ACCOUNTS - Final Accounts preparation

Registered number: 02395892

JAMES WALKER TOWNSON LIMITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

JAMES WALKER TOWNSON LIMITED

COMPANY INFORMATION

Directors	P L Bristow
	D Neeb
	J Eves


Registered number	02395892


Registered office	Lion House
	Oriental Road
	Woking
	Surrey
	GU22 8AP


Independent auditors	HaysMac LLP
	10 Queen Street Place
	London
	EC4R 1AG

JAMES WALKER TOWNSON LIMITED

CONTENTS

	Page
Directors' Report	1 - 3
Independent Auditors' Report	4 - 7
Statement of Comprehensive Income	8
Statement of Financial Position	9 - 10
Statement of Changes in Equity	11
Notes to the Financial Statements	12 - 20

JAMES WALKER TOWNSON LIMITED

DIRECTORS' REPORT

FOR THE YEAR ENDED 31 MARCH 2025

The Directors present their report and the financial statements for the year ended 31 March 2025.

Directors' responsibilities statement

The Directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the Directors to prepare financial statements for each financial year. Under that law the Directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

In preparing these financial statements, the Directors are required to:

∙select suitable accounting policies for the Company's financial statements and then apply them consistently;

∙make judgements and accounting estimates that are reasonable and prudent;

∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Results and dividends

The profit for the year, after taxation, amounted to £443,370 (2024 - £516,301).

The Directors approved a dividend of £800,000 (2024: £450,000).

Directors

The Directors who served during the year were:

P L Bristow

D Neeb

J Eves

Page 1

JAMES WALKER TOWNSON LIMITED

DIRECTORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

Business risks

Product innovation

The Company supplies products which include materials that are subject to regulations and in some cases customer certifications. Specifically, there is a risk around poly and perfluoroalkyl substances (PFAS) and if these materials are prohibited or withdrawn this could stop the supply of certain products into the market place. We are identifying materials that could be at risk as well as researching and developing alternative solutions.
Supply chain disruption
Disruption of supply of raw and semi-finished materials has continued to reduce during the year, partly due to a number of measures which the Company has implemented. We continue to communicate closely with our suppliers, review critical raw material needs and monitor logistics partners. We are not currently experiencing any supply chain issues.
Impact of US tariffs
New, elevated US tariffs were announced on 2 April 2025, creating significant global economic uncertainty and raising the risk of recessionary consequences. We anticipate a relatively limited direct impact from these tariffs and any reciprocal measures. We import raw materials from the USA however our exports to the USA are relatively modest. We anticipate passing on tariff costs to customers, wherever possible. Conversely, decreased global economic activity has the potential to significantly reduce demand for our products and systems.
Geopolitical instability
We are seeing increased geopolitical instability which may impact supply chains, customer demand or wider operations. The diversified geography and industry of our business is helpful. We also view increased defence spending as an opportunity.
Input costs
Some of the Company’s input costs, including labour and associated UK social taxes, continue to increase. We aim to mitigate this through operational efficiencies, cost saving initiatives and passing residual cost increases on to customers.

Disclosure of information to auditors

Each of the persons who are Directors at the time when this Directors' Report is approved has confirmed that:

∙so far as the Director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

∙the Director has taken all the steps that ought to have been taken as a Director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Page 2

JAMES WALKER TOWNSON LIMITED

DIRECTORS' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2025

Auditors

On 18 November 2024, the Company’s auditors changed their name from Haysmacintyre LLP to HaysMac LLP.

Pursuant to Section 487 of the Companies Act 2006, the auditor will be deemed to be reappointed and HaysMac LLP will therefore continue in office.

Small companies note

In preparing this report, the Directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board on 10 July 2025 and signed on its behalf.

................................................

P L Bristow

Director

Page 3

JAMES WALKER TOWNSON LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF JAMES WALKER TOWNSON LIMITED

Opinion

We have audited the financial statements of James Walker Townson Limited (the 'Company') for the year ended 31 March 2025, which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

∙give a true and fair view of the state of the Company's affairs as at 31 March 2025 and of its profit for the year then ended;

∙have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

∙have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Directors with respect to going concern are described in the relevant sections of this report.

Page 4

JAMES WALKER TOWNSON LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF JAMES WALKER TOWNSON LIMITED (CONTINUED)

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

∙the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

∙the Directors' Report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

∙adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

∙the financial statements are not in agreement with the accounting records and returns; or

∙certain disclosures of Directors' remuneration specified by law are not made; or

∙we have not received all the information and explanations we require for our audit; or

∙the Directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Directors' Report and from the requirement to prepare a Strategic Report.

Responsibilities of Directors

As explained more fully in the Directors' Responsibilities Statement set out on page 1, the Directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Directors either intend to liquidate the Company or to cease operations,

Page 5

JAMES WALKER TOWNSON LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF JAMES WALKER TOWNSON LIMITED (CONTINUED)

or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud
Based on our understanding of the Company and industry, we identified that the principal risks of non-compliance with laws and regulations related to regulatory requirements for manufacturing businesses such as health and safety and trade regulations, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006, income tax, payroll tax and sales tax.
We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to revenue and management bias in accounting estimates. Audit procedures performed by the engagement team included:

∙Inspecting correspondence with regulators and tax authorities;

∙Discussion with management including consideration of known or suspected instances of non-compliance with laws and regulations and fraud;

∙Evaluating management’s controls designed to prevent and detect irregularities;

∙Identifying and testing journals, in particular journal entries posted with unusual large amounts or with unusual depriciations; and

∙Challenging assumptions and judgements made by management in their critical accounting estimates.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.

Page 6

JAMES WALKER TOWNSON LIMITED

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF JAMES WALKER TOWNSON LIMITED (CONTINUED)

Use of our report

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.

Bernadette King (Senior Statutory Auditor)

for and on behalf of

HaysMac LLP

Statutory Auditors

10 Queen Street Place

London

EC4R 1AG

10 July 2025

Page 7

JAMES WALKER TOWNSON LIMITED

STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 MARCH 2025

	2025	2024
	£	£


Turnover		3,861,603	2,996,240
Change in stocks of finished goods and work in progress		(28,925)	102,447
Other operating income		26,735	9,452
Raw materials and consumables		(950,898)	(887,962)
Other external charges		(856,047)	(654,925)
Staff costs		(1,345,615)	(1,029,893)
Depreciation and amortisation		(50,805)	(16,195)
Operating profit		656,048	519,164
Interest receivable and similar income		19,050	19,474
Interest payable and similar expenses		-	(337)
Profit before tax		675,098	538,301
Tax on profit	3	(231,728)	(22,000)
Profit for the financial year		443,370	516,301

The notes on pages 12 to 20 form part of these financial statements.

Page 8

JAMES WALKER TOWNSON LIMITED

REGISTERED NUMBER: 02395892

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2025

		2025		2024
Note		£		£

Fixed assets
Tangible assets	4		222,362		267,537
			222,362		267,537
Current assets
Stocks	5	486,964		494,747
Debtors due after more than 1 year	6	-		814
Debtors due within 1 year	6	1,520,356		1,284,990
Bank and cash balances		38,264		23,174
		2,045,584		1,803,725
Creditors: amounts falling due within one year	7	(615,855)		(408,928)
Net current assets			1,429,729		1,394,797
Total assets less current liabilities			1,652,091		1,662,334
Provisions for liabilities
Deferred tax	8	(35,000)		(16,000)
Other provisions	9	(98,050)		(120,663)
			(133,050)		(136,663)
Net assets			1,519,041		1,525,671

Capital and reserves
Called up share capital	665,002	665,002
Profit and loss account	854,039	860,669
	1,519,041	1,525,671

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

P L Bristow

Director

Date: 10 July 2025

The notes on pages 12 to 20 form part of these financial statements.

Page 9

JAMES WALKER TOWNSON LIMITED

REGISTERED NUMBER: 02395892

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 MARCH 2025

Page 10

JAMES WALKER TOWNSON LIMITED

STATEMENT OF CHANGES IN EQUITY

FOR THE YEAR ENDED 31 MARCH 2025

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 April 2023	665,002	794,368	1,459,370
Comprehensive income for the year
Profit for the year	-	516,301	516,301
Contributions by and distributions to owners
Dividends: Equity capital	-	(450,000)	(450,000)

At 1 April 2024	665,002	860,669	1,525,671
Comprehensive income for the year
Profit for the year	-	443,370	443,370
Contributions by and distributions to owners
Dividends: Equity capital	-	(450,000)	(450,000)
At 31 March 2025	665,002	854,039	1,519,041

The notes on pages 12 to 20 form part of these financial statements.

Page 11

JAMES WALKER TOWNSON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.Accounting policies

1.1

Basis of preparation of financial statements

James Walker Townson Limited is a private company, limited by shares, registered and domiciled in England and Wales.
The registered office is:
Lion House
Oriental Road
Woking
Surrey
GU22 8AP
The principal place of business is:
Unit 1B Castlehill, Horsefield Way
Bredbury Park Industrial Estate
Bredbury
Stockport
SK6 2SU
The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland, and the Companies Act 2006.
The following principal accounting policies have been applied:

1.2

Going concern

After reviewing the Company’s forecasts and projections, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing its financial statements.

1.3

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of turnover can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Page 12

JAMES WALKER TOWNSON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.Accounting policies (continued)

1.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

The Company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the Company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.

Depreciation is provided on the following basis:

Leasehold additions	-	Over the term of the lease
Plant and machinery	-	10% straight-line method
Motor vehicles	-	25% straight-line method

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised within 'other external charges' in the Income Statement.

1.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Income Statement.

1.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

1.7

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 13

JAMES WALKER TOWNSON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.Accounting policies (continued)

1.8

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.

Increases in provisions are generally charged as an expense to profit or loss.

1.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

1.10

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

Page 14

JAMES WALKER TOWNSON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.Accounting policies (continued)

1.11

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Employees

The average monthly number of employees during the year was 25 (2024: 21).

Page 15

JAMES WALKER TOWNSON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

3.	Taxation

		2025	2024
		£	£

Corporation tax
Current tax on profits for the year	212,728	22,000
	212,728	22,000

Total current tax	212,728	22,000

Deferred tax
Origination and reversal of timing differences	19,000	-
Total deferred tax	19,000	-


	Tax on profit	231,728	22,000

Factors affecting tax charge for the year
The tax assessed for the year is higher than (2024 - lower than) the standard rate of corporation tax in the UK of 25% (2024 - 25%). The differences are explained below:
	2025	2024
	£	£

Profit on ordinary activities before tax

675,097

538,302

Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25%)	168,690	134,576
Effects of:
Expenses not deductible for tax purposes, other than goodwill amortisation and impairment	188	250
Capital allowances for year in excess of depreciation	26,460	(7,961)
Underprovision in prior year tax	32,491	-
Other timing differences leading to an increase (decrease) in taxation	4,982	1,000
Non-taxable income	(1,083)	-
Group relief surrender	(180,237)	(105,865)
Purchase of tax losses	180,237	-
Total tax charge for the year	231,728	22,000

Page 16

JAMES WALKER TOWNSON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

3.Taxation (continued)

Factors that may affect future tax charges

Based on current investment plans, the Company expects to continue to be able to claim capital allowances in excess of depreciation.

4.	Tangible fixed assets

	Plant and machinery	Motor vehicles	Long-term leasehold property	Total
	£	£	£	£
Cost or valuation
At 1 April 2024	385,443	127,404	101,784	614,631
Additions	8,131	-	-	8,131
Disposals	-	(14,970)	-	(14,970)
At 31 March 2025	393,574	112,434	101,784	607,792
Depreciation
At 1 April 2024	213,416	31,894	101,784	347,094
Charge for the year	24,573	26,233	-	50,806
Disposals	-	(12,470)	-	(12,470)
At 31 March 2025	237,989	45,657	101,784	385,430
Net book value
At 31 March 2025	155,585	66,777	-	222,362
At 31 March 2024	172,027	95,510	-	267,537

Page 17

JAMES WALKER TOWNSON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

5.	Stocks
		2025	2024
		£	£

Raw materials and consumables	280,230	262,142
Finished goods and work in progress	206,734	232,605
	486,964	494,747

Debtors

					2025	2024
					£	£

Due after more than one year
Other debtors	-	814
	-	814
Due within one year
Trade debtors	293,925	244,499
Amounts owed by group undertakings	1,104,941	866,222
Other debtors	1,704	41,761
Prepayments and accrued income	119,786	132,508
	1,520,356	1,285,804

7.	Creditors: Amounts falling due within one year
		2025	2024
		£	£

Trade creditors	203,574	207,230
Amounts owed to group undertakings	182,492	7,100
Other taxation and social security	24,872	-
Other creditors	21,297	35,842
Accruals and deferred income	183,620	158,756
	615,855	408,928

Page 18

JAMES WALKER TOWNSON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

8.	Deferred taxation

		2025
		£

	At beginning of year	(16,000)
	Charged to profit or loss	(19,000)
	At end of year	(35,000)

The provision for deferred taxation is made up as follows:
	2025	2024
	£	£

	Deaccelerated capital allowances	(35,000)	(16,000)
		(35,000)	(16,000)

9.	Provisions

	Dilapidations provision	Warranty provision	Other specific provisions	Total
	£	£	£	£

At 1 April 2024	43,956	34,360	42,347	120,663
Charged to profit or loss	3,996	5,738	(32,347)	(22,613)
At 31 March 2025	47,952	40,098	10,000	98,050

10.	Contingent liabilities

At 31 March 2025 the Company was party to a multilateral guarantee in respect of the indebtedness of other group companies to the value of £2,000,000 (2024: £2,000,000).

Page 19

JAMES WALKER TOWNSON LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

11.	Pension commitments

The Company participates in a group defined benefit plan, the James Walker Pension Scheme ("JWPS"). For the purposes of FRS102 s28 the Company cannot identify its share of the underlying assets & liabilities of the defined benefit scheme in which it participates and the Company's pension contributions are assessed in accordance with the advice of a qualified independent actuary whose calculations are based upon total scheme membership. There is no contractual agreement or stated policy for charging the cost of the plan to the individual companies. In overall terms at 31 March 2025 there was a deficit of £1,054k in respect of the JWPS. The JWPS was closed to future accrual with effect from 30 April 2016 and active members of the scheme at that date were auto-enrolled into the James Walker Group Personal Pension Plan, a defined contribution scheme. Further information is included in the financial statements of the parent undertaking.

12.	Commitments under operating leases
	At 31 March 2025 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:
		2025	2024
		£	£

Not later than 1 year	166,596	146,496
Later than 1 year and not later than 5 years	162,285	301,678
	328,881	448,174

13.	Controlling party

The ultimate parent undertaking is James Walker Group Limited. Its registered office is Lion House, Oriental Road, Woking, Surrey, GU22 8AP.
Group financial statements for James Walker Group Limited are available to the public from Companies House, Crown Way, Cardiff, for which there may be a fee, if applicable.

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