Company registration number 05934117 (England and Wales)
GOMER WILLIAMS & CO LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
GOMER WILLIAMS & CO LIMITED
COMPANY INFORMATION
Directors
Mr G G Jones
Miss J Phillips-James
Miss S J Lewis
Mrs L Sherwood
Mrs L E Smith
Mr R J Morgan
Mr D A Isaac
Miss S L Rock
Miss J Mahoney
(Appointed 13 May 2024)
Mr M Ridler
(Appointed 2 December 2024)
Miss J Smith
(Appointed 2 December 2024)
Company number
05934117
Registered office
19 John Street
Llanelli
SA15 1UP
Accountants
WBV Limited
The Third Floor
Langdon House, Langdon Road
SA1 Swansea Waterfront
Swansea
Wales
SA1 8QY
GOMER WILLIAMS & CO LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
GOMER WILLIAMS & CO LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF GOMER WILLIAMS & CO LIMITED FOR THE YEAR ENDED 31 DECEMBER 2024
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Gomer Williams & Co Limited for the year ended 31 December 2024 which comprise, the balance sheet 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 https://www.icaew.com/regulation.
This report is made solely to the board of directors of Gomer Williams & Co Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Gomer Williams & Co Limited and state those matters that we have agreed to state to the board of directors of Gomer Williams & Co Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Gomer Williams & Co Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Gomer Williams & Co 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 Gomer Williams & Co Limited. You consider that Gomer Williams & Co 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 Gomer Williams & Co 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.
WBV Limited
Chartered Accountants
The Third Floor
Langdon House, Langdon Road
SA1 Swansea Waterfront
Swansea
SA1 8QY
Wales
1 August 2025
GOMER WILLIAMS & CO LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2024
31 December 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
36,664
32,614
Current assets
Stocks
4
107,000
100,000
Debtors
5
705,972
526,851
Cash at bank and in hand
1,878
1,457
814,850
628,308
Creditors: amounts falling due within one year
6
(626,590)
(577,718)
Net current assets
188,260
50,590
Total assets less current liabilities
224,924
83,204
Creditors: amounts falling due after more than one year
7
(212,481)
(71,085)
Provisions for liabilities
(5,778)
(5,932)
Net assets
6,665
6,187
Capital and reserves
Called up share capital
1,207
1,207
Share premium account
3,800
3,800
Profit and loss reserves
1,658
1,180
Total equity
6,665
6,187
GOMER WILLIAMS & CO LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
31 December 2024
- 3 -
For the financial year ended 31 December 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 directors acknowledge their 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 directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 1 August 2025 and are signed on its behalf by:
Miss J Phillips-James
Director
Company registration number 05934117 (England and Wales)
GOMER WILLIAMS & CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
- 4 -
1
Accounting policies
Company information
Gomer Williams & Co Limited is a private company limited by shares incorporated in England and Wales. The registered office is 19 John Street, Llanelli, SA15 1UP.
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.
1.2
Going concern
Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
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.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable.
1.4
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:
Improvements to property
25% on reducing balance
Fixtures and fittings
25% on reducing balance
Computer Equipment
25% on reducing balance
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.
1.5
Work in progress
Work in progress is valued at the lower of cost and estimated fee chargeable less costs expected to be incurred to completion. Work in progress is recognised to the extent that no right to consideration exists for work at the balance sheet date. It is valued at the lower of cost and net realisable value.
1.6
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
GOMER WILLIAMS & CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
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.
1.7
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.8
Leases
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
1.9
Bank loans and overdrafts are secured by way of a fixed and floating charge over the assets of the company.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
74
57
3
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2024
9,970
105,257
115,227
Additions
15,278
15,278
At 31 December 2024
9,970
120,535
130,505
Depreciation and impairment
At 1 January 2024
5,540
77,073
82,613
Depreciation charged in the year
1,108
10,120
11,228
At 31 December 2024
6,648
87,193
93,841
Carrying amount
At 31 December 2024
3,322
33,342
36,664
At 31 December 2023
4,430
28,184
32,614
GOMER WILLIAMS & CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
- 6 -
4
Work in progress
2024
2023
£
£
Work in progress
107,000
100,000
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
233,078
263,319
Other debtors
472,894
263,532
705,972
526,851
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
110,595
198,153
Corporation tax
153,473
113,341
Other taxation and social security
152,947
160,277
Other creditors
209,575
105,947
626,590
577,718
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
193,019
29,623
Other creditors
19,462
41,462
212,481
71,085
8
Loans and overdrafts
2024
2023
£
£
Bank loans
264,680
51,091
Bank overdrafts
38,934
176,685
303,614
227,776
Payable within one year
110,595
198,153
Payable after one year
193,019
29,623
GOMER WILLIAMS & CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
8
Loans and overdrafts
(Continued)
- 7 -
9
Directors advances,credits and guarantees.
The following balances were owed from the directors at the year end;
Miss J Phillips-James £77,678.53 (2023 £52,879)
Mr G G Jones £73,908.87 (2023 £53,209)
Mrs Clare Tregoning £33,158.32
Mrs Laura Sherwood £19,408.33
Mrs Lucy Smith £39,838.98
Interest has been charged on the loans at a rate of 2.25%