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REGISTERED NUMBER: 08882244 (England and Wales)















WILLSON'S GLASS, FRAMING & TIMBER LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






WILLSON'S GLASS, FRAMING & TIMBER LTD (REGISTERED NUMBER: 08882244)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


WILLSON'S GLASS, FRAMING & TIMBER LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Mrs J Willson
D A Willson





REGISTERED OFFICE: 5 Resolution Close
Endeavour Park
Boston
Lincolnshire
PE21 7TT





REGISTERED NUMBER: 08882244 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
5 Resolution Close
Endeavour Park
Boston
Lincolnshire
PE21 7TT

WILLSON'S GLASS, FRAMING & TIMBER LTD (REGISTERED NUMBER: 08882244)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - 1,070
Tangible assets 5 24,803 36,985
24,803 38,055

CURRENT ASSETS
Stocks 59,000 59,000
Debtors 6 39,136 54,262
Cash at bank and in hand 221,292 140,216
319,428 253,478
CREDITORS
Amounts falling due within one year 7 94,202 93,391
NET CURRENT ASSETS 225,226 160,087
TOTAL ASSETS LESS CURRENT LIABILITIES 250,029 198,142

PROVISIONS FOR LIABILITIES 6,201 8,889
NET ASSETS 243,828 189,253

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 243,728 189,153
SHAREHOLDERS' FUNDS 243,828 189,253

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 14 November 2024 and were signed on its behalf by:





D A Willson - Director


WILLSON'S GLASS, FRAMING & TIMBER LTD (REGISTERED NUMBER: 08882244)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Willson's Glass, Framing & Timber Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


The company's place of business is The Hollies, Main Street, Trusthorpe, Mablethorpe, Lincolnshire, LN12 2QE.

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.

Turnover
Turnover represents net invoiced sales of goods, excluding value added tax, and is recognised on an invoice basis.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.

Property, plant and equipment
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life..

Plant and machinery- 15% on cost
Motor vehicles- 25% on cost

Stocks
Stocks have been valued at the lower of cost and estimated selling price less costs to sell after making due allowance for obsolete and slow moving items.

Financial instruments
The company has chosen to adopt the FRS 102A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

At the end of each reporting period, financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in the income statement.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.


WILLSON'S GLASS, FRAMING & TIMBER LTD (REGISTERED NUMBER: 08882244)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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 4 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 10,700
AMORTISATION
At 1 April 2023 9,630
Charge for year 1,070
At 31 March 2024 10,700
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 1,070

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 53,013 7,921 67,768 2,376 131,078
Disposals (333 ) - (14,950 ) (440 ) (15,723 )
At 31 March 2024 52,680 7,921 52,818 1,936 115,355
DEPRECIATION
At 1 April 2023 39,985 3,232 49,832 1,044 94,093
Charge for year 2,764 1,188 5,785 235 9,972
Eliminated on disposal (150 ) - (13,081 ) (282 ) (13,513 )
At 31 March 2024 42,599 4,420 42,536 997 90,552
NET BOOK VALUE
At 31 March 2024 10,081 3,501 10,282 939 24,803
At 31 March 2023 13,028 4,689 17,936 1,332 36,985

WILLSON'S GLASS, FRAMING & TIMBER LTD (REGISTERED NUMBER: 08882244)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 36,425 51,039
Other debtors 2,711 3,223
39,136 54,262

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 36,122 40,661
Taxation and social security 51,681 46,409
Other creditors 6,399 6,321
94,202 93,391

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100