Caseware UK (AP4) 2023.0.135 2023.0.135 2023-04-302023-04-302022-04-01falseArchitectural activities22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07870953 2022-04-01 2023-04-30 07870953 2021-04-01 2022-03-31 07870953 2023-04-30 07870953 2022-03-31 07870953 c:Director1 2022-04-01 2023-04-30 07870953 d:FurnitureFittings 2022-04-01 2023-04-30 07870953 d:FurnitureFittings 2023-04-30 07870953 d:FurnitureFittings 2022-03-31 07870953 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-04-30 07870953 d:Goodwill 2022-04-01 2023-04-30 07870953 d:Goodwill 2023-04-30 07870953 d:Goodwill 2022-03-31 07870953 d:CurrentFinancialInstruments 2023-04-30 07870953 d:CurrentFinancialInstruments 2022-03-31 07870953 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 07870953 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 07870953 d:ShareCapital 2023-04-30 07870953 d:ShareCapital 2022-03-31 07870953 d:RetainedEarningsAccumulatedLosses 2023-04-30 07870953 d:RetainedEarningsAccumulatedLosses 2022-03-31 07870953 c:FRS102 2022-04-01 2023-04-30 07870953 c:AuditExempt-NoAccountantsReport 2022-04-01 2023-04-30 07870953 c:FullAccounts 2022-04-01 2023-04-30 07870953 c:PrivateLimitedCompanyLtd 2022-04-01 2023-04-30 07870953 2 2022-04-01 2023-04-30 07870953 e:PoundSterling 2022-04-01 2023-04-30 iso4217:GBP xbrli:pure
Registered number: 07870953






DEREK WILLIAMS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2023










img4fa8.png

 
DEREK WILLIAMS LIMITED
REGISTERED NUMBER:07870953

BALANCE SHEET
AS AT 30 APRIL 2023

30 April
31 March
2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
1
1

Tangible assets
 5 
293
733

  
294
734

Current assets
  

Debtors: amounts falling due within one year
 6 
35,292
35,038

Cash at bank and in hand
  
39
3,388

  
35,331
38,426

Creditors: amounts falling due within one year
 7 
(56,123)
(58,805)

Net current liabilities
  
 
 
(20,792)
 
 
(20,379)

Total assets less current liabilities
  
(20,498)
(19,645)

  

Net liabilities
  
(20,498)
(19,645)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(20,598)
(19,745)

  
(20,498)
(19,645)


Page 1

 
DEREK WILLIAMS LIMITED
REGISTERED NUMBER:07870953
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




D V Williams
Director

Date: 16 April 2024

Page 2

 
DEREK WILLIAMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2023

1.


General information

Derek Williams Limited is a private company limited by shares incorporated in England and Wales. The registered office is Millhouse, 32 - 38 East Street, Rochford, Essex, SS4 1DB. 
The principal activity of the company continued to be that of architectural services.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis, despite the net current liabilities, due to the continuing support of the directors.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
DEREK WILLIAMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

 
2.8

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 4

 
DEREK WILLIAMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.10

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.11

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
DEREK WILLIAMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2023

2.Accounting policies (continued)

 
2.13

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of 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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially
Page 6

 
DEREK WILLIAMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2023

2.Accounting policies (continued)


2.13
Financial instruments (continued)

recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the period was 2 (2022 -2).


4.


Intangible assets






Goodwill

£



Cost


At 1 April 2022
10,000



At 30 April 2023

10,000



Amortisation


At 1 April 2022
9,999



At 30 April 2023

9,999



Net book value



At 30 April 2023
1



At 31 March 2022
1



Page 7

 
DEREK WILLIAMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2023

5.


Tangible fixed assets







Fixtures and fittings

£



Cost or valuation


At 1 April 2022
4,848



At 30 April 2023

4,848



Depreciation


At 1 April 2022
4,115


Charge for the period on owned assets
440



At 30 April 2023

4,555



Net book value



At 30 April 2023
293



At 31 March 2022
733


6.


Debtors

30 April
31 March
2023
2022
£
£


Trade debtors
652
23

Other debtors
23,333
23,708

Tax recoverable
11,307
11,307

35,292
35,038


Included within other debtors due within one year is a loan to DV Williams, a director, amounting to £23,333 (2022 -£23,708). The main conditions were as follows:

Interest in the year has been charged at 2%.

Page 8

 
DEREK WILLIAMS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 APRIL 2023

7.


Creditors: Amounts falling due within one year

30 April
31 March
2023
2022
£
£

Bank overdrafts
4,986
3,816

Trade creditors
25,339
23,111

Other taxation and social security
18,597
23,177

Other creditors
5,701
5,701

Accruals and deferred income
1,500
3,000

56,123
58,805


 
Page 9