0 false false false false false false false false false true false false false false false false No description of principal activity 2023-06-01 Sage Accounts Production Advanced 2023 - FRS102_2023 100 100 100 xbrli:pure xbrli:shares iso4217:GBP 08514096 2023-06-01 2024-05-31 08514096 2024-05-31 08514096 2023-05-31 08514096 2022-06-01 2023-05-31 08514096 2023-05-31 08514096 2022-05-31 08514096 core:LandBuildings core:LongLeaseholdAssets 2023-06-01 2024-05-31 08514096 core:PlantMachinery 2023-06-01 2024-05-31 08514096 bus:Director1 2023-06-01 2024-05-31 08514096 core:LandBuildings core:OwnedOrFreeholdAssets 2023-05-31 08514096 core:LandBuildings core:LongLeaseholdAssets 2023-05-31 08514096 core:PlantMachinery 2023-05-31 08514096 core:LandBuildings core:OwnedOrFreeholdAssets 2024-05-31 08514096 core:LandBuildings core:LongLeaseholdAssets 2024-05-31 08514096 core:PlantMachinery 2024-05-31 08514096 core:WithinOneYear 2024-05-31 08514096 core:WithinOneYear 2023-05-31 08514096 core:ShareCapital 2024-05-31 08514096 core:ShareCapital 2023-05-31 08514096 core:RevaluationReserve 2024-05-31 08514096 core:RevaluationReserve 2023-05-31 08514096 core:RetainedEarningsAccumulatedLosses 2024-05-31 08514096 core:RetainedEarningsAccumulatedLosses 2023-05-31 08514096 core:CostValuation core:Non-currentFinancialInstruments 2024-05-31 08514096 core:Non-currentFinancialInstruments 2024-05-31 08514096 core:Non-currentFinancialInstruments 2023-05-31 08514096 core:LandBuildings core:OwnedOrFreeholdAssets 2023-05-31 08514096 core:LandBuildings core:LongLeaseholdAssets 2023-05-31 08514096 core:PlantMachinery 2023-05-31 08514096 bus:SmallEntities 2023-06-01 2024-05-31 08514096 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 08514096 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 08514096 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 08514096 bus:FullAccounts 2023-06-01 2024-05-31
COMPANY REGISTRATION NUMBER: 08514096
Williamson Properties Limited
Filleted Unaudited Financial Statements
31 May 2024
Williamson Properties Limited
Financial Statements
Year ended 31 May 2024
Contents
Page
Balance sheet
1
Notes to the financial statements
3
Williamson Properties Limited
Balance Sheet
31 May 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
4
1,329,569
1,288,362
Investments
5
100
100
------------
------------
1,329,669
1,288,462
Current assets
Debtors
6
12,882
4,664
Cash at bank and in hand
89,107
733,379
---------
---------
101,989
738,043
Creditors: amounts falling due within one year
7
110,599
708,716
---------
---------
Net current (liabilities)/assets
( 8,610)
29,327
------------
------------
Total assets less current liabilities
1,321,059
1,317,789
Provisions
Taxation including deferred tax
83,807
73,321
------------
------------
Net assets
1,237,252
1,244,468
------------
------------
Williamson Properties Limited
Balance Sheet (continued)
31 May 2024
2024
2023
Note
£
£
£
£
Capital and reserves
Called up share capital
200
200
Revaluation reserve
169,449
169,449
Profit and loss account
1,067,603
1,074,819
------------
------------
Shareholders funds
1,237,252
1,244,468
------------
------------
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 profit and loss account has not been delivered.
For the year ending 31 May 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 .
These financial statements were approved by the board of directors and authorised for issue on 21 October 2024 , and are signed on behalf of the board by:
Mr M R Williamson
Director
Company registration number: 08514096
Williamson Properties Limited
Notes to the Financial Statements
Year ended 31 May 2024
1. General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is 6 Corunna Court, Corunna Road, Warwick, CV34 5HQ.
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.
Consolidation
The entity has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the entity and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Current tax is recognised on taxable profit for the current and past periods. Deferred tax is recognised in respect of all timing differences at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Leasehold improvements
-
10% reducing balance
Plant and machinery
-
25% reducing balance
Investment property
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 and loss and a revaluation reserve.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the balance sheet as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
4. Tangible assets
Freehold property
Long leasehold property
Plant and machinery
Total
£
£
£
£
Cost
At 1 June 2023
1,213,658
8,672
112,935
1,335,265
Additions
59,962
1,375
61,337
------------
--------
---------
------------
At 31 May 2024
1,213,658
68,634
114,310
1,396,602
------------
--------
---------
------------
Depreciation
At 1 June 2023
1,321
45,582
46,903
Charge for the year
3,233
16,897
20,130
------------
--------
---------
------------
At 31 May 2024
4,554
62,479
67,033
------------
--------
---------
------------
Carrying amount
At 31 May 2024
1,213,658
64,080
51,831
1,329,569
------------
--------
---------
------------
At 31 May 2023
1,213,658
7,351
67,353
1,288,362
------------
--------
---------
------------
Included within the above is investment property as follows:
£
------------
At 1 June 2023 and 31 May 2024
1,213,658
------------
Investment properties are stated at fair value at the balance sheet date. Fair values are assessed by the directors using their knowledge of relevant market conditions and the properties themselves.
5. Investments
Shares in group undertakings
£
Cost
At 1 June 2023 and 31 May 2024
100
----
Impairment
At 1 June 2023 and 31 May 2024
----
Carrying amount
At 31 May 2024
100
----
At 31 May 2023
100
----
6. Debtors
2024
2023
£
£
Trade debtors
11,281
3,801
Other debtors
1,601
863
--------
-------
12,882
4,664
--------
-------
7. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
517,472
Trade creditors
2,191
1,669
Amounts owed to group undertakings and undertakings in which the company has a participating interest
74,983
74,983
Corporation tax
6,969
34,591
Social security and other taxes
8,821
5,395
Other creditors
17,635
74,606
---------
---------
110,599
708,716
---------
---------