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REGISTERED NUMBER: 08882089 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

William May Holdings Limited

William May Holdings Limited (Registered number: 08882089)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


William May Holdings Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: Mr I Jowett
Mr G W Jowett
Mr W A O'Donnell





REGISTERED OFFICE: 5 Dormy Close
Bramcote
Nottinghamshire
NG9 3DE





REGISTERED NUMBER: 08882089 (England and Wales)





ACCOUNTANTS: Franklins
1 Pinnacle Way
Pride Park
Derby
Derbyshire
DE24 8ZS

William May Holdings Limited (Registered number: 08882089)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 156,886 5,110
Investments 5 290 190
Investment property 6 7,856,019 9,817,918
8,013,195 9,823,218

CURRENT ASSETS
Stocks - 782,546
Debtors 7 5,295,505 3,714,180
Cash at bank and in hand 1,481,212 1,185,660
6,776,717 5,682,386
CREDITORS
Amounts falling due within one year 8 335,631 1,673,749
NET CURRENT ASSETS 6,441,086 4,008,637
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,454,281

13,831,855

CREDITORS
Amounts falling due after more than one
year

9

(4,886,024

)

(4,924,843

)

PROVISIONS FOR LIABILITIES (727,424 ) (792,773 )
NET ASSETS 8,840,833 8,114,239

CAPITAL AND RESERVES
Called up share capital 10 90 90
Non distributable reserve 11 2,064,605 2,374,485
Retained earnings 6,776,138 5,739,664
SHAREHOLDERS' FUNDS 8,840,833 8,114,239

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

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

The directors acknowledge their 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.

William May Holdings Limited (Registered number: 08882089)

Balance Sheet - continued
31 December 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 Board of Directors and authorised for issue on 19 September 2024 and were signed on its behalf by:




Mr I Jowett - Director Mr G W Jowett - Director




Mr W A O'Donnell - Director


William May Holdings Limited (Registered number: 08882089)

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

1. STATUTORY INFORMATION

William May Holdings Limited 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 as modified by the revaluation of certain assets.

Preparation of consolidated financial statements
The financial statements contain information about William May Holdings Limited as an individual company and do not contain consolidated financial information as the parent of the group.

Turnover
Turnover represents net invoiced rent, excluding value added tax.

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 - 20% on reducing balance
Motor vehicles - 20% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

William May Holdings Limited (Registered number: 08882089)

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

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 January 2023 - 6,388 - 6,388
Additions 52,000 109,698 29,300 190,998
At 31 December 2023 52,000 116,086 29,300 197,386
DEPRECIATION
At 1 January 2023 - 1,278 - 1,278
Charge for year 10,400 22,962 5,860 39,222
At 31 December 2023 10,400 24,240 5,860 40,500
NET BOOK VALUE
At 31 December 2023 41,600 91,846 23,440 156,886
At 31 December 2022 - 5,110 - 5,110

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023 190
Additions 100
At 31 December 2023 290
NET BOOK VALUE
At 31 December 2023 290
At 31 December 2022 190

William May Holdings Limited (Registered number: 08882089)

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

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 9,817,918
Additions 238,101
Disposals (1,786,826 )
Revaluations (413,174 )
At 31 December 2023 7,856,019
NET BOOK VALUE
At 31 December 2023 7,856,019
At 31 December 2022 9,817,918

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2019 2,378,924
Valuation in 2020 99,806
Valuation in 2021 1,203,559
Valuation in 2022 (516,308 )
Valuation in 2023 (413,174 )
Cost 5,103,212
7,856,019

Investment property was valued on an open market basis on 31 December 2023 by Ian Jowett .

Fixed assets, included in the above, which are held under finance leases are as follows:
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 666,928
NET BOOK VALUE
At 31 December 2023 666,928
At 31 December 2022 666,928

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 30,414 10,282
Other debtors 5,265,091 3,703,898
5,295,505 3,714,180

William May Holdings Limited (Registered number: 08882089)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,157
Hire purchase contracts 8,187 -
Trade creditors 57,871 1,091,242
Taxation and social security 2,943 6,569
Other creditors 256,630 565,781
335,631 1,673,749

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 4,886,024 4,924,843

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
90 Ordinary £1 90 90

11. RESERVES
Non
distributable
reserve
£   
At 1 January 2023 2,374,485
Investment property revaluation (413,174 )
Deferred tax 103,294

At 31 December 2023 2,064,605

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
£    £   
Mr I Jowett
Balance outstanding at start of year - -
Amounts advanced 83,007 21,307
Amounts repaid (83,007 ) (21,307 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

William May Holdings Limited (Registered number: 08882089)

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

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

Mr G W Jowett
Balance outstanding at start of year - -
Amounts advanced 169,856 113,953
Amounts repaid (169,856 ) (113,953 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

Mr W A O'Donnell
Balance outstanding at start of year (30 ) (36 )
Amounts advanced 109,576 79,606
Amounts repaid (51,029 ) (79,600 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 58,517 (30 )

Interest was charged on the overdrawn director's loan account at HM Revenue & Customs official rate of interest during the year at 2% per annum until 5th April 2023 and 2.25% per annum thereafter.

The overdrawn director's loan account was cleared within nine months of the year end.

13. RELATED PARTY DISCLOSURES

The balance outstanding on interest free loans provided to companies with common directors and under common control amounted to £744,640 (2022: £216,258).

The balance outstanding on interest free loans provided to companies with common directors amounted to £3,219,878 (2022: £945,100)

The balance outstanding on interest free loans provided from companies with common directors and under common control amounted to £16,799 (2022: £2,374,641 Dr).

The balance outstanding on interest free loans provided from companies with common directors amounted to £Nil (2022: £50).