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REGISTERED NUMBER: 08867809 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

WILLY WORMS LTD

WILLY WORMS LTD (REGISTERED NUMBER: 08867809)






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


WILLY WORMS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: Chris Holgreaves





REGISTERED OFFICE: Long Drax
Selby
York
Yorkshire
YO8 8NH





REGISTERED NUMBER: 08867809 (England and Wales)





ACCOUNTANTS: Walter Dawson & Son
Chartered Accountants
First Floor, Unit 12
Pennine Business Park
Longbow Close, Bradley
Huddersfield
West Yorkshire
HD2 1GQ

WILLY WORMS LTD (REGISTERED NUMBER: 08867809)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 32,962 -
Tangible assets 5 375,915 345,604
408,877 345,604

CURRENT ASSETS
Stocks 431,350 427,000
Debtors 6 156,980 104,079
Cash at bank and in hand 24,163 6,098
612,493 537,177
CREDITORS
Amounts falling due within one year 7 789,824 572,028
NET CURRENT LIABILITIES (177,331 ) (34,851 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

231,546

310,753

CREDITORS
Amounts falling due after more than
one year

8

(121,329

)

(112,645

)

PROVISIONS FOR LIABILITIES (14,316 ) (49,846 )
NET ASSETS 95,901 148,262

CAPITAL AND RESERVES
Called up share capital 100 100
Profit and loss account 95,801 148,162
95,901 148,262

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 director acknowledges his 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.

WILLY WORMS LTD (REGISTERED NUMBER: 08867809)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 February 2025 and were signed by:





Chris Holgreaves - Director


WILLY WORMS LTD (REGISTERED NUMBER: 08867809)

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

1. STATUTORY INFORMATION

Willy Worms 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.

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.

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

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 10% on cost and 2% on cost
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 25% 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 Profit and Loss Account, 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.


WILLY WORMS LTD (REGISTERED NUMBER: 08867809)

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

2. ACCOUNTING POLICIES - continued
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.

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.

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.

INCOME RECOGNITION
Income is recognised when goods have been delivered to customers such that the risks and rewards of ownership have transferred to them.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2023 - 12 ) .

4. INTANGIBLE FIXED ASSETS
Computer
software
£   
COST
Additions 36,624
At 31 March 2024 36,624
AMORTISATION
Amortisation for year 3,662
At 31 March 2024 3,662
NET BOOK VALUE
At 31 March 2024 32,962

WILLY WORMS LTD (REGISTERED NUMBER: 08867809)

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

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 April 2023 243,572 169,827 102,045 18,072 533,516
Additions - 62,730 14,396 - 77,126
At 31 March 2024 243,572 232,557 116,441 18,072 610,642
DEPRECIATION
At 1 April 2023 70,967 29,392 74,158 13,395 187,912
Charge for year 14,758 20,317 10,571 1,169 46,815
At 31 March 2024 85,725 49,709 84,729 14,564 234,727
NET BOOK VALUE
At 31 March 2024 157,847 182,848 31,712 3,508 375,915
At 31 March 2023 172,605 140,435 27,887 4,677 345,604

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 76,748 32,533
Other debtors 80,232 71,546
156,980 104,079

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans 141,611 131,574
Hire purchase contracts 57,136 43,568
Trade creditors 448,564 362,943
Taxation and social security 99,140 24,892
Other creditors 43,373 9,051
789,824 572,028

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 121,329 112,645

WILLY WORMS LTD (REGISTERED NUMBER: 08867809)

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

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 1,711 2,390
Bank loans 139,900 129,184
141,611 131,574

The bank overdraft and loan is secured over assets of the company.

10. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The assets of the pension scheme are held separately from those of the company in an independently administered fund. The pension cost represents contributions payable by the company to the fund and amounted to £9,597 (2023: £4,980). Contributions totalling £2,116(2023: £NIL) were payable to the fund at the year end and are included in creditors.

11. RELATED PARTY DISCLOSURES

Included within debtors is the following directors loans owed by the director of £45,434 (2023: £44,690).