Silverfin false false 31/03/2025 01/04/2024 31/03/2025 H S Bradshaw 19/06/2013 L A Hopkins 21/06/2023 D Rhodes 24/04/2002 23 June 2025 The principal activity of the Company during the financial year was that of the manufacture of wiring harnesses and kit assembly. 04308623 2025-03-31 04308623 bus:Director1 2025-03-31 04308623 bus:Director2 2025-03-31 04308623 bus:Director3 2025-03-31 04308623 2024-03-31 04308623 core:CurrentFinancialInstruments 2025-03-31 04308623 core:CurrentFinancialInstruments 2024-03-31 04308623 core:ShareCapital 2025-03-31 04308623 core:ShareCapital 2024-03-31 04308623 core:RetainedEarningsAccumulatedLosses 2025-03-31 04308623 core:RetainedEarningsAccumulatedLosses 2024-03-31 04308623 core:PlantMachinery 2024-03-31 04308623 core:Vehicles 2024-03-31 04308623 core:FurnitureFittings 2024-03-31 04308623 core:OfficeEquipment 2024-03-31 04308623 core:PlantMachinery 2025-03-31 04308623 core:Vehicles 2025-03-31 04308623 core:FurnitureFittings 2025-03-31 04308623 core:OfficeEquipment 2025-03-31 04308623 bus:OrdinaryShareClass1 2025-03-31 04308623 core:WithinOneYear 2025-03-31 04308623 core:WithinOneYear 2024-03-31 04308623 core:BetweenOneFiveYears 2025-03-31 04308623 core:BetweenOneFiveYears 2024-03-31 04308623 core:MoreThanFiveYears 2025-03-31 04308623 core:MoreThanFiveYears 2024-03-31 04308623 2024-04-01 2025-03-31 04308623 bus:FilletedAccounts 2024-04-01 2025-03-31 04308623 bus:SmallEntities 2024-04-01 2025-03-31 04308623 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 04308623 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 04308623 bus:Director1 2024-04-01 2025-03-31 04308623 bus:Director2 2024-04-01 2025-03-31 04308623 bus:Director3 2024-04-01 2025-03-31 04308623 core:PlantMachinery 2024-04-01 2025-03-31 04308623 core:Vehicles 2024-04-01 2025-03-31 04308623 core:FurnitureFittings 2024-04-01 2025-03-31 04308623 core:OfficeEquipment core:TopRangeValue 2024-04-01 2025-03-31 04308623 2023-04-01 2024-03-31 04308623 core:OfficeEquipment 2024-04-01 2025-03-31 04308623 bus:OrdinaryShareClass1 2024-04-01 2025-03-31 04308623 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 04308623 (England and Wales)

WALKER SCOTT LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

WALKER SCOTT LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

WALKER SCOTT LIMITED

BALANCE SHEET

As at 31 March 2025
WALKER SCOTT LIMITED

BALANCE SHEET (continued)

As at 31 March 2025
Note 2025 2024
£ £
Fixed assets
Tangible assets 3 403,042 341,757
403,042 341,757
Current assets
Stocks 4 806,534 745,758
Debtors 5 1,143,641 946,394
Cash at bank and in hand 440,128 711,345
2,390,303 2,403,497
Creditors: amounts falling due within one year 6 ( 974,770) ( 970,940)
Net current assets 1,415,533 1,432,557
Total assets less current liabilities 1,818,575 1,774,314
Provision for liabilities ( 100,760) ( 84,992)
Net assets 1,717,815 1,689,322
Capital and reserves
Called-up share capital 7 2 2
Profit and loss account 1,717,813 1,689,320
Total shareholders' funds 1,717,815 1,689,322

For the financial year ending 31 March 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Walker Scott Limited (registered number: 04308623) were approved and authorised for issue by the Board of Directors on 23 June 2025. They were signed on its behalf by:

H S Bradshaw
Director
WALKER SCOTT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
WALKER SCOTT LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Walker Scott Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit 3a Parkside, Christchurch Road, Ringwood, BH24 3SG, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.
Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Taxation

Current tax
Current tax is provided at amounts expected to be paid using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a basis over its expected useful life, as follows:

Plant and machinery 20 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 15 % reducing balance
Office equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Leases

The Company as lessee
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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2025 2024
Number Number
Monthly average number of persons employed by the Company during the year, including directors 43 48

3. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £
Cost
At 01 April 2024 542,156 32,307 93,566 177,049 845,078
Additions 63,000 100,330 3,330 2,250 168,910
Disposals ( 19,625) 0 ( 12,978) ( 8,696) ( 41,299)
At 31 March 2025 585,531 132,637 83,918 170,603 972,689
Accumulated depreciation
At 01 April 2024 268,506 28,944 59,837 146,034 503,321
Charge for the financial year 55,974 18,118 4,869 16,315 95,276
Disposals ( 15,171) 0 ( 6,993) ( 6,786) ( 28,950)
At 31 March 2025 309,309 47,062 57,713 155,563 569,647
Net book value
At 31 March 2025 276,222 85,575 26,205 15,040 403,042
At 31 March 2024 273,650 3,363 33,729 31,015 341,757

4. Stocks

2025 2024
£ £
Stocks 806,534 745,758

5. Debtors

2025 2024
£ £
Trade debtors 1,063,397 889,248
Other debtors 80,244 57,146
1,143,641 946,394

6. Creditors: amounts falling due within one year

2025 2024
£ £
Trade creditors 528,514 522,500
Corporation tax 158,039 225,988
Other taxation and social security 187,526 172,372
Other creditors 100,691 50,080
974,770 970,940

7. Called-up share capital

2025 2024
£ £
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each 2 2

8. Financial commitments

Commitments

Capital commitments are as follows:

2025 2024
£ £
Contracted for but not provided for:
Finance leases entered into 373,750 431,250

Total future minimum lease payments under non-cancellable operating leases are as follows:

2025 2024
£ £
within one year 57,500 57,500
between one and five years 230,000 230,000
after five years 86,250 143,750
373,750 431,250