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Company No: 09624409 (England and Wales)

WILL MANAGEMENT SERVICES LTD

Unaudited Financial Statements
For the financial year ended 31 January 2024
Pages for filing with the registrar

WILL MANAGEMENT SERVICES LTD

Unaudited Financial Statements

For the financial year ended 31 January 2024

Contents

WILL MANAGEMENT SERVICES LTD

COMPANY INFORMATION

For the financial year ended 31 January 2024
WILL MANAGEMENT SERVICES LTD

COMPANY INFORMATION (continued)

For the financial year ended 31 January 2024
DIRECTOR Mr M C Duncan
REGISTERED OFFICE 12 Hammet Street
Taunton
TA1 1RZ
United Kingdom
COMPANY NUMBER 09624409 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Blackbrook Gate 1
Blackbrook Business Park
Taunton
Somerset TA1 2PX
WILL MANAGEMENT SERVICES LTD

BALANCE SHEET

As at 31 January 2024
WILL MANAGEMENT SERVICES LTD

BALANCE SHEET (continued)

As at 31 January 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 4,159 3,251
4,159 3,251
Current assets
Debtors 4 98,662 71,067
Cash at bank and in hand 21,190 19,408
119,852 90,475
Creditors: amounts falling due within one year 5 ( 24,524) ( 17,350)
Net current assets 95,328 73,125
Total assets less current liabilities 99,487 76,376
Net assets 99,487 76,376
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account 99,387 76,276
Total shareholder's funds 99,487 76,376

For the financial year ending 31 January 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Will Management Services Ltd (registered number: 09624409) were approved and authorised for issue by the Director on 18 July 2024. They were signed on its behalf by:

Mr M C Duncan
Director
WILL MANAGEMENT SERVICES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
WILL MANAGEMENT SERVICES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Will Management Services Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 12 Hammet Street, Taunton, TA1 1RZ, United Kingdom.

The financial statements have been prepared under the historical cost convention and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and is recognised when the significant risks and rewards are considered to have been transferred to the customer. Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line/ reducing balance basis over its expected useful life, as follows:

Fixtures and fittings 20 % reducing balance
Office equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Fixtures and fittings Office equipment Total
£ £ £
Cost
At 01 February 2023 13,971 9,358 23,329
Additions 1,830 0 1,830
At 31 January 2024 15,801 9,358 25,159
Accumulated depreciation
At 01 February 2023 11,041 9,037 20,078
Charge for the financial year 647 275 922
At 31 January 2024 11,688 9,312 21,000
Net book value
At 31 January 2024 4,113 46 4,159
At 31 January 2023 2,930 321 3,251

4. Debtors

2024 2023
£ £
Trade debtors 2,595 0
Amounts owed by Group undertakings 96,067 71,067
98,662 71,067

5. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 143 83
Accruals 1,851 1,451
Taxation and social security 22,238 15,816
Other creditors 292 0
24,524 17,350

6. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

7. Financial commitments

Other financial commitments

The total amount of guarantees not included in the Balance Sheet is £685,961 (2023: £881,951). The company has entered into a cross-guarantee with ISWIFA Holdings Limited (its ultimate parent company) to guarantee amounts outstanding to the company's bankers. This guarantee is secured on the company's assets.