REGISTERED NUMBER: 06466859 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

WALNES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A T Cooper

Mrs J E Golder

SECRETARY:

Mrs J E Golder

REGISTERED OFFICE:

89 High Street

Hadleigh

Ipswich

Suffolk

IP7 5EA

REGISTERED NUMBER:

06466859 (England and Wales)

ACCOUNTANTS:

Walter Wright

Chartered Accountants

89 High Street

Hadleigh

Ipswich

Suffolk

IP7 5EA

FIXED ASSETS

Intangible assets

4

4,715

6,150

Tangible assets

5

2,731,085

2,739,611

Investments

6

22,185

22,085

2,757,985

2,767,846

CURRENT ASSETS

Stocks

792,500

840,387

Debtors: amounts falling due within one year

7

519,316

368,464

Debtors: amounts falling due after more than one year

7

2,519,724

-

Cash at bank and in hand

954,776

1,060,955

4,786,316

2,269,806

CREDITORS

Amounts falling due within one year

8

1,518,931

1,233,612

NET CURRENT ASSETS

3,267,385

1,036,194

TOTAL ASSETS LESS CURRENT LIABILITIES

6,025,370

3,804,040

CREDITORS

Amounts falling due after more than one year

9

(1,401,000

)

(77,227

)

PROVISIONS FOR LIABILITIES

(137,711

)

(134,549

)

NET ASSETS

4,486,659

3,592,264

CAPITAL AND RESERVES

Called up share capital

930

930

Share premium

11

44,930

44,930

Capital redemption reserve

11

286,385

286,385

Retained earnings

11

4,154,414

3,260,019

SHAREHOLDERS' FUNDS

4,486,659

3,592,264

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 5 December 2025 and were signed on its behalf by:

A T Cooper - Director

1.	STATUTORY INFORMATION

Walnes 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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 sales of goods and services, is recognised on dispatch of the goods or provision of the service and excludes value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of five 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.

Computer software is being amortised evenly over its estimated useful life of two years.

Tangible fixed assets

The directors consider that the freehold property is maintained in such a state of repair that its residual value is at least equal to the net book value. As a result the corresponding depreciation would not be material and therefore is not charged in the profit & loss account. The directors perform an annual impairment review to ensure that the recoverable amount is not lower than the carrying value.

The value of solar panels is included in the cost of the freehold property. These are being depreciated over the next 15 years on a straight line basis of £7,833 per year.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

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

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2024 - 16 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 April 2024

9,500

16,215

25,715

Additions

-

3,280

3,280

At 31 March 2025

9,500

19,495

28,995

AMORTISATION

At 1 April 2024

9,500

10,065

19,565

Charge for year

-

4,715

4,715

At 31 March 2025

9,500

14,780

24,280

NET BOOK VALUE

At 31 March 2025

-

4,715

4,715

At 31 March 2024

-

6,150

6,150

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2024

2,536,529

616,882

3,153,411

Additions

-

88,191

88,191

Disposals

-

(69,609

)

(69,609

)

At 31 March 2025

2,536,529

635,464

3,171,993

DEPRECIATION

At 1 April 2024

57,366

356,434

413,800

Charge for year

9,094

65,249

74,343

Eliminated on disposal

-

(47,235

)

(47,235

)

At 31 March 2025

66,460

374,448

440,908

NET BOOK VALUE

At 31 March 2025

2,470,069

261,016

2,731,085

At 31 March 2024

2,479,163

260,448

2,739,611

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2024

22,085

Additions

100

At 31 March 2025

22,185

NET BOOK VALUE

At 31 March 2025

22,185

At 31 March 2024

22,085

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Suffolk Seed Laboratory Ltd

Registered office: 89 High Street, Hadleigh, Ipswich, Suffolk. IP7 5EA

Nature of business: Seed testing

%

Class of shares:

holding

Ordinary

100.00

2025

2024

£

£

Aggregate capital and reserves

271,843

229,897

Profit for the year

41,273

21,875

Walnes Farms Ltd

Registered office: 89 High Street, Hadleigh, Ipswich, Suffolk. IP7 5EA

Nature of business: Property rental

%

Class of shares:

holding

Ordinary £1

100.00

2025

£

Aggregate capital and reserves

421

Profit for the year

321

7.

DEBTORS

2025

2024

£

£

Amounts falling due within one year:

Trade debtors

478,250

335,960

Other debtors

41,066

32,504

519,316

368,464

Amounts falling due after more than one year:

Amounts owed by group undertakings

2,519,724

-

Aggregate amounts

3,039,040

368,464

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loan

99,000

-

Hire purchase contracts

-

11,737

Trade creditors

684,056

606,144

Amounts owed to group undertakings

3,352

585

Taxation and social security

279,064

253,661

Other creditors

453,459

361,485

1,518,931

1,233,612

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loan

1,401,000

-

Hire purchase contracts

-

2,934

Other creditors

-

74,293

1,401,000

77,227

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Bank loan

1,500,000

-

Hire purchase contracts

-

14,671

1,500,000

14,671

11.

RESERVES

Capital

Retained

Share

redemption

earnings

premium

reserve

Totals

£

£

£

£

At 1 April 2024

3,260,019

44,930

286,385

3,591,334

Profit for the year

959,495

-

-

959,495

Dividends

(65,100

)

-

-

(65,100

)

At 31 March 2025

4,154,414

44,930

286,385

4,485,729

The capital redemption reserve is not distributable.