The Wallet Limited Small abridged accounts

THE WALLET LIMITED - Company Information

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Statement of Consent to Prepare Abridged Financial Statements

All of the members of The Wallet Limited have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 30 April 2018 in accordance with Section 444(2A) of the Companies Act 2006.

COMPANY REGISTRATION NUMBER: 10128372

The Wallet Limited

Filleted Unaudited Abridged Financial Statements

30 April 2018

The Wallet Limited

Abridged Financial Statements

Year ended 30 April 2018

Contents	Page

Officers and professional advisers	1

Chartered certified accountants report to the director on the preparation of the unaudited statutory abridged financial statements	2

Abridged statement of financial position	3

Statement of changes in equity	4

Notes to the abridged financial statements	5

The Wallet Limited

Officers and Professional Advisers

Director	Mr S R Imm

Registered office	28 Tolpath
	Coed Eva
	Cwmbran
	Torfaen
	NP44 6UD

Accountants	Peter Price Accountants Limited
	Chartered Certified Accountants
	Office 4, The Former Globe Hotel
	Crane Street
	Pontypool
	NP4 6LY

Bankers	National Westminster
	36-37 Gwent Square
	Cwmbran
	Torfaen
	NP44 1YW

The Wallet Limited

Chartered Certified Accountants Report to the Director on the Preparation of the Unaudited Statutory Abridged Financial Statements of The Wallet Limited

Year ended 30 April 2018

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the abridged financial statements of The Wallet Limited for the year ended 30 April 2018, which comprise the abridged 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. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. This report is made solely to the director of The Wallet Limited in accordance with the terms of our engagement letter dated 27 March 2018. Our work has been undertaken solely to prepare for your approval the abridged financial statements of The Wallet Limited and state those matters that we have agreed to state to you in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Wallet Limited and its director for our work or for this report.

It is your duty to ensure that The Wallet Limited has kept adequate accounting records and to prepare statutory abridged financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The Wallet Limited. You consider that The Wallet 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 abridged financial statements of The Wallet 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 abridged financial statements.

Peter Price Accountants Limited Chartered Certified Accountants

Office 4, The Former Globe Hotel Crane Street Pontypool NP4 6LY

11 May 2018

The Wallet Limited

Abridged Statement of Financial Position

30 April 2018

	2018		2017
Note	£	£	£

Current assets

Cash at bank and in hand	2,674		3,959

Creditors: amounts falling due within one year	2,515		3,947
	-------		-------
Net current assets		159	12
		----	----
Total assets less current liabilities		159	12
		----	----
Net assets		159	12
		----	----

Capital and reserves

Called up share capital	2	2
Profit and loss account	157	10
	----	----
Member funds	159	12
	----	----

These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.

For the year ending 30 April 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

These abridged financial statements were approved by the board of directors and authorised for issue on 11 May 2018 , and are signed on behalf of the board by:

Mr S R Imm
Director

Company registration number: 10128372

The Wallet Limited

Statement of Changes in Equity

Year ended 30 April 2018

	Called up share capital	Profit and loss account	Total
	£	£	£
At 15 April 2016	–	–	–

Profit for the year		13,010	13,010
	----	---------	---------
Total comprehensive income for the year	–	13,010	13,010

Issue of shares	2	–	2
Dividends paid and payable	–	( 13,000)	( 13,000)
	----	---------	---------
Total investments by and distributions to owners	2	( 13,000)	( 12,998)

At 30 April 2017	2	10	12

Profit for the year		7,647	7,647
	----	---------	---------
Total comprehensive income for the year	–	7,647	7,647

Dividends paid and payable	–	( 7,500)	( 7,500)
	----	-------	-------
Total investments by and distributions to owners	–	( 7,500)	( 7,500)

	----	-------	-------
At 30 April 2018	2	157	159
	----	-------	-------

The Wallet Limited

Notes to the Abridged Financial Statements

Year ended 30 April 2018

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 28 Tolpath, Coed Eva, Cwmbran, Torfaen, NP44 6UD.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The abridged financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Director's advances, credits and guarantees

During the year the director entered into the following advances and credits with the company:

	2018
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
Mr S R Imm	( 230)	9,793	( 9,726)	( 163)
	----	-------	-------	----

	2017
	Balance brought forward	Advances/ (credits) to the director	Amounts repaid	Balance outstanding
	£	£	£	£
Mr S R Imm	–	15,841	( 16,071)	( 230)
	----	---------	---------	----