Registered number
04063272
Willis Estates Limited
Unaudited Filleted Accounts
30 September 2024
Willis Estates Limited
Registered number: 04063272
Balance Sheet
as at 30 September 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 3,641,712 3,725,750
Current assets
Debtors 4 1,769 9,881
Cash at bank and in hand 10,922 68,226
12,691 78,107
Creditors: amounts falling due within one year 5 (58,836) (66,570)
Net current (liabilities)/assets (46,145) 11,537
Total assets less current liabilities 3,595,567 3,737,287
Creditors: amounts falling due after more than one year 6 (983,908) (1,013,057)
Provisions for liabilities (422,293) (459,544)
Net assets 2,189,366 2,264,686
Capital and reserves
Called up share capital 93,800 93,800
Revaluation reserve 7 1,266,881 1,378,630
Profit and loss account 8 828,685 792,256
Shareholders' funds 2,189,366 2,264,686
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Edward Willis
Director
Approved by the board on 20 March 2025
Willis Estates Limited
Notes to the Accounts
for the year ended 30 September 2024
1 Accounting policies
Basis of preparation
Willis Estates Limited is a company limited by shares incorporated in England within the United Kingdom. The registration number and the address of the registered office is given in the company information on page 1 of these financial statements. The company's principle place of business is Lamacraft Farm, Chivelstone, Kingsbridge, TQ7 2NG.

The financial statements cover the individual entity, are presented in sterling which is the functional currency of the company and are not rounded.

The financial statements have been prepared under the historical cost convention and in accordance with FRS 102 1A (this is the company's first time adoption and there is no transition adjustment to report) , The Financial Reporting Standard applicable in the UK and Republic of Ireland.

The significant accounting policies applied in the preparation of these financial statements are set out below.
Turnover
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over the lease term
Motor vehicles 25% reducing balance
Fixtures, fittings, tools and equipment 25% straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 October 2023 3,683,000 3,235 57,000 3,743,235
Additions 163,763 1,183 - 164,946
Surplus on revaluation (105,000) - - (105,000)
Disposals (133,000) - - (133,000)
At 30 September 2024 3,608,763 4,418 57,000 3,670,181
Depreciation
At 1 October 2023 - 3,235 14,250 17,485
Charge for the year - 296 10,688 10,984
At 30 September 2024 - 3,531 24,938 28,469
Net book value
At 30 September 2024 3,608,763 887 32,062 3,641,712
At 30 September 2023 3,683,000 - 42,750 3,725,750
Freehold land and buildings: 2024 2023
£ £
Historical cost 1,919,589 1,844,826
Cumulative depreciation based on historical cost - -
1,919,589 1,844,826
4 Debtors 2024 2023
£ £
Trade debtors - 5,375
Other debtors 1,769 4,506
1,769 9,881
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 40,397 12,639
Director's account 7,901 370
Accruals 2,700 2,913
Taxation and social security costs - 42,810
Other creditors 7,838 7,838
58,836 66,570
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 983,908 1,013,057
7 Revaluation reserve 2024 2023
£ £
At 1 October 2023 1,378,630 2,145,393
Movements in reserves due to revaluation (67,749) (384,963)
Movements in reserves due to disposals (44,000) (381,800)
At 30 September 2024 1,266,881 1,378,630
8 Profit and Loss 2024 2023
£ £
Profit and Loss - B/fwd 792,256 256,122
Profit/(loss) for the year (54,821) (208,129)
Dividend (20,500) (22,500)
Transfers 111,750 766,763
828,685 792,256
9 Deferred tax 2024 2023
£ £
Deferred tax - B/fwd 459,544 462,218
Deferred tax movement (37,251) (2,674)
422,293 459,544
10 Other information
Willis Estates Limited is a private company limited by shares and incorporated in England. Its registered office is:
2nd Floor, 10-12 Bourlet Close
London
W1W 7BR
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