Registration number: NI010712

Walter Young Ltd

(Registration number: NI010712)
Balance Sheet as at 30 June 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	73,303	83,506
Current assets
Stocks	5	247,312	224,313
Debtors	6	71,490	48,724
Cash at bank and in hand		260	6,137
		319,062	279,174
Creditors: Amounts falling due within one year	7	(407,905)	(291,675)
Net current liabilities		(88,843)	(12,501)
Total assets less current liabilities		(15,540)	71,005
Creditors: Amounts falling due after more than one year	7	(520)	(11,670)
Net (liabilities)/assets		(16,060)	59,335
Capital and reserves
Called up share capital	9	50,000	50,000
Retained earnings		(66,060)	9,335
Shareholders' (deficit)/funds		(16,060)	59,335

For the financial year ending 30 June 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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.

Walter Young Ltd

(Registration number: NI010712)
Balance Sheet as at 30 June 2025

Approved and authorised by the Board on 30 June 2026 and signed on its behalf by:
 

.............................................. Mr Mark David Young Director

Walter Young Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

1	General information

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

The address of its registered office is: 51 Main Street, Broughshane, Ballymena, BT42 4JP.

These financial statements were authorised for issue by the Board on 30 June 2026.

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 except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The Company has reported a loss in the year which has resulted in a net current liability position. The Directors were aware that improvements were necessary, and since the year end have reviewed and implemented a number of measures to boost revenues and operating profitability. They are encouraged by the performance since the balance sheet date and are confident that results will continue to improve for the foreseeable future.

Revenue recognition

Turnover, which excludes value added tax and trade discounts, is measured at the fair value of consideration received or receivable and represents the invoiced value of goods and services supplied. Turnover from the sale of goods is recognised when the Company has completed its performance obligations under the terms of the sale which is typically upon goods delivery and at which the point the risks and rewards associated with the ownership of the goods have passed to the purchaser. Turnover from the rendering of services is recognised on completion of the work, at which point the Company has earned entitlement to the consideration.

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.

Walter Young Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

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
Property Alterations	2.5% per annum straight line basis
Equipment and fittings	20% per annum reducing balance basis
Motor vehicles	15% per annum straight line basis

Short-term debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in operating expenses.

Stock

Stocks and work in progress are valued at the lower of cost and net realisable value with provision made for obsolete and slow-moving items. Net realisable value is calculated as expected selling price, less costs to completion. Cost is based on purchase price including related delivery and conversion costs. Raw material stock is valued on a ‘first-in, first-out’ basis.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Pension scheme

The Company pension scheme is a defined contribution insured scheme operated by a life assurance company and is available to all staff. The assets of the scheme are held separately from those of the Company in an independently administered fund. The premiums payable by the Company are charged in the accounts in the year in which they are paid.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 12 (2024 - 9).

Walter Young Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

4	Tangible assets

	Property Alterations £	Plant and equipment £	Total £
Cost or valuation
At 1 July 2024	184,286	383,598	567,884
Additions	-	746	746
At 30 June 2025	184,286	384,344	568,630
Depreciation
At 1 July 2024	133,287	351,091	484,378
Charge for the year	4,298	6,651	10,949
At 30 June 2025	137,585	357,742	495,327
Carrying amount
At 30 June 2025	46,701	26,602	73,303
At 30 June 2024	50,999	32,507	83,506

5

Stocks

	2025 £	2024 £
Stock of goods for resale	247,312	224,313

Walter Young Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2025

6

Debtors

	2025 £	2024 £
Trade debtors	34,201	44,497
Prepayments	4,227	4,227
Other debtors	33,062	-
	71,490	48,724

7	Creditors: due within one year

	2025 £	2024 £
Bank loan	36,430	10,000
Trade creditors	156,687	198,808
Amounts owed to group undertakings	156,815	-
Taxation and social security	25,615	35,521
Accruals	5,358	6,346
Other creditors	27,000	41,000
	407,905	291,675