Walpole Investments Limited Filleted accounts for Companies House (small and micro)

WALPOLE INVESTMENTS LIMITED - Company Information

0 false false false false false false false false false true false false false false false false No description of principal activity 2021-10-01 Sage Accounts Production Advanced 2021 - FRS102_2021 1,661,028 357,014 1,304,014 1,304,014 1,661,028 619,465 40,567 578,898 578,898 619,465 xbrli:pure xbrli:shares iso4217:GBP 03385242 2021-10-01 2022-09-30 03385242 2022-09-30 03385242 2021-09-30 03385242 2021-09-30 03385242 bus:RegisteredOffice 2021-10-01 2022-09-30 03385242 bus:LeadAgentIfApplicable 2021-10-01 2022-09-30 03385242 bus:Director1 2021-10-01 2022-09-30 03385242 bus:CompanySecretary1 2021-10-01 2022-09-30 03385242 core:WithinOneYear 2022-09-30 03385242 core:WithinOneYear 2021-09-30 03385242 core:LandBuildings 2021-10-01 2022-09-30 03385242 core:ShareCapital 2022-09-30 03385242 core:ShareCapital 2021-09-30 03385242 core:RevaluationReserve 2022-09-30 03385242 core:RevaluationReserve 2021-09-30 03385242 core:RetainedEarningsAccumulatedLosses 2022-09-30 03385242 core:RetainedEarningsAccumulatedLosses 2021-09-30 03385242 core:CostValuation core:Non-currentFinancialInstruments 2021-09-30 03385242 core:Non-currentFinancialInstruments core:RevaluationsIncreaseDecreaseInInvestments 2022-09-30 03385242 core:CostValuation core:Non-currentFinancialInstruments 2022-09-30 03385242 core:Non-currentFinancialInstruments 2022-09-30 03385242 core:Non-currentFinancialInstruments 2021-09-30 03385242 core:LandBuildings 2022-09-30 03385242 core:LandBuildings 2021-09-30 03385242 core:LandBuildings 2021-09-30 03385242 bus:SmallEntities 2021-10-01 2022-09-30 03385242 bus:AuditExemptWithAccountantsReport 2021-10-01 2022-09-30 03385242 bus:FullAccounts 2021-10-01 2022-09-30 03385242 bus:SmallCompaniesRegimeForAccounts 2021-10-01 2022-09-30 03385242 bus:PrivateLimitedCompanyLtd 2021-10-01 2022-09-30

COMPANY REGISTRATION NUMBER: 03385242

WALPOLE INVESTMENTS LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 September 2022

WALPOLE INVESTMENTS LIMITED

FINANCIAL STATEMENTS

YEAR ENDED 30 SEPTEMBER 2022

Contents	Page

Officers and professional advisers	1

Statement of financial position	2

Notes to the financial statements	4

WALPOLE INVESTMENTS LIMITED

OFFICERS AND PROFESSIONAL ADVISERS

Director	J A Whitehorn

Company secretary	H Whitehorn

Registered office	Lynton House
	7-12 Tavistock Square
	London
	WC1H 9BQ

Accountants	BSG Valentine (UK) LLP
	Chartered Accountants
	Lynton House
	7 - 12 Tavistock Square
	London
	WC1H 9BQ

WALPOLE INVESTMENTS LIMITED

STATEMENT OF FINANCIAL POSITION

30 September 2022

	2022		2021
Note	£	£	£	£

FIXED ASSETS

Tangible assets	4	1,304,014	1,661,028
Investments	5	578,898	619,465
		------------	------------
		1,882,912	2,280,493

CURRENT ASSETS

Debtors	6	614,957	578,166
Cash at bank and in hand		1,157,693	639,820
		------------	------------
		1,772,650	1,217,986

CREDITORS: amounts falling due within one year	7	31,861		32,419
		------------		------------
NET CURRENT ASSETS			1,740,789		1,185,567
			------------		------------
TOTAL ASSETS LESS CURRENT LIABILITIES			3,623,701		3,466,060

PROVISIONS

Taxation including deferred tax	160,683	143,839
	------------	------------
NET ASSETS	3,463,018	3,322,221
	------------	------------

CAPITAL AND RESERVES

Called up share capital	2	2
Revaluation reserve	642,733	643,019
Profit and loss account	2,820,283	2,679,200
	------------	------------
SHAREHOLDERS FUNDS	3,463,018	3,322,221
	------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

For the year ending 30 September 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

WALPOLE INVESTMENTS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

30 September 2022

These financial statements were approved by the board of directors and authorised for issue on 19 June 2023 , and are signed on behalf of the board by:

J A Whitehorn
Director

Company registration number: 03385242

WALPOLE INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 30 SEPTEMBER 2022

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Lynton House, 7-12 Tavistock Square, London, WC1H 9BQ.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in associates

Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.

4. Tangible assets

	Land and buildings
	£
Cost
At 1 October 2021	1,661,028
Disposals	( 357,014)
	------------
At 30 September 2022	1,304,014
	------------
Depreciation
At 1 October 2021 and 30 September 2022	–
	------------
Carrying amount
At 30 September 2022	1,304,014
	------------
At 30 September 2021	1,661,028
	------------

5. Investments

	Other investments other than loans
	£
Cost
At 1 October 2021	619,465
Revaluations	( 40,567)
	---------
At 30 September 2022	578,898
	---------
Impairment
At 1 October 2021 and 30 September 2022	–
	---------

Carrying amount
At 30 September 2022	578,898
	---------
At 30 September 2021	619,465
	---------

6. Debtors

	2022	2021
	£	£
Other debtors	614,957	578,166
	---------	---------

7. Creditors: amounts falling due within one year

	2022	2021
	£	£
Corporation tax	30,860	30,619
Other creditors	1,001	1,800
	--------	--------
	31,861	32,419
	--------	--------