G.A.Willetts Limited 00878131 false 2022-06-01 2023-05-31 2023-05-31 The principal activity of the company is Property rentals Digita Accounts Production Advanced 6.30.9574.0 true 00878131 2022-06-01 2023-05-31 00878131 2023-05-31 00878131 bus:OrdinaryShareClass1 2023-05-31 00878131 bus:Revised 2023-05-31 00878131 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 00878131 core:FurnitureFittingsToolsEquipment 2023-05-31 00878131 core:LandBuildings 2023-05-31 00878131 bus:SmallEntities 2022-06-01 2023-05-31 00878131 bus:AuditExemptWithAccountantsReport 2022-06-01 2023-05-31 00878131 bus:AbridgedAccounts 2022-06-01 2023-05-31 00878131 bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 00878131 bus:RegisteredOffice 2022-06-01 2023-05-31 00878131 bus:Director1 2022-06-01 2023-05-31 00878131 bus:Director2 2022-06-01 2023-05-31 00878131 bus:OrdinaryShareClass1 2022-06-01 2023-05-31 00878131 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 00878131 core:PlantMachinery 2022-06-01 2023-05-31 00878131 countries:AllCountries 2022-06-01 2023-05-31 00878131 2022-05-31 00878131 core:FurnitureFittingsToolsEquipment 2022-05-31 00878131 core:LandBuildings 2022-05-31 00878131 2021-06-01 2022-05-31 00878131 2022-05-31 00878131 bus:OrdinaryShareClass1 2022-05-31 00878131 core:CurrentFinancialInstruments core:WithinOneYear 2022-05-31 00878131 core:FurnitureFittingsToolsEquipment 2022-05-31 00878131 core:LandBuildings 2022-05-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 00878131

G.A.Willetts Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 May 2023

 

G.A.Willetts Limited

Contents

Company Information

1

Abridged Balance Sheet

2

Notes to the Unaudited Abridged Financial Statements

3 to 5

 

G.A.Willetts Limited

Company Information

Directors

Mr G Willetts

Mrs M Plaisted

Registered office

Flat 21, Hucclecote Mews
78 Hucclecote Road
Hucclecote
Gloucester
Glos
GL3 3SR

Accountants

Holberton & Co
Nortonbury House
37 High Street
Tewkesbury
Gloucestershire
GL20 5BB

 

G.A.Willetts Limited

(Registration number: 00878131)
Abridged Balance Sheet as at 31 May 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

12,208

12,208

Current assets

 

Cash at bank and in hand

 

23,498

18,202

Creditors: Amounts falling due within one year

(10,568)

(9,166)

Net current assets

 

12,930

9,036

Total assets less current liabilities

 

25,138

21,244

Accruals and deferred income

 

(618)

(618)

Net assets

 

24,520

20,626

Capital and reserves

 

Called up share capital

6

1,000

1,000

Retained earnings

23,520

19,626

Shareholders' funds

 

24,520

20,626

For the financial year ending 31 May 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 18 December 2023 and signed on its behalf by:
 

.........................................
Mr G Willetts
Director

 

G.A.Willetts Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2023

1

General information

The company is a private company limited by share capital, incorporated in Other.

The address of its registered office is:
Flat 21, Hucclecote Mews
78 Hucclecote Road
Hucclecote
Gloucester
Glos
GL3 3SR

The principal place of business is:
Flat 21, Hucclecote Mews
78 Hucclecote Road
Hucclecote
Gloucester
Glos
GL3 3SR

These financial statements were authorised for issue by the Board on 18 December 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

G.A.Willetts Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2023

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery etc

25% Reducing balance

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 1 (2022 - 1).

 

G.A.Willetts Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 May 2023

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 June 2022

12,208

8,895

21,103

At 31 May 2023

12,208

8,895

21,103

Depreciation

At 1 June 2022

-

8,895

8,895

At 31 May 2023

-

8,895

8,895

Carrying amount

At 31 May 2023

12,208

-

12,208

At 31 May 2022

12,208

-

12,208

Included within the net book value of land and buildings above is £12,208 (2022 - £12,208) in respect of freehold land and buildings.
 

5

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

1,000

1,000

1,000

1,000

         

7

Dividends

   

2023

 

2022

   

£

 

£

Interim dividend of £7.9545 (2022 - £7.9545) per ordinary share

 

7,954

 

7,954