Caseware UK (AP4) 2021.0.152 2021.0.152 2021-12-312021-12-312021-01-01falseNo description of principal activity22truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 05177299 2021-01-01 2021-12-31 05177299 2020-01-01 2020-12-31 05177299 2021-12-31 05177299 2020-12-31 05177299 c:Director2 2021-01-01 2021-12-31 05177299 d:Buildings d:LongLeaseholdAssets 2021-01-01 2021-12-31 05177299 d:Buildings d:LongLeaseholdAssets 2021-12-31 05177299 d:Buildings d:LongLeaseholdAssets 2020-12-31 05177299 d:FurnitureFittings 2021-01-01 2021-12-31 05177299 d:FurnitureFittings 2021-12-31 05177299 d:FurnitureFittings 2020-12-31 05177299 d:FurnitureFittings d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 05177299 d:OfficeEquipment 2021-01-01 2021-12-31 05177299 d:OfficeEquipment 2021-12-31 05177299 d:OfficeEquipment 2020-12-31 05177299 d:OfficeEquipment d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 05177299 d:OwnedOrFreeholdAssets 2021-01-01 2021-12-31 05177299 d:CurrentFinancialInstruments 2021-12-31 05177299 d:CurrentFinancialInstruments 2020-12-31 05177299 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 05177299 d:CurrentFinancialInstruments d:WithinOneYear 2020-12-31 05177299 d:ShareCapital 2021-12-31 05177299 d:ShareCapital 2020-12-31 05177299 d:RetainedEarningsAccumulatedLosses 2021-12-31 05177299 d:RetainedEarningsAccumulatedLosses 2020-12-31 05177299 c:FRS102 2021-01-01 2021-12-31 05177299 c:AuditExempt-NoAccountantsReport 2021-01-01 2021-12-31 05177299 c:FullAccounts 2021-01-01 2021-12-31 05177299 c:PrivateLimitedCompanyLtd 2021-01-01 2021-12-31 05177299 d:WithinOneYear 2021-12-31 05177299 d:WithinOneYear 2020-12-31 05177299 d:BetweenOneFiveYears 2021-12-31 05177299 d:BetweenOneFiveYears 2020-12-31 05177299 d:MoreThanFiveYears 2021-12-31 05177299 d:MoreThanFiveYears 2020-12-31 05177299 2 2021-01-01 2021-12-31 iso4217:GBP xbrli:pure

Registered number: 05177299









WILLS & TRUSTS INDEPENDENT ESTATE PLANNING LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2021

 
WILLS & TRUSTS INDEPENDENT ESTATE PLANNING LIMITED
REGISTERED NUMBER: 05177299

BALANCE SHEET
AS AT 31 DECEMBER 2021

2021
2020
Note
£
£

Fixed assets
  

Tangible assets
 4 
254,494
191,123

Current assets
  

Debtors: amounts falling due within one year
 5 
671,117
598,696

Cash at bank and in hand
 6 
7,674
19,578

  
678,791
618,274

Creditors: amounts falling due within one year
 7 
(1,660,916)
(1,243,841)

Net current liabilities
  
 
 
(982,125)
 
 
(625,567)

Total assets less current liabilities
  
(727,631)
(434,444)

  

Net liabilities
  
(727,631)
(434,444)


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(727,731)
(434,544)

  
(727,631)
(434,444)


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

Page 1

 
WILLS & TRUSTS INDEPENDENT ESTATE PLANNING LIMITED
REGISTERED NUMBER: 05177299
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2021

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
S C Payne
Director
Date: 19 July 2022

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
WILLS & TRUSTS INDEPENDENT ESTATE PLANNING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

1.


General information

Wills & Trusts Independent Estate Planning Limited is a company limited by shares incorporated in England and Wales within the United Kingdom. The address of the registered office is 91/92 High Street, Thame, Oxfordshire, OX9 3EH. 
The Company's principal activity is that of independent financial advisors.
The financial statements are presented in sterling which is the functional currency of the Company and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

 
2.2

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Rendering of services

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
WILLS & TRUSTS INDEPENDENT ESTATE PLANNING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Long-term leasehold property
-
25% Reducing balance
Fixtures and fittings
-
25% Reducing balance
Office equipment
-
25% Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2020 - 2).

Page 4

 
WILLS & TRUSTS INDEPENDENT ESTATE PLANNING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

4.


Tangible fixed assets





Long-term leasehold property
Fixtures and fittings
Office equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2021
116,353
48,195
114,404
278,952


Additions
65,024
4,980
57,304
127,308



At 31 December 2021

181,377
53,175
171,708
406,260



Depreciation


At 1 January 2021
8,734
12,267
66,828
87,829


Charge for the year on owned assets
36,387
9,233
18,317
63,937



At 31 December 2021

45,121
21,500
85,145
151,766



Net book value



At 31 December 2021
136,256
31,675
86,563
254,494



At 31 December 2020
107,619
35,928
47,576
191,123

Page 5

 
WILLS & TRUSTS INDEPENDENT ESTATE PLANNING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

5.


Debtors

2021
2020
£
£


Trade debtors
49,025
51,347

Amounts owed by group undertakings
284,291
-

Other debtors
52,939
27,083

Prepayments and accrued income
284,862
520,266

671,117
598,696



6.


Cash and cash equivalents

2021
2020
£
£

Cash at bank and in hand
7,674
19,578



7.


Creditors: Amounts falling due within one year

2021
2020
£
£

Trade creditors
47,734
8,323

Amounts owed to group undertakings
1,586,533
1,228,877

Amounts owed to other participating interests
396
3,504

Other creditors
130
37

Accruals and deferred income
26,123
3,100

1,660,916
1,243,841


Page 6

 
WILLS & TRUSTS INDEPENDENT ESTATE PLANNING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021

8.


Commitments under operating leases

At 31 December 2021 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2021
2020
£
£


Not later than 1 year
103,000
55,000

Later than 1 year and not later than 5 years
423,000
257,500

Later than 5 years
573,250
628,000

1,099,250
940,500


9.


Controlling party

The Company's immediate and ultimate parent undertaking is Wills & Trusts Wealth Management Limited. Wills & Trusts Wealth Management Limited is the parent of the smallest group for which consolidated financial statements are drawn up. Their registered office is 91-92 High Street, Thame, Oxon, OX9 3EH.

 
Page 7