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REGISTERED NUMBER: 00729679 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

T&C WILLIAMS (BUILDERS) LTD

T&C WILLIAMS (BUILDERS) LTD (REGISTERED NUMBER: 00729679)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


T&C WILLIAMS (BUILDERS) LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTOR: A Phillips





SECRETARY: A Howard-Pearson





REGISTERED OFFICE: 5 Norton Lees Lane
Sheffield
S8 9BA





REGISTERED NUMBER: 00729679 (England and Wales)





ACCOUNTANTS: Marriott Gibbs Rees Wallis Limited
Chartered Certified Accountants
First Floor
Unit 4, Broadfield Court
Sheffield
South Yorkshire
S8 0XF

T&C WILLIAMS (BUILDERS) LTD (REGISTERED NUMBER: 00729679)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 250,926 228,380

CURRENT ASSETS
Stocks 20,000 20,000
Debtors 5 766,015 788,907
Cash at bank and in hand 463,920 353,862
1,249,935 1,162,769
CREDITORS
Amounts falling due within one year 6 1,101,892 870,380
NET CURRENT ASSETS 148,043 292,389
TOTAL ASSETS LESS CURRENT
LIABILITIES

398,969

520,769

CREDITORS
Amounts falling due after more than one
year

7

18,554

116,775
NET ASSETS 380,415 403,994

CAPITAL AND RESERVES
Called up share capital 57,457 57,457
Share premium 8 5,042 5,042
Revaluation reserve 8 213,382 174,881
Capital redemption reserve 8 105,906 105,906
Retained earnings 8 (1,372 ) 60,708
380,415 403,994

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

T&C WILLIAMS (BUILDERS) LTD (REGISTERED NUMBER: 00729679)

BALANCE SHEET - continued
30 JUNE 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 March 2025 and were signed by:





A Phillips - Director


T&C WILLIAMS (BUILDERS) LTD (REGISTERED NUMBER: 00729679)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

T&C Williams (Builders) 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 (£).


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 as modified by the revaluation of certain assets.

Going concern

The financial statements have been prepared on the basis of the going concern assumption.

The company was significantly impacted by the Covid-19 pandemic during the year ending June 2021. However, strategic initiatives aimed at increasing revenue while reducing overheads have been consistently implemented and are expected to continue generating positive results in the current financial year. Through ongoing performance reviews and the pursuit of targeted tender opportunities, the pipeline of secured work and potential tenders remains robust and in alignment with projections.

To mitigate the effects of the pandemic and avoid redundancies, the company accessed two loans under the CBILS scheme. The associated interest costs have had a substantial negative impact on both profitability and cash flow. However, a £250,000 loan is expected to be repaid by July 2025, and the remaining £100,000 loan by November 2025. This will result in an annual improvement of £105,000 in cash flow and the elimination of loan interest expenses.

Headcount reductions have occurred throughout the current and previous year, including the early retirement of a director. An additional redundancy at the head office took place after the balance sheet date. Despite these changes, operations have remained unaffected, and although redundancy-related costs for 2023 and 2024 impacted profitability and cash flow, the company is expected to realize significant savings in the future.

The remaining director anticipates that these savings, along with other cost-cutting measures and revenue-enhancing strategies, will enable the company to return to profitability for the year ending 30 June 2025.

Turnover
Turnover represents amounts invoiced to customers, net of trade discounts and value added tax, except in respect of contracting activities, where turnover represents the value of work carried out during the year including amounts not yet invoiced.

T&C WILLIAMS (BUILDERS) LTD (REGISTERED NUMBER: 00729679)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less residual value of each asset over its estimated useful economic life or, if held under a finance lease, over the lease term, whichever is the shorter.

Asset classDepreciation method and rate
Freehold landNo depreciation is charged on freehold land
Freehold propertyStraight line over fifty years
Plant and machinery10% reducing balance
Fixtures, fittings and
equipment
Straight line over five years on computer equipment and 10%
reducing balance on other items.
Motor vehiclesStraight line over five years

Stocks
Stock and work in progress are valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Contractual activities
Amounts recoverable on contracts, which are included in debtors are stated at the net sales value of the work done after provisions for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in creditors as payments received on account.

Profit on individual contracts is taken only when their outcome can be foreseen with reasonable certainty and it based on the value of work performed less expenditure incurred to the year end, taking account of agreed claims. Full provision is made for all known or expected losses on individual contracts, taking a prudent view of future claims income, immediately such losses are foreseen. Profit for the year includes the benefit of claims settled on contracts completed in prior years.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

T&C WILLIAMS (BUILDERS) LTD (REGISTERED NUMBER: 00729679)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

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 20 (2023 - 22 ) .

4. TANGIBLE FIXED ASSETS
Fixtures,
Freehold fittings
land and Plant and and Motor
buildings machinery equipment vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 July 2023 225,000 7,608 58,313 141,131 432,052
Disposals - - - (42,999 ) (42,999 )
Revaluations 20,000 - - - 20,000
At 30 June 2024 245,000 7,608 58,313 98,132 409,053
DEPRECIATION
At 1 July 2023 17,500 6,734 53,145 126,293 203,672
Charge for year 3,500 87 1,410 12,595 17,592
Eliminated on disposal - - - (42,137 ) (42,137 )
Revaluation adjustments (21,000 ) - - - (21,000 )
At 30 June 2024 - 6,821 54,555 96,751 158,127
NET BOOK VALUE
At 30 June 2024 245,000 787 3,758 1,381 250,926
At 30 June 2023 207,500 874 5,168 14,838 228,380

T&C WILLIAMS (BUILDERS) LTD (REGISTERED NUMBER: 00729679)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

4. TANGIBLE FIXED ASSETS - continued

The freehold land and buildings were valued as at 17 June 2024 by Eddisons, Chartered Surveyors. The value has been determined by reference to market factors including evidence of transaction prices for similar property in the location where the property is situated.

The value of the freehold land and buildings includes land of £50,000 on which no depreciation charge is made.

The comparable amounts for freehold land and buildings at original historical cost were:

20242023
££
Cost55,02355,023
Depreciation23,40522,404
Book value31,61832,619

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 321,646 20,248
Amounts recoverable on long term
contracts

419,956

732,913
Other debtors 24,413 35,746
766,015 788,907

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other loans 98,221 89,587
Trade creditors 660,323 586,759
Social security and other taxes 16,436 24,037
VAT 247,549 76,433
Other creditors 63,585 74,166
Accruals and deferred income 15,778 19,398
1,101,892 870,380

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other loans 18,554 116,775

T&C WILLIAMS (BUILDERS) LTD (REGISTERED NUMBER: 00729679)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024

8. RESERVES
Capital
Retained Share Revaluation redemption
earnings premium reserve reserve Totals
£    £    £    £    £   

At 1 July 2023 60,708 5,042 174,881 105,906 346,537
Deficit for the year (64,579 ) (64,579 )
Transfer from revaluation
reserve

2,499

-

(2,499

)

-

-
Revaluation - - 41,000 - 41,000
At 30 June 2024 (1,372 ) 5,042 213,382 105,906 322,958

9. CONTINGENT LIABILITIES

As part of its normal course of business, the company has given guarantees and entered into counter-indemnities in respect of performance bonds relating to its contracts. At the balance sheet date performance bonds amounted to £Nil (2023 - £Nil).

10. RELATED PARTY DISCLOSURES

During the period shareholders, provided interest free loans to the company amounting to £25,000 (2023 - £25,000).