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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2018 |
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WALKER MANAGEMENT LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2018 |
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FOR |
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WALKER MANAGEMENT LIMITED |
WALKER MANAGEMENT LIMITED (REGISTERED NUMBER: 01266089) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 August 2018 |
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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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WALKER MANAGEMENT LIMITED |
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COMPANY INFORMATION |
for the Year Ended 31 August 2018 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
54 Sun Street |
Waltham Abbey |
Essex |
EN9 1EJ |
WALKER MANAGEMENT LIMITED (REGISTERED NUMBER: 01266089) |
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BALANCE SHEET |
31 August 2018 |
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2018 | 2017 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 6 | ( |
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NET CURRENT (LIABILITIES)/ASSETS | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
7 |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Share premium |
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Capital redemption reserve |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
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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. |
WALKER MANAGEMENT LIMITED (REGISTERED NUMBER: 01266089) |
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BALANCE SHEET - continued |
31 August 2018 |
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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 Board of Directors on
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WALKER MANAGEMENT LIMITED (REGISTERED NUMBER: 01266089) |
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NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 August 2018 |
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1. | STATUTORY INFORMATION |
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Walker Management Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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The presentation currency of the financial statement is the Pound Sterling (£) which is the functional currency of |
the company and rounded to the nearest £. |
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The significant accounting policies applied in the preparation of these financial statements are set out below. |
These policies have been consistently applied to all years presented unless otherwise stated. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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In accordance with the principles of revenue recognition as stated in UITF 40 and application note G of |
Financial Reporting Standard 5, income is recognised as the right to consideration is obtained through |
performance of contractual obligations. |
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Tangible fixed assets |
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Improvements to property | - |
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Fixtures and fittings | - |
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Computer equipment | - |
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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 balance sheet 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 balance |
sheet 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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Pension costs and other post-retirement benefits |
The company operates defined pension contribution and executive schemes on behalf of the company's directors |
and certain staff members. The pension charge represents the amount payable by the company to the schemes |
during the year. |
WALKER MANAGEMENT LIMITED (REGISTERED NUMBER: 01266089) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 August 2018 |
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2. | ACCOUNTING POLICIES - continued |
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Debtors and creditors receivable/payable within one year |
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at |
transaction price. Any losses arising from impairment are recognised in the profit and loss account in other |
administrative expenses. |
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Trading outlook |
The company meets its day to day working capital requirements through an overdraft facility and managing |
debtors and creditors. The company has operated consistently within this facility and the company directors do |
not have any reason to believe that the facility will not be renewed on the next review date in March 2020. The |
company has a range of long-established suppliers and client relationships and the directors believe that the |
company is well placed to manage its business risks successfully despite the current uncertain economic outlook. |
Also during this last financial year the company incurred some one-off exceptional costs relating to an office |
move and marketing events which have contributed to the trading loss reported for the year. However, after |
making enquiries and assessing company trading forecasts, the directors have a reasonable expectation that the |
company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, |
they continue to adopt the going concern basis in preparing the annual report and financial statements. |
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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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4. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | and | Computer |
property | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 September 2017 |
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Additions |
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At 31 August 2018 |
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DEPRECIATION |
At 1 September 2017 |
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Charge for year |
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At 31 August 2018 |
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NET BOOK VALUE |
At 31 August 2018 |
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At 31 August 2017 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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Other debtors |
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Due from Walker Richardson | 49 | 49 |
Tax |
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Prepayments |
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WALKER MANAGEMENT LIMITED (REGISTERED NUMBER: 01266089) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 August 2018 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Amounts owed to participating interests | 12,000 | - |
Corporation tax |
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Social security and other taxes |
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VAT | 51,631 | 58,947 |
Other creditors |
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Directors' current accounts | 308 | 308 |
Accrued expenses |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2018 | 2017 |
£ | £ |
Bank loans - 1-2 years |
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Bank loans - 2-5 years |
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8. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
2018 | 2017 |
£ | £ |
Within one year |
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Between one and five years |
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In more than five years |
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9. | SECURED DEBTS |
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The following secured debts are included within creditors: |
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2018 | 2017 |
£ | £ |
Bank loans |
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The bank loan has been secured by way of fixed and floating charge over the assets of the company. |
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10. | OTHER FINANCIAL COMMITMENTS |
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On 12 April 2016 the company contracted to complete the purchase of Mr PJ Hurworth's 290 shares amounting |
to 82.9% of the company's share capital as follows: 12 April 2016 for £225,000; 1 September 2016 for £50,000; |
1 September 2017 for £50,000; 1 September 2018 for £25,000. |
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11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
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Two of the company's directors, Mr M.P. Andrews and Mr B.A. Burlikowski, have been a guarantee to the |
company's bankers to secure all liabilities of the company limited to £50,000. |