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Registered number: 4881149
Willowbrook (Hyndburn) Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 4881149
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 69,312 17,316
69,312 17,316
CURRENT ASSETS
Debtors 6 735,238 491,473
Cash at bank and in hand 597,274 649,510
1,332,512 1,140,983
Creditors: Amounts Falling Due Within One Year 7 (366,828 ) (390,677 )
NET CURRENT ASSETS (LIABILITIES) 965,684 750,306
TOTAL ASSETS LESS CURRENT LIABILITIES 1,034,996 767,622
PROVISIONS FOR LIABILITIES
Deferred Taxation 9 (6,221 ) (2,089 )
NET ASSETS 1,028,775 765,533
CAPITAL AND RESERVES
Called up share capital 11 4 4
Profit and Loss Account 1,028,771 765,529
SHAREHOLDERS' FUNDS 1,028,775 765,533
Page 1
Page 2
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Elaine Brady
Director
6th November 2024
The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Willowbrook (Hyndburn) Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 4881149 . The registered office is 188-190 Union Road, Oswaldtwistle, Accrington, Lancashire, BB5 3EG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services.
Rendering of services
Turnover from the rendering of services is recognised when the amount of revenue can be reliably measured, it is probable that the future economic benefits will flow to the company and specific criteria have been met for each of the company's activities.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
During the year, management have reviewed goodwill and made the decision to armortise the remaining balance in full.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 15% on cost
Motor Vehicles 25% on cost
Fixtures & Fittings 15% on cost
Computer Equipment 33% on cost
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
...CONTINUED
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2.5. Taxation - continued
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.6. Pensions
The company operates a defined contribution pension scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.7. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 22 23
Direct 126 133
148 156
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4. Intangible Assets
Goodwill
£
Cost
As at 1 June 2023 382,780
As at 31 May 2024 382,780
Amortisation
As at 1 June 2023 382,780
As at 31 May 2024 382,780
5. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Computer Equipment Total
£ £ £ £ £
Cost
As at 1 June 2023 5,598 32,244 35,525 29,075 102,442
Additions - 60,800 2,878 2,939 66,617
Disposals - (5,944 ) - - (5,944 )
As at 31 May 2024 5,598 87,100 38,403 32,014 163,115
Depreciation
As at 1 June 2023 2,147 31,336 29,785 21,858 85,126
Provided during the period 839 6,987 2,365 4,430 14,621
Disposals - (5,944 ) - - (5,944 )
As at 31 May 2024 2,986 32,379 32,150 26,288 93,803
Net Book Value
As at 31 May 2024 2,612 54,721 6,253 5,726 69,312
As at 1 June 2023 3,451 908 5,740 7,217 17,316
Included above are assets held under finance leases or hire purchase contracts with a net book value as follows:
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Page 6
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 221,331 225,752
Prepayments and accrued income 172,521 140,235
Other debtors 50,000 1,125
Invoice discounting 1,168 -
Director's loan account 290,218 124,361
735,238 491,473
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 32,605 37,972
Corporation tax 125,070 150,032
Other taxes and social security 35,473 33,184
Other creditors 9,508 7,787
Accruals and deferred income 164,172 103,788
Invoice discounting - 57,914
366,828 390,677
8. Secured Creditors
The invoice discounting creditor of £1,168 - debtor (2023 - £57,914 - creditor) is secured by a charge on trade debtors.
9. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
£ £
Other timing differences 6,221 2,089
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10. Provisions for Liabilities
Deferred Tax Total
£ £
As at 1 June 2023 2,089 2,089
Deferred taxation 4,132 4,132
Balance at 31 May 2024 6,221 6,221
11. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 4 4
12. Other Commitments
The total of future minimum lease payments under non-cancellable operating leases are as following:
2024 2023
£ £
Not later than one year 13,562 13,562
Later than one year and not later than five years 9,042 22,604
22,604 36,166
13. Directors Advances, Credits and Guarantees
Included within Debtors are the following loans to directors:
As at 1 June 2023 Amounts advanced Amounts repaid Amounts written off As at 31 May 2024
£ £ £ £ £
Mrs Elaine Brady 124,361 315,218 149,361 - 290,218
The above loan is unsecured, interest free and repayable on demand.
14. Related Party Transactions
Elaine BradyDirector

Elaine Brady

Director

During the year the company paid rent of £25,000 for business premises which are owned by the director Elaine Brady.
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