Walford Timber Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 01136632 (England and Wales)

WALFORD TIMBER LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST OCTOBER 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G E Smith

G T Smith

N J Smith

J A Read

SECRETARY:

G T Smith

REGISTERED OFFICE:

The Sawmills

Walford

Ross-on-wye

Herefordshire

HR9 5QS

REGISTERED NUMBER:

01136632 (England and Wales)

ACCOUNTANTS:

Green & Co

Accountants and Tax Advisors

Pembroke House

Llantarnam Park Way

Cwmbran

Torfaen

NP44 3AU

FIXED ASSETS

Tangible assets

4

1,292,078

1,179,222

CURRENT ASSETS

Stocks

1,593,891

1,415,612

Debtors

5

551,290

450,905

Cash at bank and in hand

993,945

1,414,990

3,139,126

3,281,507

CREDITORS

Amounts falling due within one year

6

1,169,002

1,098,524

NET CURRENT ASSETS

1,970,124

2,182,983

TOTAL ASSETS LESS CURRENT LIABILITIES

3,262,202

3,362,205

CREDITORS

Amounts falling due after more than one
year

7

(177,327

)

(272,735

)

PROVISIONS FOR LIABILITIES

(131,220

)

(115,846

)

NET ASSETS

2,953,655

2,973,624

CAPITAL AND RESERVES

Called up share capital

8

10,000

Revaluation reserve

9

114,315

Retained earnings

2,829,340

2,849,309

SHAREHOLDERS' FUNDS

2,953,655

2,973,624

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st October 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 Profit and Loss has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19th June 2026 and were signed on its behalf by:

G T Smith - Director

1.	STATUTORY INFORMATION

Walford Timber 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.

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 as modified by the revaluation of certain assets.

Changes in accounting policies

There has been a change in accounting policy in PPE for Freehold property, to switch from the cost model to the revaluation model, in accordance with IAS16. This change was made following an independent valuation of the property in January 2025. The revaluation has increased the carrying value in the financial statements by £141,130.

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 the cost less estimated residual value of each asset over its estimated useful life.

Freehold property - 2% on cost (excluding land)

Short leasehold - 3% on reducing balance

Plant and machinery - 15% on reducing balance

Computer equipment - 15% on reducing balance

Motor vehicles - 25% on reducing balance

Software - 15% on reducing balance

Fixtures and fittings - 20% on reducing balance

Freehold property has applied the revaluation model from 01/11/2023.

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 Profit and Loss, 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

Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets and depreciated over their useful lives. Rentals paid under operating leases are charged to the profit and loss account 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 49 (2024 - 43 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Short

and

Plant and

property

leasehold

fittings

machinery

£

COST OR VALUATION

At 1st November 2024

300,000

899,666

28,234

1,428,510

Additions

-

11,212

652

149,001

Disposals

-

(50,000

)

At 31st October 2025

300,000

910,878

28,886

1,527,511

DEPRECIATION

At 1st November 2024

-

521,201

8,904

1,100,451

Charge for year

4,560

11,494

3,975

50,440

Eliminated on disposal

-

(43,157

)

At 31st October 2025

4,560

532,695

12,879

1,107,734

NET BOOK VALUE

At 31st October 2025

295,440

378,183

16,007

419,777

At 31st October 2024

300,000

378,465

19,330

328,059

Motor

Computer

Software

vehicles

equipment

Totals

£

COST OR VALUATION

At 1st November 2024

31,750

213,681

102,897

3,004,738

Additions

-

120,476

14,015

295,356

Disposals

-

(92,516

)

-

(142,516

)

At 31st October 2025

31,750

241,641

116,912

3,157,578

DEPRECIATION

At 1st November 2024

20,823

106,245

67,892

1,825,516

Charge for year

1,639

32,276

6,177

110,561

Eliminated on disposal

-

(27,420

)

-

(70,577

)

At 31st October 2025

22,462

111,101

74,069

1,865,500

NET BOOK VALUE

At 31st October 2025

9,288

130,540

42,843

1,292,078

At 31st October 2024

10,927

107,436

35,005

1,179,222

Cost or valuation at 31st October 2025 is represented by:

Fixtures

Freehold

Short

and

Plant and

property

leasehold

fittings

machinery

£

Valuation in 2024

107,885

-

Cost

192,115

910,878

28,886

1,527,511

300,000

910,878

28,886

1,527,511

Motor

Computer

Software

vehicles

equipment

Totals

£

Valuation in 2024

-

107,885

Cost

31,750

241,641

116,912

3,049,693

31,750

241,641

116,912

3,157,578

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

COST OR VALUATION

At 1st November 2024

230,695

26,056

256,751

Additions

-

58,833

Disposals

-

(26,056

)

(26,056

)

Transfer to ownership

(90,375

)

-

(90,375

)

At 31st October 2025

140,320

58,833

199,153

DEPRECIATION

At 1st November 2024

94,459

9,364

103,823

Charge for year

14,066

6,816

20,882

Transfer to ownership

(47,916

)

(9,364

)

(57,280

)

At 31st October 2025

60,609

6,816

67,425

NET BOOK VALUE

At 31st October 2025

79,711

52,017

131,728

At 31st October 2024

136,236

16,692

152,928

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

497,134

403,660

Prepayments

54,156

47,245

551,290

450,905

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Bank loans and overdrafts

89,054

100,872

Hire purchase contracts

45,794

42,536

Trade creditors

920,625

799,665

Corporation Tax

-

4,571

Social security and other taxes

32,813

21,452

VAT

36,012

66,929

Other creditors

7,451

11,552

Directors' current accounts

16,641

5,214

Accruals and deferred income

20,612

45,733

1,169,002

1,098,524

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

Bank loans - 1-5 years

136,737

230,641

Hire purchase contracts

40,590

42,094

177,327

272,735

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

1,500

Ordinary A

£1

1,500

Ordinary B

£1

1,500

5,100

Ordinary C

£1

5,100

900

Ordinary D

£1

900

1,000

Ordinary E

£1

1,000

10,000

9.

RESERVES

Revaluation

reserve

£

At 1st November 2024

and 31st October 2025

114,315

10.	RELATED PARTY DISCLOSURES

The land at Walford, Herefordshire from which the company operates is owned by G T Smith and N J Smith. The company has a lease over the property, of which rent of £108,000 (2024 - £108,000) has been paid during the year.