Company registration number 06549964 (England and Wales)
SWEET WILLIAM LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
SWEET WILLIAM LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
SWEET WILLIAM LTD
BALANCE SHEET
AS AT 31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
45,478
58,865
Investments
5
61,461
61,461
106,939
120,326
Current assets
Stocks
112,996
147,764
Debtors
6
21,336
64,047
Cash at bank and in hand
9,516
69,669
143,848
281,480
Creditors: amounts falling due within one year
7
(82,134)
(168,622)
Net current assets
61,714
112,858
Total assets less current liabilities
168,653
233,184
Creditors: amounts falling due after more than one year
8
(63,442)
(81,922)
Provisions for liabilities
(8,641)
(11,184)
Net assets
96,570
140,078
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
96,470
139,978
Total equity
96,570
140,078

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved and signed by the director and authorised for issue on 29 September 2023
E Wood
Director
Company Registration No. 06549964
SWEET WILLIAM LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 2 -
1
Accounting policies
Company information

Sweet William Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Wellesley House, Duke of Wellington Avenue, Royal Arsenal, London, SE18 6SS.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, to include certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and machinery and Computer equipment
25% reducing balance
Fixtures, fittings & equipment
25% reducing balance
Computer equipment
3 year straight line
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

SWEET WILLIAM LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 3 -
1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ which are measured at amortised cost. The Company does not have any other financial instruments as covered by Section 12 of FRS102.

 

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.7
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

 

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

1.8
Government grants
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
1
2
SWEET WILLIAM LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -
4
Tangible fixed assets
Plant and machinery and Computer equipment
Fixtures, fittings & equipment
Computer equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 April 2022
5,218
12,483
2,362
66,760
86,823
Additions
-
0
1,506
483
-
0
1,989
At 31 March 2023
5,218
13,989
2,845
66,760
88,812
Depreciation and impairment
At 1 April 2022
2,927
6,143
2,198
16,690
27,958
Depreciation charged in the year
573
1,961
324
12,518
15,376
At 31 March 2023
3,500
8,104
2,522
29,208
43,334
Carrying amount
At 31 March 2023
1,718
5,885
323
37,552
45,478
At 31 March 2022
2,291
6,340
164
50,070
58,865
5
Fixed asset investments
2023
2022
£
£
Other investments other than loans
61,461
61,461
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
19,206
12,422
Other debtors
2,130
51,625
21,336
64,047
7
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
10,780
2,936
Trade creditors
12,091
115,871
Taxation and social security
20,607
23,534
Other creditors
38,656
26,281
82,134
168,622
SWEET WILLIAM LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -
8
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
38,955
47,067
Other creditors
24,487
34,855
63,442
81,922
2023-03-312022-04-01false29 September 2023CCH SoftwareCCH Accounts Production 2023.300No description of principal activityE WoodD Woodfalse065499642022-04-012023-03-31065499642023-03-31065499642022-03-3106549964core:PlantMachinery2023-03-3106549964core:FurnitureFittings2023-03-3106549964core:ComputerEquipment2023-03-3106549964core:MotorVehicles2023-03-3106549964core:PlantMachinery2022-03-3106549964core:FurnitureFittings2022-03-3106549964core:ComputerEquipment2022-03-3106549964core:MotorVehicles2022-03-3106549964core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3106549964core:CurrentFinancialInstrumentscore:WithinOneYear2022-03-3106549964core:CurrentFinancialInstruments2023-03-3106549964core:CurrentFinancialInstruments2022-03-3106549964core:Non-currentFinancialInstruments2023-03-3106549964core:Non-currentFinancialInstruments2022-03-3106549964core:ShareCapital2023-03-3106549964core:ShareCapital2022-03-3106549964core:RetainedEarningsAccumulatedLosses2023-03-3106549964core:RetainedEarningsAccumulatedLosses2022-03-3106549964bus:Director12022-04-012023-03-3106549964core:PlantMachinery2022-04-012023-03-3106549964core:FurnitureFittings2022-04-012023-03-3106549964core:ComputerEquipment2022-04-012023-03-3106549964core:MotorVehicles2022-04-012023-03-31065499642021-04-012022-03-3106549964core:PlantMachinery2022-03-3106549964core:FurnitureFittings2022-03-3106549964core:ComputerEquipment2022-03-3106549964core:MotorVehicles2022-03-31065499642022-03-3106549964core:WithinOneYear2023-03-3106549964core:WithinOneYear2022-03-3106549964bus:PrivateLimitedCompanyLtd2022-04-012023-03-3106549964bus:SmallCompaniesRegimeForAccounts2022-04-012023-03-3106549964bus:FRS1022022-04-012023-03-3106549964bus:AuditExemptWithAccountantsReport2022-04-012023-03-3106549964bus:CompanySecretary12022-04-012023-03-3106549964bus:FullAccounts2022-04-012023-03-31xbrli:purexbrli:sharesiso4217:GBP