Williams Ironmongery Limited 03088809 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is that of the provision of architectural ironmongery supplies. Digita Accounts Production Advanced 6.30.9574.0 true true 03088809 2023-09-01 2024-08-31 03088809 2024-08-31 03088809 core:RetainedEarningsAccumulatedLosses 2024-08-31 03088809 core:ShareCapital 2024-08-31 03088809 core:CurrentFinancialInstruments 2024-08-31 03088809 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 03088809 core:FurnitureFittingsToolsEquipment 2024-08-31 03088809 core:MotorVehicles 2024-08-31 03088809 bus:SmallEntities 2023-09-01 2024-08-31 03088809 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 03088809 bus:FilletedAccounts 2023-09-01 2024-08-31 03088809 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 03088809 bus:RegisteredOffice 2023-09-01 2024-08-31 03088809 bus:CompanySecretaryDirector1 2023-09-01 2024-08-31 03088809 bus:Director1 2023-09-01 2024-08-31 03088809 bus:Director4 2023-09-01 2024-08-31 03088809 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 03088809 core:FurnitureFittings 2023-09-01 2024-08-31 03088809 core:FurnitureFittingsToolsEquipment 2023-09-01 2024-08-31 03088809 core:MotorVehicles 2023-09-01 2024-08-31 03088809 1 2023-09-01 2024-08-31 03088809 countries:AllCountries 2023-09-01 2024-08-31 03088809 2023-08-31 03088809 core:FurnitureFittingsToolsEquipment 2023-08-31 03088809 core:MotorVehicles 2023-08-31 03088809 2022-09-01 2023-08-31 03088809 2023-08-31 03088809 core:RetainedEarningsAccumulatedLosses 2023-08-31 03088809 core:ShareCapital 2023-08-31 03088809 core:CurrentFinancialInstruments 2023-08-31 03088809 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 03088809 core:FurnitureFittingsToolsEquipment 2023-08-31 03088809 core:MotorVehicles 2023-08-31 iso4217:GBP xbrli:pure

Registration number: 03088809

Williams Ironmongery Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Williams Ironmongery Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Williams Ironmongery Limited

Company Information

Directors

Mr G Williams

Mr A Elderfield

Mrs E Peberdy

Company secretary

Mrs E Peberdy

Registered office

Unit 89
Hartlebury Trading Estate
Hartlebury
Worcestershire
DY10 4JB

Accountants

Ballards LLP
Chartered Accountants
Oakmoore Court
11C Kingswood Road
Hampton Lovett
Droitwich
Worcestershire
WR9 0QH

 

Williams Ironmongery Limited

(Registration number: 03088809)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

18,012

18,561

Current assets

 

Stocks

5

49,504

65,476

Debtors

6

139,628

199,700

Cash at bank and in hand

 

219,052

370,797

 

408,184

635,973

Creditors: Amounts falling due within one year

7

(373,624)

(389,985)

Net current assets

 

34,560

245,988

Total assets less current liabilities

 

52,572

264,549

Provisions for liabilities

(3,422)

(3,527)

Net assets

 

49,150

261,022

Capital and reserves

 

Called up share capital

4

4

Retained earnings

49,146

261,018

Shareholders' funds

 

49,150

261,022

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge 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 prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 6 February 2025 and signed on its behalf by:
 

.........................................
Mr G Williams
Director

   
     
 

Williams Ironmongery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in UK.

The address of its registered office is:
Unit 89
Hartlebury Trading Estate
Hartlebury
Worcestershire
DY10 4JB
England

2

Accounting policies

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.

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.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

 

Williams Ironmongery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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

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

Fixtures & fittings

15% Reducing balance

Motor vehicles

25% Reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Williams Ironmongery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 6 (2023 - 6).

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2023

72,130

13,172

85,302

Additions

2,906

-

2,906

At 31 August 2024

75,036

13,172

88,208

Depreciation

At 1 September 2023

55,914

10,827

66,741

Charge for the year

2,869

586

3,455

At 31 August 2024

58,783

11,413

70,196

Carrying amount

At 31 August 2024

16,253

1,759

18,012

At 31 August 2023

16,216

2,345

18,561

5

Stocks

2024
£

2023
£

Raw materials and consumables

49,504

65,476

6

Debtors

Current

2024
£

2023
£

Trade debtors

123,916

190,620

Prepayments

4,400

2,549

Other debtors

11,312

6,531

 

139,628

199,700

 

Williams Ironmongery Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

175,360

143,727

Amounts owed to group undertakings and undertakings in which the company has a participating interest

150,000

-

Taxation and social security

 

16,841

120,717

Accruals and deferred income

 

18,942

112,215

Other creditors

 

12,481

13,326

 

373,624

389,985

8

Parent and ultimate parent undertaking

The company's immediate parent is Williams Ironmongery Holdings Limited, incorporated in England and Wales.