Walker Jackson Ltd - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 12324445 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 November 2022

for

Walker Jackson Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

L M Jackson

M Walker

SECRETARY:

M Walker

REGISTERED OFFICE:

c/o Locke Williams Associates LLP

Blackthorn House

St Pauls Square

Birmingham

West Midlands

B3 1RL

REGISTERED NUMBER:

12324445 (England and Wales)

ACCOUNTANTS:

Locke Williams Associates LLP

Chartered Accountants

c/o Blackthorn House

St Pauls Square

Birmingham

West Midlands

B3 1RL

FIXED ASSETS

Investment property

4

334,256

334,256

CURRENT ASSETS

Debtors

5

1,083

-

Cash at bank

120,697

106,813

121,780

106,813

CREDITORS

Amounts falling due within one year

6

335,801

333,271

NET CURRENT LIABILITIES

(214,021

)

(226,458

)

TOTAL ASSETS LESS CURRENT LIABILITIES

120,235

107,798

CREDITORS

Amounts falling due after more than one year

7

103,307

100,380

NET ASSETS

16,928

7,418

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

16,828

7,318

SHAREHOLDERS' FUNDS

16,928

7,418

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

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 10 August 2023 and were signed on its behalf by:

M Walker - Director

1.	STATUTORY INFORMATION

Walker Jackson Ltd 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty

In preparing the financial statements, the directors are required to make estimates and assumptions which affect reported income, expenditure, assets, liabilities and disclosure of contingent assets and liabilities. Use of available information and application of judgement are inherent in the formation of estimates, together with expectations of future events that are believed to be reasonable under the circumstances. Actual results in the future could differ from such estimates.

The key estimations used in these financial statements include:

Investment property - The directors have revalued the property to fair value at the year end. In doing so, they have considered the acquisition costs in the period and the current condition and occupation of the property at the year end date.

The directors consider that there are no significant areas of key judgement or estimation uncertainty

other than those identified in the accounting policies above.

Turnover

Turnover, being rents receivable, is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes and is recognised in accordance with the lease term.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a let basis or to realise the asset and settle the liability simultaneously.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Creditors which are debt instrument, such as loans and finance leases, are subsequently carried at amortised cost, using the effective interest rate method.

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 tax

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).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 December 2021

and 30 November 2022

334,256

NET BOOK VALUE

At 30 November 2022

334,256

At 30 November 2021

334,256

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.22

30.11.21

£

£

Other debtors

1,083

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.22

30.11.21

£

£

Taxation and social security

1,840

2,107

Other creditors

333,961

331,164

335,801

333,271

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.11.22

30.11.21

£

£

Bank loans

103,307

100,380

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

103,307

100,380

8.	SECURED DEBTS

The following secured debts are included within creditors:

30.11.22

30.11.21

£

£

Bank loans

103,307

100,380

The loan facility is secured by a fixed charge against one of the investment properties.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.11.22

30.11.21

value:

£

£

100

Ordinary

£1

100

100