T.J. Williams Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 03611520 (England and Wales)

T.J. WILLIAMS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH NOVEMBER 2022

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M S Sullivan

Mr D C Curtis

Mrs G Curtis

Mr A B Curtis

Mrs S A Campbell

REGISTERED OFFICE:

Wimborne Road

Barry

Vale of Glamorgan

CF63 3DH

REGISTERED NUMBER:

03611520 (England and Wales)

ACCOUNTANTS:

Carston Chartered Accountants

Tudor House

16 Cathedral Road

Cardiff

CF11 9LJ

FIXED ASSETS

Tangible assets

4

188,197

178,789

CURRENT ASSETS

Stocks

277,987

249,861

Debtors

5

169,472

139,103

Cash at bank and in hand

26,643

30,634

474,102

419,598

CREDITORS

Amounts falling due within one year

6

214,260

164,100

NET CURRENT ASSETS

259,842

255,498

TOTAL ASSETS LESS CURRENT LIABILITIES

448,039

434,287

CREDITORS

Amounts falling due after more than one year

7

26,441

46,451

NET ASSETS

421,598

387,836

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

10

421,498

387,736

SHAREHOLDERS' FUNDS

421,598

387,836

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th November 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th November 2022 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28th March 2023 and were signed on its behalf by:

M S Sullivan - Director

1.	STATUTORY INFORMATION

T.J. Williams 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.

Tangible fixed assets

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

Buildings - 2% straight line

Plant and machinery - 20% reducing balance

Fixtures and fittings - 20% reducing balance

Motor vehicles - 25% reducing balance

Equipment - 33% straight line

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 Statement of Income and Retained Earnings, 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.

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.

Going concern

The Covid-19 pandemic has had a significant negative impact on the UK economy and, whilst the consequences of Covid-19 on the company have been limited during the year and since the year end, the directors recognise that in the longer term its effect may be more significant.

At this point in time any long-term effect on the company is unknown but the directors remain confident of the financial position of the company. The directors believe that the company has sufficient reserves to withstand any further economic downturns created by the pandemic and are confident that it is correct to prepare the accounts on a going concern basis.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2021 - 15 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1st December 2021

243,453

40,380

1,631

Additions

-

1,192

-

At 30th November 2022

243,453

41,572

1,631

DEPRECIATION

At 1st December 2021

67,873

37,754

1,537

Charge for year

3,993

763

19

At 30th November 2022

71,866

38,517

1,556

NET BOOK VALUE

At 30th November 2022

171,587

3,055

75

At 30th November 2021

175,580

2,626

94

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1st December 2021

-

69,174

354,638

Additions

5,250

14,156

20,598

At 30th November 2022

5,250

83,330

375,236

DEPRECIATION

At 1st December 2021

-

68,685

175,849

Charge for year

1,313

5,102

11,190

At 30th November 2022

1,313

73,787

187,039

NET BOOK VALUE

At 30th November 2022

3,937

9,543

188,197

At 30th November 2021

-

489

178,789

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

158,455

123,554

Directors' current accounts

3,517

8,517

Prepayments

7,500

7,032

169,472

139,103

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

10,648

416

Trade creditors

129,790

94,406

Tax

24,376

22,158

PAYE and NIC taxes

6,577

8,994

VAT

13,065

11,375

Other creditors - credit card

3,276

1,517

Other creditors - pension

1,563

1,769

Directors' current accounts

8,965

4,965

Directors' loan accounts

-

2,000

Deferred government grants

16,000

16,500

214,260

164,100

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans - 2-5 years

26,441

46,451

8.	SECURED DEBTS

The following secured debts are included within creditors:

2022

2021

£

£

Bank loans

37,089

46,451

The CBILS loan is guaranteed by the government.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

100

Ordinary

1

100

100

10.

RESERVES

Retained

earnings

£

At 1st December 2021

387,736

Profit for the year

108,082

Dividends

(74,320

)

At 30th November 2022

421,498