Registration number: 00120058

Walters & Co. (Oxford) Limited

Contents

Statement of Directors' Responsibilities	1
Balance Sheet	2
Notes to the Financial Statements	3 to 8

Walters & Co. (Oxford) Limited

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities for preparing the Annual 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 United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 and 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 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.

Walters & Co. (Oxford) Limited

(Registration number: 00120058)
Balance Sheet as at 31 January 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	1,941	3,881
Tangible assets	5	11,117	5,990
		13,058	9,871
Current assets
Stocks	6	322,874	347,670
Debtors	7	669,792	417,150
Cash at bank and in hand		8,122	8,179
		1,000,788	772,999
Creditors: Amounts falling due within one year	8	(168,180)	(128,463)
Net current assets		832,608	644,536
Net assets		845,666	654,407
Capital and reserves
Called up share capital	9	10,700	10,700
Retained earnings		834,966	643,707
Shareholders' funds		845,666	654,407

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 29 October 2025 and signed on its behalf by:
 

......................................... L Venables Director

Walters & Co. (Oxford) Limited

Notes to the Financial Statements for the Year Ended 31 January 2025

1	General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
10 Turl Street
Oxford
OX1 3DN
United Kingdom

These financial statements were authorised for issue by the Board on 29 October 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention.

Going concern

The accounts have been prepared on a going concern basis on the assumption that the company will continue to have the financial support of its parent company.

Audit report

The Independent Auditor's Report was unqualified. The name of the Senior Statutory Auditor who signed the audit report on 29 October 2025 was Ajay Bahl BA BFP FCA, who signed for and on behalf of Wenn Townsend.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Walters & Co. (Oxford) Limited

Notes to the Financial Statements for the Year Ended 31 January 2025

Government grants

The company received government grants in respect of the Coronavirus Job Retention Scheme. These grants are recognised using the accruals model and as such are recorded in the profit and loss account in the period in which the company is entitled to such grants as a result of having furloughed staff members.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures, fittings and equipment	25% straight line
Computer Hardware	25% straight line
Improvement to leasehold properties	Over the remaining lease term

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Website	25% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Walters & Co. (Oxford) Limited

Notes to the Financial Statements for the Year Ended 31 January 2025

Stocks

Stock is valued at the lower of cost and net realisable value. A provision is made against the value of certain stock which has been held longer than 12 months. Provision is also made in respect of certain high fashion clothing and equipment due to their exceptional and rapid obsolescence.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Leases

Rentals payable under operating leases are charged in the profit and loss account on a straight line basis over the lease term.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

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.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 13 (2024 - 13).

Walters & Co. (Oxford) Limited

Notes to the Financial Statements for the Year Ended 31 January 2025

4	Intangible assets

	Internally generated software development costs  £	Total £
Cost or valuation
At 1 February 2024	7,762	7,762
At 31 January 2025	7,762	7,762
At 1 February 2024	3,881	3,881
Amortisation charge	1,940	1,940
At 31 January 2025	5,821	5,821
Carrying amount
At 31 January 2025	1,941	1,941
At 31 January 2024	3,881	3,881

Walters & Co. (Oxford) Limited

Notes to the Financial Statements for the Year Ended 31 January 2025

5	Tangible assets

	Improvements to leasehold property £	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 February 2024	14,950	50,087	65,037
Additions	-	10,641	10,641
Disposals	-	(4,072)	(4,072)
At 31 January 2025	14,950	56,656	71,606
Depreciation
At 1 February 2024	14,949	44,098	59,047
Charge for the year	-	5,510	5,510
Eliminated on disposal	-	(4,068)	(4,068)
At 31 January 2025	14,949	45,540	60,489
Carrying amount
At 31 January 2025	1	11,116	11,117
At 31 January 2024	1	5,989	5,990

6

Stocks

	2025 £	2024 £
Finished goods and goods for resale	322,874	347,670

7

Debtors

	Note	2025 £	2024 £
Trade debtors		-	103
Amounts owed by group companies		662,404	407,287
Other debtors		7,388	5,043
Prepayments and accrued income		-	4,717
Total current trade and other debtors		669,792	417,150

Walters & Co. (Oxford) Limited

Notes to the Financial Statements for the Year Ended 31 January 2025

8

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Trade creditors		13,261	25,209
Taxation and social security		5,297	8,712
Other creditors		14,684	1,440
Accruals and deferred income		74,214	53,855
Corporation tax		60,724	39,247
		168,180	128,463

9	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary Shares of £1 each	10,700	10,700	10,700	10,700

10	Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £105,245 (2024 - £196,093). This relates to future operating lease commitments,

11	Parent and ultimate parent undertaking

The company's immediate parent is Shepherd and Woodward Limited, incorporated in the United Kingdom.

  These financial statements are available upon request from
109 - 113 High Street,
Oxford
OX1 4BT