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REGISTERED NUMBER: 00832101 (England and Wales)












Financial Statements

for the Year Ended 31 December 2023

for

Walker Humphrey Limited

Walker Humphrey Limited (Registered number: 00832101)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Walker Humphrey Limited

Company Information
for the year ended 31 December 2023







DIRECTORS: M W Humphrey
S A Humphrey
S Rennison
D Watson





REGISTERED OFFICE: Unit 15 Seafox Court
Sherburn in Elmet
Leeds
West Yorkshire
LS25 6PL





REGISTERED NUMBER: 00832101 (England and Wales)





AUDITORS: Beaumonts (Statutory Auditors)
8 Navigation Court
Calder Park
Wakefield
WF2 7BJ

Walker Humphrey Limited (Registered number: 00832101)

Statement of Financial Position
31 December 2023

31.12.23 31.12.22
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 338,471 7,000
Tangible assets 5 1,189,370 1,260,457
Investment property 6 225,000 225,000
1,752,841 1,492,457

CURRENT ASSETS
Stocks 2,051,413 1,478,494
Debtors 7 2,958,784 1,701,022
Cash at bank and in hand 404,904 304,934
5,415,101 3,484,450
CREDITORS
Amounts falling due within one year 8 4,458,026 2,252,680
NET CURRENT ASSETS 957,075 1,231,770
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,709,916

2,724,227

CREDITORS
Amounts falling due after more than one
year

9

(773,770

)

(944,675

)

PROVISIONS FOR LIABILITIES (110,043 ) (134,837 )
NET ASSETS 1,826,103 1,644,715

CAPITAL AND RESERVES
Called up share capital 6,000 6,000
Capital redemption reserve 4,000 4,000
Fair value reserve 11 193,992 193,992
Retained earnings 1,622,111 1,440,723
SHAREHOLDERS' FUNDS 1,826,103 1,644,715

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 15 November 2024 and were signed on its behalf by:




M W Humphrey - Director



S A Humphrey - Director


Walker Humphrey Limited (Registered number: 00832101)

Notes to the Financial Statements
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Walker Humphrey Limited is a private company, limited by shares , registered in England and Wales. 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 as modified by the revaluation of investment property.

Turnover
Turnover is measured at the amounts received or receivable, excluding discounts, rebates and value added tax in respect of bakery sundries.

Goodwill
Goodwill, being the amounts in connection with the acquisition of businesses, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Improvements to property - 15% on reducing balance
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Walker Humphrey Limited (Registered number: 00832101)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 35 (2022 - 32 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023 10,000
Additions 368,515
At 31 December 2023 378,515
AMORTISATION
At 1 January 2023 3,000
Charge for year 37,044
At 31 December 2023 40,044
NET BOOK VALUE
At 31 December 2023 338,471
At 31 December 2022 7,000

5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 January 2023 867,524 10,300 328,153
Additions - - 6,000
Disposals - - -
At 31 December 2023 867,524 10,300 334,153
DEPRECIATION
At 1 January 2023 93,122 2,758 167,486
Charge for year 17,350 1,131 41,042
Eliminated on disposal - - -
At 31 December 2023 110,472 3,889 208,528
NET BOOK VALUE
At 31 December 2023 757,052 6,411 125,625
At 31 December 2022 774,402 7,542 160,667

Walker Humphrey Limited (Registered number: 00832101)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

5. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2023 351,495 368,799 111,811 2,038,082
Additions 4,636 14,350 63,704 88,690
Disposals (11,940 ) (82,538 ) - (94,478 )
At 31 December 2023 344,191 300,611 175,515 2,032,294
DEPRECIATION
At 1 January 2023 184,697 259,591 69,971 777,625
Charge for year 42,697 28,521 20,010 150,751
Eliminated on disposal (9,815 ) (75,637 ) - (85,452 )
At 31 December 2023 217,579 212,475 89,981 842,924
NET BOOK VALUE
At 31 December 2023 126,612 88,136 85,534 1,189,370
At 31 December 2022 166,798 109,208 41,840 1,260,457

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 225,000
NET BOOK VALUE
At 31 December 2023 225,000
At 31 December 2022 225,000

The investment property has been valued at market value by the directors.



7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
as restated
£    £   
Trade debtors 2,297,370 1,460,950
Other debtors 661,414 240,072
2,958,784 1,701,022

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
as restated
£    £   
Bank loans and overdrafts 1,401,123 461,623
Hire purchase contracts 22,570 27,274
Trade creditors 2,280,255 1,524,555
Taxation and social security 269,914 144,633
Other creditors 484,164 94,595
4,458,026 2,252,680

Walker Humphrey Limited (Registered number: 00832101)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
as restated
£    £   
Bank loans 735,688 911,681
Hire purchase contracts 13,957 32,994
Other creditors 24,125 -
773,770 944,675

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 315,588 358,867

10. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
as restated
£    £   
Bank loans 894,787 1,052,780
Hire purchase contracts 36,527 60,268
Factor account 1,242,024 320,524
2,173,338 1,433,572

The bank loan and factor account are secured by fixed and floating charges over the assets of the company.

Hire purchase creditors are secured against the relevant assets financed.

11. RESERVES
Fair
value
reserve
£   
At 1 January 2023
and 31 December 2023 193,992

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

The Report of the Auditors was unqualified.


The financial statements of Walker Humphrey Limited for the previous year ended 31 December 2022 were not audited.

Mr Philip Samuel (Senior Statutory Auditor)
for and on behalf of Beaumonts (Statutory Auditors)

The following is an extract from Beaumonts (Statutory Auditors) Report of the Auditors:

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

13. OTHER FINANCIAL COMMITMENTS

The total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £916,997 (2022 - £890,867).

Walker Humphrey Limited (Registered number: 00832101)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

14. RELATED PARTY DISCLOSURES

At the balance sheet date the company was owed £354,909 (2022 - £55,479) by M W Humphrey a director, £107,335 (2022 - £32,862) by S A Humphrey a director and £10,000 (2022 - £nil) by S Rennison a director. The company has not charged interest on these loans.