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REGISTERED NUMBER: 09515993 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

WILLPOWER SOUTH WEST LIMITED

WILLPOWER SOUTH WEST LIMITED (REGISTERED NUMBER: 09515993)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WILLPOWER SOUTH WEST LIMITED

COMPANY INFORMATION
for the Year Ended 31 MARCH 2023







DIRECTOR: M P Matthews





REGISTERED OFFICE: Moonsbrook House
Moonsbrook
Oakhill
Radstock
BA3 5BL





REGISTERED NUMBER: 09515993 (England and Wales)





ACCOUNTANTS: Burnside
Chartered Accountants
and Statutory Auditor
61 Queen Square
Bristol
BS1 4JZ

WILLPOWER SOUTH WEST LIMITED (REGISTERED NUMBER: 09515993)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 946,014 954,823

CURRENT ASSETS
Debtors 5 65,693 20,657
Cash at bank 10,475 1,823
76,168 22,480
CREDITORS
Amounts falling due within one year 6 1,443,808 1,234,498
NET CURRENT LIABILITIES (1,367,640 ) (1,212,018 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(421,626

)

(257,195

)

CREDITORS
Amounts falling due after more than one
year

7

272,216

318,613
NET LIABILITIES (693,842 ) (575,808 )

CAPITAL AND RESERVES
Called up share capital 10 1 1
Retained earnings (693,843 ) (575,809 )
SHAREHOLDERS' FUNDS (693,842 ) (575,808 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

WILLPOWER SOUTH WEST LIMITED (REGISTERED NUMBER: 09515993)

BALANCE SHEET - continued
31 MARCH 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 22 December 2023 and were signed by:





M P Matthews - Director


WILLPOWER SOUTH WEST LIMITED (REGISTERED NUMBER: 09515993)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 MARCH 2023

1. STATUTORY INFORMATION

Willpower South West 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.

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.

The presentation currency of the financial statements is the Pound Sterling (£).

Turnover
Turnover represents net invoiced sales of services provided during the year, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 25% on cost
Motor vehicles - 7.5% on cost

Financial instruments
Financial assets and liabilities are recognised in the balance sheet when the company becomes party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and are measured on initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company may not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of any direct issue costs.


WILLPOWER SOUTH WEST LIMITED (REGISTERED NUMBER: 09515993)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MARCH 2023

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Going concern
The director has considered the company's ability to continue as a going concern for at least 12 months from the date of signing of these financial statements and has concluded that he considers the company to be a going concern. This assessment is based on the director's intention to continue to provide any financial support necessary for the foreseeable future. The director therefore continues to adopt the going concern basis of accounting in preparing these financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

WILLPOWER SOUTH WEST LIMITED (REGISTERED NUMBER: 09515993)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MARCH 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST
At 1 April 2022 4,262 1,351,610 1,355,872
Additions - 93,144 93,144
At 31 March 2023 4,262 1,444,754 1,449,016
DEPRECIATION
At 1 April 2022 4,262 396,787 401,049
Charge for year - 101,953 101,953
At 31 March 2023 4,262 498,740 503,002
NET BOOK VALUE
At 31 March 2023 - 946,014 946,014
At 31 March 2022 - 954,823 954,823

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2022
and 31 March 2023 1,025,000
DEPRECIATION
At 1 April 2022 371,563
Charge for year 76,875
At 31 March 2023 448,438
NET BOOK VALUE
At 31 March 2023 576,562
At 31 March 2022 653,437

WILLPOWER SOUTH WEST LIMITED (REGISTERED NUMBER: 09515993)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MARCH 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Director's loan account - 3,657
Prepayments and accrued income 65,693 17,000
65,693 20,657

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other loans 14,958 14,441
Hire purchase contracts 31,438 30,203
Trade creditors 24,076 12,841
VAT 1,505 1,939
Other creditors 1,231,698 1,167,179
Director's loan account 133,233 -
Accruals and deferred income 6,900 7,895
1,443,808 1,234,498

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other loans - 1-2 years 16,151 14,958
Other loans - 2-5 years 56,604 52,422
Other loans in over 5yrs 91,179 111,512
Hire purchase contracts 108,282 139,721
272,216 318,613

Amounts falling due in more than five years:

Repayable by instalments
Other loans in over 5yrs 91,179 111,512
Hire purchase - 6,048
91,179 117,560

WILLPOWER SOUTH WEST LIMITED (REGISTERED NUMBER: 09515993)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MARCH 2023

8. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Hire purchase contracts 139,720 169,924
Other loans 178,892 193,333
318,612 363,257

The hire purchase contracts are secured on the fixed assets to which they relate. The Other loan is secured on other fixed assets currently carried at a net book value of £258,255.

9. PROVISIONS FOR LIABILITIES

At 31 March 2023 the deferred tax recognised in the balance sheet was £nil, which comprises:

20232022
£   £   
Capital allowances in excess of depreciation171,088120,787
Tax losses(171,088)(120,787)
--

At 31 March 2023, there is also an unrecognised deferred tax asset of £184,405 (2022 - £112,413) in respect of tax losses carried forward, which is in addition to the amounts detailed above.

10. CALLED UP SHARE CAPITAL

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

WILLPOWER SOUTH WEST LIMITED (REGISTERED NUMBER: 09515993)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 MARCH 2023

11. RELATED PARTY DISCLOSURES

The company is controlled by Mr M P Matthews, the director, by virtue of his shareholding in the company.

As at 31 March 2023 a total of £133,233 was owed to (2022 - £3,657 owed by) the director by the company. No interest is being charged in relation to this amount.

Funds totalling £9,519 (2022 - £20,700) were advanced to Willpower South West Limited during the year by Electrical & Mechanical Solutions Limited, a related party by virtue of the director's equity interest in that company. At 31 March 2023 an amount of £981,148 (2022 - £971,629) was owed to Electrical & Mechanical Solutions Limited.

During the year, the company provided management consultancy services to Northavon Group Limited, a related party by virtue of the director's equity interest in that company, totalling £50,000 (2022 - £50,000). Also, Northavon Group Limited advanced £55,000 (2022 - was repaid £29,450) during the year, and £250,550 (2022 - £195,550) was owed by this company at the year end.