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WILLIAMS BAIN LIMITED

Registered Number
08001329
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

WILLIAMS BAIN LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

KITCHEN, Mark
KITCHEN, Toni Gail

Registered Address

124 City Road
London
EC1V 2NX

Registered Number

08001329 (England and Wales)
WILLIAMS BAIN LIMITED
Statement of Financial Position
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets3567656
567656
Current assets
Debtors497,833505,942
Cash at bank and on hand258,441177,991
356,274683,933
Creditors amounts falling due within one year5(301,038)(450,158)
Net current assets (liabilities)55,236233,775
Total assets less current liabilities55,803234,431
Creditors amounts falling due after one year6(31,250)(41,250)
Net assets24,553193,181
Capital and reserves
Called up share capital220220
Profit and loss account24,333192,961
Shareholders' funds24,553193,181
The financial statements were approved and authorised for issue by the Board of Directors on 29 August 2024, and are signed on its behalf by:
KITCHEN, Mark
Director
Registered Company No. 08001329
WILLIAMS BAIN LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Fixtures and fittings5
Office Equipment2
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
Financial instruments
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.Average number of employees

20242023
Average number of employees during the year33
3.Tangible fixed assets

Fixtures & fittings

Office Equipment

Total

£££
Cost or valuation
At 01 April 232,82623,63626,462
Additions-1,1351,135
Disposals(2,826)(23,636)(26,462)
At 31 March 24-1,1351,135
Depreciation and impairment
At 01 April 232,17023,63625,806
Charge for year163568731
On disposals(2,333)(23,636)(25,969)
At 31 March 24-568568
Net book value
At 31 March 24-567567
At 31 March 23656-656
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables96,589464,933
Other debtors1,24441,009
Total97,833505,942
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables11,599130,936
Bank borrowings and overdrafts5,000-
Amounts owed to related parties202,362167,638
Taxation and social security70,060142,509
Dividends payable-5,000
Other creditors10,8172,875
Accrued liabilities and deferred income1,2001,200
Total301,038450,158
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts31,25041,250
Total31,25041,250