Fred Walter & Sons Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 00640486

FRED WALTER & SONS LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 December 2025

FRED WALTER & SONS LIMITED

STATEMENT OF FINANCIAL POSITION

31 December 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5		9,378,253	9,361,163

Current assets

Stocks		302,898	423,675
Debtors	6	283,556	372,855
Cash at bank and in hand		34,807	55
		----------	----------
		621,261	796,585

Creditors: amounts falling due within one year	7	( 907,206)		( 916,142)
		----------		----------
Net current liabilities			( 285,945)	( 119,557)
			-------------	-------------
Total assets less current liabilities			9,092,308	9,241,606

Creditors: amounts falling due after more than one year	8		( 3,040,607)	( 3,236,801)

Provisions

Taxation including deferred tax	( 1,866,282)	( 1,854,152)
	-------------	-------------
Net assets	4,185,419	4,150,653
	-------------	-------------

FRED WALTER & SONS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 December 2025

	2025		2024
Note	£	£	£

Capital and reserves

Called up share capital	5,631	5,631
Capital redemption reserve	769	769
Profit and loss account	4,179,019	4,144,253
	-------------	-------------
Shareholders funds	4,185,419	4,150,653
	-------------	-------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 December 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 14 April 2026 , and are signed on behalf of the board by:

C F Walter

Director

Company registration number: 00640486

FRED WALTER & SONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 DECEMBER 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Sutton Grange, Sutton - Cum - Lound, Retford, Nottinghamshire, DN22 6BL.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis and in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

The directors make estimates and assumptions about the future. These estimates and assumptions impact recognised assets and liabilities, as well as revenue and expenses and other disclosures. These estimates are based on historical experience and on various assumptions considered reasonable under the prevailing conditions. The actual outcome may diverge from these estimates if other assumptions are made, or other conditions arise. The estimates and assumptions that may have a significant effect on the carrying amounts of assets and liabilities within financial year include: - Tangible fixed assets are recognised at cost or valuation, less accumulated depreciation and any impairments. Depreciation takes place over the estimated useful life, down to the assessed residual value. The carrying amount of the company's fixed assets is tested as soon as changed conditions show that a need for impairment has arisen.

Revenue recognition

The turnover shown in the profit and loss account represents amounts invoiced during the year, net of trade discounts and exclusive of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated at cost (or deemed cost) less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price, the revaluation to deemed cost, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restoration costs and borrowing costs capitalised.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold buildings	-	4% straight line
Plant and machinery	-	15% reducing balance
Fixtures and fittings	-	10% straight line
Motor vehicles	-	20% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 10 (2024: 11 ).

5. Tangible assets

	Land and buildings	Plant and machinery	Fixtures and fittings	Motor vehicles	Total
	£	£	£	£	£
Cost or valuation
At 1 January 2025	8,136,592	2,753,782	14,637	99,224	11,004,235
Additions	–	680,834	–	–	680,834
Disposals	–	( 522,750)	–	–	( 522,750)
	-------------	-------------	---------	---------	--------------
At 31 December 2025	8,136,592	2,911,866	14,637	99,224	11,162,319
	-------------	-------------	---------	---------	--------------
Depreciation
At 1 January 2025	512,326	1,064,703	12,329	53,714	1,643,072
Charge for the year	48,020	260,595	1,263	9,102	318,980
Disposals	–	( 177,986)	–	–	( 177,986)
	-------------	-------------	---------	---------	--------------
At 31 December 2025	560,346	1,147,312	13,592	62,816	1,784,066
	-------------	-------------	---------	---------	--------------
Carrying amount
At 31 December 2025	7,576,246	1,764,554	1,045	36,408	9,378,253
	-------------	-------------	---------	---------	--------------
At 31 December 2024	7,624,266	1,689,079	2,308	45,510	9,361,163
	-------------	-------------	---------	---------	--------------

There are land and buildings with a deemed cost of £7,109,719 (2024: £7,109,719) on which depreciation is not charged. The buildings which are not subject to depreciation are part of the aggregated valuation on transition and the Directors are unable to satisfactorily identify the building element.

6. Debtors

	2025	2024
	£	£
Trade debtors	120,079	148,892
Other debtors	163,477	223,963
	----------	----------
	283,556	372,855
	----------	----------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	162,299	161,933
Trade creditors	134,656	124,267
Corporation tax	6,647	9,319
Social security and other taxes	19,385	89,950
Other creditors	584,219	530,673
	----------	----------
	907,206	916,142
	----------	----------

Bank loan and overdrafts of £162,299 (2024: £161,933) are secured against the assets of the company.

Included within other creditors are hire purchase liabilities of £361,364 (2024: £306,593) which are secured against the assets to which they relate.

8. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	2,517,449	2,683,477
Other creditors	523,158	553,324
	-------------	-------------
	3,040,607	3,236,801
	-------------	-------------

Bank loan and overdrafts of £2,517,449 (2024: £2,683,477) are secured against the assets of the company.

Other creditors are hire purchase liabilities of £523,158 (2024: £553,324) which are secured against the assets to which they relate.

Included within creditors falling due after more than one year is an amount of £1,818,905 (2024: £2,078,326) in respect of liabilities which fall due for payment after more than five years from the balance sheet date.

9. Reserves

The Profit and loss account reserve includes unrealised reserves in relation to a revaluation of assets, net of deferred tax, of £3,829,608 (2024: £3,829,608).

10. Contingencies

The company has received capital grants which are subject to certain terms and conditions, breach of which may render the grants wholly or partially repayable. In the opinion of the directors such a repayment is remote.

11. Directors' advances, credits and guarantees

There have been no advances credits to or guarantees given by the directors during the year.

12. Related party transactions

The company is a wholly owned subsidiary of Sutton Grange Farming Ltd. The Walter family hold all of the shares in Sutton Grange Farming Ltd however no one individual controls the group. No transactions arose which are required to be disclosed under FRS 102 (Section 1A).