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REGISTERED NUMBER: 12253228 (England and Wales)










Unaudited Financial Statements for the Year Ended 31 October 2022

for

Williams Motor Company Ltd

Williams Motor Company Ltd (Registered number: 12253228)






Contents of the Financial Statements
for the Year Ended 31 October 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Williams Motor Company Ltd

Company Information
for the Year Ended 31 October 2022







DIRECTOR: W S Beech





REGISTERED OFFICE: 17-23 Stewart Street
Crewe
CW2 7RW





REGISTERED NUMBER: 12253228 (England and Wales)

Williams Motor Company Ltd (Registered number: 12253228)

Balance Sheet
31 October 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 4,000 6,000
Tangible assets 5 192,839 32,019
196,839 38,019

CURRENT ASSETS
Stocks 959,144 801,155
Debtors 6 18,165 64,131
Cash at bank 12,758 41,107
990,067 906,393
CREDITORS
Amounts falling due within one year 7 833,953 687,425
NET CURRENT ASSETS 156,114 218,968
TOTAL ASSETS LESS CURRENT
LIABILITIES

352,953

256,987

CREDITORS
Amounts falling due after more than one
year

8

(26,069

)

(35,833

)

PROVISIONS FOR LIABILITIES (22,788 ) (16,922 )
NET ASSETS 304,096 204,232

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 304,095 204,231
304,096 204,232

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Williams Motor Company Ltd (Registered number: 12253228)

Balance Sheet - continued
31 October 2022


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 September 2023 and were signed by:





W S Beech - Director


Williams Motor Company Ltd (Registered number: 12253228)

Notes to the Financial Statements
for the Year Ended 31 October 2022

1. STATUTORY INFORMATION

Williams Motor Company Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Williams Motor Company Ltd (Registered number: 12253228)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2022

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company makes employer pension contributions in accordance with auto enrolment legislation.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2021 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2021
and 31 October 2022 10,000
AMORTISATION
At 1 November 2021 4,000
Charge for year 2,000
At 31 October 2022 6,000
NET BOOK VALUE
At 31 October 2022 4,000
At 31 October 2021 6,000

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2021 34,672
Additions 265,799
Disposals (58,000 )
At 31 October 2022 242,471
DEPRECIATION
At 1 November 2021 2,653
Charge for year 46,979
At 31 October 2022 49,632
NET BOOK VALUE
At 31 October 2022 192,839
At 31 October 2021 32,019

Williams Motor Company Ltd (Registered number: 12253228)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2022

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 9,411 4,131
Other debtors 8,754 60,000
18,165 64,131

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 83,685 45,408
Trade creditors 78,522 89,560
Amounts owed to group undertakings 29,468 33,228
Taxation and social security 73,863 140,247
Other creditors 568,415 378,982
833,953 687,425

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Bank loans 26,069 35,833

9. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Other loans 508,018 329,978

The above loans are reflected in other creditors and are secured on the stock.

10. RELATED PARTY DISCLOSURES

WE Beech Holdings Ltd (parent company)

Monies were loaned between the companies on an interest free unsecured basis. The balance owing and reflected in current liabilities at 31st October 2022: £29,468, (2021: £33,228).

11. ULTIMATE CONTROLLING PARTY

The controlling party is WE Beech Holdings Ltd.

The ultimate controlling party is Mr W E Beech.