Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-30true2023-05-01falsecommunity pharmacy1818trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 00811479 2024-04-30 00811479 2023-05-01 2024-04-30 00811479 2022-05-01 2023-04-30 00811479 2023-04-30 00811479 c:Director2 2023-05-01 2024-04-30 00811479 d:Buildings 2023-05-01 2024-04-30 00811479 d:Buildings 2024-04-30 00811479 d:Buildings 2023-04-30 00811479 d:Buildings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 00811479 d:Buildings d:LongLeaseholdAssets 2023-05-01 2024-04-30 00811479 d:Buildings d:LongLeaseholdAssets 2024-04-30 00811479 d:Buildings d:LongLeaseholdAssets 2023-04-30 00811479 d:Buildings d:ShortLeaseholdAssets 2023-05-01 2024-04-30 00811479 d:Buildings d:ShortLeaseholdAssets 2024-04-30 00811479 d:Buildings d:ShortLeaseholdAssets 2023-04-30 00811479 d:FurnitureFittings 2023-05-01 2024-04-30 00811479 d:FurnitureFittings 2024-04-30 00811479 d:FurnitureFittings 2023-04-30 00811479 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 00811479 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 00811479 d:CurrentFinancialInstruments 2024-04-30 00811479 d:CurrentFinancialInstruments 2023-04-30 00811479 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 00811479 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 00811479 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-04-30 00811479 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-04-30 00811479 d:ShareCapital 2024-04-30 00811479 d:ShareCapital 2023-04-30 00811479 d:RevaluationReserve 2024-04-30 00811479 d:RevaluationReserve 2023-04-30 00811479 d:ForeignCurrencyTranslationReserve 2024-04-30 00811479 d:ForeignCurrencyTranslationReserve 2023-04-30 00811479 d:RetainedEarningsAccumulatedLosses 2024-04-30 00811479 d:RetainedEarningsAccumulatedLosses 2023-04-30 00811479 c:FRS102 2023-05-01 2024-04-30 00811479 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 00811479 c:FullAccounts 2023-05-01 2024-04-30 00811479 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 00811479 2 2023-05-01 2024-04-30 00811479 5 2023-05-01 2024-04-30 00811479 6 2023-05-01 2024-04-30 00811479 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Registered number: 00811479










JOHN & MICHAEL WILLIAMS (BRYNMAWR) LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
JOHN & MICHAEL WILLIAMS (BRYNMAWR) LIMITED
REGISTERED NUMBER: 00811479

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
510,825
518,465

Investments
 5 
42,694
42,694

  
553,519
561,159

Current assets
  

Stocks
 6 
115,647
119,691

Debtors: amounts falling due within one year
 7 
235,377
287,754

Cash at bank and in hand
 8 
132,767
79,698

  
483,791
487,143

Creditors: amounts falling due within one year
 9 
(268,573)
(252,800)

Net current assets
  
 
 
215,218
 
 
234,343

Total assets less current liabilities
  
768,737
795,502

Provisions for liabilities
  

Deferred tax
  
(8,954)
(6,966)

  
 
 
(8,954)
 
 
(6,966)

Accruals and deferred income
 10 
(5,700)
(5,976)

Net assets
  
754,083
782,560


Capital and reserves
  

Called up share capital 
  
2,000
2,000

Revaluation reserve
  
132,501
132,501

Other reserves
  
142,785
143,802

Profit and loss account
  
476,797
504,257

  
754,083
782,560


Page 1

 
JOHN & MICHAEL WILLIAMS (BRYNMAWR) LIMITED
REGISTERED NUMBER: 00811479
    
BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Michael Huw Williams
Director

Date: 14 October 2024

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
JOHN & MICHAEL WILLIAMS (BRYNMAWR) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

John & Michael Williams (Brynmawr) Limited is a private company, limited by shares, registered in England and Wales, registration number 00811479. The address of the registered office is 47-48 Church Street, Abertillery, Gwent, NP13 1DB.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The presentation currency of the financial statements is the pound sterling (£) and these have been rounded to the nearest pound.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company has both net current assets and net assets at the balance sheet date. The directors have assessed the balance sheet and likely future cash flows of the company at the date of approving the financial statements.
The directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Page 3

 
JOHN & MICHAEL WILLIAMS (BRYNMAWR) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 4

 
JOHN & MICHAEL WILLIAMS (BRYNMAWR) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Current and deferred taxation

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

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.8

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
JOHN & MICHAEL WILLIAMS (BRYNMAWR) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.8
Tangible fixed assets (continued)

Land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Freehold property
-
2%
Building improvements
-
2%
Fixtures and fittings
-
10%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.9

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.10

Investment property

Investment property is carried at fair value determined annually by external valuers 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. Changes in fair value are recognised in profit or loss.

 
2.11

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Page 6

 
JOHN & MICHAEL WILLIAMS (BRYNMAWR) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.12

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Stock is valued by Messrs, Orridge & Co., a firm of professional Pharmaceutical stocktakers. Cost is based on the cost of purchase on a first in, first out basis.

At each balance sheet date, stocks are assessed for impairment. If stock is 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.

 
2.13

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.14

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.15

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.16

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.17

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

  
2.18

Preparation of consolidated financial statements

The financial statements contain information about John & Michael Williams (Brynmawr) Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Page 7

 
JOHN & MICHAEL WILLIAMS (BRYNMAWR) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

  
2.19

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.


3.


Employees

The average monthly number of employees, including directors, during the year was 18 (2023 - 18).


4.


Tangible fixed assets





Freehold property
Investment property
Building improve-  ments
Fixtures and fittings
Total

£
£
£
£
£



Cost or valuation


At 1 May 2023
161,073
200,000
214,288
70,251
645,612



At 30 April 2024

161,073
200,000
214,288
70,251
645,612



Depreciation


At 1 May 2023
54,461
-
4,286
68,401
127,148


Charge for the year on owned assets
2,819
-
4,286
534
7,639



At 30 April 2024

57,280
-
8,572
68,935
134,787



Net book value



At 30 April 2024
103,793
200,000
205,716
1,316
510,825



At 30 April 2023
106,612
200,000
210,002
1,850
518,464

Page 8

 
JOHN & MICHAEL WILLIAMS (BRYNMAWR) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
Cost or valuation is as follows:

Land and buildings
£


At cost
445,018
At valuation:

Revaluation - April 2022
130,343



575,361

If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:

2024
2023
£
£



Cost
445,018
445,018

Accumulated depreciation
(144,384)
(135,484)

Net book value
300,634
309,534


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 May 2023
42,694



At 30 April 2024
42,694





6.


Stocks

2024
2023
£
£

Finished goods and goods for resale
115,647
119,691

115,647
119,691


Page 9

 
JOHN & MICHAEL WILLIAMS (BRYNMAWR) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

7.


Debtors

2024
2023
£
£


Trade debtors
200,188
193,701

Amounts owed by group undertakings
-
49,596

Other debtors
26,372
37,089

Prepayments and accrued income
8,817
7,368

235,377
287,754



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
132,767
79,698

132,767
79,698



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
193,149
179,902

Amounts owed to group undertakings
11,996
-

Corporation tax
-
11,886

Other taxation and social security
2,903
5,929

Other creditors
2,417
3,007

Accruals and deferred income
58,108
52,076

268,573
252,800



10.


Accruals and deferred income

2024
2023
£
£

Deferred income
5,700
5,976

5,700
5,976


Page 10

 
JOHN & MICHAEL WILLIAMS (BRYNMAWR) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

11.

Reserves


Revalution reserve
Fair value reserve
Totals

As at 30 April 2023
132,501
143,802
276,303

Movement in year
-
(1,017)
(1,017)

As at 30 April 2024
132,501
142,785
275,286


12.


Pension commitments

The Company operates a defined contribution pension scheme for its directors and employees. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £8,572 (2023:- £7,882) . At the balance sheet date, unpaid contributions totalling £1,773 (2023 - £1,540) were payable to the fund at the balance sheet date and are included in other creditors.


13.


Transactions with directors

The following advances and credits to directors subsisted during the years ended 30 April 2024 and 30 April 2023:

2024
2023
£
£
J Williams & B Williams
Balances outstanding at the start of year

3,234

(366)
 
Amounts advanced

14,766

18,000
 
Amounts repaid

(18,000)

(14,400)
 
Amounts written off

-

-
 
Amounts waived

-

-
 
Balance outstanding at end of year
-

3,234
 

Page 11

 
JOHN & MICHAEL WILLIAMS (BRYNMAWR) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


2024
2023
£
£
D Williams
Balances outstanding at the start of year

(327)

(327)
 
Amounts advanced

2,500

7,400
 
Amounts repaid

(1,800)

(7,400)
 
Amounts written off

-

-
 
Amounts waived

-

-
 
Balance outstanding at end of year
373

(327)
 

At the balance sheet date, the company owed its directors £644 (2023:- £1,572)
The directors' loans are unsecured and repayable on demand.

 
Page 12