Company No:
Contents
| Note | 2025 | 2024 | ||
| £ | £ | |||
| Fixed assets | ||||
| Tangible assets | 3 |
|
|
|
| 2,323,483 | 2,323,483 | |||
| Current assets | ||||
| Debtors | 4 |
|
|
|
| Cash at bank and in hand |
|
|
||
| 631,092 | 600,148 | |||
| Creditors: amounts falling due within one year | 5 | (
|
(
|
|
| Net current assets | 625,317 | 575,462 | ||
| Total assets less current liabilities | 2,948,800 | 2,898,945 | ||
| Net assets |
|
|
||
| Capital and reserves | ||||
| Called-up share capital |
|
|
||
| Revaluation reserve |
|
|
||
| Profit and loss account |
|
|
||
| Total shareholders' funds |
|
|
Directors' responsibilities:
The financial statements of M J S Williams Limited (registered number:
|
E M S Williams
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
M J S Williams Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Chalkhills East Farm, Fovant, Salisbury, Wiltshire, SP3 5JD, United Kingdom. The principal place of business is The Firs, East farm, Fovant, Salisbury, SP3 5JD.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
| Land and buildings | not depreciated |
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.
Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.
Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.
Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.
Other basic financial liabilities are measured at amortised cost.
Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.
| 2025 | 2024 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including directors |
|
|
| Land and buildings | Total | ||
| £ | £ | ||
| Cost | |||
| At 01 October 2024 |
|
|
|
| At 30 September 2025 |
|
|
|
| Accumulated depreciation | |||
| At 01 October 2024 |
|
|
|
| At 30 September 2025 |
|
|
|
| Net book value | |||
| At 30 September 2025 | 2,323,483 | 2,323,483 | |
| At 30 September 2024 | 2,323,483 | 2,323,483 |
| 2025 | 2024 | ||
| £ | £ | ||
| Amounts owed by Group undertakings |
|
|
| 2025 | 2024 | ||
| £ | £ | ||
| Taxation and social security |
|
|
Commitments
The total amount of financial commitments not included in the balance sheet is £911,608 (2024 - £547,989). These commitments are bank loans and overdraft in the associated undertaking East Farm Fovant Partnership that are secured by legal charges over freehold property owned by the company.
Other related parties
| 2025 | 2024 | ||
| £ | £ | ||
| At start of period | 597,684 | 558,900 | |
| Advanced | 57,286 | 115,109 | |
| Repaid | (30,233) | (76,325) | |
| 624,737 | 597,684 |
Terms of loans to related parties
Loans to related parties represents the company's working capital investment in East Farm Fovant partnership that is interest- free and payable on demand.