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REGISTERED NUMBER: 10702202 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

DR SAM WILLIS LTD

DR SAM WILLIS LTD (REGISTERED NUMBER: 10702202)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


DR SAM WILLIS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: Dr S B A Willis
Mrs V M Willis





REGISTERED OFFICE: 4 Trafalgar Place
Exeter
Devon
EX4 6AG





REGISTERED NUMBER: 10702202 (England and Wales)





ACCOUNTANTS: Merlin Accountancy Services Ltd
2nd Floor
33 Longbrook Street
Exeter
Devon
EX4 6AW

DR SAM WILLIS LTD (REGISTERED NUMBER: 10702202)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,539 3,760

CURRENT ASSETS
Debtors 5 11,827 11,711
Cash at bank 91,889 90,570
103,716 102,281
CREDITORS
Amounts falling due within one year 6 25,762 37,236
NET CURRENT ASSETS 77,954 65,045
TOTAL ASSETS LESS CURRENT
LIABILITIES

81,493

68,805

PROVISIONS FOR LIABILITIES 7 938 996
NET ASSETS 80,555 67,809

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 80,553 67,807
SHAREHOLDERS' FUNDS 11 80,555 67,809

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.

DR SAM WILLIS LTD (REGISTERED NUMBER: 10702202)

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 October 2024 and were signed on its behalf by:




Dr S B A Willis - Director



Mrs V M Willis - Director


DR SAM WILLIS LTD (REGISTERED NUMBER: 10702202)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Dr Sam Willis 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

DR SAM WILLIS LTD (REGISTERED NUMBER: 10702202)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 April 2023 3,712 610 440 4,762
Additions 666 - - 666
At 31 March 2024 4,378 610 440 5,428
DEPRECIATION
At 1 April 2023 791 123 88 1,002
Charge for year 719 98 70 887
At 31 March 2024 1,510 221 158 1,889
NET BOOK VALUE
At 31 March 2024 2,868 389 282 3,539
At 31 March 2023 2,921 487 352 3,760

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
2024 2023
£    £   
Other debtors 11,827 11,711

DR SAM WILLIS LTD (REGISTERED NUMBER: 10702202)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 336 363
Taxation and social security 24,813 36,290
Other creditors 613 583
25,762 37,236

7. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 938 996

Deferred
tax
£   
Balance at 1 April 2023 996
Credit to Income Statement during year (58 )
Balance at 31 March 2024 938

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Dr S B A Willis and Mrs V M Willis
Balance outstanding at start of year 11,140 2,614
Amounts advanced 11,271 11,140
Amounts repaid (11,140 ) (2,614 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 11,271 11,140

During the year the directors had a loan with the company. No interest was charged on this loan and there were no terms for repayment.

DR SAM WILLIS LTD (REGISTERED NUMBER: 10702202)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

9. RELATED PARTY DISCLOSURES

During the year, total dividends of £64,000 (2023 - £40,000) were paid to the directors .

10. ULTIMATE CONTROLLING PARTY

The controlling party is not known.

11. RECONCILIATION OF MOVEMENTS IN SHAREHOLDERS' FUNDS
2024 2023
£    £   
Profit for the financial year 76,746 90,457
Dividends (64,000 ) (40,000 )
Net addition to shareholders' funds 12,746 50,457
Opening shareholders' funds 67,809 17,352
Closing shareholders' funds 80,555 67,809