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Registration number: 10019578

Williams Ice Cream Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 28 February 2023

 

Williams Ice Cream Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 8

 

Williams Ice Cream Limited

Company Information

Directors

Mr M J Williams

Mr B I Williams

Mr J Williams

Registered office

82 Trelawny Road
Plymouth
Devon
PL3 4JY

Accountants

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Williams Ice Cream Limited
for the Year Ended 28 February 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Williams Ice Cream Limited for the year ended 28 February 2023 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Williams Ice Cream Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Williams Ice Cream Limited and state those matters that we have agreed to state to the Board of Directors of Williams Ice Cream Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Williams Ice Cream Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Williams Ice Cream Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Williams Ice Cream Limited. You consider that Williams Ice Cream Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Williams Ice Cream Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Houndiscombe Consultants Limited
T/A Condy Mathias Chartered Accountants
6 Houndiscombe Road
Plymouth
Devon
PL4 6HH

19 October 2023

 

Williams Ice Cream Limited

(Registration number: 10019578)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

3,198

4,267

Current assets

 

Stocks

6

275

250

Debtors

7

406

418

Cash at bank and in hand

 

17,714

21,206

 

18,395

21,874

Creditors: Amounts falling due within one year

8

(24,237)

(24,337)

Net current liabilities

 

(5,842)

(2,463)

Total assets less current liabilities

 

(2,644)

1,804

Creditors: Amounts falling due after more than one year

8

(8,317)

(11,805)

Provisions for liabilities

(608)

(811)

Net liabilities

 

(11,569)

(10,812)

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(11,669)

(10,912)

Shareholders' deficit

 

(11,569)

(10,812)

 

Williams Ice Cream Limited

(Registration number: 10019578)
Balance Sheet as at 28 February 2023

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

For the financial year ending 28 February 2023 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 19 October 2023 and signed on its behalf by:
 

.........................................

Mr J Williams

Director

 

Williams Ice Cream Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1

General information

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

The address of its registered office is:
82 Trelawny Road
Plymouth
Devon
PL3 4JY
United Kingdom

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 using the historic cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Going concern

The accounts have been prepared on a going concern basis, as the directors have been providing financial support where required. The directors have reviewed the position for 12 months from the date the accounts were approved and in their opinion the company will reduce the balance sheet deficiency and show positive results for the next financial period.

Revenue recognition

Turnover primarily comprises the fair value of the consideration received for the sale of drinks and snacks in the ordinary course of the company's activities. Turnover is shown net of value added tax, rebates and discounts. The company recognises revenue when the goods are sold, as payment is received on the date of the sale.

Government grants

Government grants are fair value of the grants received by the government to support the company in the ordinary course of the company's activities. The company recognises government grant income when the amount of grant can be reliably measured, and it is highly probable that future economic benefits of the grant will flow to the company.

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.

 

Williams Ice Cream Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

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

Plant and equipment

25% reducing balance

Office equipment

33% reducing balance

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Other intangible assets

25% straight line

Stocks

Stocks is stated at the lower of costs incurred and estimated selling price, of the food and beverages purchased for resale/ Stock is valued on a first in first out basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2022 - 5).

 

Williams Ice Cream Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 March 2022

1,309

1,309

At 28 February 2023

1,309

1,309

Amortisation

At 1 March 2022

1,309

1,309

At 28 February 2023

1,309

1,309

Carrying amount

At 28 February 2023

-

-

5

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 March 2022

300

9,035

9,335

At 28 February 2023

300

9,035

9,335

Depreciation

At 1 March 2022

273

4,795

5,068

Charge for the year

9

1,060

1,069

At 28 February 2023

282

5,855

6,137

Carrying amount

At 28 February 2023

18

3,180

3,198

At 28 February 2022

27

4,240

4,267

 

Williams Ice Cream Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

6

Stocks

2023
£

2022
£

Other inventories

275

250

7

Debtors

2023
£

2022
£

Prepayments

406

418

406

418

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

3,639

3,639

Taxation and social security

 

340

321

Accruals and deferred income

 

3,714

4,283

Other creditors

 

16,544

16,094

 

24,237

24,337

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8,317

11,805