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Company registration number: 04189746
William Mellard & Sons Limited
Unaudited filleted financial statements
31 March 2025
William Mellard & Sons Limited
Contents
Statement of financial position
Notes to the financial statements
William Mellard & Sons Limited
Statement of financial position
31st March 2025
2025 2024
Note £ £ £ £
Fixed assets
Intangible assets 5 - -
Tangible assets 6 2,247,550 2,375,423
_______ _______
2,247,550 2,375,423
Current assets
Stocks 669,330 698,247
Debtors 7 1,864,153 2,025,391
Cash at bank and in hand 1,161,433 1,060,677
_______ _______
3,694,916 3,784,315
Creditors: amounts falling due
within one year 8 ( 1,937,024) ( 2,177,818)
_______ _______
Net current assets 1,757,892 1,606,497
_______ _______
Total assets less current liabilities 4,005,442 3,981,920
Creditors: amounts falling due
after more than one year 9 ( 334,431) ( 456,751)
Provisions for liabilities ( 217,625) ( 249,472)
_______ _______
Net assets 3,453,386 3,275,697
_______ _______
Capital and reserves
Called up share capital 1,733,830 425,830
Profit and loss account 1,719,556 2,849,867
_______ _______
Shareholders funds 3,453,386 3,275,697
_______ _______
For the year ending 31 March 2025 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 financial statements for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act 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 and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 03 June 2025 , and are signed on behalf of the board by:
Mr Simon Mellard Mr William Mellard
Director Director
Company registration number: 04189746
William Mellard & Sons Limited
Notes to the financial statements
Year ended 31st March 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is William Mellard & Sons Limited, River Works, Campbell Road, Stoke On Trent, Staffordshire, ST4 4RN.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill - 20 years straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
tangible assets are initially recorded at cost, and are 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 capital and reserves, 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 capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves 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:
Freehold property - Straight line over 50 years
Plant and machinery - 15% on net book value
Fittings fixtures and equipment - 15% on net book value
Motor vehicles - 25% on net book value
Computers - 20%/25% straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
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 stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
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 in finance costs 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 Nil (2024: Nil).
5. Intangible assets
Goodwill Total
£ £
Cost
At 1st April 2024 and 31st March 2025 150,750 150,750
_______ _______
Amortisation
At 1st April 2024 and 31st March 2025 150,750 150,750
_______ _______
Carrying amount
At 31st March 2025 - -
_______ _______
At 31st March 2024 - -
_______ _______
6. Tangible assets
Freehold property Plant and machinery Fixtures, fittings and equipment Motor vehicles Computers Total
£ £ £ £ £ £
Cost
At 1st April 2024 1,634,494 2,483,893 102,304 129,660 231,842 4,582,193
Additions 79,251 29,419 78,436 - 88,837 275,943
Disposals - - - ( 63,427) - ( 63,427)
_______ _______ _______ _______ _______ _______
At 31st March 2025 1,713,745 2,513,312 180,740 66,233 320,679 4,794,709
_______ _______ _______ _______ _______ _______
Depreciation
At 1st April 2024 485,811 1,420,866 72,293 66,756 161,044 2,206,770
Charge for the year 33,879 298,334 11,353 11,022 16,279 370,867
Disposals - - - ( 30,478) - ( 30,478)
_______ _______ _______ _______ _______ _______
At 31st March 2025 519,690 1,719,200 83,646 47,300 177,323 2,547,159
_______ _______ _______ _______ _______ _______
Carrying amount
At 31st March 2025 1,194,055 794,112 97,094 18,933 143,356 2,247,550
_______ _______ _______ _______ _______ _______
At 31st March 2024 1,148,683 1,063,027 30,011 62,904 70,798 2,375,423
_______ _______ _______ _______ _______ _______
7. Debtors
2025 2024
£ £
Trade debtors 1,630,732 1,728,630
Other debtors 233,421 296,761
_______ _______
1,864,153 2,025,391
_______ _______
8. Creditors: amounts falling due within one year
2025 2024
£ £
Trade creditors 1,388,556 1,601,448
Corporation tax 159,815 152,410
Social security and other taxes 200,456 204,403
Other creditors 188,197 219,557
_______ _______
1,937,024 2,177,818
_______ _______
The invoice discounting account is secured on the trade debtors and a fixed and floating charge over the property and assets. The Natwest overdraft and loans are secured by both a freehold legal charge over the land at Campbell Road and its associated assets, and the store and premises off Campbell Road and its associated assets, a debenture and a charge over both the Phoenix Life and Friends Provident Life life policies on S.D.Mellard.
9. Creditors: amounts falling due after more than one year
2025 2024
£ £
Other creditors 334,431 456,751
_______ _______
10. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2025
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr Simon Mellard 173,865 118,073 ( 158,792) 133,146
Mrs Julie Mellard 10,642 31,544 ( 50,973) ( 8,787)
Mr William Mellard - 37,107 ( 36,064) 1,043
_______ _______ _______ _______
184,507 186,724 ( 245,829) 125,402
_______ _______ _______ _______
2024
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr Simon Mellard 165,111 57,754 ( 49,000) 173,865
Mrs Julie Mellard 47,434 - (36,792) 10,642
Mr William Mellard - - - -
_______ _______ _______ _______
212,545 57,754 ( 85,792) 184,507
_______ _______ _______ _______