Willis Construction (Wales) Limited 05461097 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of property development and management Digita Accounts Production Advanced 6.30.9574.0 true 05461097 2023-04-01 2024-03-31 05461097 2024-03-31 05461097 bus:OrdinaryShareClass1 2024-03-31 05461097 core:FinancialAssetsCostLessImpairment core:Non-currentFinancialInstruments 2024-03-31 05461097 core:CurrentFinancialInstruments 2024-03-31 05461097 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 05461097 bus:SmallEntities 2023-04-01 2024-03-31 05461097 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 05461097 bus:FilletedAccounts 2023-04-01 2024-03-31 05461097 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 05461097 bus:RegisteredOffice 2023-04-01 2024-03-31 05461097 bus:CompanySecretary1 2023-04-01 2024-03-31 05461097 bus:Director1 2023-04-01 2024-03-31 05461097 bus:OrdinaryShareClass1 2023-04-01 2024-03-31 05461097 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 05461097 core:LandBuildings 2023-04-01 2024-03-31 05461097 core:KeyManagementPersonnel 2023-04-01 2024-03-31 05461097 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-04-01 2024-03-31 05461097 core:OtherRelatedParties 2023-04-01 2024-03-31 05461097 core:ParentEntities 2023-04-01 2024-03-31 05461097 countries:UnitedKingdom 2023-04-01 2024-03-31 05461097 2023-03-31 05461097 2022-04-01 2023-03-31 05461097 2023-03-31 05461097 bus:OrdinaryShareClass1 2023-03-31 05461097 core:FinancialAssetsCostLessImpairment core:Non-currentFinancialInstruments 2023-03-31 05461097 core:CurrentFinancialInstruments 2023-03-31 05461097 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 05461097

Willis Construction (Wales) Limited

Filleted Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 31 March 2024

 

Willis Construction (Wales) Limited

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 7

 

Willis Construction (Wales) Limited

Company Information

 

Director

Mr GN Williams

Company secretary

 

Mrs CJ Williams
 

Registered office

Unit 1
River Bridge Business Centre
Rhymney River Bridge Road
Penylan
Cardiff
CF23 9FP

 

Accountants

HSJ Accountants Ltd
Severn House
Hazell Drive
Newport
South Wales
NP10 8FY

 

Willis Construction (Wales) Limited

(Registration number: 05461097)
Abridged Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

2,400,000

2,530,000

Other financial assets

5

80,000

80,000

 

2,480,000

2,610,000

Current assets

 

Debtors

293,360

50,138

Cash at bank and in hand

 

1,771,201

1,822,424

 

2,064,561

1,872,562

Prepayments and accrued income

 

1,884

2,511

Creditors: Amounts falling due within one year

(1,054,332)

(1,816,393)

Net current assets

 

1,012,113

58,680

Total assets less current liabilities

 

3,492,113

2,668,680

Accruals and deferred income

 

(11,451)

(13,401)

Net assets

 

3,480,662

2,655,279

Capital and reserves

 

Called up share capital

6

1,621,752

1,621,752

Other reserves

12,610

12,610

Retained earnings

1,846,300

1,020,917

Shareholders' funds

 

3,480,662

2,655,279

 

Willis Construction (Wales) Limited

(Registration number: 05461097)
Abridged Balance Sheet as at 31 March 2024

For the financial 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.

Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

These financial statements have been 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 20 May 2025
 

.........................................

Mr GN Williams
Director

 

Willis Construction (Wales) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Unit 1
River Bridge Business Centre
Rhymney River Bridge Road
Penylan
Cardiff
CF23 9FP

These financial statements were authorised for issue by the director on 20 May 2025.

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 abridged financial statements were prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

Basis of preparation

These abridged 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.

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 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 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.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Willis Construction (Wales) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

Depreciation

Asset class

Depreciation method and rate

Investment properties

Depreciation is not provided on investment properties

Investment property

Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

 

Willis Construction (Wales) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

4

Tangible assets

Investment properties

2024
£

At 1 April

2,530,000

Acquired through business combinations

160,000

Disposals

(290,000)

At 31 March

2,400,000

The investment properties included in the accounts are measured at fair value which is no different from the historic cost.

There has been no valuation of investment property by an independent valuer.

5

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 April 2023

80,000

80,000

At 31 March 2024

80,000

80,000

Impairment

Carrying amount

At 31 March 2024

80,000

80,000

At 31 March 2023

80,000

80,000

 

Willis Construction (Wales) Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 31 March 2024

6

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

1,621,752

1,621,752

1,621,752

1,621,752

       

7

Related party transactions

Key management personnel

Relationship: Director

Summary of transactions with key management

During the year the director provided an unsecured, interest free, repayable on demand loan to the company. At the balance sheet date the amount owed to the director was £30,000 (2023 - £30,000).
 

Summary of transactions with parent

Relationship: Parent Company
 During the year the parent company provided the company with an unsecured, interest free, repayable on demand loan. At the balance sheet date the amount owed to the parent company was £5,447 (2023 - £6,146).
 

Summary of transactions with other related parties

Relationship: Common director and shareholder
 During the year the related party company continuted to provide an unsecured, interest free, repayable on demand loan to the company. At the balance sheet date the amount owed to the related party company was £270,728 (2023 - £1,073,457).