REGISTERED NUMBER: 10766084 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2026

FOR

WILLIAMS MARINE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mrs N J Williams

SECRETARY:

REGISTERED OFFICE:

3 Murray Street

Llanelli

Carmarthenshire

SA15 1AQ

REGISTERED NUMBER:

10766084 (England and Wales)

ACCOUNTANTS:

Charles & Co

Chartered Certified Accountants

3 Murray Street

Llanelli

Carmarthenshire

SA15 1AQ

FIXED ASSETS

Intangible assets

4

42,687

56,916

Tangible assets

5

62,811

101,759

105,498

158,675

CURRENT ASSETS

Stocks

3,000

29,737

Debtors

6

108,582

77,451

111,582

107,188

CREDITORS

Amounts falling due within one year

7

54,897

51,317

NET CURRENT ASSETS

56,685

55,871

TOTAL ASSETS LESS CURRENT LIABILITIES

162,183

214,546

CREDITORS

Amounts falling due after more than one year

8

136,007

180,402

NET ASSETS

26,176

34,144

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

26,166

34,134

26,176

34,144

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2026 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 October 2026 and were signed by:

Mrs N J Williams - Director

1.	STATUTORY INFORMATION

Williams Marine Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

20% on reducing balance

Motor vehicles

-

20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2025 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Development

costs

£

COST

At 1 June 2025

and 31 May 2026

142,288

AMORTISATION

At 1 June 2025

85,372

Amortisation for year

14,229

At 31 May 2026

99,601

NET BOOK VALUE

At 31 May 2026

42,687

At 31 May 2025

56,916

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 June 2025

161,717

94,808

256,525

Additions

1,000

-

1,000

Disposals

-

(50,808

)

(50,808

)

At 31 May 2026

162,717

44,000

206,717

DEPRECIATION

At 1 June 2025

113,719

41,047

154,766

Charge for year

9,799

7,871

17,670

Eliminated on disposal

-

(28,530

)

(28,530

)

At 31 May 2026

123,518

20,388

143,906

NET BOOK VALUE

At 31 May 2026

39,199

23,612

62,811

At 31 May 2025

47,998

53,761

101,759

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade debtors

89,755

57,332

Other debtors

18,827

20,119

108,582

77,451

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Bank loans and overdrafts (see note 9)

19,041

9,772

Social security and other taxes

-

4,118

Directors' loan accounts

14,802

16,502

Accruals and deferred income

20,000

20,000

Accrued expenses

1,054

925

54,897

51,317

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2026

2025

£

£

Other loans (see note 9)

127,111

154,844

Hire purchase contracts

8,896

25,558

136,007

180,402

9.

LOANS

An analysis of the maturity of loans is given below:

2026

2025

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

19,041

9,772

Amounts falling due between two and five years:

Other loans - 2-5 years

127,111

154,844