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REGISTERED NUMBER: 10578983 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

WILLS TAX & TRUSTS LTD

WILLS TAX & TRUSTS LTD (REGISTERED NUMBER: 10578983)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WILLS TAX & TRUSTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTOR: R L C Best





SECRETARY: UnaVida Wealth Management Ltd





REGISTERED OFFICE: 4 Beech Court
Wokingham Road
Hurst
Berkshire
RG10 0RQ





REGISTERED NUMBER: 10578983 (England and Wales)

WILLS TAX & TRUSTS LTD (REGISTERED NUMBER: 10578983)

BALANCE SHEET
31 AUGUST 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 356 889

CURRENT ASSETS
Debtors 5 31,827 43,143
Cash at bank 5,338 4,870
37,165 48,013
CREDITORS
Amounts falling due within one year 6 150,670 156,289
NET CURRENT LIABILITIES (113,505 ) (108,276 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(113,149

)

(107,387

)

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings (113,349 ) (107,587 )
(113,149 ) (107,387 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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.

WILLS TAX & TRUSTS LTD (REGISTERED NUMBER: 10578983)

BALANCE SHEET - continued
31 AUGUST 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 March 2025 and were signed by:





R L C Best - Director


WILLS TAX & TRUSTS LTD (REGISTERED NUMBER: 10578983)

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

1. STATUTORY INFORMATION

Wills Tax & Trusts 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.

Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of any 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.

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 Statement of Income and Retained Earnings, 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.

WILLS TAX & TRUSTS LTD (REGISTERED NUMBER: 10578983)

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

2. ACCOUNTING POLICIES - continued

Going concern
The financial statements have been prepared on a going concern basis.
The company's Balance Sheet as at 31 August 2024 reflects net current liabilities.
These derive from substantial investment in seminars run by the company during the 3 year period 2018 to 2020 and ongoing marketing in more recent periods.
In addition to the above, Wills Tax and Trusts (WT&T) continues to bear a significant share of running costs as rent , rates , telephone and stationery costs for premises shared by UnaVida Wealth Management Limited (UVWM - the creditor). In 2023, WT&T has begun the recharge of costs to UVWM for a share of these in order to ensure that costs and more fairly shared and to prevent an increase with inter company indebtedness.
The director confirms that ongoing support the activities of Wills Tax and Trusts Limited will continue.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 September 2023
and 31 August 2024 1,600
DEPRECIATION
At 1 September 2023 711
Charge for year 533
At 31 August 2024 1,244
NET BOOK VALUE
At 31 August 2024 356
At 31 August 2023 889

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade debtors 13,800 31,605
Other debtors 18,027 11,538
31,827 43,143

WILLS TAX & TRUSTS LTD (REGISTERED NUMBER: 10578983)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Trade creditors 20,371 22,221
Amounts owed to group undertakings 118,431 106,488
Taxation and social security 4,377 8,998
Other creditors 7,491 18,582
150,670 156,289