WALKER'S SHORTBREAD LTD
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Cash
£21m
-17.8% vs 2024
Net assets
£103m
-4.8% vs 2024
Employees
1,266
+0.9% vs 2024
Profit before tax
£8.8m
-51.5% vs 2024
Watch the reel
Our short-form breakdown of WALKER'S SHORTBREAD LTD's latest filing
A tough year for margins at Walker's Shortbread, but the dividend payout didn't crumble. 🍪
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
2 PSCs ceased in last 24 months
Significant control changed hands — see the Ownership section.
Net assets
2-year trend · vs Consumer Staples median
Accounts
2-year trend · Δ = latest vs prior filed period · latest reflected 2025-12-31
| Metric | Trend | 2024-12-31 | 2025-12-31 | Δ vs prior |
|---|---|---|---|---|
| Turnover | £200,986,000 | £196,784,000 | -2.1% | |
| Operating profit | £16,149,000 | £6,939,000 | -57% | |
| Profit before tax | £18,068,000 | £8,764,000 | -51.5% | |
| Net profit | £13,396,000 | £6,763,000 | -49.5% | |
| Cash | £25,755,000 | £21,181,000 | -17.8% | |
| Total assets less current liabilities | £106,071,000 | £101,126,000 | -4.7% | |
| Net assets | £107,941,000 | £102,740,000 | -4.8% | |
| Equity | £107,941,000 | £102,740,000 | -4.8% | |
| Average employees | 1,255 | 1,266 | +0.9% | |
| Wages | £38,649,000 | £40,808,000 | +5.6% | |
| Directors' remuneration | £2,384,000 | £2,168,000 | -9.1% |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2024-12-31 | 2025-12-31 |
|---|---|---|---|
| Operating margin | 8.0% | 3.5% | |
| Net margin | 6.7% | 3.4% | |
| Return on capital employed | 15.2% | 6.9% | |
| Gearing (liabilities / total assets) | 10.8% | 12.2% | |
| Current ratio | 6.36x | 5.73x |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Name history
Renamed 2 times since incorporation
- WALKER'S SHORTBREAD LTD 2020-08-05 → present
- WALKERS SHORTBREAD LIMITED 1985-01-03 → 2020-08-05
- JOSEPH WALKER (SHORTBREAD) LIMITED 1977-10-06 → 1985-01-03
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Consolidated group
- Auditor
- Johnston Carmichael LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“At the time of approving the financial statements, the directors have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.”
Group structure
- WALKER'S SHORTBREAD LTD · parent
- Walker's Shortbread Incorporated 100%
- Top Food GmBH 100%
- Highland Pride Foods Limited 100%
Significant events
- “Subsequent to the year end, a decision of the United States Supreme Court in relation to the application of tariffs under the International Emergency Economic Powers Act (IEEPA) may give rise to a potential refund of certain historical tariff costs incurred by the Group.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
8 active · 12 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| ROSS, Norman | Secretary | 2023-05-25 | — | — |
| MCCARNEY, Stephen Lawrence | Director | 2019-03-01 | May 1961 | British |
| ROSS, Norman | Director | 2021-05-24 | Aug 1974 | British |
| STEAD, Justin Paul David | Director | 2025-10-20 | Jul 1967 | American |
| WALKER, Bryony Helen | Director | 2025-05-22 | Oct 1984 | British |
| WALKER, Jacqueline Barbara, Non Executive Director | Director | 2011-01-01 | Jun 1981 | British |
| WALKER, Joseph Nicol | Director | 2007-12-01 | Sep 1962 | British |
| WALKER, Richard John | Director | 2007-12-01 | Jun 1972 | British |
Show 12 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| EDWARDS, David John | Secretary | 2015-06-23 | 2023-05-25 |
| FRASER, Kenneth Stuart | Secretary | 2007-12-01 | 2015-06-23 |
| WALKER, Marjorie Henderson | Secretary | — | 2007-11-30 |
| BRANNAN, Robert | Director | 2018-05-01 | 2025-08-31 |
| EDWARDS, David John | Director | 2007-12-01 | 2023-05-25 |
| SELIGMAN, Nigel Henry | Director | 2005-04-01 | 2008-04-01 |
| SIMPSON, Peter Lewis | Director | 2005-04-01 | 2011-05-31 |
| THOMSON, John Edward Fraser | Director | 2005-04-01 | 2008-04-01 |
| WALKER, James Nicol | Director | — | 2024-12-15 |
| WALKER, Joseph | Director | — | 2021-10-07 |
| WALKER, Marjorie Henderson | Director | — | 2018-09-13 |
| WALKER, Michael John | Director | 2007-12-01 | 2018-05-25 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Mr Joseph Nicol Walker | Individual | Significant influence | 2020-08-07 | Active |
| Mr Ewan Paton Wallace | Individual | Shares 25–50% | 2019-04-04 | Active |
| Mr James David Walker | Individual | Shares 25–50% | 2018-09-13 | Ceased 2018-10-11 |
| Mr Peter Lewis Simpson | Individual | Shares 25–50% | 2018-09-13 | Ceased 2018-10-11 |
| Mrs Maureen May Walker | Individual | Shares 25–50% | 2017-05-31 | Ceased 2025-11-22 |
| Mr Kenneth Stuart Fraser | Individual | Shares 25–50% | 2017-05-31 | Ceased 2021-07-13 |
| Mrs Jennifer Ann Walker | Individual | Shares 25–50% | 2016-09-20 | Ceased 2021-07-13 |
| Mr James Nicol Walker | Individual | Voting 25–50% | 2016-04-06 | Ceased 2024-12-15 |
| Mr Joseph Walker | Individual | Significant influence | 2016-04-06 | Ceased 2020-08-06 |
| Ms Marjorie Henderson Walker | Individual | Significant influence | 2016-04-06 | Ceased 2018-09-13 |
Filing timeline
Last 20 of 181 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-07-17 | AA | accounts | Accounts with accounts type group | |
| 2026-06-25 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-11-26 | PSC07 | persons-with-significant-control | Cessation of a person with significant control | |
| 2025-11-21 | AA | accounts | Accounts with accounts type group | |
| 2025-11-12 | ANNOTATION | miscellaneous | Legacy | |
| 2025-11-05 | AP01 | officers | Appoint person director company with name date | |
| 2025-09-01 | TM01 | officers | Termination director company with name termination date | |
| 2025-06-11 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-05-29 | AP01 | officers | Appoint person director company with name date | |
| 2025-01-23 | PSC07 | persons-with-significant-control | Cessation of a person with significant control | |
| 2024-12-19 | TM01 | officers | Termination director company with name termination date | |
| 2024-09-27 | AA | accounts | Accounts with accounts type group | |
| 2024-06-06 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2023-10-16 | AA | accounts | Accounts with accounts type group | |
| 2023-06-08 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-06-07 | RP04CS01 | confirmation-statement | Second filing of confirmation statement with made up date | |
| 2023-05-25 | AP03 | officers | Appoint person secretary company with name date | |
| 2023-05-25 | TM01 | officers | Termination director company with name termination date | |
| 2023-05-25 | TM02 | officers | Termination secretary company with name termination date | |
| 2022-11-10 | PSC04 | persons-with-significant-control | Change to a person with significant control |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 7
- Capital events
- 0
- Officers appointed
- 1
- Officers resigned
- 1
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.