Silverfin false false 30/09/2024 01/10/2023 30/09/2024 E M S Williams P A Williams 27/02/2024 P E Williams 27/02/2024 09 January 2025 The principal activity of the company is farming within the United Kingdom. The company farms in partnership with E M S Williams (director), P A Williams and P E Williams trading under the name of East Farm Fovant Partnership. The company's share of partnership profit and losses for the year have been consolidated into these accounts using the single line equity method. 00702956 2024-09-30 00702956 bus:Director2 2024-09-30 00702956 bus:Director3 2024-09-30 00702956 2023-09-30 00702956 core:CurrentFinancialInstruments 2024-09-30 00702956 core:CurrentFinancialInstruments 2023-09-30 00702956 core:ShareCapital 2024-09-30 00702956 core:ShareCapital 2023-09-30 00702956 core:RevaluationReserve 2024-09-30 00702956 core:RevaluationReserve 2023-09-30 00702956 core:RetainedEarningsAccumulatedLosses 2024-09-30 00702956 core:RetainedEarningsAccumulatedLosses 2023-09-30 00702956 core:LandBuildings 2023-09-30 00702956 core:LandBuildings 2024-09-30 00702956 2023-10-01 2024-09-30 00702956 bus:FilletedAccounts 2023-10-01 2024-09-30 00702956 bus:SmallEntities 2023-10-01 2024-09-30 00702956 bus:AuditExemptWithAccountantsReport 2023-10-01 2024-09-30 00702956 bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 00702956 bus:Director1 2023-10-01 2024-09-30 00702956 bus:Director2 2023-10-01 2024-09-30 00702956 bus:Director3 2023-10-01 2024-09-30 00702956 2022-10-01 2023-09-30 00702956 core:LandBuildings 2023-10-01 2024-09-30 iso4217:GBP xbrli:pure

Company No: 00702956 (England and Wales)

M J S WILLIAMS LIMITED

Unaudited Financial Statements
For the financial year ended 30 September 2024
Pages for filing with the registrar

M J S WILLIAMS LIMITED

Unaudited Financial Statements

For the financial year ended 30 September 2024

Contents

M J S WILLIAMS LIMITED

BALANCE SHEET

As at 30 September 2024
M J S WILLIAMS LIMITED

BALANCE SHEET (continued)

As at 30 September 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 2,323,483 2,320,500
2,323,483 2,320,500
Current assets
Debtors 4 597,684 558,899
Cash at bank and in hand 2,464 1,496
600,148 560,395
Creditors: amounts falling due within one year 5 ( 24,686) ( 70,891)
Net current assets 575,462 489,504
Total assets less current liabilities 2,898,945 2,810,004
Net assets 2,898,945 2,810,004
Capital and reserves
Called-up share capital 100 100
Revaluation reserve 1,364,451 1,364,451
Profit and loss account 1,534,394 1,445,453
Total shareholders' funds 2,898,945 2,810,004

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.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of M J S Williams Limited (registered number: 00702956) were approved and authorised for issue by the Board of Directors on 09 January 2025. They were signed on its behalf by:

E M S Williams
Director
M J S WILLIAMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 2024
M J S WILLIAMS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 September 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

M J S Williams 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 Chalkhills East Farm, Fovant, Salisbury, Wiltshire, SP3 5JD, United Kingdom. The principal place of business is The Firs, East farm, Fovant, Salisbury, SP3 5JD.

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 £.

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. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

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:

Land and buildings not depreciated
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.

Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 3 1

3. Tangible assets

Land and buildings Total
£ £
Cost
At 01 October 2023 2,356,500 2,356,500
Additions 2,983 2,983
At 30 September 2024 2,359,483 2,359,483
Accumulated depreciation
At 01 October 2023 36,000 36,000
At 30 September 2024 36,000 36,000
Net book value
At 30 September 2024 2,323,483 2,323,483
At 30 September 2023 2,320,500 2,320,500

Included within the net book value of land and buildings above is 2,323,483 (2023 - 2,320,500) in respect of freehold land and buildings.

4. Debtors

2024 2023
£ £
Amounts owed by Group undertakings 597,684 558,899

5. Creditors: amounts falling due within one year

2024 2023
£ £
Taxation and social security 24,686 70,891

6. Financial commitments

Commitments

The total amount of financial commitments not included in the balance sheet is £547,989 (2023 - £568,915). These commitments are bank loans and overdraft in the associated undertaking East Farm Fovant Partnership that are secured by legal charges over freehold property owned by the company.

7. Loans to related parties

Other related parties

2024 2023
£ £
At start of period 558,900 486,716
Advanced 86,270 106,694
Repaid (76,141) (34,511)
569,029 558,899

Terms of loans to related parties

Loans to related parties represents the company's working capital investment in East Farm Fovant partnership that is interest- free and payable on demand.