REGISTERED NUMBER:
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WALTON INCORPORATED LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MAY 2021 |
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REGISTERED NUMBER:
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WALTON INCORPORATED LIMITED |
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 MAY 2021 |
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WALTON INCORPORATED LIMITED (REGISTERED NUMBER: 05450535) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2021 |
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Page |
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Company Information | 1 |
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Statement of Financial Position | 2 | to | 3 |
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Notes to the Financial Statements | 4 | to | 7 |
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WALTON INCORPORATED LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 MAY 2021 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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14 London Road |
Newark |
Nottinghamshire |
NG24 1TW |
WALTON INCORPORATED LIMITED (REGISTERED NUMBER: 05450535) |
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STATEMENT OF FINANCIAL POSITION |
31 MAY 2021 |
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2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Property, plant and equipment | 4 |
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Investment property | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 10 |
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Revaluation reserve | 11 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his 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. |
WALTON INCORPORATED LIMITED (REGISTERED NUMBER: 05450535) |
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STATEMENT OF FINANCIAL POSITION - continued |
31 MAY 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director and authorised for issue on
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WALTON INCORPORATED LIMITED (REGISTERED NUMBER: 05450535) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 MAY 2021 |
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1. | STATUTORY INFORMATION |
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Walton Incorporated Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Revenue |
Revenue represents rents payable to the company. |
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Property, plant and equipment |
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Plant and machinery etc | - |
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Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
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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. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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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. |
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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. |
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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. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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WALTON INCORPORATED LIMITED (REGISTERED NUMBER: 05450535) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2021 |
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4. | PROPERTY, PLANT AND EQUIPMENT |
Plant and |
machinery |
etc |
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COST |
At 1 June 2020 |
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Additions |
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At 31 May 2021 |
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DEPRECIATION |
At 1 June 2020 |
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Charge for year |
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At 31 May 2021 |
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NET BOOK VALUE |
At 31 May 2021 |
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At 31 May 2020 |
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5. | INVESTMENT PROPERTY |
Total |
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FAIR VALUE |
At 1 June 2020 |
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Disposals | ( |
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Revaluations | 28,500 |
At 31 May 2021 |
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NET BOOK VALUE |
At 31 May 2021 |
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At 31 May 2020 |
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Fair value at 31 May 2021 is represented by: |
£ |
Valuation in 2012 | (31,848 | ) |
Valuation in 2013 | (30,000 | ) |
Valuation in 2014 | 384,288 |
Valuation in 2015 | 85,407 |
Valuation in 2016 | 156,101 |
Valuation in 2017 | 74,087 |
Valuation in 2018 | 244,892 |
Valuation in 2019 | 72,047 |
Valuation in 2020 | 431,977 |
Valuation in 2021 | 19,272 |
Cost | 3,907,277 |
5,313,500 |
WALTON INCORPORATED LIMITED (REGISTERED NUMBER: 05450535) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2021 |
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5. | INVESTMENT PROPERTY - continued |
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The directors revalued the investment property with regard to market based evidence for similar properties sold in the local area. |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts |
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Taxation and social security |
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Other creditors |
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8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2021 | 2020 |
£ | £ |
Bank loans |
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10. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2021 | 2020 |
value: | £ | £ |
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'A' Ordinary | £1 | 100 | 100 |
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'B' Ordinary | £1 | 1 | 1 |
101 | 101 |
WALTON INCORPORATED LIMITED (REGISTERED NUMBER: 05450535) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 MAY 2021 |
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11. | RESERVES |
Revaluation |
reserve |
£ |
At 1 June 2020 |
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Property revaluation | 28,500 |
Deferred Tax | (3,662 | ) |
Realisation of revaluation surplus | (9,227 | ) |
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At 31 May 2021 |
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The aggregate surplus on re-measurement of investment properties, net of associated deferred tax, is transferred to a separate non-distributable revaluation reserve in order to assist with the identification of profits available for distribution. |