (Holdings) Limited consolidated financial statements can be obtained from Hirwaun House, Hirwaun Industrial Estate, Hirwaun, Aberdare, Rhondda Cynon Taf, CF44 9UL. |