Company Registration No. 00619914 (England and Wales)
Frederick William & Company Limited
Unaudited accounts
for the year ended 31 December 2023
Frederick William & Company Limited
Unaudited accounts
Contents
Frederick William & Company Limited
Company Information
for the year ended 31 December 2023
Directors
D W Roiser
D E Dicker
J D R Dore
H L Dore
Company Number
00619914 (England and Wales)
Registered Office
8 Windsor Close
Rustington
Littlehampton
West Sussex
BN16 3TJ
Accountants
Keymer Haslam & Co
4/6 Church Road
Burgess Hill
West Sussex
RH15 9AE
Frederick William & Company Limited
Statement of financial position
as at 31 December 2023
Tangible assets
1,074
1,263
Investment property
2,036,838
1,979,717
Cash at bank and in hand
48,938
41,967
Creditors: amounts falling due within one year
(109,258)
(96,521)
Net current liabilities
(52,589)
(45,343)
Total assets less current liabilities
1,985,323
1,935,637
Creditors: amounts falling due after more than one year
(32,930)
-
Provisions for liabilities
Deferred tax
(163,723)
(135,282)
Net assets
1,788,670
1,800,355
Called up share capital
2,000
2,000
Profit and loss account
1,786,670
1,798,355
Shareholders' funds
1,788,670
1,800,355
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2024 and were signed on its behalf by
D W Roiser
Director
Company Registration No. 00619914
Frederick William & Company Limited
Notes to the Accounts
for the year ended 31 December 2023
Frederick William & Company Limited is a private company, limited by shares, registered in England and Wales, registration number 00619914. The registered office is 8 Windsor Close, Rustington, Littlehampton, West Sussex, BN16 3TJ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
15% on a reducing balance basis
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
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 accounts. 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 current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Frederick William & Company Limited
Notes to the Accounts
for the year ended 31 December 2023
4
Tangible fixed assets
Fixtures & fittings
At 31 December 2023
109,497
At 31 December 2023
108,423
Fair value at 1 January 2023
1,979,717
At 31 December 2023
2,036,838
The freehold investment property was valued by the directors on an open market basis on 31 December 2017. The historical cost of the investment property is £55,917 (2018 £55,917).
Amounts falling due within one year
Accrued income and prepayments
1,944
1,764
7
Creditors: amounts falling due within one year
2023
2022
Trade creditors
58,199
49,745
Taxes and social security
49,509
41,281
8
Creditors: amounts falling due after more than one year
2023
2022
Frederick William & Company Limited
Notes to the Accounts
for the year ended 31 December 2023
9
Average number of employees
During the year the average number of employees was 2 (2022: 2).