REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 JULY 2021 |
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FOR |
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WALLER ASSOCIATES LIMITED |
TRADING AS |
WALLER BUILDING AND GLAZING SERVICES |
REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 31 JULY 2021 |
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FOR |
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WALLER ASSOCIATES LIMITED |
TRADING AS |
WALLER BUILDING AND GLAZING SERVICES |
WALLER ASSOCIATES LIMITED (REGISTERED NUMBER: 04027244) |
TRADING AS WALLER BUILDING AND GLAZING SERVICES |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2021 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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WALLER ASSOCIATES LIMITED |
TRADING AS WALLER BUILDING AND GLAZING SERVICES |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31 JULY 2021 |
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DIRECTORS: |
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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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Chartered Accountants |
12 Romney Place |
Maidstone |
Kent |
ME15 6LE |
WALLER ASSOCIATES LIMITED (REGISTERED NUMBER: 04027244) |
TRADING AS WALLER BUILDING AND GLAZING SERVICES |
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BALANCE SHEET |
31 JULY 2021 |
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2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Stock and work in progress | 6 |
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Debtors | 7 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 8 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one year | 9 | ( |
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PROVISIONS FOR LIABILITIES | 11 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 12 |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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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. |
WALLER ASSOCIATES LIMITED (REGISTERED NUMBER: 04027244) |
TRADING AS WALLER BUILDING AND GLAZING SERVICES |
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BALANCE SHEET - continued |
31 JULY 2021 |
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In accordance with Section 444 of the Companies Act 2006, the Profit and loss account has not been delivered. |
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The financial statements were approved by the Board of Directors and authorised for issue on
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WALLER ASSOCIATES LIMITED (REGISTERED NUMBER: 04027244) |
TRADING AS WALLER BUILDING AND GLAZING SERVICES |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 JULY 2021 |
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1. | STATUTORY INFORMATION |
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Waller Associates Limited is a
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents net invoiced sales, excluding value added tax. |
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Tangible fixed assets |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Stocks and work in progress |
Stock and work in progress and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
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Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stock and work in progress to their present location and condition. |
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Research and development |
Expenditure on research and development is written off in the year in which it is incurred. |
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Hire purchase and leasing commitments |
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
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The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
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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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WALLER ASSOCIATES LIMITED (REGISTERED NUMBER: 04027244) |
TRADING AS WALLER BUILDING AND GLAZING SERVICES |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2021 |
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Plant and | and | Motor |
machinery | fittings | vehicles | Totals |
£ | £ | £ | £ |
COST |
At 1 August 2020 |
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Additions |
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Disposals |
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At 31 July 2021 |
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DEPRECIATION |
At 1 August 2020 |
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Charge for year |
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Eliminated on disposal |
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At 31 July 2021 |
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NET BOOK VALUE |
At 31 July 2021 |
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At 31 July 2020 |
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Fixed assets, included in the above, which are held under finance leases are as follows: |
Motor |
vehicles |
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COST |
At 1 August 2020 |
and 31 July 2021 |
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DEPRECIATION |
At 1 August 2020 |
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Charge for year |
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At 31 July 2021 |
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NET BOOK VALUE |
At 31 July 2021 |
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At 31 July 2020 |
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WALLER ASSOCIATES LIMITED (REGISTERED NUMBER: 04027244) |
TRADING AS WALLER BUILDING AND GLAZING SERVICES |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2021 |
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5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
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COST |
At 1 August 2020 |
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Disposals | ( |
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At 31 July 2021 |
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NET BOOK VALUE |
At 31 July 2021 |
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At 31 July 2020 |
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6. | STOCK AND WORK IN PROGRESS |
2021 | 2020 |
£ | £ |
Stocks |
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Work-in-progress |
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Stock and work in progress is valued at the lower of cost and net realisable value. |
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7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
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Amounts owed by associates |
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Prepayments and accrued income |
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The amounts owed by associated undertakings relates to a loan to ALSK Holdings Limited amounting to £25,128 (2020: £Nil) and a loan to Waller Services Limited amounting to £73,000 (2020: £Nil).. |
WALLER ASSOCIATES LIMITED (REGISTERED NUMBER: 04027244) |
TRADING AS WALLER BUILDING AND GLAZING SERVICES |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2021 |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts (see note 10) |
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Finance leases |
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Trade creditors |
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Amounts owed to group undertakings |
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Tax |
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Social security and other taxes |
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VAT | 5,558 | 34,009 |
Other creditors |
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Directors' current accounts | 150,581 | 182,318 |
Accruals and deferred income |
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Other creditors consists of pension contributions paid after the year end of £1,893 (2020: £1,950). |
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The amount owed to group undertakings relates to amounts due to SPME Limited; which is the parent company. |
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9. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2021 | 2020 |
£ | £ |
Bank loans (see note 10) |
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Finance leases |
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The bank loan is an unsecured, interest free loan from Kent County Council under the Tiger Business Support Scheme. |
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10. | LOANS |
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An analysis of the maturity of loans is given below: |
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2021 | 2020 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank loans |
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Amounts falling due between one and two years: |
Bank loans - 1-2 years |
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Amounts falling due between two and five years: |
Bank loans - 2-5 years |
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WALLER ASSOCIATES LIMITED (REGISTERED NUMBER: 04027244) |
TRADING AS WALLER BUILDING AND GLAZING SERVICES |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 JULY 2021 |
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11. | PROVISIONS FOR LIABILITIES |
2021 | 2020 |
£ | £ |
Deferred tax | 21,701 | 15,477 |
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Deferred tax |
£ |
Balance at 1 August 2020 |
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Charge to Profit and loss account during year |
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Balance at 31 July 2021 |
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12. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2021 | 2020 |
value: | £ | £ |
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Ordinary | £1 | 306 | 306 |
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Ordinary A | £1 | 5 | 5 |
311 | 311 |
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13. | RELATED PARTY DISCLOSURES |
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During the year the company paid rent for the business premises amounting to £4,800 (2020: £9,600) to Mrs J Waller, who is a company director and £4,800 (2020: £Nil) to Waller Services Limited (an associated company). |
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Additionally a loan was advanced to Waller Services Limited amounting to £73,000 and which remained outstanding at the year end, and is included within debtors (2020: £Nil). |
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Mr A Waller holds 75% of the shares in ALSK Holdings Limited. He is also a company director of; and holds 33% of the shares in; Waller Associates Limited. At the year end there was a balance due to Waller Associates Limited by ALSK Holdings Limited amounting to £25,128 (2020: £Nil), which is included in debtors. |
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SPME Limited holds 67% of the shares in Waller Associates Limited. During the year, dividends amounting to £30,000 (2020: £30,000) were paid to SPME Limited. At the year end there was a balance due from Waller Associates Limited amounting to £58,189 (2020: £83,317) which is included in creditors. |
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The directors consider these transactions to have taken place on an open market value basis. |
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14. | ULTIMATE CONTROLLING PARTY |
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The controlling party is SPME Limited. |
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The ultimate controlling party is
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