Walrond Holdings Limited - Accounts to registrar (filleted) - small 23.1.2

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 2022

Page

Company Information

Abridged Statement of Financial Position

Notes to the Financial Statements

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:

Handelsbanken

1st Floor

Equity House

Blackbrook Park Avenue

Taunton

Somerset

TA1 2PX

FIXED ASSETS

Tangible assets

1,014,300

1,014,518

CURRENT ASSETS

Debtors

18,899

27,978

Cash at bank

19,404

18,494

38,303

46,472

CREDITORS

Amounts falling due within one year

403,509

72,492

NET CURRENT LIABILITIES

(365,206

)

(26,020

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

649,094

988,498

CREDITORS

Amounts falling due after more than one
year

(355,000

)

PROVISIONS FOR LIABILITIES

(58,791

)

(58,807

)

NET ASSETS

590,303

574,691

CAPITAL AND RESERVES

Called up share capital

100,000

Investment revaluation reserve

359,744

Capital redemption reserve

100,001

Retained earnings

30,558

14,946

SHAREHOLDERS' FUNDS

590,303

574,691

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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 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 2022 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 12 April 2023 and were signed on its behalf by:

M J Walrond - Director

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.

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.

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 (2021 - 2 ) .

5.	TANGIBLE FIXED ASSETS

Totals

COST OR VALUATION

At 1 January 2022

and 31 December 2022

1,075,176

DEPRECIATION

At 1 January 2022

60,658

Charge for year

218

At 31 December 2022

60,876

NET BOOK VALUE

At 31 December 2022

1,014,300

At 31 December 2021

1,014,518

Cost or valuation at 31 December 2022 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:

31.12.22

31.12.21

Cost

604,291

Value of land in freehold land and buildings

37,545

Freehold investment property was valued on an open market basis on 31 December 2021 by the directors of the company .

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS

31.12.22

31.12.21

Repayable by instalments

Bank loans

285,000

7.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.22

31.12.21

Bank loans

355,000

375,000

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

RESERVES

Investment

revaluation

reserve

At 1 January 2022

and 31 December 2022

359,744

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2022 and 31 December 2021:

31.12.22

31.12.21

J P J Walrond

Balance outstanding at start of year

9,090

9,100

Amounts advanced

2,000

Amounts repaid

(10,000

)

(10

)

Amounts written off

Amounts waived

Balance outstanding at end of year

1,090

9,090

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.