Company Registration No. 00989480 (England and Wales)
Will-Denn Resources Limited
Unaudited accounts
for the year ended 31 December 2021
Will-Denn Resources Limited
Unaudited accounts
Contents
Will-Denn Resources Limited
Company Information
for the year ended 31 December 2021
Directors
Mr J M Dennis
Ms C J Dennis
Company Number
00989480 (England and Wales)
Registered Office
PARK LODGE
60 LONDON ROAD
HORSHAM
WEST SUSSEX
RH12 1AY
Accountants
M&T Accounting Limited
24 Great Lime Kilns
Southwater
Horsham
West Sussex
RH13 9JL
Will-Denn Resources Limited
Statement of financial position
as at 31 December 2021
Tangible assets
1,640,833
1,658,583
Creditors: amounts falling due within one year
(156,964)
(192,321)
Net current liabilities
(58,530)
(90,703)
Net assets
1,582,303
1,567,880
Called up share capital
10,000
10,000
Revaluation reserve
1,240,131
1,240,131
Profit and loss account
332,172
317,749
Shareholders' funds
1,582,303
1,567,880
For the year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2022 and were signed on its behalf by
Mr J M Dennis
Director
Company Registration No. 00989480
Will-Denn Resources Limited
Notes to the Accounts
for the year ended 31 December 2021
Will-Denn Resources Limited is a private company, limited by shares, registered in England and Wales, registration number 00989480. The registered office is PARK LODGE, 60 LONDON ROAD, HORSHAM, WEST SUSSEX, RH12 1AY.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Will-Denn Resources Limited
Notes to the Accounts
for the year ended 31 December 2021
4
Tangible fixed assets
Land & buildings
At 1 January 2021
1,700,000
At 31 December 2021
1,700,000
Charge for the year
17,750
At 31 December 2021
59,167
At 31 December 2021
1,640,833
At 31 December 2020
1,658,583
Carrying amount of land and buildings on cost basis
517,087
534,837
The freehold property was professionally revalued in August 2018 by Crickmay, a firm of chartered surveyors. This valuation is viewed by the directors to still reflect the fair value of the property.
5
Debtors: amounts falling due within one year
2021
2020
Accrued income and prepayments
8,007
7,921
Other debtors
72,090
93,636
6
Creditors: amounts falling due within one year
2021
2020
Bank loans and overdrafts
9,195
59,233
Trade creditors
6,813
5,186
Taxes and social security
25,712
12,940
Loans from directors
112,872
112,522
Allotted, called up and fully paid:
10,000 Ordinary shares of £1 each
10,000
10,000
Will-Denn Resources Limited
Notes to the Accounts
for the year ended 31 December 2021
8
Transactions with related parties
Included within other debtors is £72,090 (2020: £93,636) due from WDR Limited. The directors have the controlling interest in this company.
Included within creditors is a director's loan of £112,872 (2020: £112,522). This loan is interest free with no fixed repayment terms.
9
Average number of employees
During the year the average number of employees was 2 (2020: 2).