Registration number:
George Williamson & Co. Limited
for the Year Ended 31 March 2025
George Williamson & Co. Limited
Contents
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Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
George Williamson & Co. Limited
Company Information
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Directors |
Mr Edward Charles Magor Mr Philip Magor ACA Mrs Alexa Catherine Magor Mrs Antonia Grace Henley |
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Company secretary |
Mr Philip Magor ACA |
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Registered office |
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George Williamson & Co. Limited
(Registration number: 01173126)
Balance Sheet as at 31 March 2025
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Note |
2025 |
2024 |
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Fixed assets |
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Investments |
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Other financial assets |
155,301 |
48,105 |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Net assets |
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Capital and reserves |
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Called up share capital |
19,000 |
19,000 |
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Capital redemption reserve |
31,000 |
31,000 |
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Retained earnings |
3,279,065 |
9,222,523 |
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Shareholders' funds |
3,329,065 |
9,272,523 |
For the financial 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:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
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George Williamson & Co. Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
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General information |
The company is a private company limited by share capital, incorporated in England & Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006' (as applicable to companies subject to the small companies' regime)
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Revenue recognition
Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other taxes. The following criteria must also be met before revenue is recognised:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Foreign currency transactions and balances
Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.
George Williamson & Co. Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:
- The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Investments
Investments in equity shares are measured at the lower of cost and net realisable value. Investments in equity shares that are publicly traded are also reported on the same basis, which departs from FRS102 Section 11.14 (d), in order to record investments on a consistent basis.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
George Williamson & Co. Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
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Investments |
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2025 |
2024 |
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Investments in subsidiaries |
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Other investments |
- |
45,000 |
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Subsidiaries |
£ |
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Cost or valuation |
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At 1 April 2024 |
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Additions |
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At 31 March 2025 |
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Provision |
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Carrying amount |
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At 31 March 2025 |
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At 31 March 2024 |
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George Williamson & Co. Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
During the year, an outstanding loan of £558,225 owed by Williamson Tea Kenya Plc was capitalised as part of the investment cost of Ngong Tea Holdings Ltd.
Additionally, the other investments figure of £45,000 was written off in the year, as the Directors have determined the value of the investment is £Nil and is not recoverable. There were no proceeds for the disposal of the investment.
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Other financial assets (current and non-current) |
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Financial assets at cost less impairment |
Total |
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Non-current financial assets |
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Cost or valuation |
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At 1 April 2024 |
60,706 |
60,706 |
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Additions |
145,000 |
145,000 |
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At 31 March 2025 |
205,706 |
205,706 |
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Impairment |
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At 1 April 2024 |
12,601 |
12,601 |
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Losses made in the period |
37,804 |
37,804 |
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At 31 March 2025 |
50,405 |
50,405 |
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Carrying amount |
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At 31 March 2025 |
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155,301 |
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Debtors |
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Note |
2025 |
2024 |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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Prepayments and accrued income |
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Other debtors |
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George Williamson & Co. Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
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Creditors |
Creditors: amounts falling due within one year
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Note |
2025 |
2024 |
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Due within one year |
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Trade creditors |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
- |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Deferred taxation |
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2025
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2024
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At beginning of year |
36,984 |
79,886 |
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Charged to profit of loss |
(36,984) |
(42,903) |
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At end of year |
- |
36,983 |
The deferred tax asset is made up as follows:
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2025
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2024
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Accelerated capital allowances |
- |
36,984 |
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Share capital |
Allotted, called up and fully paid shares
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2025 |
2024 |
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No. |
£ |
No. |
£ |
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Class 1 ordinary shares of £1 each |
19,000 |
19,000 |
19,000 |
19,000 |
George Williamson & Co. Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025
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Dividends |
Interim dividends paid
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2025 |
2024 |
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Interim dividend of £ |
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Related party transactions |
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Transactions with directors |
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2025 |
At 1 April 2024 |
Advances to director |
At 31 March 2025 |
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Directors Loan account |
( |
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Other transactions with directors |
The amount of £640,665 (2023: -£6,402) was owed by a Director to the Company at the year end. This loan is interest free and repayable on demand. The Director repaid the balance on the loan account on 30 April 2025, after the year-end.
Summary of transactions with other related parties
Loans due to group companies of £nil (2024: £18,412) were interest free and repayable on demand.
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Parent and ultimate parent undertaking |
The company's immediate parent is
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Non adjusting events after the financial period |
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