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REGISTERED NUMBER: 05649769 (England and Wales)




















Financial Statements

for the Year Ended 31 March 2024

for

Walkerpack Limited

Walkerpack Limited (Registered number: 05649769)






Contents of the Financial Statements
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3 to 8


Walkerpack Limited

Company Information
for the year ended 31 March 2024







DIRECTORS: Mr L S L Moss
Mr L R Clarke
Mrs J Moss
Mrs C A Clarke
Mr R P Farey
Mr N R Holmes
Mr S C Tiley





REGISTERED OFFICE: Pacioli House
9 Brookfield
Duncan Close
Northampton
Northamptonshire
NN3 6WL





REGISTERED NUMBER: 05649769 (England and Wales)





AUDITORS: Clifford Roberts
Chartered Accountants &
Statutory Auditors
Pacioli House
9 Brookfield
Duncan Close
Northampton
Northamptonshire
NN3 6WL

Walkerpack Limited (Registered number: 05649769)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 258,800 173,404
Investments 5 320 320
259,120 173,724

CURRENT ASSETS
Stocks 574,026 608,891
Debtors 6 5,243,717 3,739,451
Cash at bank and in hand 6,948 8,309
5,824,691 4,356,651
CREDITORS
Amounts falling due within one year 7 5,011,222 3,444,042
NET CURRENT ASSETS 813,469 912,609
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,072,589

1,086,333

CREDITORS
Amounts falling due after more than one
year

8

(72,707

)

(136,421

)

PROVISIONS FOR LIABILITIES (64,700 ) (43,351 )
NET ASSETS 935,182 906,561

CAPITAL AND RESERVES
Called up share capital 12 200 200
Retained earnings 934,982 906,361
SHAREHOLDERS' FUNDS 935,182 906,561

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 August 2024 and were signed on its behalf by:




Mr S C Tiley - Director



Mr R P Farey - Director


Walkerpack Limited (Registered number: 05649769)

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Walkerpack Limited is a private company, limited by shares, incorporated and domiciled in England. The company's registered number and registered office address can be found on the Company Information Page.

The principal place of business is 133 Liliput Road, Brackmills Industrial Estate, Northampton, Northamptonshire, NN4 7DT. The company does operate from a number of different sites but this is deemed to be the principal place of business.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with applicable United Kingdom accounting standards, including Financial Reporting Standard 102 section 1A - "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102 section 1A") and with the Companies Act 2006. The financial statements have been prepared on the historical cost basis.

The financial statements are presented in Sterling (£) and cover the year to the 31st March each year.

Going Concern
At the time of approving the financial statements the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Preparation of consolidated financial statements
The financial statements contain information about Walkerpack Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates and value added tax. Revenue is recognised on completion of the service or sale of the product in question irrespective of whether a physical invoice has been raised to ensure the sale is matched against the cost incurred and included in the correct period.

Rents receivable
Rents receivable is measured at the fair value of consideration received or receivable, excluding discounts, rebates and value added tax. Rental income from property leased out under operating leases is recognised in the statement of comprehensive income on a straight-line basis over the term of the lease.

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 - 20% on cost
Motor vehicles - 20% on cost and 10% on cost
Computer equipment - 20% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Walkerpack Limited (Registered number: 05649769)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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.

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.

Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method unless the effect of discounting would be immaterial, in which case they are stated at cost.

Interest bearing borrowings
Interest bearing borrowings are recognised initially at fair value less attributable transaction costs. Subsequent to initial recognition, interest bearing borrowings are stated at amortised cost with any difference between the amount initially recognised and redemption value being recognised in the statement of comprehensive income over the period of the borrowings, together with any interest and fees payable, using the effective interest method.

Leasing commitments
Rentals under operating leases are charged on a straight line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight line basis over the lease term.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 176 (2023 - 146 ) .

Walkerpack Limited (Registered number: 05649769)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 587,444 13,500 284,987 885,931
Additions 160,361 - 10,789 171,150
At 31 March 2024 747,805 13,500 295,776 1,057,081
DEPRECIATION
At 1 April 2023 546,908 10,800 154,819 712,527
Charge for year 45,486 2,700 37,568 85,754
At 31 March 2024 592,394 13,500 192,387 798,281
NET BOOK VALUE
At 31 March 2024 155,411 - 103,389 258,800
At 31 March 2023 40,536 2,700 130,168 173,404

5. FIXED ASSET INVESTMENTS
Shares in
group
undertaking
£   
COST
At 1 April 2023
and 31 March 2024 320
NET BOOK VALUE
At 31 March 2024 320
At 31 March 2023 320

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 3,784,726 2,291,818
Amounts owed by group undertakings 536,230 536,230
Other debtors 922,761 911,403
5,243,717 3,739,451

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 1,711,682 861,836
Trade creditors 2,033,602 1,617,424
Amounts owed to group undertakings 320 320
Taxation and social security 600,239 415,213
Other creditors 665,379 549,249
5,011,222 3,444,042

Walkerpack Limited (Registered number: 05649769)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 72,707 136,421

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 1,034,289 1,014,396
Between one and five years 3,246,491 3,514,071
In more than five years 1,197,468 1,796,202
5,478,248 6,324,669

The company has sublet a proportion of the property, annual rental income totalling £136,400 per annum, the total length of the lease is 9 years and 7 months with a break clause on the 3rd, 5th and 7th anniversaries of the lease date.

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 1,647,968 801,223
Bank loans 136,421 197,034
1,784,389 998,257

At the balance sheet date Lloyds Bank PLC held a debenture in relation to the companies banking facility by way of a fixed and floating charge. Lloyds Bank Commercial Finance Limited have a charge in relation to the invoice financing agreement by way of a fixed and floating charge.

Walkerpack Limited (Registered number: 05649769)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

11. FINANCIAL RISK MANAGEMENT

The company has some exposure to credit, liquidity and cash flow interest rate risks, These risks are limited by the company's financial management policies and practices described below.

Foreign currency risk
The company has very limited exposure to foreign currency risks as most of the company's sales and purchases are denominated in sterling. The company manages a Euro (€) account to help mitigate any risk it does experience.

Credit risk
The company has limited exposure to credit risks, good trading and a positive balance sheet means that credit is not difficult to come by. The company's exposure and it's customers credit worthiness is continually monitored so that any potential problems are detected at an early stage.

Liquidity risk
The directors have ultimate responsibility for liquidity risk management in maintaining adequate reserves and banking facilities. The only significant non-derivative financial liabilities remaining at the reporting date are the overdraft on the bank account and factoring facility which the company uses for liquidity management.

Market risk
There is a market risk associated with the fluctuation in demand for the products and services provided. Most of this is mitigated by monitoring the markets and acting accordingly.

The company holds no derivative financial instruments at the year end.

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid
Number: Class: Nominal 2023 2022
Value: £ £

200 Ordinary Shares £1 200 -
- Ordinary A Shares £1 - 60
- Ordinary B Shares £1 - 60
- Ordinary C Shares £1 - 40
- Ordinary D Shares £1 - 40
200 200

During the year all share classes were redesignated as Ordinary Shares.

13. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Adam Billingham BA (Hons) BFP FCA (Senior Statutory Auditor)
for and on behalf of Clifford Roberts

14. CAPITAL COMMITMENTS

There were no capital commitments at the balance sheet date of the 31st March 2024 or the 31st March 2023.

15. RELATED PARTY DISCLOSURES

At the balance sheet date there was an inter-company loan due from Walkerpack Group Limited of £536,230 (2023: £536,230). This is all repayable on demand and disclosed as less than 1 year.

Walkerpack Limited (Registered number: 05649769)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

16. ULTIMATE CONTROLLING PARTY

Walkerpack Group Limited is the ultimate controlling party of Walkerpack Limited. Walkerpack Group Limited is a private company incorporated in England. The company's registered office address is Pacioli House 9 Brookfield, Duncan Close, Northampton, NN3 6WL.