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REGISTERED NUMBER: 01754251 (England and Wales)















STRATEGIC REPORT, REPORT OF THE DIRECTOR AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

WILLCOX BROS LIMITED

WILLCOX BROS LIMITED (REGISTERED NUMBER: 01754251)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Strategic Report 2

Report of the Director 3

Report of the Independent Auditors 4

Income Statement 7

Other Comprehensive Income 8

Balance Sheet 9

Statement of Changes in Equity 10

Cash Flow Statement 11

Notes to the Cash Flow Statement 12

Notes to the Financial Statements 13


WILLCOX BROS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: Mrs S A Hawker



REGISTERED OFFICE: AbleCare Homes Head Office
The Garden House
Beckspool Road
Frenchay
Gloucestershire
BS16 1NE



REGISTERED NUMBER: 01754251 (England and Wales)



SENIOR STATUTORY AUDITOR: Nicholas Miles



AUDITORS: Peregrine Accountants and Business Advisers Ltd
(Statutory Auditors)
Old Bank
The Triangle
Paulton
Bristol
BS39 7LE

WILLCOX BROS LIMITED (REGISTERED NUMBER: 01754251)

STRATEGIC REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023

During 2023 the company continued to maintain its performance both in turnover and profitability and the directors congratulate the staff for a good team effort.

REVIEW OF BUSINESS
The company's strong financial position has provided stability for the long term operation of the business. The company is seeking to build on its success in providing a quality service in the care sector recognising that this is a crucial factor in maintaining growth. The company continues to invest in maintaining premises to a high standard.

The 2023 highlights were:

- Turnover has increased by 25% which is reflected in the increased average occupancy rates. The gross profit margin has increased by 5% in comparison to last year reflecting the companies continued good performance and growth year on year.

- Occupancy rates have increased to an average of around 95% up from 90% the prior year.

- CQC reports continue to show the company is meeting all standards required.

PRINCIPAL RISKS AND UNCERTAINTIES
The company, as a whole, is not exposed to any known risks. The CQC reports have all been rated as meeting standards and, due to changing demographics both locally and nationally, there is further demand for the services that the company offers.

FINANCIAL RISK
The level of risk is relatively low as the company maintains cash balances and liquidity risks are minimal.

ON BEHALF OF THE BOARD:





Mrs S A Hawker - Director


7 August 2024

WILLCOX BROS LIMITED (REGISTERED NUMBER: 01754251)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 31 DECEMBER 2023

The director presents her report with the financial statements of the company for the year ended 31 December 2023.

DIVIDENDS
Interim dividends per share were paid during the year as follows:
Ordinary A £1 - £8.09599
Ordinary B £1 - £144.60307
Ordinary C £1 - £129300

The total distribution of dividends for the year ended 31 December 2023 will be £ 503,700 .

DIRECTOR
Mrs S A Hawker held office during the whole of the period from 1 January 2023 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless she is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable her to ensure that the financial statements comply with the Companies Act 2006. She is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and she has taken all the steps that she ought to have taken as a director in order to make herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Peregrine, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mrs S A Hawker - Director


7 August 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
WILLCOX BROS LIMITED

Opinion
We have audited the financial statements of Willcox Bros Limited (the 'company') for the year ended 31 December 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 December 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
WILLCOX BROS LIMITED


Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page three, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Procedures included:

- The review of the internal controls established to mitigate risks related to fraud or noncompliance with laws and regulations and how management monitor these processes.

- The review and testing of manual journals and key estimates and judgements made by management. And
consideration of the risk of management bias or override of controls.

- The review of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risk of acts by the company that were contrary to these laws and regulations could give rise to a material misstatement in the financial statements. And inquiries of management with as to the compliance with the above laws and regulations, corroborating any necessary evidence to relevant information.

- Testing was carried out testing on a random sample bias and any unusual findings were discussed with the directors.

We did not identify any key audit matters relating to irregularities, including fraud.

There are inherent limitations in the audit procedures performed, and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it. Also the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
WILLCOX BROS LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Nicholas Miles (Senior Statutory Auditor)
for and on behalf of Peregrine Peregrine Accountants and Business Advisers Ltd
(Statutory Auditors)
Old Bank
The Triangle
Paulton
Bristol
BS39 7LE

7 August 2024

WILLCOX BROS LIMITED (REGISTERED NUMBER: 01754251)

INCOME STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023

2023 2022
Notes £    £    £    £   

TURNOVER 6,057,532 4,835,367

Cost of sales 3,165,186 2,726,278
GROSS PROFIT 2,892,346 2,109,089

Distribution costs 7,410 8,026
Administrative expenses 1,059,413 1,022,000
1,066,823 1,030,026
OPERATING PROFIT 4 1,825,523 1,079,063

Interest receivable and similar income 11,189 1,166
1,836,712 1,080,229

Interest payable and similar expenses 5 1,994 1,649
PROFIT BEFORE TAXATION 1,834,718 1,078,580

Tax on profit 6 464,330 207,656
PROFIT FOR THE FINANCIAL YEAR 1,370,388 870,924

WILLCOX BROS LIMITED (REGISTERED NUMBER: 01754251)

OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2023

2023 2022
Notes £    £   

PROFIT FOR THE YEAR 1,370,388 870,924


OTHER COMPREHENSIVE INCOME
Revaluation of freehold property
Purchase of own shares
Income tax relating to other comprehensive
income

-

-
OTHER COMPREHENSIVE INCOME FOR THE
YEAR, NET OF INCOME TAX

-

-
TOTAL COMPREHENSIVE INCOME FOR THE
YEAR

1,370,388

870,924

WILLCOX BROS LIMITED (REGISTERED NUMBER: 01754251)

BALANCE SHEET
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 8 2,887 3,088
Tangible assets 9 4,285,047 4,310,874
4,287,934 4,313,962

CURRENT ASSETS
Stocks 10 2,600 2,600
Debtors 11 1,022,290 1,117,148
Cash at bank 1,667,933 401,400
2,692,823 1,521,148
CREDITORS
Amounts falling due within one year 12 602,663 344,262
NET CURRENT ASSETS 2,090,160 1,176,886
TOTAL ASSETS LESS CURRENT LIABILITIES 6,378,094 5,490,848

CREDITORS
Amounts falling due after more than one year 13 (31,444 ) (23,890 )

PROVISIONS FOR LIABILITIES 15 (86,985 ) (73,981 )
NET ASSETS 6,259,665 5,392,977

CAPITAL AND RESERVES
Called up share capital 16 25,002 25,002
Revaluation reserve 17 1,788,760 1,788,760
Capital redemption reserve 17 7,142 7,142
Retained earnings 17 4,438,761 3,572,073
SHAREHOLDERS' FUNDS 6,259,665 5,392,977

The financial statements were approved by the director and authorised for issue on 7 August 2024 and were signed by:





Mrs S A Hawker - Director


WILLCOX BROS LIMITED (REGISTERED NUMBER: 01754251)

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023

Called up Capital
share Retained Revaluation redemption Total
capital earnings reserve reserve equity
£    £    £    £    £   
Balance at 1 January 2022 25,002 3,103,816 1,788,760 7,142 4,924,720

Changes in equity
Dividends - (402,667 ) - - (402,667 )
Total comprehensive income - 870,924 - - 870,924
Balance at 31 December 2022 25,002 3,572,073 1,788,760 7,142 5,392,977

Changes in equity
Dividends - (503,700 ) - - (503,700 )
Total comprehensive income - 1,370,388 - - 1,370,388
Balance at 31 December 2023 25,002 4,438,761 1,788,760 7,142 6,259,665

WILLCOX BROS LIMITED (REGISTERED NUMBER: 01754251)

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023

2023 2022
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 2,077,650 316,102
Interest paid (1,994 ) (1,649 )
Tax paid (204,831 ) (212,696 )
Net cash from operating activities 1,870,825 101,757

Cash flows from investing activities
Purchase of intangible fixed assets - (3,303 )
Purchase of tangible fixed assets (135,473 ) (101,660 )
Sale of tangible fixed assets 12,455 3,642
Interest received 11,189 1,166
Net cash from investing activities (111,829 ) (100,155 )

Cash flows from financing activities
Capital repayments in year 9,887 8,377
Amount introduced by directors 1,350 -
Amount withdrawn by directors - (7,815 )
Equity dividends paid (503,700 ) (402,667 )
Net cash from financing activities (492,463 ) (402,105 )

Increase/(decrease) in cash and cash equivalents 1,266,533 (400,503 )
Cash and cash equivalents at beginning of
year

2

401,400

801,903

Cash and cash equivalents at end of year 2 1,667,933 401,400

WILLCOX BROS LIMITED (REGISTERED NUMBER: 01754251)

NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2023

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
2023 2022
£    £   
Profit before taxation 1,834,718 1,078,580
Depreciation charges 149,000 152,088
Loss on disposal of fixed assets 46 -
Finance costs 1,994 1,649
Finance income (11,189 ) (1,166 )
1,974,569 1,231,151
Decrease/(increase) in trade and other debtors 94,858 (935,873 )
Increase in trade and other creditors 8,223 20,824
Cash generated from operations 2,077,650 316,102

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2023
31.12.23 1.1.23
£    £   
Cash and cash equivalents 1,667,933 401,400
Year ended 31 December 2022
31.12.22 1.1.22
£    £   
Cash and cash equivalents 401,400 801,903


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.23 Cash flow At 31.12.23
£    £    £   
Net cash
Cash at bank 401,400 1,266,533 1,667,933
401,400 1,266,533 1,667,933
Debt
Finance leases (34,881 ) (9,887 ) (44,768 )
(34,881 ) (9,887 ) (44,768 )
Total 366,519 1,256,646 1,623,165

WILLCOX BROS LIMITED (REGISTERED NUMBER: 01754251)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Willcox Bros 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents invoiced fees for services provided. VAT is not applicable as the services are exempt from VAT.

Goodwill
Goodwill is being amortised evenly over its estimated useful life of ten years.

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.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor Vehicles - 25% on reducing balance

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

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.

WILLCOX BROS LIMITED (REGISTERED NUMBER: 01754251)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

2. ACCOUNTING POLICIES - continued

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.

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

3. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 3,060,493 2,615,044

The average number of employees during the year was as follows:
2023 2022

Care Staff 106 128
Admin Staff 8 6
114 134

2023 2022
£    £   
Director's remuneration 10,000 10,000

4. OPERATING PROFIT

The operating profit is stated after charging:

2023 2022
£    £   
Hire of plant and machinery 7,209 7,811
Depreciation - owned assets 146,928 149,591
Depreciation - assets on hire purchase contracts 1,871 2,496
Loss on disposal of fixed assets 46 -
Patents and licences amortisation 201 215
Auditors' remuneration 11,593 7,219
Auditors' remuneration for non audit work 17,885 15,955

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
HP interest 1,994 1,649

WILLCOX BROS LIMITED (REGISTERED NUMBER: 01754251)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax 451,326 204,831

Deferred tax 13,004 2,825
Tax on profit 464,330 207,656

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2023 2022
£    £   
Profit before tax 1,834,718 1,078,580
Profit multiplied by the standard rate of corporation tax in the UK of 23.519%
(2022 - 19%)

431,507

204,930

Effects of:
Expenses not deductible for tax purposes 1,261 -
Depreciation in excess of capital allowances 15,760 115
tax
deferred tax charge for year 13,004 2,611
Tax charge on deposit account interest 2,798 -
Total tax charge 464,330 207,656

Tax effects relating to effects of other comprehensive income

There were no tax effects for the year ended 31 December 2023.

2022
Gross Tax Net
£    £    £   
Revaluation of freehold property
Purchase of own shares
- - -

7. DIVIDENDS
2023 2022
£    £   
Ordinary A shares of £1 each
Interim 192,200 156,500
Ordinary B shares of £1 each
Interim 182,200 156,500
Ordinary C share of £1
Interim 129,300 73,167
Ordinary D share of £1
Interim - 16,500
503,700 402,667

WILLCOX BROS LIMITED (REGISTERED NUMBER: 01754251)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

8. INTANGIBLE FIXED ASSETS
Patents
and
Goodwill licences Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 906,993 3,303 910,296
AMORTISATION
At 1 January 2023 906,993 215 907,208
Amortisation for year - 201 201
At 31 December 2023 906,993 416 907,409
NET BOOK VALUE
At 31 December 2023 - 2,887 2,887
At 31 December 2022 - 3,088 3,088

9. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings Vehicles Totals
£    £    £    £    £   
COST OR VALUATION
At 1 January 2023 4,551,939 10,582 1,651,214 205,952 6,419,687
Additions - - 52,278 83,195 135,473
Disposals - - - (27,380 ) (27,380 )
At 31 December 2023 4,551,939 10,582 1,703,492 261,767 6,527,780
DEPRECIATION
At 1 January 2023 772,635 2,645 1,239,418 94,115 2,108,813
Charge for year 47,806 1,985 64,810 34,198 148,799
Eliminated on disposal - - - (14,879 ) (14,879 )
At 31 December 2023 820,441 4,630 1,304,228 113,434 2,242,733
NET BOOK VALUE
At 31 December 2023 3,731,498 5,952 399,264 148,333 4,285,047
At 31 December 2022 3,779,304 7,937 411,796 111,837 4,310,874

The Freehold properties were revalued as at 1st January 2014 and the carrying value considered deemed cost on transition to FRS102.

WILLCOX BROS LIMITED (REGISTERED NUMBER: 01754251)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

9. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
Vehicles
£   
COST OR VALUATION
At 1 January 2023
and 31 December 2023 21,840
DEPRECIATION
At 1 January 2023 14,353
Charge for year 1,871
At 31 December 2023 16,224
NET BOOK VALUE
At 31 December 2023 5,616
At 31 December 2022 7,487

10. STOCKS
2023 2022
£    £   
Stocks 2,600 2,600

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 220,157 335,037
Other debtors 800,540 780,518
Prepayments and accrued income 1,593 1,593
1,022,290 1,117,148

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 14) 13,324 10,991
Trade creditors 14,267 40,103
Corporation tax 451,326 204,831
Social security and other taxes 57,807 24,879
Directors' current accounts 1,350 -
Accruals and deferred income 64,589 63,458
602,663 344,262

13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts (see note 14) 31,444 23,890

WILLCOX BROS LIMITED (REGISTERED NUMBER: 01754251)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

14. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2023 2022
£    £   
Net obligations repayable:
Within one year 13,324 10,991
Between one and five years 31,444 23,890
44,768 34,881

15. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 86,985 73,981

Deferred
tax
£   
Balance at 1 January 2023 73,981
Charge to Income Statement during year 13,004
Balance at 31 December 2023 86,985

16. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
23,740 Ordinary A £1 23,740 23,740
1,260 Ordinary B £1 1,260 1,260
1 Ordinary C £1 1 1
1 Ordinary D £1 1 1
25,002 25,002

17. RESERVES
Capital
Retained Revaluation redemption
earnings reserve reserve Totals
£    £    £    £   

At 1 January 2023 3,572,073 1,788,760 7,142 5,367,975
Profit for the year 1,370,388 1,370,388
Dividends (503,700 ) (503,700 )
At 31 December 2023 4,438,761 1,788,760 7,142 6,234,663

18. ULTIMATE CONTROLLING PARTY

The controlling party is The directors.