The Walberswick Company Ltd - Period Ending 2023-05-31
The Walberswick Company Ltd - Period Ending 2023-05-31
Registration number:
Report of the Director and
for the
Year Ended 31 May 2023
for
The Walberswick Company Ltd
The Walberswick Company Ltd
Contents
Company Information |
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Director's Report |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
The Walberswick Company Ltd
Company Information
Director: |
Mrs S Poland |
Registered office: |
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Registered number: |
04851078 |
Accountants: |
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The Walberswick Company Ltd
Director's Report for the Year Ended 31 May 2023
The director presents her report and the financial statements for the year ended 31 May 2023.
Principal activity
The principal activity of the company is Letting of own property.
Director of the company
The director who held office during the year was as follows:
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the
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The Walberswick Company Ltd
(Registration number: 04851078)
Balance Sheet as at 31 May 2023
Note |
31.05.23 |
31.05.22 |
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£ |
£ |
£ |
£ |
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CURRENT ASSETS |
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Debtors |
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CREDITORS |
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Creditors within 1yr |
5,484 |
5,400 |
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Net assets |
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CAPITAL AND RESERVES |
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Called up share capital |
1 |
1 |
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Profit and loss account |
11,316 |
41,290 |
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Shareholders' funds |
11,317 |
41,291 |
For the financial year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Director's responsibilities:
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• |
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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The Walberswick Company Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023
1. |
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
England
These financial statements were authorised for issue by the
2. |
Accounting policies |
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The presentational currency is Pound Sterling (£).
Tax
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.
The Walberswick Company Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 May 2023 (continued)
2 |
Accounting policies (continued) |
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
3. |
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
4. |
Debtors |
31.05.23 |
31.05.22 |
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Other debtors |
16,801 |
16,063 |
Directors' current accounts |
- |
30,628 |
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Other debtors is made up of £16,802 in Section 455 tax.
The Directors' current account was charged interest at the official rate, no repayment terms have been set..
5. |
Creditors |
Creditors: amounts falling due within one year
31.05.23 |
31.05.22 |
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Due within one year |
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Accruals and deferred income |
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