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REGISTERED NUMBER: SC732257 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

Walker Dairying Limited

Walker Dairying Limited (Registered number: SC732257)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Walker Dairying Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr R C Walker
Mr G J Walker





REGISTERED OFFICE: Lakehead
Closeburn
Dumfries & Galloway
DG3 5HP





REGISTERED NUMBER: SC732257 (Scotland)





ACCOUNTANTS: Benson Accountants
Wiza House
Station Road
Wigton
Cumbria
CA7 9BA

Walker Dairying Limited (Registered number: SC732257)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 21,381 14,999

CURRENT ASSETS
Debtors 5 583,042 453,562
Cash in hand 160 -
583,202 453,562
CREDITORS
Amounts falling due within one year 6 245,640 156,656
NET CURRENT ASSETS 337,562 296,906
TOTAL ASSETS LESS CURRENT LIABILITIES 358,943 311,905

CREDITORS
Amounts falling due after more than one
year

7

(400,000

)

(367,500

)

PROVISIONS FOR LIABILITIES (4,062 ) -
NET LIABILITIES (45,119 ) (55,595 )

RESERVES
Retained earnings (45,119 ) (55,595 )
(45,119 ) (55,595 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

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.

Walker Dairying Limited (Registered number: SC732257)

Balance Sheet - continued
31 December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 May 2024 and were signed on its behalf by:




Mr R C Walker - Director



Mr G J Walker - Director


Walker Dairying Limited (Registered number: SC732257)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Walker Dairying Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 15% on reducing balance

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.

Current or deferred taxation assets and liabilities are not discounted.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
The company has traded at a loss in the period to 31 December 2022 due to pre-trading costs. The company entered into a contract farming agreement at 01 January 2023 and having considered the expectations and intentions for the next twelve months and the availability of working capital, the company is a going concern and the accounts are prepared on this basis.

Walker Dairying Limited (Registered number: SC732257)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1 January 2023 16,595
Additions 10,155
At 31 December 2023 26,750
DEPRECIATION
At 1 January 2023 1,596
Charge for year 3,773
At 31 December 2023 5,369
NET BOOK VALUE
At 31 December 2023 21,381
At 31 December 2022 14,999

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 46,654 -
Other debtors 536,388 453,562
583,042 453,562

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts 110,867 117,806
Trade creditors 128,225 36,114
Taxation and social security 1,807 1,736
Other creditors 4,741 1,000
245,640 156,656

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans 400,000 367,500

Walker Dairying Limited (Registered number: SC732257)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank overdrafts 110,867 117,806
Bank loans 400,000 367,500
510,867 485,306

9. RELATED PARTY DISCLOSURES

Other creditors comprises of a loan from Lakehead Dairying Limited, a company under common control, there is no formal written loan agreement, however the directors have confirmed that there is no intention for the loan to be called in. At the balance sheet date Walker Dairying Limited owed Lakehead Dairying Limited £3,641. Interest is not currently being charged, however this will be reviewed in the future.

Included in other debtors are amounts owed from businesses also under common control of the directors. At the balance sheet date the balances on these loans stood at £528,199 (2022 - £477,778).