REGISTERED NUMBER: SC732257 (Scotland)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Walker Dairying Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr R C Walker

Mr G J Walker

REGISTERED OFFICE:

Lakehead

Closeburn

Dumfries & Galloway

DG3 5HP

REGISTERED NUMBER:

SC732257 (Scotland)

ACCOUNTANTS:

Benson Accountants

Wiza House

Station Road

Wigton

Cumbria

CA7 9BA

FIXED ASSETS

Tangible assets

4

27,480

21,381

CURRENT ASSETS

Debtors

5

734,508

583,042

Cash in hand

160

160

734,668

583,202

CREDITORS

Amounts falling due within one year

6

304,211

245,640

NET CURRENT ASSETS

430,457

337,562

TOTAL ASSETS LESS CURRENT LIABILITIES

457,937

358,943

CREDITORS

Amounts falling due after more than one year

7

(400,000

)

(400,000

)

PROVISIONS FOR LIABILITIES

(7,282

)

(4,062

)

NET ASSETS/(LIABILITIES)

50,655

(45,119

)

CAPITAL AND RESERVES

Called up share capital

100

-

Retained earnings

50,555

(45,119

)

50,655

(45,119

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 June 2025 and were signed on its behalf by:

Mr R C Walker - Director

Mr G J Walker - Director

1.	STATUTORY INFORMATION

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

15% on reducing balance

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Going concern

The company has traded at a loss in the period to 31 December 2022 due to pre-trading costs. The company entered into a contract farming agreement at 01 January 2023 and having considered the expectations and intentions for the next twelve months and the availability of working capital, the company is a going concern and the accounts are prepared on this basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 January 2024

26,750

Additions

17,095

Disposals

(8,000

)

At 31 December 2024

35,845

DEPRECIATION

At 1 January 2024

5,369

Charge for year

4,850

Eliminated on disposal

(1,854

)

At 31 December 2024

8,365

NET BOOK VALUE

At 31 December 2024

27,480

At 31 December 2023

21,381

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

£

Trade debtors

46,970

46,654

Other debtors

687,538

536,388

734,508

583,042

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/24

31/12/23

£

£

Bank loans and overdrafts

79,696

110,867

Trade creditors

163,815

128,225

Taxation and social security

11,443

1,807

Other creditors

49,257

4,741

304,211

245,640

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/12/24

31/12/23

£

£

Bank loans

400,000

400,000

8.	SECURED DEBTS

The following secured debts are included within creditors:

31/12/24

31/12/23

£

£

Bank overdrafts

79,696

110,867

Bank loans

400,000

400,000

479,696

510,867

HSBC Bank Plc hold a floating charge over all assets and undertaking of Walker Dairying Limited.

9.	RELATED PARTY DISCLOSURES

Other creditors comprises of a loan from Lakehead Dairying Limited, a company under common control, there is no formal written loan agreement, however the directors have confirmed that there is no intention for the loan to be called in. At the balance sheet date Walker Dairying Limited owed Lakehead Dairying Limited £12,524 (2023 - £3,641). Interest is not currently being charged, however this will be reviewed in the future.

Included in other debtors are amounts owed from businesses also under common control of the directors. At the balance sheet date the balances on these loans stood at £705,538 (2023 - £535,888).