Company registration number 06864529 (England and Wales)
R R WILLIAMS & SON LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
PAGES FOR FILING WITH REGISTRAR
R R WILLIAMS & SON LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
R R WILLIAMS & SON LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2023
31 October 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
12,914
10,701
Current assets
Stocks
50,478
44,167
Debtors
5
111,126
112,979
Cash at bank and in hand
248,461
142,777
410,065
299,923
Creditors: amounts falling due within one year
6
(110,004)
(73,669)
Net current assets
300,061
226,254
Total assets less current liabilities
312,975
236,955
Provisions for liabilities
(3,129)
(1,941)
Net assets
309,846
235,014
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
309,746
234,914
Total equity
309,846
235,014

The notes on pages 3 to 6 form part of these financial statements.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

R R WILLIAMS & SON LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 OCTOBER 2023
31 October 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 5 January 2024 and are signed on its behalf by:
Mr D J Williams
Director
Company registration number 06864529 (England and Wales)
R R WILLIAMS & SON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
- 3 -
1
Accounting policies
Company information

R R Williams & Son Limited is a private company limited by shares incorporated in England and Wales. The registered office is Warwick House, 9 High Street, Sutton Coldfield, West Midlands, B72 1XP.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Fee income is recognised as earned when, and to the extent that, the firm obtains the right to consideration in exchange for its performance under contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to clients, including expenses and disbursements but excluding value added tax.

1.3
Intangible fixed assets - goodwill

Goodwill, being amount paid in connection with the acquisition of the business in 2010, is being amortised evenly over its estimated useful life of ten years.

1.4
Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings
15% on reducing balance
1.5
Stocks

Work in progress is calculated as the estimated valuation of ongoing fee work.

1.6
Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current tax

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.

R R WILLIAMS & SON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
1
Accounting policies
(Continued)
- 4 -
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.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
9
9
3
Intangible fixed assets
Goodwill
£
Cost
At 1 November 2022 and 31 October 2023
250,000
Amortisation and impairment
At 1 November 2022 and 31 October 2023
250,000
Carrying amount
At 31 October 2023
-
0
At 31 October 2022
-
0
R R WILLIAMS & SON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
- 5 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2022
35,759
Additions
4,493
At 31 October 2023
40,252
Depreciation and impairment
At 1 November 2022
25,058
Depreciation charged in the year
2,280
At 31 October 2023
27,338
Carrying amount
At 31 October 2023
12,914
At 31 October 2022
10,701
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
66,690
66,187
Other debtors
44,436
46,792
111,126
112,979
6
Creditors: amounts falling due within one year
2023
2022
£
£
Taxation and social security
103,012
66,982
Other creditors
6,992
6,687
110,004
73,669
R R WILLIAMS & SON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
- 6 -
7
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2023
2022
Balances:
£
£
Accelerated capital allowances
3,129
1,941
2023
Movements in the year:
£
Liability at 1 November 2022
1,941
Charge to profit or loss
1,188
Liability at 31 October 2023
3,129
8
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
A Ordinary of £1 each
60
60
60
60
B Ordinary of £1 each
40
40
40
40
100
100
100
100
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