Company Registration No. 07676296 (England and Wales)
Williamson Menzies Limited
Unaudited accounts
for the year ended 31 December 2023
Williamson Menzies Limited
Unaudited accounts
Contents
Williamson Menzies Limited
Company Information
for the year ended 31 December 2023
Directors
John Menzies
Emma Menzies
Company Number
07676296 (England and Wales)
Registered Office
Unit 8 Downley Point
Downley Road
Havant
Hampshire
PO9 2NA
Accountants
Horn & Co. Accountants Limited
6 Weyhill Close
Portchester
Fareham
Hampshire
PO16 8EL
Chartered Certified Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
Williamson Menzies Limited
for the year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
Williamson Menzies Limited for the year ended
31 December 2023 as set out on pages
5 -
8 from the Company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/uk/en/about-us/regulation/rulebook.html
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf.
Horn & Co. Accountants Limited
Chartered Certified Accountants
6 Weyhill Close
Portchester
Fareham
Hampshire
PO16 8EL
6 March 2024
Williamson Menzies Limited
Statement of financial position
as at 31 December 2023
Tangible assets
19,585
26,228
Cash at bank and in hand
100,766
84,339
Creditors: amounts falling due within one year
(140,754)
(124,764)
Net current assets
24,098
12,359
Total assets less current liabilities
76,022
67,760
Provisions for liabilities
Deferred tax
(4,896)
(4,983)
Called up share capital
120
120
Profit and loss account
71,006
62,657
Shareholders' funds
71,126
62,777
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The members have agreed to the preparation of abridged accounts for the year in accordance with Section 444(2A).
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 6 March 2024 and were signed on its behalf by
John Menzies
Director
Company Registration No. 07676296
Williamson Menzies Limited
Notes to the Accounts
for the year ended 31 December 2023
Williamson Menzies Limited is a private company, limited by shares, registered in England and Wales, registration number 07676296. The registered office is Unit 8 Downley Point, Downley Road, Havant, Hampshire, PO9 2NA.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
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.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
20% Reducing Balance
Computer equipment
25% Straight Line
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement.
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 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.
Goodwill, being the amount paid in the acquisition of a business, is being amortised over its expected useful life.
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Williamson Menzies Limited
Notes to the Accounts
for the year ended 31 December 2023
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when paid.
3
Intangible fixed assets
Total
4
Tangible fixed assets
Total
At 31 December 2023
62,483
At 31 December 2023
42,898
At 31 December 2023
19,585
At 31 December 2022
26,228
5
Operating lease commitments
2023
2022
At 31 December 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Later than one year and not later than five years
46,400
65,600
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Loan to director
-
2,539
-
2,539
Williamson Menzies Limited
Notes to the Accounts
for the year ended 31 December 2023
7
Average number of employees
During the year the average number of employees was 9 (2022: 9).