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REGISTERED NUMBER: 04454475 (England and Wales)





















WILLS & REYNOLDS LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023






WILLS & REYNOLDS LIMITED (REGISTERED NUMBER: 04454475)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


WILLS & REYNOLDS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: W G Reynolds
N A Osborne
S E Foale
S J Cooper





SECRETARY: W G Reynolds





REGISTERED OFFICE: Frome House
5 North Portway Close
Round Spinney
Northampton
Northamptonshire
NN3 8RQ





REGISTERED NUMBER: 04454475 (England and Wales)





ACCOUNTANTS: Phipps Henson McAllister
Chartered Accountants
22-24 Harborough Road
Kingsthorpe
Northampton
NN2 7AZ

WILLS & REYNOLDS LIMITED (REGISTERED NUMBER: 04454475)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,186 973

CURRENT ASSETS
Stocks 20,000 7,500
Debtors 5 59,209 68,386
Cash at bank 61,841 42,128
141,050 118,014
CREDITORS
Amounts falling due within one year 6 77,600 85,801
NET CURRENT ASSETS 63,450 32,213
TOTAL ASSETS LESS CURRENT LIABILITIES 70,636 33,186

CREDITORS
Amounts falling due after more than one
year

7

26,000

30,980
NET ASSETS 44,636 2,206

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 44,536 2,106
SHAREHOLDERS' FUNDS 44,636 2,206

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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.

WILLS & REYNOLDS LIMITED (REGISTERED NUMBER: 04454475)

BALANCE SHEET - continued
30 JUNE 2023


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 Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 October 2023 and were signed on its behalf by:





W G Reynolds - Director


WILLS & REYNOLDS LIMITED (REGISTERED NUMBER: 04454475)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023


1. STATUTORY INFORMATION

Wills & Reynolds 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.

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.
Plant & equipment - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Government grants
Grants are accounted for under the accruals model as permitted by FRS102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income,

Grants of a revenue nature are recognised in the Statement of Comprehensive Income in the same period as the related expenditure.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 2 ) .

WILLS & REYNOLDS LIMITED (REGISTERED NUMBER: 04454475)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


4. TANGIBLE FIXED ASSETS
Plant & Motor
equipment vehicles Totals
£    £    £   
COST
At 1 July 2022 11,428 12,750 24,178
Additions 7,855 - 7,855
At 30 June 2023 19,283 12,750 32,033
DEPRECIATION
At 1 July 2022 10,625 12,580 23,205
Charge for year 1,600 42 1,642
At 30 June 2023 12,225 12,622 24,847
NET BOOK VALUE
At 30 June 2023 7,058 128 7,186
At 30 June 2022 803 170 973

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 58,345 67,523
Prepayments 864 863
59,209 68,386

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,000 9,000
Trade creditors 36,793 12,966
Corporation tax 27,424 14,175
Social security and other taxes (195 ) 316
VAT 3,453 4,619
Other creditors - 10,160
Directors' current accounts 1,125 34,565
77,600 85,801

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 2-5 years 26,000 30,980

WILLS & REYNOLDS LIMITED (REGISTERED NUMBER: 04454475)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100