Company registration number 00833066 (England and Wales)
J.H. WILLIAMS (CHEMISTS) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
PAGES FOR FILING WITH REGISTRAR
J.H. WILLIAMS (CHEMISTS) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
J.H. WILLIAMS (CHEMISTS) LIMITED
BALANCE SHEET
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
85,303
Tangible assets
4
43,059
51,689
Investments
5
17,029
17,029
60,088
154,021
Current assets
Stocks
381,640
357,469
Debtors
6
738,594
743,672
Cash at bank and in hand
693,130
949,889
1,813,364
2,051,030
Creditors: amounts falling due within one year
7
(807,792)
(749,039)
Net current assets
1,005,572
1,301,991
Total assets less current liabilities
1,065,660
1,456,012
Creditors: amounts falling due after more than one year
8
(16,978)
(16,978)
Provisions for liabilities
(8,282)
(8,282)
Net assets
1,040,400
1,430,752
Capital and reserves
Called up share capital
16,451
16,451
Share premium account
866,052
866,052
Profit and loss reserves
157,897
548,249
Total equity
1,040,400
1,430,752
The notes on pages 3 to 6 form part of these financial statements.
J.H. WILLIAMS (CHEMISTS) LIMITED
BALANCE SHEET (CONTINUED)
- 2 -
For the financial year ended 30 June 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 of its financial statements for the year in question in accordance with section 476.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 27 March 2025 and are signed on its behalf by:
M I Phillips
Director
Company registration number 00833066 (England and Wales)
J.H. WILLIAMS (CHEMISTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
- 3 -
1
Accounting policies
Company information
J.H. Williams (Chemists) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 5th Floor, Walker House, Exchange Flags, Liverpool, Merseyside, United Kingdom, L2 3YL.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
1.3
Intangible fixed assets - goodwill
Goodwill is the amount paid in connection with the acquisition of a business in 2015. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is 10 years.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Leasehold land and buildings
20% reducing balance
Fixtures and fittings
15% reducing balance
Computers
25% straight line
Motor vehicles
25% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Fixed asset investments
Investment in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
1.6
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
J.H. WILLIAMS (CHEMISTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
1
Accounting policies
(Continued)
- 4 -
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.9
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
33
34
J.H. WILLIAMS (CHEMISTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 5 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 July 2023 and 30 June 2024
853,022
Amortisation and impairment
At 1 July 2023
767,719
Amortisation charged for the year
85,303
At 30 June 2024
853,022
Carrying amount
At 30 June 2024
At 30 June 2023
85,303
4
Tangible fixed assets
Leasehold land and buildings
Fixtures and fittings
Computers
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 July 2023 and 30 June 2024
10,521
233,104
34,093
48,840
326,558
Depreciation and impairment
At 1 July 2023
10,475
215,823
32,160
16,411
274,869
Depreciation charged in the year
9
2,881
319
5,421
8,630
At 30 June 2024
10,484
218,704
32,479
21,832
283,499
Carrying amount
At 30 June 2024
37
14,400
1,614
27,008
43,059
At 30 June 2023
46
17,281
1,933
32,429
51,689
5
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
17,029
17,029
J.H. WILLIAMS (CHEMISTS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2024
- 6 -
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
420,481
418,266
Amounts owed by group undertakings
257,101
259,721
Other debtors
43,667
51,856
Prepayments and accrued income
17,345
13,829
738,594
743,672
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
486,573
577,131
Corporation tax
108,400
100,000
Other taxation and social security
166,314
24,730
Other creditors
28,792
32,178
Accruals and deferred income
17,713
15,000
807,792
749,039
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
16,978
16,978