Registered number
05206086
G J Williams Repair of Old Buildings Ltd
Filleted Accounts
31 October 2024
G J Williams Repair of Old Buildings Ltd
Registered number: 05206086
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 - 625
Tangible assets 4 4,922 10,929
4,922 11,554
Current assets
Stocks 15,000 50,000
Debtors 5 9,998 86,959
24,998 136,959
Creditors: amounts falling due within one year 6 (95,633) (218,103)
Net current liabilities (70,635) (81,144)
Total assets less current liabilities (65,713) (69,590)
Creditors: amounts falling due after more than one year 7 (48,781) (69,425)
Net liabilities (114,494) (139,015)
Capital and reserves
Called up share capital 1 1
Profit and loss account (114,495) (139,016)
Shareholder's funds (114,494) (139,015)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr G Williams
Director
Approved by the board on 2 May 2025
G J Williams Repair of Old Buildings Ltd
Notes to the Accounts
for the year ended 31 October 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Commercial vehicles over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Going concern
The accounts have been prepared on the going concern basis the validaty of which depends on the continued support of the company's director and shareholder.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 7 7
3 Intangible fixed assets £
Goodwill:
Cost
At 1 November 2023 12,500
At 31 October 2024 12,500
Amortisation
At 1 November 2023 11,875
Provided during the year 625
At 31 October 2024 12,500
Net book value
At 31 October 2024 -
At 31 October 2023 625
Goodwill is being written off in equal annual installments over its estimated economic life of 20 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 November 2023 182,417 58,213 240,630
Additions 892 - 892
At 31 October 2024 183,309 58,213 241,522
Depreciation
At 1 November 2023 176,549 53,152 229,701
Charge for the year 1,838 5,061 6,899
At 31 October 2024 178,387 58,213 236,600
Net book value
At 31 October 2024 4,922 - 4,922
At 31 October 2023 5,868 5,061 10,929
5 Debtors 2024 2023
£ £
Trade debtors 3,179 64,828
Deferred tax asset 6,819 22,131
9,998 86,959
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 3,728 41,573
Trade creditors 34,224 102,899
Taxation and social security costs 41,069 29,626
Director's account 5,118 24,279
Other creditors 11,494 19,726
95,633 218,103
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 48,781 69,425
8 Loans 2024 2023
£ £
Creditors include:
Secured bank loans 55,755 55,755
The above bank loans are secured by a fixed and floating charge over the company's assets.
9 Loans from directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr G. Williams
Current account 24,279 4,029 (23,190) 5,118
24,279 4,029 (23,190) 5,118
10 Controlling party
Throughout the period the company was under the control of Mr G. Williams, the director, who owns 100% of the issued share capital.
11 Other information
G J Williams Repair of Old Buildings Ltd is a private company limited by shares and incorporated in England. Its registered office is:
3 Holmer Terrace
Holmer
Hereford
HR4 9RH
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