REGISTERED NUMBER: 04605551 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 January 2025

for

Walcott Potatoes Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

W H Thackray

R T Sadler

SECRETARY:

Miss J J Morris

REGISTERED OFFICE:

Pinfold Lane

Walcott

Lincoln

LN4 3SY

REGISTERED NUMBER:

04605551 (England and Wales)

ACCOUNTANTS:

Wright Vigar Limited

Chartered Accountants & Business Advisers

Northgate House

Northgate

Sleaford

Lincolnshire

NG34 7BZ

FIXED ASSETS

Intangible assets

4

-

-

Property, plant and equipment

5

23,471

28,793

23,471

28,793

CURRENT ASSETS

Inventories

780

17,067

Debtors

6

100,245

259,898

Cash at bank

177,248

151,502

278,273

428,467

CREDITORS

Amounts falling due within one year

7

(205,532

)

(247,453

)

NET CURRENT ASSETS

72,741

181,014

TOTAL ASSETS LESS CURRENT LIABILITIES

96,212

209,807

PROVISIONS FOR LIABILITIES

-

(5,471

)

NET ASSETS

96,212

204,336

CAPITAL AND RESERVES

Called up share capital

8

2,000

2,000

Retained earnings

94,212

202,336

SHAREHOLDERS' FUNDS

96,212

204,336

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 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.

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 25 September 2025 and were signed on its behalf by:

W H Thackray - Director

R T Sadler - Director

1.	STATUTORY INFORMATION

Walcott Potatoes 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

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2003, has been fully amortised evenly over its estimated useful life of ten years. In addition an acquisition of a business in 2012 has been fully 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.

Land and Buildings

-

10% on cost

Fixtures and Fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Stocks

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

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2024 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 February 2024

and 31 January 2025

62,000

AMORTISATION

At 1 February 2024

and 31 January 2025

62,000

NET BOOK VALUE

At 31 January 2025

-

At 31 January 2024

-

5.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Land and

and

Motor

Buildings

Fittings

vehicles

Totals

£

£

£

£

COST

At 1 February 2024

29,196

12,791

159,666

201,653

Disposals

-

-

(20,400

)

(20,400

)

At 31 January 2025

29,196

12,791

139,266

181,253

DEPRECIATION

At 1 February 2024

29,085

11,995

131,780

172,860

Charge for year

18

116

5,063

5,197

Eliminated on disposal

-

-

(20,275

)

(20,275

)

At 31 January 2025

29,103

12,111

116,568

157,782

NET BOOK VALUE

At 31 January 2025

93

680

22,698

23,471

At 31 January 2024

111

796

27,886

28,793

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

82,281

252,304

Tax

7,157

-

VAT

137

3,655

Deferred tax asset

4,662

-

Prepayments

6,008

3,939

100,245

259,898

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

199,171

232,301

Tax

-

7,157

Social security and other taxes

189

2,611

Directors' current accounts

702

392

Accrued expenses

5,470

4,992

205,532

247,453

Included in 'directors current account' is the amount of £462 (2024: £202 ) that the company owes to Mr W H Thackray and the amount of £239 (2024: £190) that the company owes to Mr R T Sadler.

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

2,000

Ordinary

£1

2,000

2,000

9.	CONTROLLING PARTY

The directors control the company by way of owning 100% of the issued share capital.