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REGISTERED NUMBER: 08563632 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2023

for

S Willis & Sons Ltd

S Willis & Sons Ltd (Registered number: 08563632)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


S Willis & Sons Ltd

Company Information
for the Year Ended 31 December 2023







DIRECTORS: D Willis
N Willis





REGISTERED OFFICE: Sowber Hill
Newby Wiske
NORTHALLERTON
North Yorkshire
DL7 9ER





REGISTERED NUMBER: 08563632 (England and Wales)





ACCOUNTANTS: King Hope
Chartered Accountants
34 Romanby Road
NORTHALLERTON
North Yorkshire
DL7 8NF

S Willis & Sons Ltd (Registered number: 08563632)

Abridged Balance Sheet
31 December 2023

2023 2022
£    £   
CURRENT ASSETS
Stocks 11,652 6,162
Debtors 239,498 606,938
Cash at bank 753,988 341,705
1,005,138 954,805
CREDITORS
Amounts falling due within one year (104,486 ) (81,709 )
NET CURRENT ASSETS 900,652 873,096
TOTAL ASSETS LESS CURRENT
LIABILITIES

900,652

873,096

CAPITAL AND RESERVES
Called up share capital 200 200
Capital redemption reserve 100 100
Retained earnings 900,352 872,796
SHAREHOLDERS' FUNDS 900,652 873,096

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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.

S Willis & Sons Ltd (Registered number: 08563632)

Abridged Balance Sheet - continued
31 December 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 5 August 2024 and were signed on its behalf by:




D Willis - Director



N Willis - Director


S Willis & Sons Ltd (Registered number: 08563632)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

S Willis & Sons Ltd 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.

Turnover
Turnover represents the sale of produce and contracting income, net of value added tax where applicable.

In terms of goods, value is recognised when the contract becomes unconditional and title is passed to the customer. Revenue from services is recognised when the work has been undertaken.

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.

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.

S Willis & Sons Ltd (Registered number: 08563632)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Going concern
These financial statements have been prepared on a going concern basis.

The current economic conditions present increased risks for all businesses. In response to such conditions, the Directors have carefully considered these risks, including the extent to which they might affect the preparation of the financial statements on a going concern basis.

Based on this assessment, the Directors consider that the company maintains an appropriate level of liquidity, sufficient to meet the demands of the business. In addition, the company assets are assessed for recoverability on a regular basis, and the Directors consider that the company is not exposed to losses on these assets which would affect their decision to adopt the going concern basis.

The Directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future and that there are no material uncertainties that lead to significant doubt upon the company's ability to continue as a going concern.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - NIL ) .

4. OTHER FINANCIAL COMMITMENTS

The company contributes to the personal pension policy of certain employees and operated a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in independently administered funds. At the balance sheet date unpaid contributions of £309 (2022 - NIL) were due to the funds. These are included in other creditors.

5. RELATED PARTY DISCLOSURES

At the start of the year, the company was owed £333,792 from the partnership of S Willis & Sons, of which the directors/shareholders were partners in the year. The loan was repaid in full during the year. A new loan of £50,000 was advanced during the year and remains outstanding at 31 December 2023. The loans are subject to an annual interest charge at a rate of 2.0% - 2.25%, with total interest in the year charged of £5,974 (2022 - £6,429).