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REGISTERED NUMBER: 12253228 (England and Wales)










Unaudited Financial Statements for the Year Ended 31 October 2023

for

Williams Motor Company Ltd

Williams Motor Company Ltd (Registered number: 12253228)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Williams Motor Company Ltd

Company Information
for the Year Ended 31 October 2023







DIRECTOR: W S Beech





REGISTERED OFFICE: 17-23 Stewart Street
Crewe
CW2 7RW





REGISTERED NUMBER: 12253228 (England and Wales)

Williams Motor Company Ltd (Registered number: 12253228)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,000 4,000
Tangible assets 5 239,873 192,839
241,873 196,839

CURRENT ASSETS
Stocks 1,764,691 959,144
Debtors 6 27,015 18,165
Cash at bank 14,338 12,758
1,806,044 990,067
CREDITORS
Amounts falling due within one year 7 1,562,963 833,953
NET CURRENT ASSETS 243,081 156,114
TOTAL ASSETS LESS CURRENT
LIABILITIES

484,954

352,953

CREDITORS
Amounts falling due after more than one
year

8

(16,069

)

(26,069

)

PROVISIONS FOR LIABILITIES (32,462 ) (22,788 )
NET ASSETS 436,423 304,096

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 436,422 304,095
436,423 304,096

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Williams Motor Company Ltd (Registered number: 12253228)

Balance Sheet - continued
31 October 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 15 August 2024 and were signed by:





W S Beech - Director


Williams Motor Company Ltd (Registered number: 12253228)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Williams Motor Company Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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

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
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Williams Motor Company Ltd (Registered number: 12253228)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company makes employer pension contributions in accordance with auto enrolment legislation.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2022
and 31 October 2023 10,000
AMORTISATION
At 1 November 2022 6,000
Charge for year 2,000
At 31 October 2023 8,000
NET BOOK VALUE
At 31 October 2023 2,000
At 31 October 2022 4,000

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 November 2022 242,471
Additions 123,853
Disposals (10,000 )
At 31 October 2023 356,324
DEPRECIATION
At 1 November 2022 49,632
Charge for year 69,315
Eliminated on disposal (2,496 )
At 31 October 2023 116,451
NET BOOK VALUE
At 31 October 2023 239,873
At 31 October 2022 192,839

Williams Motor Company Ltd (Registered number: 12253228)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 18,626 9,411
Other debtors 8,389 8,754
27,015 18,165

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 81,477 83,685
Trade creditors 120,675 78,522
Amounts owed to group undertakings 29,468 29,468
Taxation and social security 82,557 73,863
Other creditors 1,248,786 568,415
1,562,963 833,953

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 16,069 26,069

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 71,477 73,685
Other loans 1,168,304 508,018
1,239,781 581,703

The other loans are reflected in other creditors and are secured on the stock.

In respect of the bank overdraft, the security is as follows:-

Clydesdale Bank PLC
Date of charge 12th July 2022.

Security:

Fixed and floating charge that covers all the property or undertaking of the company.
Contains a negative pledge.

Williams Motor Company Ltd (Registered number: 12253228)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

10. RELATED PARTY DISCLOSURES

WE Beech Holdings Ltd (parent company)

Monies were loaned between the companies on an interest free unsecured basis. The balance owing and reflected in current liabilities at 31st October 2023: £29,468, (2022: £29,468).

Capture Motorsport Ltd

A company Mrs E Beech (shareholder in WE Beech Holdings Ltd).

Monies were loaned to this company on an interest free unsecured basis. The balance owed from this company and reflected in other debtors at 31st October 2023: £2,600, (2022: £Nil).

11. ULTIMATE CONTROLLING PARTY

The controlling party is WE Beech Holdings Ltd.

The ultimate controlling party is Mr W E Beech.