Caseware UK (AP4) 2023.0.135 2023.0.135 2023-09-302023-09-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true2022-10-01falseNo description of principal activity55false 00884861 2022-10-01 2023-09-30 00884861 2021-10-01 2022-09-30 00884861 2023-09-30 00884861 2022-09-30 00884861 c:Director3 2022-10-01 2023-09-30 00884861 c:Director4 2022-10-01 2023-09-30 00884861 d:Buildings 2022-10-01 2023-09-30 00884861 d:Buildings 2023-09-30 00884861 d:Buildings 2022-09-30 00884861 d:Buildings d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 00884861 d:PlantMachinery 2022-10-01 2023-09-30 00884861 d:PlantMachinery 2023-09-30 00884861 d:PlantMachinery 2022-09-30 00884861 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 00884861 d:OwnedOrFreeholdAssets 2022-10-01 2023-09-30 00884861 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2023-09-30 00884861 d:DevelopmentCostsCapitalisedDevelopmentExpenditure 2022-09-30 00884861 d:FreeholdInvestmentProperty 2023-09-30 00884861 d:FreeholdInvestmentProperty 2022-09-30 00884861 d:CurrentFinancialInstruments 2023-09-30 00884861 d:CurrentFinancialInstruments 2022-09-30 00884861 d:CurrentFinancialInstruments d:WithinOneYear 2023-09-30 00884861 d:CurrentFinancialInstruments d:WithinOneYear 2022-09-30 00884861 d:ShareCapital 2023-09-30 00884861 d:ShareCapital 2022-09-30 00884861 d:RevaluationReserve 2023-09-30 00884861 d:RevaluationReserve 2022-09-30 00884861 d:InvestmentPropertiesRevaluationReserve 2023-09-30 00884861 d:InvestmentPropertiesRevaluationReserve 2022-09-30 00884861 d:RetainedEarningsAccumulatedLosses 2023-09-30 00884861 d:RetainedEarningsAccumulatedLosses 2022-09-30 00884861 c:OrdinaryShareClass1 2022-10-01 2023-09-30 00884861 c:OrdinaryShareClass1 2023-09-30 00884861 c:OrdinaryShareClass1 2022-09-30 00884861 c:OrdinaryShareClass2 2022-10-01 2023-09-30 00884861 c:OrdinaryShareClass2 2023-09-30 00884861 c:OrdinaryShareClass2 2022-09-30 00884861 c:OrdinaryShareClass3 2022-10-01 2023-09-30 00884861 c:OrdinaryShareClass3 2023-09-30 00884861 c:OrdinaryShareClass3 2022-09-30 00884861 c:OrdinaryShareClass4 2022-10-01 2023-09-30 00884861 c:OrdinaryShareClass4 2023-09-30 00884861 c:OrdinaryShareClass4 2022-09-30 00884861 c:FRS102 2022-10-01 2023-09-30 00884861 c:AuditExempt-NoAccountantsReport 2022-10-01 2023-09-30 00884861 c:FullAccounts 2022-10-01 2023-09-30 00884861 c:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 00884861 2 2022-10-01 2023-09-30 00884861 5 2022-10-01 2023-09-30 00884861 d:DevelopmentCostsCapitalisedDevelopmentExpenditure d:OwnedIntangibleAssets 2022-10-01 2023-09-30 00884861 e:PoundSterling 2022-10-01 2023-09-30 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 00884861










S G Willis & Sons Limited








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2023

 
S G WILLIS & SONS LIMITED
REGISTERED NUMBER: 00884861

BALANCE SHEET
AS AT 30 SEPTEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Intangible assets
 4 
2,240
2,880

Tangible assets
 5 
324,777
341,052

Investment property
 6 
737,200
737,200

  
1,064,217
1,081,132

Current assets
  

Stocks
  
3,000
3,000

Debtors: amounts falling due within one year
 7 
12,172
12,358

Cash at bank and in hand
 8 
115,955
105,614

  
131,127
120,972

Creditors: amounts falling due within one year
 9 
(47,076)
(53,649)

Net current assets
  
 
 
84,051
 
 
67,323

Total assets less current liabilities
  
1,148,268
1,148,455

Provisions for liabilities
  

Other provisions
  
(247,739)
(244,837)

  
 
 
(247,739)
 
 
(244,837)

Net assets
  
900,529
903,618


Capital and reserves
  

Called up share capital 
 10 
6,000
6,000

Revaluation reserve
  
215,667
218,532

Investment property fair value reserve
  
506,653
508,763

Profit and loss account
  
172,209
170,323

  
900,529
903,618


Page 1

 
S G WILLIS & SONS LIMITED
REGISTERED NUMBER: 00884861
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2023

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 comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

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




................................................
Mr M Willis
................................................
Mrs T Willis
Director
Director


Date: 10 April 2024

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
S G WILLIS & SONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1.


General information

S.G. Willis & Sons Limited is a private company limited by shares incorporated in England and Wales. The registered office is Moorgate House, 201 Silbury Boulevard, Milton Keynes, MK9 1LZ. The trading address is 45 High Street, Stony Stratford, Milton Keynes, MK11 1AA.

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.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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 revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Research and development

In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight-line basis over their useful economic lives, which range from 3 to 6 years.
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only.

 
2.4

Interest income

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

Page 3

 
S G WILLIS & SONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.8

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 4

 
S G WILLIS & SONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.9

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.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using both the straight-line and reducing balance methods.

Depreciation is provided on the following basis:

Freehold property
-
4%
straight-line
Plant and machinery
-
15%
& 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.



 
2.10

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.11

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 5

 
S G WILLIS & SONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)

 
2.12

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a weighted average basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.13

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.

 
2.14

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.

 
2.15

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.

 
2.16

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.17

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Page 6

 
S G WILLIS & SONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

2.Accounting policies (continued)


2.17
Financial instruments (continued)

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2022 - 5).


4.


Intangible assets




Website develop-ment

£



Cost


At 1 October 2022
3,200



At 30 September 2023

3,200



Amortisation


At 1 October 2022
320


Charge for the year on owned assets
640



At 30 September 2023

960



Net book value



At 30 September 2023
2,240



At 30 September 2022
2,880



Page 7

 
S G WILLIS & SONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

5.


Tangible fixed assets





Freehold property
Other fixed assets
Total

£
£
£



Cost or valuation


At 1 October 2022
312,800
71,473
384,273


Additions
-
233
233



At 30 September 2023

312,800
71,706
384,506



Depreciation


At 1 October 2022
-
43,221
43,221


Charge for the year on owned assets
10,009
6,499
16,508



At 30 September 2023

10,009
49,720
59,729



Net book value



At 30 September 2023
302,791
21,986
324,777



At 30 September 2022
312,800
28,252
341,052

The property valuation was made by Neil Moran Associates Ltd on 21 April 2023, on an open market value for existing use basis. 
The property is being used by the company, and treated in accordance with the accounting policy.

Page 8

 
S G WILLIS & SONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

6.


Investment property


Freehold investment property

£



Valuation


At 1 October 2022
737,200



At 30 September 2023
737,200

The property is held for investment purposes, and treated in accordance with the accounting policy. 

The  valuations were made by Neil Moran Associates Ltd on 21 April 2023, on an open market value for existing use basis.

2023
2022
£
£

Investment property fair value reserve


At 1 October 2022
508,763
-

Net surplus/(deficit) in movement properties
(2,110)
508,763

At 30 September 2023
506,653
508,763





7.


Debtors

2023
2022
£
£


Trade debtors
5,274
5,200

Other debtors
2,323
2,326

Prepayments and accrued income
4,575
4,832

12,172
12,358



8.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
115,955
105,614


Page 9

 
S G WILLIS & SONS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

9.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
1,405
3,888

Corporation tax
15,810
12,318

Other taxation and social security
9,138
12,068

Other creditors
16,723
21,975

Accruals and deferred income
4,000
3,400

47,076
53,649



10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



1,600 (2022 - 1,600) Ordinary A shares shares of £1.00 each
1,600
1,600
1,600 (2022 - 1,600) Ordinary B shares shares of £1.00 each
1,600
1,600
1,400 (2022 - 1,400) Ordinary C shares shares of £1.00 each
1,400
1,400
1,400 (2022 - 1,400) Ordinary D shares shares of £1.00 each
1,400
1,400

6,000

6,000


 
Page 10