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Company registration number: 02529344
Williamson Brothers Limited
Unaudited filleted abridged financial statements
30 September 2023
Williamson Brothers Limited
Contents
Directors and other information
Abridged statement of financial position
Statement of changes in equity
Notes to the financial statements
Williamson Brothers Limited
Directors and other information
Directors Mr R J Williamson
Mrs L J Williamson
Mr J G Williamson
Mrs C F Williamson
Secretary Mrs L J Williamson
Company number 02529344
Registered office Birch House
Birches Head Road
Hanley, Stoke-on-Trent
Staffordshire
ST1 6LH
Business address Birch House
Birches Head Road
Hanley, Stoke-on-Trent
Staffordshire
ST1 6LH
Accountants Hardings
6 Marsh Parade
Newcastle-under-Lyme
Staffordshire
ST5 1DU
Bankers National Westminster Bank plc
Churchill House
Regent Road
Hanley, Stoke-on-Trent
Staffordshire
Williamson Brothers Limited
Abridged statement of financial position
30th September 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 1,627,119 1,639,684
Investments 6 362,662 357,220
_______ _______
1,989,781 1,996,904
Current assets
Stocks 65,670 62,415
Debtors 101,021 134,782
Cash at bank and in hand 6,289,836 5,970,334
_______ _______
6,456,527 6,167,531
Creditors: amounts falling due
within one year ( 216,199) ( 210,165)
_______ _______
Net current assets 6,240,328 5,957,366
_______ _______
Total assets less current liabilities 8,230,109 7,954,270
Provisions for liabilities ( 101,490) ( 85,662)
_______ _______
Net assets 8,128,619 7,868,608
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 8,128,519 7,868,508
_______ _______
Shareholders funds 8,128,619 7,868,608
_______ _______
For the year ending 30 September 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the current year ending 30 September 2023 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the board of directors and authorised for issue on 04 March 2024 , and are signed on behalf of the board by:
Mr R J Williamson Mrs L J Williamson
Director Director
Company registration number: 02529344
Williamson Brothers Limited
Statement of changes in equity
Year ended 30th September 2023
Called up share capital Profit and loss account Total
£ £ £
At 1st October 2021 100 7,543,984 7,544,084
Profit for the year 424,524 424,524
_______ _______ _______
Total comprehensive income for the year - 424,524 424,524
Dividends paid and payable ( 100,000) ( 100,000)
_______ _______ _______
Total investments by and distributions to owners - ( 100,000) ( 100,000)
_______ _______ _______
At 30th September 2022 and 1st October 2022 100 7,868,508 7,868,608
Profit for the year 360,011 360,011
_______ _______ _______
Total comprehensive income for the year - 360,011 360,011
Dividends paid and payable ( 100,000) ( 100,000)
_______ _______ _______
Total investments by and distributions to owners - ( 100,000) ( 100,000)
_______ _______ _______
At 30th September 2023 100 8,128,519 8,128,619
_______ _______ _______
Williamson Brothers Limited
Notes to the financial statements
Year ended 30th September 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Birch House, Birches Head Road, Hanley, Stoke-on-Trent, Staffordshire, ST1 6LH.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property - 2 % straight line
Plant and machinery - 15 % reducing balance
Fittings fixtures and equipment - 15 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 19 (2022: 19 ).
5. Tangible assets
£
Cost
At 1st October 2022 2,969,022
Additions 179,371
Disposals ( 65,479)
_______
At 30th September 2023 3,082,914
_______
Depreciation
At 1st October 2022 1,329,338
Charge for the year 167,168
Disposals ( 40,711)
_______
At 30th September 2023 1,455,795
_______
Carrying amount
At 30th September 2023 1,627,119
_______
At 30th September 2022 1,639,684
_______
6. Investments
£
Cost or valuation
At 1st October 2022 357,220
Revaluations 5,442
_______
At 30th September 2023 362,662
_______
Impairment
At 1st October 2022 and 30th September 2023 -
_______
Carrying amount
At 30th September 2023 362,662
_______
At 30th September 2022 357,220
_______
7. Controlling party
The company is controlled at the Balance Sheet date by Mr R J Williamson and Mrs L J Williamson who hold 50% and 30% of the Issued Share Capital, respectively.