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Company No: 00960965 (England and Wales)

E AND P MCWILLIAMS LIMITED

Unaudited Financial Statements
For the financial year ended 19 February 2024
Pages for filing with the registrar

E AND P MCWILLIAMS LIMITED

Unaudited Financial Statements

For the financial year ended 19 February 2024

Contents

E AND P MCWILLIAMS LIMITED

BALANCE SHEET

As at 19 February 2024
E AND P MCWILLIAMS LIMITED

BALANCE SHEET (continued)

As at 19 February 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 339,060 336,892
339,060 336,892
Current assets
Debtors 4 4,111 4,111
Cash at bank and in hand 6,615 8,823
10,726 12,934
Creditors: amounts falling due within one year 5 ( 103,856) ( 105,824)
Net current liabilities (93,130) (92,890)
Total assets less current liabilities 245,930 244,002
Net assets 245,930 244,002
Capital and reserves
Called-up share capital 120 120
Other reserves 4,798 4,798
Profit and loss account 241,012 239,084
Total shareholder's funds 245,930 244,002

For the financial year ending 19 February 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of E and P McWilliams Limited (registered number: 00960965) were approved and authorised for issue by the Board of Directors on 30 October 2024. They were signed on its behalf by:

S J McWilliams
Director
E AND P MCWILLIAMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 19 February 2024
E AND P MCWILLIAMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 19 February 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

E and P McWilliams Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover represents rental income . Rental income is accounted for in the period in which it relates.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Fixtures and fittings 10 % reducing balance
Office equipment 10 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Land and buildings Fixtures and fittings Office equipment Total
£ £ £ £
Cost
At 20 February 2023 330,781 32,273 300 363,354
Additions 0 1,938 1,022 2,960
At 19 February 2024 330,781 34,211 1,322 366,314
Accumulated depreciation
At 20 February 2023 0 26,430 32 26,462
Charge for the financial year 0 710 82 792
At 19 February 2024 0 27,140 114 27,254
Net book value
At 19 February 2024 330,781 7,071 1,208 339,060
At 19 February 2023 330,781 5,843 268 336,892

4. Debtors

2024 2023
£ £
Other debtors 4,111 4,111

5. Creditors: amounts falling due within one year

2024 2023
£ £
Taxation and social security 2,427 3,066
Other creditors 101,429 102,758
103,856 105,824