4
false
false
false
false
false
false
false
false
false
false
true
false
false
false
false
false
false
No description of principal activity
2023-04-01
Sage Accounts Production Advanced 2024 - FRS102_2024
3
1
4
4
3
xbrli:pure
xbrli:shares
iso4217:GBP
08375695
2023-04-01
2024-03-31
08375695
2024-03-31
08375695
2023-03-31
08375695
2022-04-01
2023-03-31
08375695
2023-03-31
08375695
2022-03-31
08375695
core:FurnitureFittings
2023-04-01
2024-03-31
08375695
core:MotorVehicles
2023-04-01
2024-03-31
08375695
bus:RegisteredOffice
2023-04-01
2024-03-31
08375695
bus:LeadAgentIfApplicable
2023-04-01
2024-03-31
08375695
bus:Director4
2023-04-01
2024-03-31
08375695
bus:Director7
2023-04-01
2024-03-31
08375695
bus:Director8
2023-04-01
2024-03-31
08375695
core:WithinOneYear
2024-03-31
08375695
core:WithinOneYear
2023-03-31
08375695
core:FurnitureFittings
2023-03-31
08375695
core:MotorVehicles
2023-03-31
08375695
core:FurnitureFittings
2024-03-31
08375695
core:MotorVehicles
2024-03-31
08375695
core:AfterOneYear
2024-03-31
08375695
core:AfterOneYear
2023-03-31
08375695
core:ShareCapital
2024-03-31
08375695
core:ShareCapital
2023-03-31
08375695
core:RetainedEarningsAccumulatedLosses
2024-03-31
08375695
core:RetainedEarningsAccumulatedLosses
2023-03-31
08375695
core:CostValuation
core:Non-currentFinancialInstruments
2023-03-31
08375695
core:AdditionsToInvestments
core:Non-currentFinancialInstruments
2024-03-31
08375695
core:CostValuation
core:Non-currentFinancialInstruments
2024-03-31
08375695
core:Non-currentFinancialInstruments
2024-03-31
08375695
core:Non-currentFinancialInstruments
2023-03-31
08375695
core:FurnitureFittings
2023-03-31
08375695
core:MotorVehicles
2023-03-31
08375695
bus:Director1
2023-04-01
2024-03-31
08375695
bus:SmallEntities
2023-04-01
2024-03-31
08375695
bus:AuditExemptWithAccountantsReport
2023-04-01
2024-03-31
08375695
bus:SmallCompaniesRegimeForAccounts
2023-04-01
2024-03-31
08375695
bus:PrivateLimitedCompanyLtd
2023-04-01
2024-03-31
08375695
bus:FullAccounts
2023-04-01
2024-03-31
08375695
core:OtherPropertyPlantEquipment
2023-04-01
2024-03-31
08375695
core:OtherPropertyPlantEquipment
2023-03-31
08375695
core:OtherPropertyPlantEquipment
2024-03-31
COMPANY REGISTRATION NUMBER:
08375695
Filleted Unaudited Financial Statements |
|
Year ended 31 March 2024
Officers and professional advisers |
1 |
|
|
Accountants report to the board of directors on the preparation of the unaudited statutory financial statements |
2 |
|
|
Statement of financial position |
3 |
|
|
Notes to the financial statements |
5 |
|
|
Officers and Professional Advisers |
|
The board of directors |
Mr R Uppal |
|
Miss E Uppal |
|
Mrs T Uppal |
|
|
Registered office |
15 Barnsdale |
|
Great Easton |
|
Market Harborough |
|
Leicestershire |
|
LE16 8SG |
|
|
Accountants |
A Plus Accountants Limited |
|
Accountants |
|
10 Canberra House |
|
Corbygate Business Park |
|
Corby |
|
Northants |
|
NN17 5JG |
|
|
Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of
Willoughby (607) Limited |
|
Year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Willoughby (607) Limited for the year ended 31 March 2024, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of Willoughby (607) Limited, as a body, in accordance with the terms of our engagement letter dated 18 February 2013. Our work has been undertaken solely to prepare for your approval the financial statements of Willoughby (607) Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Willoughby (607) Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Willoughby (607) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Willoughby (607) Limited. You consider that Willoughby (607) Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Willoughby (607) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
A Plus Accountants Limited
Accountants
10 Canberra House
Corbygate Business Park
Corby
Northants
NN17 5JG
25 March 2025
Statement of Financial Position |
|
31 March 2024
Fixed assets
Tangible assets |
5 |
|
38,682 |
49,901 |
Investments |
7 |
|
4 |
3 |
|
|
-------- |
-------- |
|
|
38,686 |
49,904 |
|
|
|
|
|
Current assets
Stocks |
310,208 |
|
310,058 |
Debtors |
8 |
3,956,695 |
|
3,372,213 |
Cash at bank and in hand |
163,455 |
|
3,110 |
|
------------ |
|
------------ |
|
4,430,358 |
|
3,685,381 |
|
|
|
|
|
Creditors: amounts falling due within one year |
9 |
3,126,017 |
|
2,261,387 |
|
------------ |
|
------------ |
Net current assets |
|
1,304,341 |
1,423,994 |
|
|
------------ |
------------ |
Total assets less current liabilities |
|
1,343,027 |
1,473,898 |
|
|
|
|
|
Creditors: amounts falling due after more than one year |
10 |
|
24,636 |
63,646 |
|
|
------------ |
------------ |
Net assets |
|
1,318,391 |
1,410,252 |
|
|
------------ |
------------ |
|
|
|
|
|
Capital and reserves
Called up share capital |
|
1,600,002 |
1,600,002 |
Profit and loss account |
|
(
281,611) |
(
189,750) |
|
|
------------ |
------------ |
Shareholders funds |
|
1,318,391 |
1,410,252 |
|
|
------------ |
------------ |
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 31 March 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 financial statements for the year in question in accordance with section 476
;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
Statement of Financial Position (continued) |
|
31 March 2024
These financial statements were approved by the
board of directors
and authorised for issue on
25 March 2025
, and are signed on behalf of the board by:
Company registration number:
08375695
Notes to the Financial Statements |
|
Year ended 31 March 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 15 Barnsdale, Great Easton, Market Harborough, Leicestershire, LE16 8SG.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer; the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
|
Fixtures & Fittings |
- |
20% straight line |
|
Motor Vehicles |
- |
25% reducing balance |
|
Catering Equipment |
- |
33% straight line |
|
|
|
|
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short term deposits with an original maturity date of three months or less. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income under administrative expenses. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4.
Particulars of employees
The average number of persons employed by the company during the year amounted to
4
(2023:
6
).
5.
Tangible assets
|
Fixtures and fittings |
Motor vehicles |
Catering equipment |
Total |
|
£ |
£ |
£ |
£ |
Cost |
|
|
|
|
At 1 April 2023 |
1,496 |
70,292 |
3,085 |
74,873 |
Additions |
701 |
– |
1,709 |
2,410 |
|
------- |
-------- |
------- |
-------- |
At 31 March 2024 |
2,197 |
70,292 |
4,794 |
77,283 |
|
------- |
-------- |
------- |
-------- |
Depreciation |
|
|
|
|
At 1 April 2023 |
70 |
23,461 |
1,441 |
24,972 |
Charge for the year |
416 |
11,708 |
1,505 |
13,629 |
|
------- |
-------- |
------- |
-------- |
At 31 March 2024 |
486 |
35,169 |
2,946 |
38,601 |
|
------- |
-------- |
------- |
-------- |
Carrying amount |
|
|
|
|
At 31 March 2024 |
1,711 |
35,123 |
1,848 |
38,682 |
|
------- |
-------- |
------- |
-------- |
At 31 March 2023 |
1,426 |
46,831 |
1,644 |
49,901 |
|
------- |
-------- |
------- |
-------- |
|
|
|
|
|
6.
Hire purchase secured liability
The following secured debts are included within creditors:
|
|
2024 |
2023 |
|
|
£ |
£ |
|
Hire Purchase agreements not later than 1 year |
42,201 |
42,201 |
|
Hire Purchase agreements later than 1 year and not later than 5 years |
24,636 |
63,646 |
|
|
-------- |
--------- |
|
|
66,837 |
105,847 |
|
|
-------- |
--------- |
|
|
|
|
Hire purchase and lease agreements are secured on the assets to which they relate.
7.
Investments
|
Shares in group undertakings |
|
£ |
Cost |
|
At 1 April 2023 |
3 |
Additions |
1 |
|
---- |
At 31 March 2024 |
4 |
|
---- |
Impairment |
|
At 1 April 2023 and 31 March 2024 |
– |
|
---- |
|
|
Carrying amount |
|
At 31 March 2024 |
4 |
|
---- |
At 31 March 2023 |
3 |
|
---- |
|
|
Willoughby (607) Limited
holds 100% of the share capital of 1 £1 ordinary share of The Sun Inn Great Easton Limited, which was incorporated in England and Wales.
Willoughby (607) Limited holds 100% of the share capital of 1 £1 ordinary share of The Nevill Arms (Medbourne) Limited, which was incorporated in England and Wales.
Willoughby (607) Limited holds 100% of the share capital of 1 £1 ordinary share of Willoughby (610) Limited, which was incorporated in England and Wales.
Willoughby (607) Limited holds 100% of the share capital of 1 £1 ordinary share of The Three Goats Services Limited, which was incorporated in England and Wales.
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
8.
Debtors
|
2024 |
2023 |
|
£ |
£ |
Trade debtors |
– |
58,819 |
Amounts owed by group undertakings |
3,955,283 |
3,288,640 |
Prepayments and accrued income |
642 |
24,754 |
Other debtors |
770 |
– |
|
------------ |
------------ |
|
3,956,695 |
3,372,213 |
|
------------ |
------------ |
|
|
|
9.
Creditors:
amounts falling due within one year
|
2024 |
2023 |
|
£ |
£ |
Trade creditors |
10,780 |
1,804 |
Accruals and deferred income |
24,896 |
1,713 |
Corporation tax |
200 |
100 |
Social security and other taxes |
38,284 |
32,811 |
Obligations under finance leases and hire purchase contracts |
42,201 |
42,201 |
Director loan accounts |
260,247 |
310,247 |
Other creditors |
2,749,409 |
1,872,511 |
|
------------ |
------------ |
|
3,126,017 |
2,261,387 |
|
------------ |
------------ |
|
|
|
Including within director loan accounts is an amount totalling £260,242 owed to
Mrs T Uppal
. This amount is secured, interest free and repayable on demand.
10.
Creditors:
amounts falling due after more than one year
|
2024 |
2023 |
|
£ |
£ |
Obligations under finance leases and hire purchase contracts |
24,636 |
63,646 |
|
-------- |
-------- |
|
|
|
11.
Related party transactions
The company has availed itself of the exemption contained within FRS 102 Section 33 Related Party Disclosures not to disclose details of transactions with fellow group entities.
Mr R Uppal
is also a director of Bybrook Finance Solutions Limited & No.23 (Uppingham) Limited. During the period the Company received advances of £739,000 (2023: £642,433) from Bybrook Finance Solutions Limited. The amount outstanding at the period end included within other creditors is £1,923,535 (2023: £1,184,535). This amount is interest free, secured and repayable on demand. During the period the Company received advances of £0 (2023: £125,457) from No.23 (Uppingham) Limited. The Company has repaid £112,103 during the period (2023: £0). The amount outstanding at the period end included within other creditors is £13,354 (2023: £125,457). This amount is interest free, secured and repayable on demand.