44 42 Willis's Limited 10100778 false 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is Land Drainage & General Maintenance Digita Accounts Production Advanced 6.30.9574.0 true 10100778 2023-06-01 2024-05-31 10100778 2024-05-31 10100778 core:RetainedEarningsAccumulatedLosses 2024-05-31 10100778 core:ShareCapital 2024-05-31 10100778 core:CurrentFinancialInstruments 2024-05-31 10100778 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 10100778 core:Non-currentFinancialInstruments core:AfterOneYear 2024-05-31 10100778 core:FurnitureFittings 2024-05-31 10100778 core:MotorVehicles 2024-05-31 10100778 core:PlantMachinery 2024-05-31 10100778 bus:SmallEntities 2023-06-01 2024-05-31 10100778 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 10100778 bus:FilletedAccounts 2023-06-01 2024-05-31 10100778 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 10100778 bus:RegisteredOffice 2023-06-01 2024-05-31 10100778 bus:Director4 2023-06-01 2024-05-31 10100778 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 10100778 core:FurnitureFittings 2023-06-01 2024-05-31 10100778 core:MotorVehicles 2023-06-01 2024-05-31 10100778 core:PlantMachinery 2023-06-01 2024-05-31 10100778 countries:AllCountries 2023-06-01 2024-05-31 10100778 2023-05-31 10100778 core:FurnitureFittings 2023-05-31 10100778 core:MotorVehicles 2023-05-31 10100778 core:PlantMachinery 2023-05-31 10100778 2022-06-01 2023-05-31 10100778 2023-05-31 10100778 core:RetainedEarningsAccumulatedLosses 2023-05-31 10100778 core:ShareCapital 2023-05-31 10100778 core:CurrentFinancialInstruments 2023-05-31 10100778 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 10100778 core:Non-currentFinancialInstruments core:AfterOneYear 2023-05-31 10100778 core:FurnitureFittings 2023-05-31 10100778 core:MotorVehicles 2023-05-31 10100778 core:PlantMachinery 2023-05-31 xbrli:pure iso4217:GBP

Registration number: 10100778

Willis's Limited

Unaudited Financial Statements

for the Year Ended 31 May 2024

 

Willis's Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Willis's Limited

(Registration number: 10100778)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,813,526

1,752,379

Current assets

 

Stocks

228,519

434,940

Debtors

5

928,267

918,139

Cash at bank and in hand

 

151,840

37,111

 

1,308,626

1,390,190

Creditors: Amounts falling due within one year

6

(650,603)

(857,231)

Net current assets

 

658,023

532,959

Total assets less current liabilities

 

2,471,549

2,285,338

Creditors: Amounts falling due after more than one year

6

(182,500)

(248,729)

Provisions for liabilities

(453,382)

(377,135)

Net assets

 

1,835,667

1,659,474

Capital and reserves

 

Called up share capital

100

100

Retained earnings

1,835,567

1,659,374

Shareholders' funds

 

1,835,667

1,659,474

For the financial 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.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Willis's Limited

(Registration number: 10100778)
Balance Sheet as at 31 May 2024

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 January 2025 and signed on its behalf by:
 

.........................................
Mr SA Willis
Director

 

Willis's Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales .

The address of its registered office is:
Home Farm Yard Office
Bradwall Road
Bradwall
Sandbach
CW11 1RG

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

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.

These financial statements are prepared in Sterling, which is the functional currency of the company. All monetary amounts are rounded to the nearest £.

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 sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

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.

 

Willis's Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 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.

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

Plant and machinery

15% Reducing balance

Motor Vehicles

25% Reducing balance

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 44 (2023 - 42).

 

Willis's Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 June 2023

2,886

2,238,387

253,548

2,494,821

Additions

435

786,181

25,490

812,106

Disposals

-

(621,712)

-

(621,712)

At 31 May 2024

3,321

2,402,856

279,038

2,685,215

Depreciation

At 1 June 2023

721

631,779

109,942

742,442

Charge for the year

560

203,227

38,557

242,344

Eliminated on disposal

-

(113,097)

-

(113,097)

At 31 May 2024

1,281

721,909

148,499

871,689

Carrying amount

At 31 May 2024

2,040

1,680,947

130,539

1,813,526

At 31 May 2023

2,165

1,606,608

143,606

1,752,379

 

Willis's Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

5

Debtors

Current

2024
£

2023
£

Trade debtors

529,988

448,521

Prepayments

117,274

134,002

Other debtors

281,005

335,616

 

928,267

918,139

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

 

Loans and borrowings

169,250

183,380

Trade creditors

 

271,308

456,834

Amounts owed to related parties

95,345

141,388

Taxation and social security

 

80,090

13,456

Accruals and deferred income

 

11,473

28,261

Other creditors

 

23,137

33,912

 

650,603

857,231

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

 

Loans and borrowings

182,500

248,729


Secured Debts

Creditors include the following liabilities, on which security has been given by the company:-

Obligations under finance lease and hire purchase contracts of £169,250 (2023: £183,380) under one year and £182,500 (2023: £248,729) over one year, are secured against the assets themselves.