walker's shortbread ltd
walker's shortbread ltd Company Information
Company Number
SC063233
Next Accounts
Sep 2025
Shareholders
trustees of acting under declaration of trust by joseph walker dated 16 march 1990
joseph nicol walker
View AllGroup Structure
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Industry
Manufacture of rusks and biscuits; manufacture of preserved pastry goods and cakes
Registered Address
aberlour house, aberlour-on-spey, banffshire, AB38 9LD
Website
www.walkersshortbread.comwalker's shortbread ltd Estimated Valuation
Pomanda estimates the enterprise value of WALKER'S SHORTBREAD LTD at £178m based on a Turnover of £183.8m and 0.97x industry multiple (adjusted for size and gross margin).
walker's shortbread ltd Estimated Valuation
Pomanda estimates the enterprise value of WALKER'S SHORTBREAD LTD at £103.8m based on an EBITDA of £15.2m and a 6.84x industry multiple (adjusted for size and gross margin).
walker's shortbread ltd Estimated Valuation
Pomanda estimates the enterprise value of WALKER'S SHORTBREAD LTD at £246.5m based on Net Assets of £110m and 2.24x industry multiple (adjusted for liquidity).
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Walker's Shortbread Ltd Overview
Walker's Shortbread Ltd is a live company located in banffshire, AB38 9LD with a Companies House number of SC063233. It operates in the manufacture of rusks and biscuits sector, SIC Code 10720. Founded in October 1977, it's largest shareholder is trustees of acting under declaration of trust by joseph walker dated 16 march 1990 with a 18.5% stake. Walker's Shortbread Ltd is a mature, mega sized company, Pomanda has estimated its turnover at £183.8m with healthy growth in recent years.
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Walker's Shortbread Ltd Health Check
Pomanda's financial health check has awarded Walker'S Shortbread Ltd a 5 rating. We use a traffic light system to show it exceeds the industry average on 6 measures and has 2 areas for improvement. Company Health Check FAQs
6 Strong
4 Regular
2 Weak
Size
annual sales of £183.8m, make it larger than the average company (£25.5m)
£183.8m - Walker's Shortbread Ltd
£25.5m - Industry AVG
Growth
3 year (CAGR) sales growth of 12%, show it is growing at a similar rate (10.9%)
12% - Walker's Shortbread Ltd
10.9% - Industry AVG
Production
with a gross margin of 12.3%, this company has a higher cost of product (20.8%)
12.3% - Walker's Shortbread Ltd
20.8% - Industry AVG
Profitability
an operating margin of 7.2% make it more profitable than the average company (0.2%)
7.2% - Walker's Shortbread Ltd
0.2% - Industry AVG
Employees
with 1210 employees, this is above the industry average (222)
1210 - Walker's Shortbread Ltd
222 - Industry AVG
Pay Structure
on an average salary of £34.4k, the company has an equivalent pay structure (£32.3k)
£34.4k - Walker's Shortbread Ltd
£32.3k - Industry AVG
Efficiency
resulting in sales per employee of £151.9k, this is more efficient (£123.4k)
£151.9k - Walker's Shortbread Ltd
£123.4k - Industry AVG
Debtor Days
it gets paid by customers after 53 days, this is near the average (53 days)
53 days - Walker's Shortbread Ltd
53 days - Industry AVG
Creditor Days
its suppliers are paid after 10 days, this is quicker than average (45 days)
10 days - Walker's Shortbread Ltd
45 days - Industry AVG
Stock Days
it holds stock equivalent to 42 days, this is in line with average (38 days)
42 days - Walker's Shortbread Ltd
38 days - Industry AVG
Cash Balance
has cash to cover current liabilities for 108 weeks, this is more cash available to meet short term requirements (5 weeks)
108 weeks - Walker's Shortbread Ltd
5 weeks - Industry AVG
Debt Level
it has a ratio of liabilities to total assets of 12.5%, this is a lower level of debt than the average (55%)
12.5% - Walker's Shortbread Ltd
55% - Industry AVG
WALKER'S SHORTBREAD LTD financials
Walker'S Shortbread Ltd's latest turnover from December 2023 is £183.8 million and the company has net assets of £110 million. According to their latest financial statements, Walker'S Shortbread Ltd has 1,210 employees and maintains cash reserves of £27.4 million as reported in the balance sheet.
Data source: Companies House, Pomanda Estimates
| Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | Dec 2014 | Dec 2013 | Dec 2012 | Dec 2011 | Dec 2010 | Dec 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Turnover | 183,813,000 | 164,632,000 | 142,395,000 | 132,410,000 | 148,808,000 | 146,976,000 | 143,116,000 | 138,743,000 | 139,360,000 | 136,890,000 | 137,139,000 | 123,697,000 | 119,113,000 | 106,288,000 | 100,318,000 |
| Other Income Or Grants | |||||||||||||||
| Cost Of Sales | 161,135,000 | 150,739,000 | 128,700,000 | 121,862,000 | 135,235,000 | 133,458,000 | 131,822,000 | 120,020,000 | 121,599,000 | 121,243,000 | 118,618,000 | 103,874,000 | 105,808,000 | 93,132,000 | 86,234,000 |
| Gross Profit | 22,678,000 | 13,893,000 | 13,695,000 | 10,548,000 | 13,573,000 | 13,518,000 | 11,294,000 | 18,723,000 | 17,761,000 | 15,647,000 | 18,521,000 | 19,823,000 | 13,305,000 | 13,156,000 | 14,084,000 |
| Admin Expenses | 9,541,000 | 7,889,000 | 7,496,000 | 7,581,000 | 6,749,000 | 6,355,000 | 6,176,000 | 5,922,000 | 5,793,000 | 5,294,000 | 5,284,000 | 5,220,000 | 4,686,000 | 4,467,000 | 4,121,000 |
| Operating Profit | 13,137,000 | 6,004,000 | 6,199,000 | 2,967,000 | 6,824,000 | 7,163,000 | 5,118,000 | 12,801,000 | 11,968,000 | 10,353,000 | 13,237,000 | 14,603,000 | 8,619,000 | 8,689,000 | 9,963,000 |
| Interest Payable | 2,000 | 81,000 | 1,000 | 1,000 | 1,059,000 | 1,056,000 | 1,169,000 | 1,152,000 | 1,251,000 | 1,107,000 | 1,185,000 | 1,151,000 | 1,103,000 | 937,000 | |
| Interest Receivable | 1,026,000 | 160,000 | 33,000 | 78,000 | 165,000 | 1,094,000 | 1,045,000 | 1,182,000 | 1,111,000 | 1,267,000 | 1,475,000 | 1,238,000 | 1,466,000 | 1,291,000 | 874,000 |
| Pre-Tax Profit | 14,800,000 | 5,095,000 | 6,782,000 | 3,565,000 | 7,638,000 | 7,009,000 | 5,070,000 | 12,886,000 | 11,929,000 | 10,397,000 | 14,473,000 | 14,631,000 | 8,932,000 | 8,902,000 | 9,778,000 |
| Tax | -3,564,000 | -1,237,000 | -1,821,000 | -1,014,000 | -1,475,000 | -1,754,000 | -1,251,000 | -2,871,000 | -2,659,000 | -2,433,000 | -3,289,000 | -3,650,000 | -2,454,000 | -2,909,000 | -2,989,000 |
| Profit After Tax | 11,236,000 | 3,858,000 | 4,961,000 | 2,551,000 | 6,163,000 | 5,255,000 | 3,819,000 | 10,015,000 | 9,270,000 | 7,964,000 | 11,184,000 | 10,981,000 | 6,478,000 | 5,993,000 | 6,789,000 |
| Dividends Paid | 3,989,000 | 6,034,000 | 1,865,000 | 1,348,000 | 2,381,000 | 1,066,000 | 3,981,000 | 3,800,000 | 3,333,000 | 4,025,000 | 4,075,000 | 2,813,000 | 2,792,000 | 2,942,000 | 3,700,000 |
| Retained Profit | 7,247,000 | -2,176,000 | 3,096,000 | 1,203,000 | 3,782,000 | 4,189,000 | -162,000 | 6,215,000 | 5,937,000 | 3,939,000 | 7,109,000 | 8,168,000 | 3,686,000 | 3,051,000 | 3,089,000 |
| Employee Costs | 41,587,000 | 38,956,000 | 38,164,000 | 39,708,000 | 38,737,000 | 37,545,000 | 37,605,000 | 35,561,000 | 35,418,000 | 33,547,000 | 31,614,000 | 28,703,000 | 27,643,000 | 25,900,000 | 23,759,000 |
| Number Of Employees | 1,210 | 1,253 | 1,252 | 1,370 | 1,414 | 1,439 | 1,478 | 1,459 | 1,463 | 1,450 | 1,394 | 1,326 | 1,302 | 1,224 | 1,155 |
| EBITDA* | 15,165,000 | 8,141,000 | 8,235,000 | 4,852,000 | 8,722,000 | 9,205,000 | 7,370,000 | 15,185,000 | 14,412,000 | 12,712,000 | 15,656,000 | 16,972,000 | 10,986,000 | 11,282,000 | 12,626,000 |
* Earnings Before Interest, Tax, Depreciation and Amortisation
| Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | Dec 2014 | Dec 2013 | Dec 2012 | Dec 2011 | Dec 2010 | Dec 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Tangible Assets | 25,736,000 | 27,004,000 | 27,988,000 | 29,271,000 | 26,321,000 | 27,305,000 | 28,425,000 | 29,950,000 | 31,013,000 | 31,047,000 | 30,906,000 | 28,495,000 | 27,103,000 | 26,010,000 | 26,758,000 |
| Intangible Assets | 221,000 | 444,000 | 667,000 | 923,000 | |||||||||||
| Investments & Other | 7,513,000 | 658,000 | |||||||||||||
| Debtors (Due After 1 year) | 68,000 | 58,000 | 91,000 | 81,000 | 110,000 | 35,000 | 45,000 | 16,000 | 12,000 | 11,000 | |||||
| Total Fixed Assets | 33,317,000 | 27,004,000 | 27,988,000 | 29,271,000 | 26,321,000 | 27,363,000 | 28,516,000 | 30,689,000 | 31,123,000 | 31,047,000 | 30,941,000 | 28,761,000 | 27,563,000 | 26,689,000 | 27,692,000 |
| Stock & work in progress | 18,766,000 | 16,517,000 | 16,263,000 | 19,051,000 | 21,180,000 | 17,414,000 | 16,445,000 | 13,946,000 | 13,928,000 | 13,092,000 | 13,110,000 | 10,947,000 | 9,464,000 | 9,034,000 | 7,717,000 |
| Trade Debtors | 27,123,000 | 27,252,000 | 23,767,000 | 20,848,000 | 24,212,000 | 29,123,000 | 28,080,000 | 24,942,000 | 25,045,000 | 27,731,000 | 25,207,000 | 23,206,000 | 22,513,000 | 20,420,000 | 17,537,000 |
| Group Debtors | |||||||||||||||
| Misc Debtors | 5,332,000 | 3,375,000 | 3,970,000 | 4,098,000 | 4,715,000 | 2,774,000 | 3,956,000 | 2,527,000 | 3,158,000 | 4,334,000 | 2,961,000 | 2,234,000 | 2,795,000 | 2,914,000 | 1,490,000 |
| Cash | 27,358,000 | 24,583,000 | 26,752,000 | 23,852,000 | 20,906,000 | 25,514,000 | 21,271,000 | 33,825,000 | 26,071,000 | 19,024,000 | 18,208,000 | 17,525,000 | 12,231,000 | 11,475,000 | 12,625,000 |
| misc current assets | 13,735,000 | 13,098,000 | 14,165,000 | 13,534,000 | 12,986,000 | 7,299,000 | 7,502,000 | ||||||||
| total current assets | 92,314,000 | 84,825,000 | 84,917,000 | 81,383,000 | 83,999,000 | 82,124,000 | 77,254,000 | 75,240,000 | 68,202,000 | 64,181,000 | 59,486,000 | 53,912,000 | 47,003,000 | 43,843,000 | 39,369,000 |
| total assets | 125,631,000 | 111,829,000 | 112,905,000 | 110,654,000 | 110,320,000 | 109,487,000 | 105,770,000 | 105,929,000 | 99,325,000 | 95,228,000 | 90,427,000 | 82,673,000 | 74,566,000 | 70,532,000 | 67,061,000 |
| Bank overdraft | |||||||||||||||
| Bank loan | |||||||||||||||
| Trade Creditors | 4,516,000 | 4,555,000 | 4,542,000 | 3,957,000 | 4,371,000 | 4,615,000 | 5,879,000 | 2,266,000 | 3,058,000 | 3,486,000 | 3,554,000 | 2,894,000 | 3,108,000 | 2,990,000 | 2,005,000 |
| Group/Directors Accounts | |||||||||||||||
| other short term finances | |||||||||||||||
| hp & lease commitments | |||||||||||||||
| other current liabilities | 8,648,000 | 10,728,000 | 8,403,000 | 8,333,000 | 9,289,000 | 11,938,000 | 8,668,000 | 16,345,000 | 10,810,000 | 11,625,000 | 11,087,000 | 9,887,000 | 8,421,000 | 7,784,000 | 8,106,000 |
| total current liabilities | 13,164,000 | 15,283,000 | 12,945,000 | 12,290,000 | 13,660,000 | 16,553,000 | 14,547,000 | 18,611,000 | 13,868,000 | 15,111,000 | 14,641,000 | 12,781,000 | 11,529,000 | 10,774,000 | 10,111,000 |
| loans | 145,000 | ||||||||||||||
| hp & lease commitments | |||||||||||||||
| Accruals and Deferred Income | 126,000 | 141,000 | 159,000 | 178,000 | 201,000 | ||||||||||
| other liabilities | |||||||||||||||
| provisions | 2,365,000 | 1,653,000 | 1,609,000 | 99,000 | 748,000 | 581,000 | 835,000 | 479,000 | 347,000 | 1,174,000 | 1,345,000 | 1,543,000 | 1,580,000 | 1,531,000 | |
| total long term liabilities | 2,491,000 | 1,794,000 | 1,768,000 | 7,194,000 | 2,608,000 | 2,031,000 | 2,845,000 | 4,325,000 | 4,495,000 | 5,256,000 | 3,003,000 | 5,098,000 | 6,114,000 | 3,283,000 | 3,882,000 |
| total liabilities | 15,655,000 | 17,077,000 | 14,713,000 | 19,484,000 | 16,268,000 | 18,584,000 | 17,392,000 | 22,936,000 | 18,363,000 | 20,367,000 | 17,644,000 | 17,879,000 | 17,643,000 | 14,057,000 | 13,993,000 |
| net assets | 109,976,000 | 94,752,000 | 98,192,000 | 91,170,000 | 94,052,000 | 90,903,000 | 88,378,000 | 82,993,000 | 80,962,000 | 74,861,000 | 72,783,000 | 64,794,000 | 56,923,000 | 56,475,000 | 53,068,000 |
| total shareholders funds | 109,976,000 | 94,752,000 | 98,192,000 | 91,170,000 | 94,052,000 | 90,903,000 | 88,378,000 | 82,993,000 | 80,962,000 | 74,861,000 | 72,783,000 | 64,794,000 | 56,923,000 | 56,475,000 | 53,068,000 |
| Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | Dec 2014 | Dec 2013 | Dec 2012 | Dec 2011 | Dec 2010 | Dec 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||||||||
| Operating Profit | 13,137,000 | 6,004,000 | 6,199,000 | 2,967,000 | 6,824,000 | 7,163,000 | 5,118,000 | 12,801,000 | 11,968,000 | 10,353,000 | 13,237,000 | 14,603,000 | 8,619,000 | 8,689,000 | 9,963,000 |
| Depreciation | 2,028,000 | 2,137,000 | 2,036,000 | 1,885,000 | 1,898,000 | 2,042,000 | 2,252,000 | 2,384,000 | 2,444,000 | 2,359,000 | 2,198,000 | 2,146,000 | 2,144,000 | 2,337,000 | 2,374,000 |
| Amortisation | 221,000 | 223,000 | 223,000 | 256,000 | 289,000 | ||||||||||
| Tax | -3,564,000 | -1,237,000 | -1,821,000 | -1,014,000 | -1,475,000 | -1,754,000 | -1,251,000 | -2,871,000 | -2,659,000 | -2,433,000 | -3,289,000 | -3,650,000 | -2,454,000 | -2,909,000 | -2,989,000 |
| Stock | 2,249,000 | 254,000 | -2,788,000 | -2,129,000 | 3,766,000 | 969,000 | 2,499,000 | 18,000 | 836,000 | -18,000 | 2,163,000 | 1,483,000 | 430,000 | 1,317,000 | 7,717,000 |
| Debtors | 1,896,000 | 2,890,000 | 2,791,000 | -3,981,000 | -3,028,000 | -172,000 | 4,577,000 | -763,000 | -3,752,000 | 3,862,000 | 2,718,000 | 161,000 | 1,978,000 | 4,308,000 | 19,038,000 |
| Creditors | -39,000 | 13,000 | 585,000 | -414,000 | -244,000 | -1,264,000 | 3,613,000 | -792,000 | -428,000 | -68,000 | 660,000 | -214,000 | 118,000 | 985,000 | 2,005,000 |
| Accruals and Deferred Income | -2,095,000 | 2,307,000 | 51,000 | -979,000 | -2,448,000 | 3,270,000 | -7,677,000 | 5,535,000 | -815,000 | 538,000 | 1,200,000 | 1,466,000 | 637,000 | -322,000 | 8,106,000 |
| Deferred Taxes & Provisions | 712,000 | 44,000 | 1,510,000 | -649,000 | 167,000 | -254,000 | 835,000 | -479,000 | 132,000 | -827,000 | -171,000 | -198,000 | -37,000 | 49,000 | 1,531,000 |
| Cash flow from operations | 6,034,000 | 6,124,000 | 8,557,000 | 7,906,000 | 3,984,000 | 8,406,000 | -4,186,000 | 17,323,000 | 13,558,000 | 6,078,000 | 9,175,000 | 12,732,000 | 6,842,000 | 3,460,000 | -5,476,000 |
| Investing Activities | |||||||||||||||
| capital expenditure | -670,000 | -8,366,000 | -1,077,000 | -1,534,000 | -2,605,000 | -4,604,000 | -3,833,000 | -2,694,000 | -2,101,000 | -3,210,000 | |||||
| Change in Investments | 7,513,000 | -658,000 | 658,000 | ||||||||||||
| cash flow from investments | -7,513,000 | -670,000 | -7,708,000 | -1,735,000 | -1,534,000 | -2,605,000 | -4,604,000 | -3,833,000 | -2,694,000 | -2,101,000 | -3,210,000 | ||||
| Financing Activities | |||||||||||||||
| Bank loans | |||||||||||||||
| Group/Directors Accounts | |||||||||||||||
| Other Short Term Loans | |||||||||||||||
| Long term loans | -145,000 | 145,000 | |||||||||||||
| Hire Purchase and Lease Commitments | |||||||||||||||
| other long term liabilities | |||||||||||||||
| share issue | |||||||||||||||
| interest | 1,026,000 | 158,000 | -48,000 | 77,000 | 164,000 | 35,000 | -11,000 | 13,000 | -41,000 | 16,000 | 368,000 | 53,000 | 315,000 | 188,000 | -63,000 |
| cash flow from financing | 9,003,000 | -1,106,000 | 3,878,000 | -4,008,000 | -469,000 | -1,629,000 | 5,536,000 | -4,171,000 | 123,000 | -1,845,000 | 1,248,000 | -244,000 | -2,923,000 | 399,000 | 50,061,000 |
| cash and cash equivalents | |||||||||||||||
| cash | 2,775,000 | -2,169,000 | 2,900,000 | 2,946,000 | -4,608,000 | 4,243,000 | -12,554,000 | 7,754,000 | 7,047,000 | 816,000 | 683,000 | 5,294,000 | 756,000 | -1,150,000 | 12,625,000 |
| overdraft | |||||||||||||||
| change in cash | 2,775,000 | -2,169,000 | 2,900,000 | 2,946,000 | -4,608,000 | 4,243,000 | -12,554,000 | 7,754,000 | 7,047,000 | 816,000 | 683,000 | 5,294,000 | 756,000 | -1,150,000 | 12,625,000 |
walker's shortbread ltd Credit Report and Business Information
Walker's Shortbread Ltd Competitor Analysis
Perform a competitor analysis for walker's shortbread ltd by selecting its closest rivals, whether from the MANUFACTURING sector, other mega companies, companies in AB38 area or any other competitors across 12 key performance metrics.
walker's shortbread ltd Ownership
WALKER'S SHORTBREAD LTD group structure
Walker'S Shortbread Ltd has 1 subsidiary company.
Ultimate parent company
WALKER'S SHORTBREAD LTD
SC063233
1 subsidiary
walker's shortbread ltd directors
Walker'S Shortbread Ltd currently has 7 directors. The longest serving directors include Mr Richard Walker (Dec 2007) and Mr Joseph Walker (Dec 2007).
| officer | country | age | start | end | role |
|---|---|---|---|---|---|
| Mr Richard Walker | Scotland | 52 years | Dec 2007 | - | Director |
| Mr Joseph Walker | Scotland | 62 years | Dec 2007 | - | Director |
| Ms Jacqueline Walker | 43 years | Jan 2011 | - | Director | |
| Mr Robert Brannan | United Kingdom | 68 years | May 2018 | - | Director |
| Mr Stephen McCarney | 63 years | Mar 2019 | - | Director | |
| Mr Stephen McCarney | 63 years | Mar 2019 | - | Director | |
| Mr Norman Ross | 50 years | May 2021 | - | Director |
P&L
December 2023turnover
183.8m
+12%
operating profit
13.1m
+119%
gross margin
12.4%
+46.2%
turnover
Turnover, or revenue, is the amount of sales generated by a company within the financial year.
Balance Sheet
December 2023net assets
110m
+0.16%
total assets
125.6m
+0.12%
cash
27.4m
+0.11%
net assets
Total assets minus all liabilities
walker's shortbread ltd company details
company number
SC063233
Type
Private limited with Share Capital
industry
10720 - Manufacture of rusks and biscuits; manufacture of preserved pastry goods and cakes
incorporation date
October 1977
age
48
incorporated
UK
ultimate parent company
accounts
Group
last accounts submitted
December 2023
previous names
walkers shortbread limited (August 2020)
joseph walker (shortbread) limited (January 1985)
accountant
-
auditor
JOHNSTON CARMICHAEL LLP
address
aberlour house, aberlour-on-spey, banffshire, AB38 9LD
Bank
CLYDESDALE BANK
Legal Advisor
STRONACHS LLP
walker's shortbread ltd Charges & Mortgages
A charge, or mortgage, refers to the rights a company gives to a lender in return for a loan, often in the form of security given over business assets.
We found 3 charges/mortgages relating to walker's shortbread ltd. Currently there are 2 open charges and 1 have been satisfied in the past.
walker's shortbread ltd Capital Raised & Share Issues BETA
When a company issues new shares, e.g. to new investors following a funding round, it is required to notify Companies House within one month of making an allotment of shares.
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walker's shortbread ltd Companies House Filings - See Documents
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