Graham Walker Limited - Accounts to registrar (filleted) - small 18.2
Graham Walker Limited - Accounts to registrar (filleted) - small 18.2
| GRAHAM WALKER LIMITED |
| Unaudited Financial Statements |
| for the Year Ended 31st May 2018 |
| GRAHAM WALKER LIMITED (REGISTERED NUMBER: 01212937) |
| Contents of the Financial Statements |
| for the year ended 31st May 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| GRAHAM WALKER LIMITED |
| Company Information |
| for the year ended 31st May 2018 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 1 Abbots Quay |
| Monks Ferry |
| Birkenhead |
| Merseyside |
| CH41 5LH |
| GRAHAM WALKER LIMITED (REGISTERED NUMBER: 01212937) |
| Balance Sheet |
| 31st May 2018 |
| 2018 | 2017 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Stocks | 6 |
| Debtors | 7 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| GRAHAM WALKER LIMITED (REGISTERED NUMBER: 01212937) |
| Balance Sheet - continued |
| 31st May 2018 |
| 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 on behalf by: |
| GRAHAM WALKER LIMITED (REGISTERED NUMBER: 01212937) |
| Notes to the Financial Statements |
| for the year ended 31st May 2018 |
| 1. | STATUTORY INFORMATION |
| Graham Walker Limited is a |
| 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 |
| Significant judgements and estimates |
| Estimates and judgements are continually evaluated and are based on historical experience and other factors, |
| including expectations of future events that are believed to be reasonable under the circumstances. |
| The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying |
| amount of assets and liabilities within the next financial year are: |
| - The useful economic life of tangible fixed assets |
| - The fair value of investment property |
| - Stock provisions. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
| value added tax and other sales taxes. |
| Tangible fixed assets |
| Tangible fixed assets under the cost model, other than investment properties, are stated at historical cost less |
| accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is |
| directly attributable to bringing the asset to the location and condition necessary for it to be capable of |
| operating in the manner intended by management. |
| Repairs and maintenance are charged to profit or loss during the period in which they are incurred. |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful |
| life. |
| Freehold property - land - nil and buildings - 2% on cost |
| Improvements to property - 10% on reducing balance |
| Plant and machinery - 20% on reducing balance |
| Fixtures and fittings - 25% on reducing balance |
| Motor vehicles - 25% on reducing balance |
| 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. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and |
| slow moving items. |
| GRAHAM WALKER LIMITED (REGISTERED NUMBER: 01212937) |
| Notes to the Financial Statements - continued |
| for the year ended 31st May 2018 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| Trade debtors, trade creditors, directors loans (being repayable on demand) and inter company loans (being |
| repayable on demand) are measured at the undiscounted amount of the cash or other consideration expected |
| to be paid or received. |
| 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. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's |
| pension scheme are charged to profit or loss in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| GRAHAM WALKER LIMITED (REGISTERED NUMBER: 01212937) |
| Notes to the Financial Statements - continued |
| for the year ended 31st May 2018 |
| 4. | TANGIBLE FIXED ASSETS |
| Improvements |
| Freehold | to | Plant and |
| property | property | machinery |
| £ | £ | £ |
| COST |
| At 1st June 2017 |
| Additions |
| At 31st May 2018 |
| DEPRECIATION |
| At 1st June 2017 |
| Charge for year |
| At 31st May 2018 |
| NET BOOK VALUE |
| At 31st May 2018 |
| At 31st May 2017 |
| Fixtures |
| and | Motor |
| fittings | vehicles | Totals |
| £ | £ | £ |
| COST |
| At 1st June 2017 |
| Additions |
| At 31st May 2018 |
| DEPRECIATION |
| At 1st June 2017 |
| Charge for year |
| At 31st May 2018 |
| NET BOOK VALUE |
| At 31st May 2018 |
| At 31st May 2017 |
| GRAHAM WALKER LIMITED (REGISTERED NUMBER: 01212937) |
| Notes to the Financial Statements - continued |
| for the year ended 31st May 2018 |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1st June 2017 |
| and 31st May 2018 |
| NET BOOK VALUE |
| At 31st May 2018 |
| At 31st May 2017 |
| Investment properties are revalued annually by the directors. The directors suggest there to be no material |
| difference between the original cost of £411,877 and their valuation of investment properties at 31st May |
| 2016. |
| 6. | STOCKS |
| 2018 | 2017 |
| £ | £ |
| Stocks |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| Directors' current accounts | - | 238,920 |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Amounts owed to group undertakings |
| Taxation and social security |
| Other creditors |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Bank loans |
| GRAHAM WALKER LIMITED (REGISTERED NUMBER: 01212937) |
| Notes to the Financial Statements - continued |
| for the year ended 31st May 2018 |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2018 | 2017 |
| £ | £ |
| Bank overdraft |
| Bank loans |
| 11. | CONTINGENT LIABILITIES |
| The company has entered into a cross guarantee to secure the bank borrowings of G Walker Properties Limited. |
| At the balance sheet date the liability under this guarantee was £2,693,127 (2017 - £3,876,736). |
| 12. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to a director subsisted during the years ended 31st May 2018 and |
| 31st May 2017: |
| 2018 | 2017 |
| £ | £ |
| Balance outstanding at start of year |
| Amounts advanced |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year |
| 13. | RELATED PARTY DISCLOSURES |
| During the year a management charge of £23,914 (2017 - £24,385) was receivable from G. Walker Properties |
| Ltd, a company in which G S Walker is also a director and shareholder. |
| Included in creditors is the sum of £813,187 (2017 - £1,243,774) due to G. Walker Properties Ltd, a company in |
| which G S Walker is also director and shareholder. |
| Included in debtors is the sum of £405 (2017 - £405) due from G & M Walker Ltd, the ultimate parent company. |
| 14. | ULTIMATE PARENT COMPANY |
| G & M Walker Ltd is regarded by the directors as being the ultimate parent company of Graham Walker |
| Limited. The registered office of G & M Walker Ltd is Unit 28 Bumpers Lane, Sealand Road Industrial Estate, |
| Chester, CH1 4NS. |