B & K Williams Limited 30/04/2023 iXBRL

B & K Williams Limited 30/04/2023 iXBRL

B & K WILLIAMS LIMITED - Company Information

Print Friendly Version

13 30/04/2023 2023-04-30 false false false false false false false false false false true false false true false false false false false true false No description of principal activities is disclosed 2022-05-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 05472947 2022-05-01 2023-04-30 05472947 2023-04-30 05472947 2022-04-30 05472947 2021-05-01 2022-04-30 05472947 2022-04-30 05472947 2021-04-30 05472947 core:PlantMachinery 2022-05-01 2023-04-30 05472947 core:MotorVehicles 2022-05-01 2023-04-30 05472947 bus:RegisteredOffice 2022-05-01 2023-04-30 05472947 bus:LeadAgentIfApplicable 2022-05-01 2023-04-30 05472947 bus:Director1 2022-05-01 2023-04-30 05472947 bus:Director2 2022-05-01 2023-04-30 05472947 bus:CompanySecretary1 2022-05-01 2023-04-30 05472947 core:LandBuildings core:OwnedOrFreeholdAssets 2022-04-30 05472947 core:PlantMachinery 2022-04-30 05472947 core:MotorVehicles 2022-04-30 05472947 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-30 05472947 core:PlantMachinery 2023-04-30 05472947 core:MotorVehicles 2023-04-30 05472947 core:WithinOneYear 2023-04-30 05472947 core:WithinOneYear 2022-04-30 05472947 core:AfterOneYear 2023-04-30 05472947 core:AfterOneYear 2022-04-30 05472947 core:ShareCapital 2023-04-30 05472947 core:ShareCapital 2022-04-30 05472947 core:RetainedEarningsAccumulatedLosses 2023-04-30 05472947 core:RetainedEarningsAccumulatedLosses 2022-04-30 05472947 core:LandBuildings core:OwnedOrFreeholdAssets 2022-04-30 05472947 core:PlantMachinery 2022-04-30 05472947 core:MotorVehicles 2022-04-30 05472947 bus:Director1 2022-04-30 05472947 bus:Director1 2023-04-30 05472947 bus:Director2 2022-04-30 05472947 bus:Director2 2023-04-30 05472947 bus:Director1 2021-04-30 05472947 bus:Director1 2022-04-30 05472947 bus:Director2 2021-04-30 05472947 bus:Director2 2022-04-30 05472947 bus:Director1 2021-05-01 2022-04-30 05472947 bus:Director2 2021-05-01 2022-04-30 05472947 bus:SmallEntities 2022-05-01 2023-04-30 05472947 bus:AuditExemptWithAccountantsReport 2022-05-01 2023-04-30 05472947 bus:FullAccounts 2022-05-01 2023-04-30 05472947 bus:SmallCompaniesRegimeForAccounts 2022-05-01 2023-04-30 05472947 bus:PrivateLimitedCompanyLtd 2022-05-01 2023-04-30 05472947 1 2022-05-01 2023-04-30
Company registration number: 05472947
B & K Williams Limited
Unaudited filleted financial statements
30 April 2023
B & K Williams Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
B & K Williams Limited
Directors and other information
Directors Mr Bryn Williams
Mr Kevin Wyn Williams
Secretary Kevin Wyn Williams
Company number 05472947
Registered office The Garage
South Road
Caernarfon
Gwynedd
LL55 2HP
Business address The Garage
South Road
Caernarfon
Gwynedd
LL55 2HP
Accountants WJ Matthews & Son
11-15 Bridge Street
Caernarfon
Gwynedd
LL55 1AB
B & K Williams Limited
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of B & K Williams Limited
Year ended 30 April 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of B & K Williams Limited for the year ended 30 April 2023 which comprise the statement of financial position and 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 http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of B & K Williams 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 B & K Williams Limited and state those matters that we have agreed to state to the board of directors of B & K Williams 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 B & K Williams Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that B & K Williams 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 B & K Williams Limited. You consider that B & K Williams 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 B & K Williams 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.
WJ Matthews & Son
Chartered Accountants
11-15 Bridge Street
Caernarfon
Gwynedd
LL55 1AB
31 January 2024
B & K Williams Limited
Statement of financial position
30 April 2023
2023 2022
Note £ £ £ £
Fixed assets
Tangible assets 5 307,427 300,686
_______ _______
307,427 300,686
Current assets
Stocks 205,465 157,801
Debtors 6 83,157 76,152
Cash at bank and in hand 176,185 203,322
_______ _______
464,807 437,275
Creditors: amounts falling due
within one year 7 ( 285,510) ( 292,468)
_______ _______
Net current assets 179,297 144,807
_______ _______
Total assets less current liabilities 486,724 445,493
Creditors: amounts falling due
after more than one year 8 ( 54,999) ( 72,907)
Provisions for liabilities ( 2,976) ( 1,695)
_______ _______
Net assets 428,749 370,891
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 428,649 370,791
_______ _______
Shareholders funds 428,749 370,891
_______ _______
For the year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- 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 Act 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 and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 31 January 2024 , and are signed on behalf of the board by:
Mr Kevin Wyn Williams
Director
Company registration number: 05472947
B & K Williams Limited
Notes to the financial statements
Year ended 30 April 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is The Garage, South Road, Caernarfon, Gwynedd, LL55 2HP.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Plant and machinery - 20 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 13 (2022: 15 ).
5. Tangible assets
Freehold property Plant and machinery Motor vehicles Total
£ £ £ £
Cost
At 1 May 2022 294,737 40,245 9,691 344,673
Additions - 3,475 7,500 10,975
_______ _______ _______ _______
At 30 April 2023 294,737 43,720 17,191 355,648
_______ _______ _______ _______
Depreciation
At 1 May 2022 - 34,400 9,587 43,987
Charge for the year - 2,333 1,901 4,234
_______ _______ _______ _______
At 30 April 2023 - 36,733 11,488 48,221
_______ _______ _______ _______
Carrying amount
At 30 April 2023 294,737 6,987 5,703 307,427
_______ _______ _______ _______
At 30 April 2022 294,737 5,845 104 300,686
_______ _______ _______ _______
6. Debtors
2023 2022
£ £
Trade debtors 71,928 76,152
Other debtors 11,229 -
_______ _______
83,157 76,152
_______ _______
7. Creditors: amounts falling due within one year
2023 2022
£ £
Bank loans and overdrafts 19,500 19,500
Trade creditors 42,443 42,089
Corporation tax 19,720 20,393
Social security and other taxes 64,642 54,191
Other creditors 139,205 156,295
_______ _______
285,510 292,468
_______ _______
8. Creditors: amounts falling due after more than one year
2023 2022
£ £
Bank loans and overdrafts 54,999 72,907
_______ _______
9. Directors advances, credits and guarantees
During the year the directors entered into the following advances and credits with the company:
2023
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr Bryn Williams ( 74,269) 1,311 ( 72,958)
Mr Kevin Wyn Williams ( 77,503) 19,570 ( 57,933)
_______ _______ _______
( 151,772) 20,881 ( 130,891)
_______ _______ _______
2022
Balance brought forward Advances /(credits) to the directors Balance o/standing
£ £ £
Mr Bryn Williams ( 77,630) 3,361 ( 74,269)
Mr Kevin Wyn Williams ( 82,890) 5,387 ( 77,503)
_______ _______ _______
( 160,520) 8,748 ( 151,772)
_______ _______ _______
10. Related party transactions
During the year the company entered into the following transactions with related parties:
Transaction value
2023 2022
£ £
Rent paid to directors 20,000 20,000
_______ _______
During the year the company paid rent of £20,000 to the directors.
11. Controlling party
The company is controlled by its directors Mr B Williams and Mr K Williams who equally hold the company's issued share capital.