Acorah Software Products - Accounts Production 15.0.600 false true 30 June 2023 1 July 2022 false 1 July 2023 30 June 2024 30 June 2024 10830278 I M Williams M A Wood iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 10830278 frs-core:Non-currentFinancialInstruments frs-core:MoreThanFiveYears 2024-06-30 10830278 2023-06-30 10830278 2024-06-30 10830278 2023-07-01 2024-06-30 10830278 frs-core:CurrentFinancialInstruments 2024-06-30 10830278 frs-core:Non-currentFinancialInstruments 2024-06-30 10830278 frs-core:InvestmentPropertyIncludedWithinPPE 2024-06-30 10830278 frs-core:InvestmentPropertyIncludedWithinPPE 2023-06-30 10830278 frs-core:ShareCapital 2024-06-30 10830278 frs-core:RetainedEarningsAccumulatedLosses 2024-06-30 10830278 frs-bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 10830278 frs-bus:FilletedAccounts 2023-07-01 2024-06-30 10830278 frs-bus:SmallEntities 2023-07-01 2024-06-30 10830278 frs-bus:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 10830278 frs-bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 10830278 frs-bus:Director1 2023-07-01 2024-06-30 10830278 frs-bus:Director2 2023-07-01 2024-06-30 10830278 frs-countries:EnglandWales 2023-07-01 2024-06-30 10830278 frs-core:Non-currentFinancialInstruments frs-core:MoreThanFiveYears 2023-06-30 10830278 2022-06-30 10830278 2023-06-30 10830278 2022-07-01 2023-06-30 10830278 frs-core:CurrentFinancialInstruments 2023-06-30 10830278 frs-core:Non-currentFinancialInstruments 2023-06-30 10830278 frs-core:ShareCapital 2023-06-30 10830278 frs-core:RetainedEarningsAccumulatedLosses 2023-06-30
Registered number: 10830278
Williams and Wood Lettings Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 10830278
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 961,000 707,180
961,000 707,180
CURRENT ASSETS
Debtors 5 3,449 8,481
Cash at bank and in hand 18,533 18,454
21,982 26,935
Creditors: Amounts Falling Due Within One Year 6 (211,215 ) (166,314 )
NET CURRENT ASSETS (LIABILITIES) (189,233 ) (139,379 )
TOTAL ASSETS LESS CURRENT LIABILITIES 771,767 567,801
Creditors: Amounts Falling Due After More Than One Year 7 (626,040 ) (468,851 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (36,505 ) (26,509 )
NET ASSETS 109,222 72,441
CAPITAL AND RESERVES
Called up share capital 9 100 100
Profit and Loss Account 109,122 72,341
SHAREHOLDERS' FUNDS 109,222 72,441
Page 1
Page 2
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.
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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
I M Williams
Director
M A Wood
Director
13th September 2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Williams and Wood Lettings Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10830278 . The registered office is 132-134 Great Ancoats Street, Manchester, M4 6DE.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
Page 3
Page 4
4. Tangible Assets
Investment Properties
£
Cost or Valuation
As at 1 July 2023 707,180
Additions 213,838
Revaluation 39,982
As at 30 June 2024 961,000
Net Book Value
As at 30 June 2024 961,000
As at 1 July 2023 707,180
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 2,695 950
Prepayments and accrued income 754 7,531
3,449 8,481
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 34 13
Other creditors 625 625
Accruals and deferred income 7,487 5,425
Directors' loan accounts 203,069 160,251
211,215 166,314
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 626,040 468,851
626,040 468,851
Amounts falling due in more than five years, repayable otherwise than by instalments.
2024 2023
£ £
Bank loans 626,040 468,851
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8. Secured Creditors
Of the creditors falling due after more than one year the following amounts are secured by fixed charges over the investment properties of the company and have also been personally guaranteed by the directors.
2024 2023
£ £
Bank loans and overdrafts 626,040 468,851
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Reserves
Included within the Profit and Loss Account is £109,514 of non-distributable reserves (2023: £79,528).
11. Related Party Transactions
The Directors' loan accounts represent amounts due to the directors, I Williams and M Wood. The loans are unsecured and interest free with no fixed terms for repayment.
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