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Registration number: 06193991

A and D Walker Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2016
 

A D Betley, FCA
AIMS - Accountants for Business
27 Redwood Glade
Leighton Buzzard
Bedfordshire
LU7 3JT

 

A and D Walker Limited
Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Profit and Loss Account

4

Balance Sheet

5

Notes to the Financial Statements

6 to 9

 

A and D Walker Limited
Company Information

Chairman

Mr AJ Walker

Director

Mrs DH Walker

Company secretary

Mr Anthony John Walker

Registered office

27 Redwood Glade
Leighton Buzzard
Bedfordshire
LU7 3JT

Bankers

Alliance & Leicester Commercial Bank
BBAM
Bridle Road
United Kingdom
Bootle
Merseyside
GIR 0AA

Accountants

A D Betley, FCA
AIMS - Accountants for Business
27 Redwood Glade
Leighton Buzzard
Bedfordshire
LU7 3JT

 

A and D Walker Limited
Directors' Report for the Year Ended 31 March 2016

The directors present their report and the unaudited financial statements for the year ended 31 March 2016.

Directors of the company

The directors who held office during the year were as follows:

Mr AJ Walker - Chairman

Mrs DH Walker

Small company provisions

This report has been prepared in accordance with the small companies regime under the Companies Act 2006.

Approved by the Board on 14 September 2016 and signed on its behalf by:

.........................................
Mr AJ Walker
Chairman

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
A and D Walker Limited
for the Year Ended 31 March 2016

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of A and D Walker Limited for the year ended 31 March 2016 set out on pages 4 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.

This report is made solely to the Board of Directors of A and D Walker Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of A and D Walker Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than A and D Walker Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that A and D Walker Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of A and D Walker Limited. You consider that A and D Walker 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 accounts of A and D Walker 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 accounts.

......................................

A D Betley, FCA
AIMS - Accountants for Business
27 Redwood Glade
Leighton Buzzard
Bedfordshire
LU7 3JT

14 September 2016

 

A and D Walker Limited
Profit and Loss Account for the Year Ended 31 March 2016

   

Note

   

2016
£

   

2015
£

 

Turnover

 

   

29,063

   

27,941

 

Cost of sales

 

   

(380)

   

(1,015)

 

Gross profit

 

   

28,683

   

26,926

 

Administrative expenses

 

   

(40,128)

   

(34,634)

 

Operating loss

 

2

   

(11,445)

   

(7,708)

 

Other interest receivable and similar income

 

   

3

   

6

 

Loss on ordinary activities before taxation

 

   

(11,442)

   

(7,702)

 

Loss for the financial year

 

8

   

(11,442)

   

(7,702)

 

The notes on pages 6 to 9 form an integral part of these financial statements.
Page 4

 

A and D Walker Limited
(Registration number: 06193991)
Balance Sheet at 31 March 2016

   

Note

   

2016
£

   

2015
£

 

Fixed assets

 

             

Tangible fixed assets

 

4

   

603

   

1,254

 

Current assets

 

             

Debtors

 

5

   

1,017

   

700

 

Cash at bank and in hand

 

   

7,552

   

1,357

 
   

   

8,569

   

2,057

 

Creditors: Amounts falling due within one year

 

6

   

(32,518)

   

(15,215)

 

Net current liabilities

 

   

(23,949)

   

(13,158)

 

Net liabilities

 

   

(23,346)

   

(11,904)

 

Capital and reserves

 

             

Called up share capital

 

7

   

2

   

2

 

Profit and loss account

 

8

   

(23,348)

   

(11,906)

 

Shareholders' deficit

 

   

(23,346)

   

(11,904)

 

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2015).

For the year ending 31 March 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Approved and authorised for issue by the Board on 14 September 2016 and signed on its behalf by:

.........................................
Mr AJ Walker
Chairman

The notes on pages 6 to 9 form an integral part of these financial statements.
Page 5

 

A and D Walker Limited
Notes to the Financial Statements for the Year Ended 31 March 2016
......... continued

1

Accounting policies

Basis of preparation

The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Going concern

The financial statements have been prepared on a going concern basis.

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of the sale of goods and services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Depreciation method and rate

Office equipment

25% straight line basis

Deferred tax

Deferred tax is charged/credit to the profit and loss account.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2

Operating loss

Operating loss is stated after charging:

 

2016
£

   

2015
£

 

 

   

 

Depreciation of tangible fixed assets

 

651

   

708

 
 

A and D Walker Limited
Notes to the Financial Statements for the Year Ended 31 March 2016
......... continued

3

Directors' remuneration

The directors' remuneration for the year was as follows:

 

2016
£

   

2015
£

 

 

   

 

Remuneration (including benefits in kind)

 

36,485

   

34,511

 

4

Tangible fixed assets

   

Office equipment
£

   

Total
£

 

Cost or valuation

           

At 1 April 2015

 

3,962

   

3,962

 

Depreciation

           

At 1 April 2015

 

2,708

   

2,708

 

Charge for the year

 

651

   

651

 

At 31 March 2016

 

3,359

   

3,359

 

Net book value

           

At 31 March 2016

 

603

   

603

 

At 31 March 2015

 

1,254

   

1,254

 

5

Debtors

   

2016
£

   

2015
£

 
             

Trade debtors

 

1,017

   

-

 

Other debtors

 

-

   

700

 
   

1,017

   

700

 
 

A and D Walker Limited
Notes to the Financial Statements for the Year Ended 31 March 2016
......... continued

6

Creditors: Amounts falling due within one year

   

2016
£

   

2015
£

 
             

Other taxes and social security

 

2,302

   

117

 

Other creditors

 

30,216

   

15,098

 
   

32,518

   

15,215

 

7

Share capital

Allotted, called up and fully paid shares

 

2016

2015

   

No.

   

£

   

No.

   

£

 

Ordinary of £1 each

 

2

   

2

   

2

   

2

 
                         

8

Reserves

   

Profit and loss account
£

   

Total
£

 
             

At 1 April 2015

 

(11,906)

   

(11,906)

 
             

Loss for the year

 

(11,442)

   

(11,442)

 

At 31 March 2016

 

(23,348)

   

(23,348)

 

9

Related party transactions

Directors' advances and credits

 

2016
Advance/ Credit
£

2016
Repaid
£

2015
Advance/ Credit
£

2015
Repaid
£

Mr AJ Walker

Directors current account

30,217

-

15,098

-

         
         
 

A and D Walker Limited
Notes to the Financial Statements for the Year Ended 31 March 2016
......... continued

10

Control

The company is controlled by the directors who own 100% of the called up share capital.