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REGISTERED NUMBER: 09579313 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Wills Marquees Limited

Wills Marquees Limited (Registered number: 09579313)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Balance Sheet 1

Notes to the Financial Statements 3


Wills Marquees Limited (Registered number: 09579313)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 304,466 270,556

CURRENT ASSETS
Stocks 83,045 62,000
Debtors 5 202,263 36,204
Cash at bank 215,730 322,477
501,038 420,681
CREDITORS
Amounts falling due within one year 6 366,813 372,269
NET CURRENT ASSETS 134,225 48,412
TOTAL ASSETS LESS CURRENT
LIABILITIES

438,691

318,968

CREDITORS
Amounts falling due after more than one
year

7

(58,659

)

(53,632

)

PROVISIONS FOR LIABILITIES (75,416 ) (67,639 )
NET ASSETS 304,616 197,697

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 304,516 197,597
SHAREHOLDERS' FUNDS 304,616 197,697

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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 Marquees Limited (Registered number: 09579313)

Balance Sheet - continued
31 March 2024


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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 August 2024 and were signed on its behalf by:





Mrs L Brawn - Director


Wills Marquees Limited (Registered number: 09579313)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Wills Marquees Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 09579313

Registered office: Grafton Grange
Limebar Lane
Marton Cum Grafton
York
YO51 9QQ

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.

Accounting period
The current year figures cover the 12 month period to 31 March 2024 and the comparative figures cover the 15 month period to 31 March 2023.

Turnover
Turnover represents:
1. the value of marquees sold and
2. charges for the hire of marquees during the year.

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates and value added tax.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 33% on cost, 20% on cost and 15% on reducing balance
Motor vehicles - 25% on reducing balance

All fixed assets are initially recognised at cost.

Stocks
Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Wills Marquees Limited (Registered number: 09579313)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Bank loans are measured at amortised cost using the effective interest rate.

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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Assets obtained under hire purchase contracts are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost using the effective rate of interest.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Creditors
Short term creditors are measured at the transaction price.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Wills Marquees Limited (Registered number: 09579313)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 17 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 April 2023 310,375 113,734 424,109
Additions 77,498 74,657 152,155
Disposals (18,533 ) (55,240 ) (73,773 )
At 31 March 2024 369,340 133,151 502,491
DEPRECIATION
At 1 April 2023 116,128 37,425 153,553
Charge for year 45,488 29,631 75,119
Eliminated on disposal (7,846 ) (22,801 ) (30,647 )
At 31 March 2024 153,770 44,255 198,025
NET BOOK VALUE
At 31 March 2024 215,570 88,896 304,466
At 31 March 2023 194,247 76,309 270,556

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 182,122 12,298
Other debtors 20,141 23,906
202,263 36,204

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 10,262 10,101
Hire purchase contracts (see note 8) 20,085 17,323
Advanced deposits 202,895 199,422
Trade creditors 13,820 18,313
Taxation and social security 81,060 12,232
Other creditors 38,691 114,878
366,813 372,269

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.24 31.3.23
£    £   
Bank loans 13,956 24,219
Hire purchase contracts (see note 8) 44,703 29,413
58,659 53,632

Wills Marquees Limited (Registered number: 09579313)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
31.3.24 31.3.23
£    £   
Net obligations repayable:
Within one year 20,085 17,323
Between one and five years 44,703 29,413
64,788 46,736

Non-cancellable operating leases
31.3.24 31.3.23
£    £   
Within one year 42,500 5,945
Between one and five years 132,813 -
175,313 5,945

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Hire purchase contracts 64,788 46,736