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Registered number: 03611520
T.J. Williams Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 30 November 2024
James Khan
Unaudited Financial Statements
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: 03611520
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 289,988 177,926
289,988 177,926
CURRENT ASSETS
Stocks 278,493 252,107
Debtors 177,162 128,323
Cash at bank and in hand 19,141 43,902
474,796 424,332
Creditors: Amounts Falling Due Within One Year (222,517 ) (182,294 )
NET CURRENT ASSETS (LIABILITIES) 252,279 242,038
TOTAL ASSETS LESS CURRENT LIABILITIES 542,267 419,964
Creditors: Amounts Falling Due After More Than One Year (86,253 ) (15,500 )
NET ASSETS 456,014 404,464
CAPITAL AND RESERVES
Called up share capital 5 100 100
Profit and Loss Account 455,914 404,364
SHAREHOLDERS' FUNDS 456,014 404,464
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For the year ending 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 30 November 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Michael Sullivan
Director
10/03/2025
The notes on pages 3 to 4 form part of these financial statements.
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Notes to the Abridged Financial Statements
1. General Information
T.J. Williams Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03611520 . The registered office is Wimborne Road, Barry, Vale Of Glamorgan, CF63 3DH.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Straight Line - 50 years
Plant & Machinery 20% Reducing Balance
Motor Vehicles 25% Reducing Balance
Fixtures & Fittings 20% Reducing Balance
Computer Equipment Straight Line - 3 years
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.6. Taxation
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
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2.7. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 16 (2023: 16)
16 16
4. Tangible Assets
Total
£
Cost
As at 1 December 2023 374,356
Additions 131,970
As at 30 November 2024 506,326
Depreciation
As at 1 December 2023 196,430
Provided during the period 19,908
As at 30 November 2024 216,338
Net Book Value
As at 30 November 2024 289,988
As at 1 December 2023 177,926
5. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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