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REGISTERED NUMBER: 01189772 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2024

FOR

WALKER ADAMSON & CO. LIMITED

WALKER ADAMSON & CO. LIMITED (REGISTERED NUMBER: 01189772)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WALKER ADAMSON & CO. LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MAY 2024







DIRECTORS: S Walker
Mrs C Walker



SECRETARY: Mrs C Walker



REGISTERED OFFICE: Unit 3G Eaton Point
Matrix Park
Eaton Avenue
Buckshaw, Chorley
Lancashire
PR7 7NG



REGISTERED NUMBER: 01189772 (England and Wales)



ACCOUNTANTS: Ainsworths Limited
Chartered Accountants
Charter House
Stansfield Street
Nelson
Lancashire
BB9 9XY



BANKERS: National Westminster Bank Plc
24 Deansgate
Bolton
Greater Manchester
BL1 1BN

WALKER ADAMSON & CO. LIMITED (REGISTERED NUMBER: 01189772)

BALANCE SHEET
31ST MAY 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 621,305 610,594

CURRENT ASSETS
Stocks 7,500 59,000
Debtors 5 912,774 617,642
Cash at bank and in hand 173,975 58,952
1,094,249 735,594
CREDITORS
Amounts falling due within one year 6 722,812 560,745
NET CURRENT ASSETS 371,437 174,849
TOTAL ASSETS LESS CURRENT
LIABILITIES

992,742

785,443

CREDITORS
Amounts falling due after more than one
year

7

(228,048

)

(259,060

)

PROVISIONS FOR LIABILITIES (56,877 ) (52,481 )
NET ASSETS 707,817 473,902

CAPITAL AND RESERVES
Called up share capital 100 100
Capital redemption reserve 1 1
Retained earnings 707,716 473,801
SHAREHOLDERS' FUNDS 707,817 473,902

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2024 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 ADAMSON & CO. LIMITED (REGISTERED NUMBER: 01189772)

BALANCE SHEET - continued
31ST MAY 2024


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 28th January 2025 and were signed on its behalf by:





S Walker - Director


WALKER ADAMSON & CO. LIMITED (REGISTERED NUMBER: 01189772)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2024


1. STATUTORY INFORMATION

Walker Adamson & Co. 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.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Plant and machinery - 10% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

In respect of freehold property, depreciation is not provided on the proportion that is deemed to represent the value of the land.

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport and handling costs in bringing stocks to their present location and condition.

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.

WALKER ADAMSON & CO. LIMITED (REGISTERED NUMBER: 01189772)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2024


2. ACCOUNTING POLICIES - continued

Hire purchase and leased assets
Assets held under finance lease and hire purchase contracts are capitalised in the balance sheet at their fair value and depreciated over their expected useful lives. The interest element of leasing payments represents a constant proportion of the capital balance outstanding and is charged to the profit and loss account over the period of the lease.

All other leases are regarded as operating leases and the payments made under them are charged to the profit and loss account on a straight line basis over the lease term.

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.

Operating leases
Rentals under operating leases are charged to the profit and loss account in the period in which they are incurred.


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2023 - 22 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and
property machinery fittings
£    £    £   
COST
At 1st June 2023 465,147 25,023 19,679
Additions - 3,910 -
At 31st May 2024 465,147 28,933 19,679
DEPRECIATION
At 1st June 2023 33,094 23,287 9,092
Charge for year 7,559 463 1,940
At 31st May 2024 40,653 23,750 11,032
NET BOOK VALUE
At 31st May 2024 424,494 5,183 8,647
At 31st May 2023 432,053 1,736 10,587

WALKER ADAMSON & CO. LIMITED (REGISTERED NUMBER: 01189772)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2024


4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1st June 2023 304,492 10,108 824,449
Additions 53,380 5,823 63,113
At 31st May 2024 357,872 15,931 887,562
DEPRECIATION
At 1st June 2023 138,706 9,676 213,855
Charge for year 41,447 993 52,402
At 31st May 2024 180,153 10,669 266,257
NET BOOK VALUE
At 31st May 2024 177,719 5,262 621,305
At 31st May 2023 165,786 432 610,594

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1st June 2023 191,098
Additions 53,380
At 31st May 2024 244,478
DEPRECIATION
At 1st June 2023 43,105
Charge for year 36,998
At 31st May 2024 80,103
NET BOOK VALUE
At 31st May 2024 164,375
At 31st May 2023 147,993

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 776,526 518,196
Other debtors 136,248 99,446
912,774 617,642

WALKER ADAMSON & CO. LIMITED (REGISTERED NUMBER: 01189772)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Bank loans and overdrafts 18,980 19,756
Hire purchase contracts 35,577 32,331
Trade creditors 455,467 312,553
Taxation and social security 156,875 161,668
Other creditors 55,913 34,437
722,812 560,745

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.24 31.5.23
£    £   
Bank loans 181,713 216,009
Hire purchase contracts 46,335 43,051
228,048 259,060

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 132,459 153,653

8. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Hire purchase contracts 81,912 75,382
Bank loan 177,361 202,432
259,273 277,814

The bank loan is secured by way of fixed and floating charges over all property of the company.

Hire purchase contracts are secured over the assets to which they relate.