REGISTERED NUMBER: 01178029 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

L M WILLIAMS (CHISLEHURST) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Directors:

L M Williams

P J Williams

Secretary:

P J Williams

Registered office:

89-93 High Street

Chislehurst

Kent

BR7 5AG

Registered number:

01178029 (England and Wales)

Accountants:

Cooper Parry Advisory Limited

Broadwalk House, 5th Floor

5 Appold Street

Broadgate

London

EC2A 2AG

Fixed assets

Intangible assets

4

-

-

Tangible assets

5

8,224

10,809

Investments

6

900

900

9,124

11,709

Current assets

Stocks

111,617

119,485

Debtors

7

216,289

104,570

Cash at bank

471,010

482,430

798,916

706,485

Creditors

Amounts falling due within one year

8

585,250

492,106

Net current assets

213,666

214,379

Total assets less current liabilities

222,790

226,088

Capital and reserves

Called up share capital

9

100

100

Retained earnings

10

222,690

225,988

Shareholders' funds

222,790

226,088

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 September 2025 and were signed on its behalf by:

L M Williams - Director

1.	Statutory information

L M Williams (Chislehurst) 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Going concern

At 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. Hence, the directors continue to adopt the going concern basis of accounting in preparing the financial statements. This assessment has been made for a period of twelve months from the date of approving these financial statements.

Key source of estimation, uncertainty and judgement

The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is as accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed of.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 1984, is being amortised evenly over its estimated useful life of twenty years.

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.

Tangible fixed assets

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

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

15% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the asset capable of operating as intended. The carrying values of tangible fixed assets are reviewed for impairment when events or changes indicate the carrying value may not be recoverable.

Stocks

The company's stock is independently valued by Pol Valuers Limited.

The method of valuation is as follows:

i) Over the counter stock

The list of stock was recorded by the stock takers at retail shop prices and discounted as shown under coded headings to reduce them to notional cost values.

ii) Dispensary stock

This stock is valued at cost.

The stock take is not always taken on the balance sheet date due to the disruption that would be caused to the company's trade. A trading adjustment is made to eliminate any trading between the balance sheet date and the date of the stock take.

Obsolete and damaged stock are either excluded or included at the lower of cost and realisable value.

Financial instruments

Financial assets and liabilities are recognised when the company becomes party to the contractual provisions of the financial instrument. The company holds financial instruments which comprise cash and cash equivalents, trade and other receivables, equity investments, trade and other payables, convertible loan notes and loans and borrowings. The company has chosen to apply the provisions of Section 11 Basic Financial Instruments and Section 12 Other Financial Instruments in full.

Financial assets and liabilities - classified as basic financial instruments

(i) Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held with banks, and other short-term highly liquid investments with original maturities of three months or less.

(ii) Trade and other receivables

Trade and other receivables are initially recognised at the transaction price, including any transaction costs, and subsequently measured at amortised cost including the effective interest method, less any provision for impairment. Amounts that are receivable within one year are measured at the undiscounted amount of the cash expected to be received, net of any impairment.

At the end of each reporting period, the company assesses whether there is objective evidence that a receivable amount may be impaired. A provision for impairment 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. The amount of the provision is the difference between the asset's carrying amount and the present value of the estimated future cash flows, discounted at the effective interest rate. The amount of the provision is recognised immediately in the Income Statement.

(iii) Equity investments

Equity investments comprise ordinary shares, not publicly traded in active markets for which a reliable fair value cannot be measured reliably. Equity investments are initially recognised at fair value, which is the transaction price excluding transaction costs and are subsequently measured at fair value through profit or loss.

(iv) Trade and other payables and loans and borrowings

Trade and other payables and loans and borrowings are initially measured at the transaction price, including any transaction costs, and subsequently measured at amortised cost using the effective interest method. Amounts that are payable within one year are measured at the discounted amount of the cash expected to be paid.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

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 11 (2024 - 12 ) .

4.	Intangible fixed assets

Goodwill

£

Cost

At 1 April 2024

and 31 March 2025

3,237

Amortisation

At 1 April 2024

and 31 March 2025

3,237

Net book value

At 31 March 2025

-

At 31 March 2024

-

5.	Tangible fixed assets

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

Cost

At 1 April 2024

80,067

16,541

96,608

Additions

2,195

1,091

3,286

Disposals

(8,051

)

(9,049

)

(17,100

)

At 31 March 2025

74,211

8,583

82,794

Depreciation

At 1 April 2024

74,743

11,056

85,799

Charge for year

957

333

1,290

Eliminated on disposal

(7,461

)

(5,058

)

(12,519

)

At 31 March 2025

68,239

6,331

74,570

Net book value

At 31 March 2025

5,972

2,252

8,224

At 31 March 2024

5,324

5,485

10,809

6.	Fixed asset investments

Other

investments

£

Cost

At 1 April 2024

and 31 March 2025

900

Net book value

At 31 March 2025

900

At 31 March 2024

900

7.

Debtors: amounts falling due within one year

2025

2024

£

£

Trade debtors

132,363

-

Other debtors

83,926

104,570

216,289

104,570

8.

Creditors: amounts falling due within one year

2025

2024

£

£

Trade creditors

180,983

212,183

Taxation and social security

4,892

-

Other creditors

399,375

279,923

585,250

492,106

9.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

£1

100

100

10.

Reserves

Retained

earnings

£

At 1 April 2024

225,988

Deficit for the year

(3,298

)

At 31 March 2025

222,690

11.	Related party disclosures

At 31 March 2025, included within other creditors is £139,701 (2024: £138,348) owed to a director by the company. The loan is interest free and repayable on demand.

During the year, the company occupied premises rent free owned by a director of the company.