Registered number
11231982
William Price & Co Limited
Accounts
For the Year Ended
31 May 2023
Westbury Court
Church Road
Westbury-on-Trym
BS9 3EF
William Price & Co Limited
Registered number: 11231982
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 360,007 330,000
Tangible assets 4 34,181 32,285
394,188 362,285
Current assets
Work in progress 35,525 35,994
Debtors 5 219,394 256,827
Cash at bank and in hand 25,980 40,017
280,899 332,838
Creditors: amounts falling due within one year 6 (218,563) (180,519)
Net current assets 62,336 152,319
Total assets less current liabilities 456,524 514,604
Creditors: amounts falling due after more than one year 7 (388,868) (425,297)
Net assets 67,656 89,307
Capital and reserves
Called up share capital 100 100
Profit and loss account 67,556 89,207
Shareholder's funds 67,656 89,307
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D A Oakensen
Director
Approved by the board on 23 February 2024
William Price & Co Limited
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for services supplied, net of discounts and value added taxes. Turnover is recognised when work is completed.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulated amortisation and any accumulated impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Furniture and fittings 10 years
Computer Equipment 3 years
Work in progress
Work in progress is measured at the lower of cost and estimated selling price less costs to complete and sell. The carrying amount of work in progress sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price, which is usually the invoice price, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price, which is usually the invoice price.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 18 17
3 Intangible fixed assets £
Goodwill:
Cost
At 1 June 2022 550,000
Additions 94,452
At 31 May 2023 644,452
Amortisation
At 1 June 2022 220,000
Provided during the year 64,445
At 31 May 2023 284,445
Net book value
At 31 May 2023 360,007
At 31 May 2022 330,000
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Furniture and equipment
£
Cost
At 1 June 2022 52,476
Additions 10,715
At 31 May 2023 63,191
Depreciation
At 1 June 2022 20,191
Charge for the year 8,819
At 31 May 2023 29,010
Net book value
At 31 May 2023 34,181
At 31 May 2022 32,285
5 Debtors 2023 2022
£ £
Trade debtors 219,394 256,827
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 34,000 35,445
Trade creditors 13,078 4,340
Taxes and social security costs 83,900 50,518
Other creditors 87,585 90,216
218,563 180,519
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 68,000 107,333
Other creditors 320,868 317,964
388,868 425,297
8 Other information
William Price & Co Limited is a private company limited by shares and incorporated in England. Its registered office is:
9 Westbury Court
Church Road
Westbury-on-Trym
Bristol
BS9 3EF
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