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COMPANY REGISTRATION NUMBER: 14937332
A&S Williamson Properties Ltd
Filleted Unaudited Financial Statements
30 June 2024
A&S Williamson Properties Ltd
Statement of Financial Position
30 June 2024
2024
Note
£
Fixed assets
Investments
5
2,923,000
Current assets
Cash at bank and in hand
11,356
Creditors: amounts falling due within one year
6
49,941
--------
Net current liabilities
38,585
------------
Total assets less current liabilities
2,884,415
Creditors: amounts falling due after more than one year
7
1,792,099
------------
Net assets
1,092,316
------------
Capital and reserves
Called up share capital
100
Share premium account
1,274,919
Profit and loss account
( 182,703)
------------
Shareholders funds
1,092,316
------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
For the year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
A&S Williamson Properties Ltd
Statement of Financial Position (continued)
30 June 2024
These financial statements were approved by the board of directors and authorised for issue on 28 September 2024 , and are signed on behalf of the board by:
Mr A J Williamson
Mrs A S Williamson
Director
Director
Company registration number: 14937332
A&S Williamson Properties Ltd
Notes to the Financial Statements
Year ended 30 June 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 15 Cae Bryn, Garth, Llangollen, LL20 7DQ.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The directors consider it appropriate to prepare the accounts on a going concern basis due to their continued support and the steps taken to stabilise the business.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents rents due from tenants in the period.
Property investments
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Financial instruments
The following assets and liabilities within the accounts are classified as financial instruments - trade debtors, trade creditors and directors loans. Directors loans (being repayable upon demand), trade debtors and trade creditors, are measured at the undiscounted amount of cash or other consideration expected to be paid or received. Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If such evidence is found, an impairment loss is recognised in the statement of Income and Retained Earnings.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 .
5. Investments
Other investments other than loans
£
Cost
At 1 July 2023
Additions
3,264,000
Disposals
( 258,000)
Revaluations
( 83,000)
------------
At 30 June 2024
2,923,000
------------
Impairment
At 1 July 2023 and 30 June 2024
------------
Carrying amount
At 30 June 2024
2,923,000
------------
6. Creditors: amounts falling due within one year
2024
£
Bank loans and overdrafts
6,691
Other creditors
43,250
--------
49,941
--------
7. Creditors: amounts falling due after more than one year
2024
£
Bank loans and overdrafts
1,792,099
------------
8. Directors' advances, credits and guarantees
In the year the directors operated a loan account with the company. The opening balance was £nil and the closing balance was £41,416. The loan is repayable upon demand and interest free.