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COMPANY REGISTRATION NUMBER: 9559302
Williams Home Properties Limited
Filleted Unaudited Financial Statements
30 April 2024
Williams Home Properties Limited
Financial Statements
Year ended 30 April 2024
Contents
Pages
Statement of financial position
1
Notes to the financial statements
2 to 4
Williams Home Properties Limited
Statement of Financial Position
30 April 2024
2024
2023
Note
£
£
Current assets
Debtors
6
49,894
45,998
Cash at bank and in hand
746
--------
--------
50,640
45,998
Creditors: amounts falling due within one year
7
( 33,412)
( 29,771)
--------
--------
Net current assets
17,228
16,227
--------
--------
Total assets less current liabilities
17,228
16,227
Creditors: amounts falling due after more than one year
8
( 45,452)
( 44,204)
--------
--------
Net liabilities
( 28,224)
( 27,977)
--------
--------
Capital and reserves
Called up share capital
9
100
100
Profit and loss account
( 28,324)
( 28,077)
--------
--------
Shareholders deficit
( 28,224)
( 27,977)
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- 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 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 5 August 2024 , and are signed on behalf of the board by:
Mrs C.L. Williams
Mr G.G. Williams
Director
Director
Company registration number: 9559302
Williams Home Properties Limited
Notes to the Financial Statements
Year ended 30 April 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 5 Woodfield Grove, Cosheston, Pembroke Dock, Pembrokeshire, SA72 4UE, Wales.
2. Statement of compliance
These financial statements have been prepared in accordance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors have a reasonable expectation that the company has adequate resources to continue operational existence for the foreseeable future. For this reason, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Tax on loss
Major components of tax income
2024
2023
£
£
Current tax:
Adjustments in respect of prior periods
( 1,100)
----
-------
Tax on loss
( 1,100)
----
-------
6. Debtors
2024
2023
£
£
Other debtors
49,894
45,998
--------
--------
Other debtors include an amount of £nil (2023 - £nil) falling due after more than one year.
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts (secured)
5,556
5,556
Trade creditors
236
1,277
Corporation tax
12,672
12,672
Social security and other taxes
10,731
8,092
Other creditors
4,217
2,174
--------
--------
33,412
29,771
--------
--------
8. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts (secured)
45,452
44,204
--------
--------
Included within creditors: amounts falling due after more than one year is an amount of £23,229 (2023: £21,981) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.
9. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
100
100
100
100
----
----
----
----
10. Related party transactions
The company was under the control of Mr G.G. Williams throughout the current and previous year. Mr G.G. Williams is the managing director and joint shareholder. Included within other debtors is an amount of £35,898 (2023 - £35,898) owed to the company by the directors.