2023-06-012024-05-312024-05-31false11359201THE WILL GUYS 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THE WILL GUYS LTD

Registered Number
11359201
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

THE WILL GUYS LTD
Company Information
for the year from 1 June 2023 to 31 May 2024

Directors

DEAN, Nicole
WILLIAMS, Darren
WILLIAMS, Lisa May

Registered Address

28 Benton Road
Newcastle Upon Tyne
NE7 7DU

Registered Number

11359201 (England and Wales)
THE WILL GUYS LTD
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets317,0245,897
17,0245,897
Current assets
Debtors33,372100
Cash at bank and on hand164,358190,066
197,730190,166
Creditors amounts falling due within one year4(71,899)(155,262)
Net current assets (liabilities)125,83134,904
Total assets less current liabilities142,85540,801
Creditors amounts falling due after one year5(48,095)-
Net assets94,76040,801
Capital and reserves
Called up share capital100100
Profit and loss account94,66040,701
Shareholders' funds94,76040,801
The financial statements were approved and authorised for issue by the Board of Directors on 17 February 2025, and are signed on its behalf by:
WILLIAMS, Darren
Director
Registered Company No. 11359201
THE WILL GUYS LTD
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover policy
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 sale of goods and from the rendering of services.
Revenue from rendering of services
Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Reducing balance (%)
Fixtures and fittings25
Office Equipment25
2.Average number of employees

20242023
Average number of employees during the year33
3.Tangible fixed assets

Fixtures & fittings

Office Equipment

Total

£££
Cost or valuation
At 01 June 23-12,69912,699
Additions12,2482,27114,519
At 31 May 2412,24814,97027,218
Depreciation and impairment
At 01 June 23-6,8026,802
Charge for year2,8125803,392
At 31 May 242,8127,38210,194
Net book value
At 31 May 249,4367,58817,024
At 31 May 23-5,8975,897
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables143-
Bank borrowings and overdrafts-100,000
Taxation and social security66,27649,783
Accrued liabilities and deferred income5,4805,479
Total71,899155,262
5.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts48,095-
Total48,095-