Ted Williams (Sheffield) Limited 00499901 false 2023-10-01 2024-09-30 2024-09-30 The principal activity of the company is The principal activity of the company continued to be that of ready made and bespoke tailoring. Digita Accounts Production Advanced 6.30.9574.0 true 00499901 2023-10-01 2024-09-30 00499901 2024-09-30 00499901 core:OtherReservesSubtotal 2024-09-30 00499901 core:RetainedEarningsAccumulatedLosses 2024-09-30 00499901 core:ShareCapital 2024-09-30 00499901 core:CurrentFinancialInstruments 2024-09-30 00499901 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 00499901 core:FurnitureFittingsToolsEquipment 2024-09-30 00499901 core:MotorVehicles 2024-09-30 00499901 bus:SmallEntities 2023-10-01 2024-09-30 00499901 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 00499901 bus:FilletedAccounts 2023-10-01 2024-09-30 00499901 bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 00499901 bus:RegisteredOffice 2023-10-01 2024-09-30 00499901 bus:Director1 2023-10-01 2024-09-30 00499901 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 00499901 core:ComputerEquipment 2023-10-01 2024-09-30 00499901 core:FurnitureFittings 2023-10-01 2024-09-30 00499901 core:FurnitureFittingsToolsEquipment 2023-10-01 2024-09-30 00499901 core:LandBuildings 2023-10-01 2024-09-30 00499901 core:MotorVehicles 2023-10-01 2024-09-30 00499901 countries:AllCountries 2023-10-01 2024-09-30 00499901 2023-09-30 00499901 core:FurnitureFittingsToolsEquipment 2023-09-30 00499901 core:MotorVehicles 2023-09-30 00499901 2022-10-01 2023-09-30 00499901 2023-09-30 00499901 core:OtherReservesSubtotal 2023-09-30 00499901 core:RetainedEarningsAccumulatedLosses 2023-09-30 00499901 core:ShareCapital 2023-09-30 00499901 core:CurrentFinancialInstruments 2023-09-30 00499901 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 00499901 core:FurnitureFittingsToolsEquipment 2023-09-30 00499901 core:MotorVehicles 2023-09-30 iso4217:GBP xbrli:pure

Registration number: 00499901

Ted Williams (Sheffield) Limited

Director's Report and Unaudited Financial Statements

for the Year Ended 30 September 2024

 

Ted Williams (Sheffield) Limited

(Registration number: 00499901)

Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

3

7,979

8,864

Current assets

 

Stocks

4

7,618

7,823

Debtors

5

472

2,652

Cash at bank and in hand

 

66,813

113,835

 

74,903

124,310

Creditors: Amounts falling due within one year

6

(8,060)

(5,169)

Net current assets

 

66,843

119,141

Total assets less current liabilities

 

74,822

128,005

Provisions for liabilities

(723)

(807)

Net assets

 

74,099

127,198

Capital and reserves

 

Called up share capital

2,000

2,000

Other reserves

800

800

Retained earnings

71,299

124,398

Shareholders' funds

 

74,099

127,198

For the financial year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Director's Report and the Profit and Loss Account has been taken.

These financial statements, which have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A Small Entities, were approved and authorised for issue by the director on 17 December 2024
 

.........................................

S M Guest

Director

 

Ted Williams (Sheffield) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

1

Accounting policies

Ted Williams (Sheffield) Limited is a private company, limited by shares, domiciled in England and Wales, company number 00499901. The registered office is at Pegasus House, 463a Glossop Road, Sheffield, South Yorkshire, S10 2QD.

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value. The presentation currency is United Kingdom pounds sterling, which is the functional currency of the company. The financial statements are those of an individual entity.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Government grants

Grants that do not impose specified future performance-related conditions are recognised in income when the grant proceeds are received or receivable.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

 

Ted Williams (Sheffield) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

1

Accounting policies (continued)

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold land and buildings

2% straight line per annum

Fixtures and fittings

10% reducing balance

Motor vehicles

25% reducing balance

Office equipment

33.33% straight line per annum

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the statement of comprehensive income.

2

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Ted Williams (Sheffield) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

3

Tangible assets

Fixtures and fittings
 £

Motor vehicles
 £

Total
£

Cost

At 1 October 2023

10,876

3,500

14,376

At 30 September 2024

10,876

3,500

14,376

Depreciation

At 1 October 2023

2,012

3,500

5,512

Charge for the year

885

-

885

At 30 September 2024

2,897

3,500

6,397

Carrying amount

At 30 September 2024

7,979

-

7,979

At 30 September 2023

8,864

-

8,864

4

Stocks

2024
£

2023
£

Raw materials and consumables

6,871

6,727

Work in progress

747

1,096

7,618

7,823

 

Ted Williams (Sheffield) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024 (continued)

5

Debtors

Current

2024
£

2023
£

Trade debtors

144

2,400

Prepayments

328

252

 

472

2,652

6

Creditors

2024
£

2023
£

Due within one year

Trade creditors

189

-

Taxation and social security

4,121

1,419

Accruals and deferred income

2,750

2,750

Other creditors

1,000

1,000

8,060

5,169