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REGISTERED NUMBER: 05383381














Unaudited Financial Statements

for the Year Ended 31 August 2023

for

K A and T D Williams Limited

K A and T D Williams Limited (Registered number: 05383381)

Contents of the Financial Statements
for the Year Ended 31 August 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

K A and T D Williams Limited

Company Information
for the Year Ended 31 August 2023







DIRECTORS: T D Williams
Mrs JC Williams





SECRETARY:





REGISTERED OFFICE: 29A East Street
South Molton
Devon
EX36 3DB





REGISTERED NUMBER: 05383381





ACCOUNTANTS: Kirk Hills Chartered Accountants
5 Barnfield Crescent
Exeter
Devon
EX1 1QT

K A and T D Williams Limited (Registered number: 05383381)

Balance Sheet
31 August 2023

31.8.23 31.8.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 37,447 40,951
37,447 40,951

CURRENT ASSETS
Stocks 25,000 20,000
Debtors 6 114,924 107,156
Cash at bank and in hand 160,926 156,305
300,850 283,461
CREDITORS
Amounts falling due within one year 7 114,165 86,178
NET CURRENT ASSETS 186,685 197,283
TOTAL ASSETS LESS CURRENT
LIABILITIES

224,132

238,234

CREDITORS
Amounts falling due after more than one
year

8

-

(77

)

PROVISIONS FOR LIABILITIES (3,678 ) (4,200 )
NET ASSETS 220,454 233,957

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 220,354 233,857
SHAREHOLDERS' FUNDS 220,454 233,957

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

K A and T D Williams Limited (Registered number: 05383381)

Balance Sheet - continued
31 August 2023


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 January 2024 and were signed on its behalf by:





T D Williams - Director


K A and T D Williams Limited (Registered number: 05383381)

Notes to the Financial Statements
for the Year Ended 31 August 2023


1. STATUTORY INFORMATION

K A and T D Williams Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 2006, 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.
Improvements to property - 2% on cost
Furniture and Equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on reducing balance

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling cost in bringing stocks to their present location and condition.

K A and T D Williams Limited (Registered number: 05383381)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
(i) Financial assets
Basic financial assets, including trade and other debtors are initially recognised at the transaction price and therefore stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the debtors are stated at cost less impairment losses for bad and doubtful debts.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

(ii) Financial liabilities
Basic financial liabilities, including trade and other creditors, bank loans and other loans are initially recognised at transaction price, unless the arrangement constitutes a financing transaction.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2022 - 12 ) .

K A and T D Williams Limited (Registered number: 05383381)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2022
and 31 August 2023 20,000
AMORTISATION
At 1 September 2022
and 31 August 2023 20,000
NET BOOK VALUE
At 31 August 2023 -
At 31 August 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2022 81,281
Additions 2,810
At 31 August 2023 84,091
DEPRECIATION
At 1 September 2022 40,330
Charge for year 6,314
At 31 August 2023 46,644
NET BOOK VALUE
At 31 August 2023 37,447
At 31 August 2022 40,951

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Trade debtors 85,837 80,786
Amounts recoverable on contract 16,207 15,000
Prepayments 12,880 11,370
114,924 107,156

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.23 31.8.22
£    £   
Bank loans and overdrafts - 4,865
Trade creditors 63,462 41,763
Tax 12,515 6,650
Social security and other taxes 4,160 4,437
VAT 5,267 19,893
Other creditors 4,528 2,360
Directors' loan accounts 20,202 2,672
Accrued expenses 4,031 3,538
114,165 86,178

K A and T D Williams Limited (Registered number: 05383381)

Notes to the Financial Statements - continued
for the Year Ended 31 August 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.8.23 31.8.22
£    £   
Bank loans - 1-2 years - 77

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
31.8.23 31.8.22
£    £   
Within one year 2,606 6,631
Between one and five years 64,831 32,018
67,437 38,649

10. SECURED DEBTS

The following secured debts are included within creditors:

31.8.23 31.8.22
£    £   
Bank loans - 4,942

The bank loan is secured by a third party.

11. ULTIMATE CONTROLLING PARTY

The company is under the joint control of Mr T D Williams and Mrs J Williams who own 50% each of the issued shares.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
K A and T D Williams Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of K A and T D Williams Limited for the year ended 31 August 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of K A and T D Williams Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of K A and T D Williams Limited and state those matters that we have agreed to state to the Board of Directors of K A and T D Williams Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than K A and T D Williams Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that K A and T D Williams Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of K A and T D Williams Limited. You consider that K A and T D Williams 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 financial statements of K A and T D Williams 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 financial statements.






Kirk Hills Chartered Accountants
5 Barnfield Crescent
Exeter
Devon
EX1 1QT


Date: .............................................