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REGISTERED NUMBER: 10624788 (England and Wales)






Williams & Williams FIC Limited

Financial Statements

for the Period 1 April 2022 to 30 March 2023






Williams & Williams FIC Limited (Registered number: 10624788)

Contents of the Financial Statements
for the period 1 April 2022 to 30 March 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Williams & Williams FIC Limited

Company Information
for the period 1 April 2022 to 30 March 2023







DIRECTORS: Mr B J Williams
Ms R E Carr





REGISTERED OFFICE: Batman House Farm
The Green
Nun Monkton
York
North Yorkshire
YO26 8EW





REGISTERED NUMBER: 10624788 (England and Wales)





ACCOUNTANTS: SMH Jolliffe Cork Ltd
Chartered Accountants
33 George Street
Wakefield
West Yorkshire
WF1 1LX

Williams & Williams FIC Limited (Registered number: 10624788)

Balance Sheet
30 March 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Investments 4 2,015,685 2,172,307

CURRENT ASSETS
Debtors 5 145,000 145,000
Cash at bank 9,844 11,752
154,844 156,752
CREDITORS
Amounts falling due within one year 6 2,005,671 2,005,670
NET CURRENT LIABILITIES (1,850,827 ) (1,848,918 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

164,858

323,389

Williams & Williams FIC Limited (Registered number: 10624788)

Balance Sheet - continued
30 March 2023

2023 2022
Notes £ £ £ £

CAPITAL AND RESERVES
Called up share capital 7 100 100
Retained earnings 164,758 323,289
SHAREHOLDERS' FUNDS 164,858 323,389

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 March 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 29 February 2024 and were signed on its behalf by:





Mr B J Williams - Director


Williams & Williams FIC Limited (Registered number: 10624788)

Notes to the Financial Statements
for the period 1 April 2022 to 30 March 2023


1. STATUTORY INFORMATION

Williams & Williams FIC Limited 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.

The functional and presentation currency for the company is the pound sterling (£). All financial information presented has been rounded to the nearest (£), unless otherwise stated.

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 as modified by the revaluation of certain assets.

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

Investment income represents Interest and dividend income on investments. Dividends on equity securities are recorded as revenue on the ex-dividend date, Interest income is recognised as it accrues.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the period 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 period 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.

Williams & Williams FIC Limited (Registered number: 10624788)

Notes to the Financial Statements - continued
for the period 1 April 2022 to 30 March 2023


2. ACCOUNTING POLICIES - continued

Other investments
Other investments represent amounts held in managed portfolio funds. These funds are recognised initially at fair value which is normally the transaction price. Subsequently they are measured at fair value through profit and loss which is determined by reference to bid prices at the close of business on the reporting date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2022 - NIL).

4. FIXED ASSET INVESTMENTS
Other
investments
£
COST OR VALUATION
At 1 April 2022 2,172,307
Additions 12,546
Revaluations (169,168 )
At 30 March 2023 2,015,685
NET BOOK VALUE
At 30 March 2023 2,015,685
At 31 March 2022 2,172,307


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Amounts owed by related party 145,000 145,000

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Directors' current accounts 2,003,750 2,003,750
Accruals and deferred income 1,921 1,920
2,005,671 2,005,670

Williams & Williams FIC Limited (Registered number: 10624788)

Notes to the Financial Statements - continued
for the period 1 April 2022 to 30 March 2023


7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
4 A Ordinary £1 4 4
31 B £1 31 31
29 C £1 29 29
9 D £1 9 9
9 E £1 9 9
9 F £1 9 9
9 G £1 9 9
100 100

8. RELATED PARTY DISCLOSURES

During the year the company provided an interest free loan to Tanker Consulting Services Limited, a company under common control. At the year end date £145,000 was owed by Tanker Consulting Services Limited, which is included in debtors, and is repayable on demand.