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Registration number: 10250759

Andrew Williams Consulting Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Andrew Williams Consulting Limited

Contents

Company Information

1

Director's Report

2

Accountants' Report

3

Profit and Loss Account

4

Statement of Comprehensive Income

5

Balance Sheet

6 to 7

Statement of Changes in Equity

8

Notes to the Unaudited Financial Statements

9 to 16

 

Andrew Williams Consulting Limited

Company Information

Director

Mr Andrew Williams

Company secretary

Britannia Accountancy & Tax Services Ltd

Registered office

A24 The Sanderson Centre
Lees Lane
Gosport
Hampshire
PO12 3UL

Accountants

Britannia Accountancy & Tax Services Ltd
A24 The Sanderson Centre
Lees Lane
Gosport
Hampshire
PO12 3UL

 

Andrew Williams Consulting Limited

Director's Report for the Year Ended 31 March 2023

The director presents his report and the financial statements for the year ended 31 March 2023.

Directors of the company

The directors who held office during the year were as follows:

Mr Andrew Williams

Mrs Helen Williams (ceased 14 October 2022)

Principal activity

The principal activity of the company is consultancy services

Small companies provision statement

This report has 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.

Approved by the director on 11 October 2023 and signed on its behalf by:

.........................................
Mr Andrew Williams
Director

   
     
 

Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Andrew Williams Consulting Limited
for the Year Ended 31 March 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Andrew Williams Consulting Limited for the year ended 31 March 2023 as set out on pages 4 to 16 from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Andrew Williams Consulting 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 Andrew Williams Consulting Limited and state those matters that we have agreed to state to the Board of Directors of Andrew Williams Consulting Limited, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Andrew Williams Consulting Limited and its Board of Directors as a body for our work or for this report. To the best of our knowledge at the time of preparation; all information contained in this report is accurate, based upon the information and representations made to us by Andrew Williams Consulting Limited

It is your duty to ensure that Andrew Williams Consulting 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 profit of Andrew Williams Consulting Limited. You consider that Andrew Williams Consulting 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 Andrew Williams Consulting 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.

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

Britannia Accountancy & Tax Services Ltd
A24 The Sanderson Centre
Lees Lane
Gosport
Hampshire
PO12 3UL

11 October 2023

 

Andrew Williams Consulting Limited

Profit and Loss Account for the Year Ended 31 March 2023

Note

2023
£

2022
£

Turnover

 

147,181

122,334

Cost of sales

 

(74,534)

(26,389)

Gross profit

 

72,647

95,945

Administrative expenses

 

(33,025)

(34,276)

Operating profit

 

39,622

61,669

Profit before tax

4

39,622

61,669

Tax on profit

 

-

(6,153)

Profit for the financial year

 

39,622

55,516

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Andrew Williams Consulting Limited

Statement of Comprehensive Income for the Year Ended 31 March 2023

2023
£

2022
£

Profit for the year

39,622

55,516

Total comprehensive income for the year

39,622

55,516

 

Andrew Williams Consulting Limited

(Registration number: 10250759)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

5

107,688

21,686

Tangible assets

6

4,083

3,728

 

111,771

25,414

Current assets

 

Stocks

7

31,680

61,680

Debtors

8

54,662

6,875

Cash at bank and in hand

 

4,619

4,448

 

90,961

73,003

Creditors: Amounts falling due within one year

9

(173,733)

(82,790)

Net current liabilities

 

(82,772)

(9,787)

Net assets

 

28,999

15,627

Capital and reserves

 

Called up share capital

10

4

4

Retained earnings

28,995

15,623

Shareholders' funds

 

28,999

15,627

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

Director's 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 director acknowledges his 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.

Approved and authorised by the director on 11 October 2023
 

 

Andrew Williams Consulting Limited

(Registration number: 10250759)
Balance Sheet as at 31 March 2023

.........................................
Mr Andrew Williams
Director

   
     
 

Andrew Williams Consulting Limited

Statement of Changes in Equity for the Year Ended 31 March 2023

Share capital
£

Retained earnings
£

Total
£

At 1 April 2022

4

15,623

15,627

Profit for the year

-

39,622

39,622

Dividends

-

(26,250)

(26,250)

At 31 March 2023

4

28,995

28,999

Share capital
£

Retained earnings
£

Total
£

At 1 April 2021

4

107

111

Profit for the year

-

55,516

55,516

Dividends

-

(40,000)

(40,000)

At 31 March 2022

4

15,623

15,627

 

Andrew Williams Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

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

The address of its registered office is:
A24 The Sanderson Centre
Lees Lane
Gosport
Hampshire
PO12 3UL

These financial statements were authorised for issue by the director on 11 October 2023.

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 in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Andrew Williams Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

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.

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 machinery

18% on net book value

Vehicles

18% on net book value

Office equipment

18% on net book value

Furniture and fittings

18% on net book value

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

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

Goodwill

10% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Andrew Williams Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 2).

 

Andrew Williams Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

896

818

Amortisation expense

12,998

3,098

 

Andrew Williams Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

5

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2022

30,980

30,980

Revaluations

99,000

99,000

At 31 March 2023

129,980

129,980

Amortisation

At 1 April 2022

9,294

9,294

Amortisation charge

12,998

12,998

At 31 March 2023

22,292

22,292

Carrying amount

At 31 March 2023

107,688

107,688

At 31 March 2022

21,686

21,686

6

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2022

4,776

4,776

Additions

1,251

1,251

At 31 March 2023

6,027

6,027

Depreciation

At 1 April 2022

1,048

1,048

Charge for the year

896

896

At 31 March 2023

1,944

1,944

Carrying amount

At 31 March 2023

4,083

4,083

At 31 March 2022

3,728

3,728

 

Andrew Williams Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

7

Stocks

2023
£

2022
£

Work in progress

31,680

61,680

8

Debtors

Current

2023
£

2022
£

Trade debtors

36,962

6,875

Other debtors

17,700

-

 

54,662

6,875

 

Andrew Williams Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

9

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

11

143,690

70,185

Trade creditors

 

18,482

-

Taxation and social security

 

7,902

9,446

Accruals and deferred income

 

3,582

3,690

Other creditors

 

77

(531)

 

173,733

82,790

10

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

Ordinary A of £1 each

1

1

1

1

Ordinary B of £1 each

1

1

1

1

 

4

4

4

4

11

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Other borrowings

143,690

70,185

12

Dividends

Interim dividends paid

 

Andrew Williams Consulting Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

 

2023
£

2022
£

Interim dividend of £0 per each Ordinary share

-

-

Interim dividend of £25,000 (2022 - £26,000) per each Ordinary A share

25,000

26,000

Interim dividend of £1,250 (2022 - £14,000) per each Ordinary B share

1,250

14,000

 

26,250

40,000