REGISTERED NUMBER: SC226449 (Scotland)

Walker Groundworks Limited

Unaudited Financial Statements

for the Year Ended 31st December 2024

Page

Company information

1

Balance sheet

2

to

3

Notes to the financial statements

4

to

8

Directors:

Mrs M Walker

G W Walker

Secretary:

Mrs M Walker

Registered office:

The Old Smiddy

Graden

Kelso

Roxburghshire

TD5 8BS

Registered number:

SC226449 (Scotland)

Accountants:

Rennie Welch LLP

Academy House

Shedden Park Road

Kelso

Roxburghshire

TD5 7AL

Fixed assets

Intangible assets

4

-

-

Tangible assets

5

3,446,625

3,911,444

3,446,625

3,911,444

Current assets

Stocks

127,000

144,000

Debtors

6

826,064

980,809

953,064

1,124,809

Creditors

Amounts falling due within one year

7

1,406,069

1,946,352

Net current liabilities

(453,005

)

(821,543

)

Total assets less current liabilities

2,993,620

3,089,901

Creditors

Amounts falling due after more than one year

8

(804,137

)

(1,282,947

)

Provisions for liabilities

(468,831

)

(398,811

)

Net assets

1,720,652

1,408,143

Capital and reserves

Called up share capital

100

100

Retained earnings

1,720,552

1,408,043

Shareholders' funds

1,720,652

1,408,143

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

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

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 25th September 2025 and were signed on its behalf by:

Mrs M Walker - Director

1.	Statutory information

Walker Groundworks Limited is a private company, limited by shares , registered in Scotland. 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 the total invoice value, excluding value added tax, of sales invoiced during the year, or the fair value of services provided for amounts not invoiced at the year end. Turnover arising from the sale of goods is recognised when the significant risks and rewards of ownership have passed to the buyer. Turnover arising from the provision of services is recognised as contract activity progresses and the right to consideration is earned. Unbilled turnover is included in debtors as amounts recoverable on contracts.

Goodwill

Acquired goodwill has been fully written off in equal annual instalments over its estimated useful economic life of 20 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 the cost less estimated residual value of each asset over its estimated useful life.

Freehold property

-

Nil

Tenants improvements

-

4% on cost

Excavators

-

15% on reducing balance

Equipment

-

at variable rates on reducing balance

Motor vehicles

-

25% on reducing balance

Tractors

-

15% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Stock

Stock includes land which is stated at cost.

Fuel and material stocks are valued at the lower of cost and net realisable value. Cost includes all direct expenditure and appropriate proportion of fixed and variable overheads. Net realisable value is based on estimated selling prices less further costs expected to be incurred in bringing the stock to completion.

Financial instruments

The following assets and liabilities are classified as financial instruments - trade debtors, trade creditors, accruals, bank loans, bank overdraft, hire purchase contracts and directors' loans.

Bank loans and hire purchase contracts are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors' loans (being repayable on demand), trade debtors, trade creditors, bank overdraft and accruals are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at 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 Income and Retained Earnings.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

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 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.

Long term contracts

Amounts recoverable on long term contracts, which are included in debtors, are stated at the net sales value of the work done after provisions for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments received on account.

Provisions

Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably.

Employee benefits

Short term employee benefits, including holiday pay, are recognised as an expense in the Statement of Income and Retained Earnings in the period in which they are incurred.

Going concern

The directors have considered the company's financial position for a minimum period of 12 months and beyond from the date of signing these financial statements and has an expectation that the company should be in a position to continue trading in current format for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing these financial statements.

3.	Employees and directors

The average number of employees during the year was 37 (2023 - 38 ) .

4.	Intangible fixed assets

Goodwill

£

Cost

At 1st January 2024

and 31st December 2024

60,000

Amortisation

At 1st January 2024

and 31st December 2024

60,000

Net book value

At 31st December 2024

-

At 31st December 2023

-

5.	Tangible fixed assets

Freehold

Tenants

property

improvements

Excavators

£

£

£

Cost

At 1st January 2024

252,658

168,432

1,421,214

Additions

-

41,476

275,270

Disposals

(73,411

)

-

(176,489

)

At 31st December 2024

179,247

209,908

1,519,995

Depreciation

At 1st January 2024

7,148

37,759

528,099

Charge for year

-

8,361

119,359

Eliminated on disposal

-

-

(79,530

)

At 31st December 2024

7,148

46,120

567,928

Net book value

At 31st December 2024

172,099

163,788

952,067

At 31st December 2023

245,510

130,673

893,115

Motor

Equipment

vehicles

Tractors

Totals

£

£

£

£

Cost

At 1st January 2024

1,146,649

1,180,069

2,246,287

6,415,309

Additions

91,538

281,356

33,500

723,140

Disposals

-

(107,855

)

(698,049

)

(1,055,804

)

At 31st December 2024

1,238,187

1,353,570

1,581,738

6,082,645

Depreciation

At 1st January 2024

611,726

448,851

870,282

2,503,865

Charge for year

86,883

206,667

155,688

576,958

Eliminated on disposal

-

(65,893

)

(299,380

)

(444,803

)

At 31st December 2024

698,609

589,625

726,590

2,636,020

Net book value

At 31st December 2024

539,578

763,945

855,148

3,446,625

At 31st December 2023

534,923

731,218

1,376,005

3,911,444

6.

Debtors: amounts falling due within one year

2024

2023

£

£

Trade debtors

679,311

657,763

Amounts recoverable on contract

138,106

312,514

Other debtors

8,647

10,532

826,064

980,809

7.

Creditors: amounts falling due within one year

2024

2023

£

£

Bank loans and overdrafts

129,755

269,459

Hire purchase contracts

520,582

706,939

Trade creditors

175,942

286,734

Taxation and social security

118,964

111,856

Other creditors

460,826

571,364

1,406,069

1,946,352

8.

Creditors: amounts falling due after more than one year

2024

2023

£

£

Bank loans

55,593

77,245

Hire purchase contracts

748,544

1,205,702

804,137

1,282,947

9.	Secured debts

The following secured debts are included within creditors:

2024

2023

£

£

Bank overdrafts

105,775

242,889

Bank loans

79,573

103,815

Hire purchase contracts

1,269,126

1,912,641

1,454,474

2,259,345

Clydesdale Bank has standard security over land at Morebattle, Kelso, together with a supported guarantee from the directors and a floating charge over the property and undertaking.

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

10.	Post balance sheet events

An interim dividend relating to the year ending 31st December 2025 was declared on 2nd April 2025 at £ 0.38686 per share.

An interim dividend relating to the year ending 31st December 2025 was declared on 24th March 2025 at £ 0.29014 per share.