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WILLOUGHBY & SONS LTD

Registered Number
13805183
(England and Wales)

Unaudited Financial Statements for the Year ended
31 December 2024

WILLOUGHBY & SONS LTD
Company Information
for the year from 1 January 2024 to 31 December 2024

Directors

WILLOUGHBY, Martin
WILLOUGHBY, Michael
WILLOUGHBY, Sean

Registered Address

5-7 Pellew Arcade Teign Street
Teignmouth
TQ14 8EB

Registered Number

13805183 (England and Wales)
WILLOUGHBY & SONS LTD
Statement of Financial Position
31 December 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets312,02915,036
12,02915,036
Current assets
Debtors20,8988,766
Cash at bank and on hand-16,931
20,89825,697
Creditors amounts falling due within one year4(19,357)(23,043)
Net current assets (liabilities)1,5412,654
Total assets less current liabilities13,57017,690
Creditors amounts falling due after one year5(13,470)(17,229)
Net assets100461
Capital and reserves
Called up share capital100100
Profit and loss account-361
Shareholders' funds100461
The financial statements were approved and authorised for issue by the Board of Directors on 9 April 2025, and are signed on its behalf by:
WILLOUGHBY, Martin
Director
WILLOUGHBY, Michael
Director
WILLOUGHBY, Sean
Director

Registered Company No. 13805183
WILLOUGHBY & SONS LTD
Notes to the Financial Statements
for the year ended 31 December 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).
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
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.
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 (%)
Vehicles20
2.Average number of employees

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

Vehicles

Total

££
Cost or valuation
At 01 January 2418,79518,795
At 31 December 2418,79518,795
Depreciation and impairment
At 01 January 243,7593,759
Charge for year3,0073,007
At 31 December 246,7666,766
Net book value
At 31 December 2412,02912,029
At 31 December 2315,03615,036
4.Creditors: amounts due within one year

2024

2023

££
Bank borrowings and overdrafts1,058-
Taxation and social security17,75522,243
Other creditors-283
Accrued liabilities and deferred income544517
Total19,35723,043
5.Creditors: amounts due after one year

2024

2023

££
Other creditors13,47017,229
Total13,47017,229
6.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts13,47017,229