REGISTERED NUMBER: |
Williams & Williams FIC Limited |
Financial Statements |
for the Period 1 April 2022 to 30 March 2023 |
REGISTERED NUMBER: |
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: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
Williams & Williams FIC Limited (Registered number: 10624788) |
Balance Sheet - continued |
30 March 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital | 7 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
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 |
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 |
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 |
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 |
Additions |
Revaluations | ( |
) |
At 30 March 2023 |
NET BOOK VALUE |
At 30 March 2023 |
At 31 March 2022 |
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 |
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: | £ | £ |
A Ordinary | £1 | 4 | 4 |
B | £1 | 31 | 31 |
C | £1 | 29 | 29 |
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. |