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Registration number: 07036005

Wills@Home Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 January 2024

 

Wills@Home Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Wills@Home Ltd

(Registration number: 07036005)
Balance Sheet as at 30 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

587

138

Current assets

 

Stocks

6

21,800

22,500

Debtors

7

151,827

142,408

Cash at bank and in hand

 

2

15

 

173,629

164,923

Creditors: Amounts falling due within one year

8

(76,311)

(103,036)

Net current assets

 

97,318

61,887

Total assets less current liabilities

 

97,905

62,025

Creditors: Amounts falling due after more than one year

8

(54,670)

(28,148)

Provisions for liabilities

(111)

(26)

Net assets

 

43,124

33,851

Capital and reserves

 

Called up share capital

400

400

Retained earnings

42,724

33,451

Shareholders' funds

 

43,124

33,851

For the financial year ending 30 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 members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 29 October 2024
 

 

Wills@Home Ltd

(Registration number: 07036005)
Balance Sheet as at 30 January 2024

Mrs M Beckwith
Director

   
     
 

Wills@Home Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 January 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Parkhill Business Centre
Walton Road
Wetherby
West Yorkshire
LS22 5DZ
England

These financial statements were authorised for issue by the director on 29 October 2024.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

 

Wills@Home Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 January 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Computer equipment

33.33% straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Wills@Home Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 January 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Profit before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

431

330

 

Wills@Home Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 January 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 31 January 2023

990

990

Additions

880

880

At 30 January 2024

1,870

1,870

Depreciation

At 31 January 2023

852

852

Charge for the year

431

431

At 30 January 2024

1,283

1,283

Carrying amount

At 30 January 2024

587

587

At 30 January 2023

138

138

6

Stocks

2024
£

2023
£

Work in progress

21,800

22,500

7

Debtors

Current

2024
£

2023
£

Trade debtors

41,721

36,405

Other debtors

110,106

106,003

 

151,827

142,408

 

Wills@Home Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 January 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

30,491

61,954

Trade creditors

 

2,755

5,668

Taxation and social security

 

43,065

35,414

 

76,311

103,036

 

Wills@Home Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 January 2024

9

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

17,538

4,444

Bank overdrafts

12,953

57,510

30,491

61,954