Walton Family Holdings Limited - Limited company accounts 23.2

REGISTERED NUMBER: 11966761 (England and Wales)

REPORT OF THE DIRECTORS AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

FOR

WALTON FAMILY HOLDINGS LIMITED

Page

Company Information

1

Report of the Directors

2

Accountants' Report

3

Income Statement

4

Statement of Financial Position

5

Statement of Changes in Equity

6

Notes to the Financial Statements

7

DIRECTORS:

P Walton

J Walton

E M Walton

D Walton

REGISTERED OFFICE:

Bruntingthorpe Airfield Proving Ground

Bruntingthorpe

Nr Lutterworth

Leicestershire

LE17 5QS

REGISTERED NUMBER:

11966761 (England and Wales)

ACCOUNTANTS:

DNG Dove Naish LLP

Eagle House

28 Billing Road

Northampton

NN1 5AJ

The directors present their report with the financial statements of the company for the year ended 30 June 2023.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of a holding company.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 July 2022 to the date of this report.

P Walton

J Walton

E M Walton

D Walton

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

SIGNED BY ORDER OF THE DIRECTORS:

E M Walton - Director

15 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Walton Family Holdings Limited for the year ended 30 June 2023 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Walton Family Holdings Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Walton Family Holdings Limited and state those matters that we have agreed to state to the Board of Directors of Walton Family Holdings Limited, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Walton Family Holdings Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Walton Family Holdings Limited. You consider that Walton Family Holdings Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Walton Family Holdings Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

We align ourselves to, but are not a fully recognised member of, the Association of Chartered Certified Accountants, and we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

DNG Dove Naish LLP

Eagle House

28 Billing Road

Northampton

NN1 5AJ

18 March 2024

TURNOVER

-

-

Administrative expenses

2,725

2,174

(2,725

)

(2,174

)

Other operating income

3,470,000

3,210,000

OPERATING PROFIT and

PROFIT BEFORE TAXATION

3,467,275

3,207,826

Tax on profit

1,450

1,549

PROFIT FOR THE FINANCIAL YEAR

3,465,825

3,206,277

FIXED ASSETS

Investments

4

10,000

10,000

CURRENT ASSETS

Debtors

5

10,068

12,000

Cash at bank

15,182

8,850

25,250

20,850

CREDITORS

Amounts falling due within one year

6

3,067

4,492

NET CURRENT ASSETS

22,183

16,358

TOTAL ASSETS LESS CURRENT LIABILITIES

32,183

26,358

CAPITAL AND RESERVES

Called up share capital

10,000

10,000

Retained earnings

22,183

16,358

SHAREHOLDERS' FUNDS

32,183

26,358

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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 in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 15 March 2024 and were signed on its behalf by:

E M Walton - Director

Called up

share

Retained

Total

capital

earnings

equity

£

£

£

Balance at 1 July 2021

10,000

110,081

120,081

Changes in equity

Dividends

-

(3,300,000

)

(3,300,000

)

Total comprehensive income

-

3,206,277

3,206,277

Balance at 30 June 2022

10,000

16,358

26,358

Changes in equity

Dividends

-

(3,460,000

)

(3,460,000

)

Total comprehensive income

-

3,465,825

3,465,825

Balance at 30 June 2023

10,000

22,183

32,183

1.	STATUTORY INFORMATION

Walton Family 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Preparation of consolidated financial statements

The financial statements contain information about Walton Family 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.

Significant judgements and estimates

The preparation of financial statements requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the company accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed within the individual accounting policies below.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less.

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 statement of comprehensive income under administrative expenses.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 July 2022

and 30 June 2023

10,000

NET BOOK VALUE

At 30 June 2023

10,000

At 30 June 2022

10,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Amounts owed by group undertakings

10,000

12,000

VAT

68

-

10,068

12,000

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade creditors

342

312

Tax

1,450

1,549

VAT

-

1,831

Accruals and deferred income

1,275

800

3,067

4,492