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Company No: 00478929 (England and Wales)

J.R. WILLIAMS (CHANDLERY) LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2024
Pages for filing with the registrar

J.R. WILLIAMS (CHANDLERY) LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2024

Contents

J.R. WILLIAMS (CHANDLERY) LIMITED

COMPANY INFORMATION

For the financial year ended 31 March 2024
J.R. WILLIAMS (CHANDLERY) LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 March 2024
DIRECTORS Mrs C L Ives
Miss O C Williams
Mrs S G Williams
SECRETARY Miss O C Williams
REGISTERED OFFICE Hitchcock House Hilltop Park
Devizes Road
Salisbury
SP3 4UF
United Kingdom
COMPANY NUMBER 00478929 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Hitchcock House
Hilltop Park
Devizes Road
Salisbury
Wiltshire SP3 4UF
J.R. WILLIAMS (CHANDLERY) LIMITED

BALANCE SHEET

As at 31 March 2024
J.R. WILLIAMS (CHANDLERY) LIMITED

BALANCE SHEET (continued)

As at 31 March 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 1 1
Investment property 4 800,000 752,364
800,001 752,365
Current assets
Debtors 5 672 572
Cash at bank and in hand 140,538 129,147
141,210 129,719
Creditors: amounts falling due within one year 6 ( 12,244) ( 10,384)
Net current assets 128,966 119,335
Total assets less current liabilities 928,967 871,700
Provision for liabilities ( 109,000) ( 109,000)
Net assets 819,967 762,700
Capital and reserves
Called-up share capital 8,000 8,000
Profit and loss account 811,967 754,700
Total shareholder's funds 819,967 762,700

For the financial year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of J.R. Williams (Chandlery) Limited (registered number: 00478929) were approved and authorised for issue by the Board of Directors on 22 July 2024. They were signed on its behalf by:

Miss O C Williams
Director
J.R. WILLIAMS (CHANDLERY) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
J.R. WILLIAMS (CHANDLERY) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

J.R. Williams (Chandlery) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Hitchcock House Hilltop Park, Devizes Road, Salisbury, SP3 4UF, United Kingdom. The business address is Brickworth Park, Whiteparish, Salisbury, Wiltshire, SP5 2QE.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Fixtures and fittings 0 - 7 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

3. Tangible assets

Fixtures and fittings Total
£ £
Cost
At 01 April 2023 840 840
At 31 March 2024 840 840
Accumulated depreciation
At 01 April 2023 839 839
At 31 March 2024 839 839
Net book value
At 31 March 2024 1 1
At 31 March 2023 1 1

4. Investment property

Investment property
£
Valuation
As at 01 April 2023 752,364
Fair value movement 47,636
As at 31 March 2024 800,000

Investment property comprises property held for retail return. The fair value of the investment property has been arrived at on the basis of a valuation carried out by the directors on 03 July 2024. The valuation was made on a open market value basis by reference to market evidence of transaction prices for similar properties.

There has been no valuation of investment property by an independent valuer.

5. Debtors

2024 2023
£ £
Trade debtors 572 572
Other debtors 100 0
672 572

6. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to directors 5,074 5,074
Accruals and deferred income 4,911 2,694
Taxation and social security 2,259 2,616
12,244 10,384