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COMPANY REGISTRATION NUMBER: 08660270
J L Williams Limited
Unaudited Financial Statements
31 October 2024
J L Williams Limited
Financial Statements
Year ended 31 October 2024
Contents
Page
Director's report
1
Statement of income and retained earnings
2
Statement of financial position
3
Notes to the financial statements
5
The following pages do not form part of the financial statements
Chartered accountants and business advisers report to the director on the preparation of the unaudited statutory financial statements
9
J L Williams Limited
Director's Report
Year ended 31 October 2024
The director presents her report and the unaudited financial statements of the company for the year ended 31 October 2024 .
Director
The director who served the company during the year was as follows:
J L Williams
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 15 April 2025 and signed on behalf of the board by:
J L Williams
Director
Registered office:
The Crown Inn
35 High Street
Caergwrle
Wrexham
Wales
LL12 9LG
J L Williams Limited
Statement of Income and Retained Earnings
Year ended 31 October 2024
2024
2023
Note
£
£
Turnover
227,915
196,934
Cost of sales
131,934
127,272
---------
---------
Gross profit
95,981
69,662
Administrative expenses
56,186
54,374
--------
--------
Operating profit
39,795
15,288
Other interest receivable and similar income
476
52
Interest payable and similar expenses
516
618
--------
--------
Profit before taxation
5
39,755
14,722
Tax on profit
7,765
2,767
--------
--------
Profit for the financial year and total comprehensive income
31,990
11,955
--------
--------
Dividends paid and payable
( 6,000)
( 25,000)
Retained earnings at the start of the year
3,310
16,355
--------
--------
Retained earnings at the end of the year
29,300
3,310
--------
--------
All the activities of the company are from continuing operations.
J L Williams Limited
Statement of Financial Position
31 October 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
6
751
1,001
Current assets
Stocks
2,654
2,858
Debtors
7
1,347
1,337
Cash at bank and in hand
68,866
60,677
--------
--------
72,867
64,872
Creditors: amounts falling due within one year
8
29,905
42,918
--------
--------
Net current assets
42,962
21,954
--------
--------
Total assets less current liabilities
43,713
22,955
Creditors: amounts falling due after more than one year
9
14,412
19,644
--------
--------
Net assets
29,301
3,311
--------
--------
Capital and reserves
Called up share capital
1
1
Profit and loss account
29,300
3,310
--------
-------
Shareholders funds
29,301
3,311
--------
-------
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- 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 her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
J L Williams Limited
Statement of Financial Position (continued)
31 October 2024
These financial statements were approved by the board of directors and authorised for issue on 15 April 2025 , and are signed on behalf of the board by:
J L Williams
Director
Company registration number: 08660270
J L Williams Limited
Notes to the Financial Statements
Year ended 31 October 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Crown Inn, 35 High Street, Caergwrle, Wrexham, LL12 9LG, Wales.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received and represents amounts receivable for goods supplied and services rendered in the public house sector, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and Fittings
-
3 year straightline/5 years straightline/25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
The following assets and liabilities within the accounts are classified as financial instruments - trade debtors, trade creditors and directors loans. Directors loans (being repayable upon demand), trade debtors and trade creditors, are measured at the undiscounted amount of cash or other consideration expected to be paid or received. Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If such evidence is found, an impairment loss is recognised in the statement of Income and Retained Earnings.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 5 (2023: 6 ).
5. Profit before taxation
Profit before taxation is stated after charging:
2024
2023
£
£
Depreciation of tangible assets
250
166
----
----
6. Tangible assets
Fixtures and fittings
Total
£
£
Cost
At 1 November 2023
17,370
17,370
Disposals
( 300)
( 300)
--------
--------
At 31 October 2024
17,070
17,070
--------
--------
Depreciation
At 1 November 2023
16,369
16,369
Charge for the year
250
250
Disposals
( 300)
( 300)
--------
--------
At 31 October 2024
16,319
16,319
--------
--------
Carrying amount
At 31 October 2024
751
751
--------
--------
At 31 October 2023
1,001
1,001
--------
--------
7. Debtors
2024
2023
£
£
Other debtors
1,347
1,337
-------
-------
8. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
2,971
3,505
Social security and other taxes
11,608
6,081
Other creditors - machine gaming duty
961
386
Other creditors
14,365
32,946
--------
--------
29,905
42,918
--------
--------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
14,412
19,644
--------
--------
10. Director's advances, credits and guarantees
The director operates a loan account with the company, the opening balance of which was £31,145 credit with net movement of £18,592 debit, resulting in a closing balance of £12,553 credit.
11. Related party transactions
In the year rent of £10,000 was paid to the director who owns the business premises (£10,000 2023) No further transactions with related parties were undertaken such as are required to be disclosed.
J L Williams Limited
Management Information
Year ended 31 October 2024
The following pages do not form part of the financial statements.
J L Williams Limited
Chartered Accountants and Business Advisers Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of J L Williams Limited
Year ended 31 October 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of J L Williams Limited for the year ended 31 October 2024, which comprise the statement of income and retained earnings, statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the director of J L Williams Limited in accordance with the terms of our engagement letter dated 9 August 2018. Our work has been undertaken solely to prepare for your approval the financial statements of J L Williams Limited and state those matters that we have agreed to state to you in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than J L Williams Limited and its director for our work or for this report.
It is your duty to ensure that J L Williams Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of J L Williams Limited. You consider that J L Williams Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of J L Williams Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
BRUCE ROBERTS & CO LIMITED Chartered Accountants and Business Advisers
Unit 10, Edison Court Ellice Way Wrexham Technology Park Wrexham LL13 7YT
15 April 2025