Company registration number 09378359 (England and Wales)
WILLIAMS GROUP UK PROPERTIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
PAGES FOR FILING WITH REGISTRAR
WILLIAMS GROUP UK PROPERTIES LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
WILLIAMS GROUP UK PROPERTIES LIMITED
BALANCE SHEET
AS AT 31 MAY 2024
31 May 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
5,492
2,975
Current assets
Debtors
5
1,747,577
1,897,654
Cash at bank and in hand
197
7,879
1,747,774
1,905,533
Creditors: amounts falling due within one year
6
(2,152,680)
(2,223,932)
Net current liabilities
(404,906)
(318,399)
Total assets less current liabilities
(399,414)
(315,424)
Creditors: amounts falling due after more than one year
7
(16,163)
(27,159)
Net liabilities
(415,577)
(342,583)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(415,677)
(342,683)
Total equity
(415,577)
(342,583)

For the financial year ended 31 May 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 director acknowledges his 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 director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 17 April 2025
P L Williams
Director
Company registration number 09378359 (England and Wales)
WILLIAMS GROUP UK PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
- 2 -
1
Accounting policies
Company information

Williams Group UK Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office is 1st Floor Arthur Stanley House, 40-50 Tottenham Street, London, United Kingdom, W1T 4RN.

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 £.

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 financial instruments at fair value. The principal accounting policies adopted are set out below.

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.

Turnover is recognised over the length of the management period.

1.3
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:

Computers
33% straight line
Motor vehicles
33% straight line

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.

1.4
Impairment of fixed assets

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

 

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

WILLIAMS GROUP UK PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
1
Accounting policies
(Continued)
- 3 -
1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.7
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

WILLIAMS GROUP UK PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 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.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.10
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
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

 

There are no significant judgements or estimates.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
6
6
WILLIAMS GROUP UK PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 5 -
4
Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2023
10,654
Additions
6,000
At 31 May 2024
16,654
Depreciation and impairment
At 1 June 2023
7,679
Depreciation charged in the year
3,483
At 31 May 2024
11,162
Carrying amount
At 31 May 2024
5,492
At 31 May 2023
2,975
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
1,728,544
1,674,247
Other debtors
19,033
223,407
1,747,577
1,897,654
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,781
9,758
Trade creditors
30,022
38,665
Amounts owed to group undertakings
128,433
122,708
Corporation tax
-
0
2,665
Other taxation and social security
9,968
141,315
Other creditors
1,973,476
1,908,821
2,152,680
2,223,932
WILLIAMS GROUP UK PROPERTIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
- 6 -
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
16,163
27,159

In the year ended 31st May 2021, the company was advanced a loan totalling £50,000 under the government backed Bounce Back Loan (BBL) scheme. Interest and arrangement fees on this loan is paid by the government for the first 12 months, with an annual interest rate of 2.5%. The directors consider the interest rate on this loan to be at market rate and as such have not recognised the immaterial impact of discounting the loans to present value.

8
Related party transactions

Turnover includes fees amounting to £46,540 (2023: £131,557) from Gregson Estates (Southport) Limited, £68,809 (2023: £54,087) from Honeyview Investments Limited, £937,740 (2023: £Nil) from Braintree Leisure Limited, £116,349 (2023: £374,198) from Begin Braintree Ltd, £186,158 from Harding Homes (East Street) Ltd (2023:£Nil) and £Nil (2023: £187,099) to Harding Estates (East Anglia) Limited.

 

At the balance sheet date, other debtors includes an amount of £1,333,363 (2023: £1,352,203) due from Honeyview Investments Limited, £340,404 (2023: £275,648) due from Gregson Estates (Southport) Limited, £9,251 (2023: £5,597) due from Harding Homes (East Street) Limited, £13,443 (2023: £10,726) due from HIM Properties Limited, £32,083 due from Begin Braintree (AF) Limited (2023: £30,073).

 

At the balance sheet date, other creditors includes an amount of £128,422 (2023: £122,708) due to Williams Management Services Ltd, £172,443 (2023: £219,116) due to Begin Braintree Ltd and £1,745,210 (2023: £1,616,287) due to Harding Estates (East Anglia) Limited.

 

During the year £209,518 has been included in amounts written off intercompany balances, due to companies going in to liquidation.

 

During the year, the company has incurred management charges of £107,955, from Williams Management Services Ltd, a related company.

 

These companies are all controlled by the director, P L Williams.

10
Directors' transactions

During the year, the company paid rent expenses of £Nil (2023: £9,167) to the director. At the year end the company owed £44,199 to the director.

11
Ultimate controlling party

The ultimate controlling party is P L Williams, the director.

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