13 14 Willies Cacao Limited 04360769 false 2024-02-01 2025-01-31 2025-01-31 The principal activity of the company is manufacture of cocoa and chocolate confectionery. Digita Accounts Production Advanced 6.30.9574.0 true 04360769 2024-02-01 2025-01-31 04360769 2025-01-31 04360769 core:HirePurchaseContracts core:CurrentFinancialInstruments 2025-01-31 04360769 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2025-01-31 04360769 core:CurrentFinancialInstruments 2025-01-31 04360769 core:CurrentFinancialInstruments core:WithinOneYear 2025-01-31 04360769 core:Non-currentFinancialInstruments 2025-01-31 04360769 core:Non-currentFinancialInstruments core:AfterOneYear 2025-01-31 04360769 core:BetweenOneFiveYears 2025-01-31 04360769 core:WithinOneYear 2025-01-31 04360769 core:ConstructionInProgressAssetsUnderConstruction 2025-01-31 04360769 core:FurnitureFittings 2025-01-31 04360769 core:MotorVehicles 2025-01-31 04360769 core:PlantMachinery 2025-01-31 04360769 1 2025-01-31 04360769 bus:SmallEntities 2024-02-01 2025-01-31 04360769 bus:AuditExemptWithAccountantsReport 2024-02-01 2025-01-31 04360769 bus:FilletedAccounts 2024-02-01 2025-01-31 04360769 bus:SmallCompaniesRegimeForAccounts 2024-02-01 2025-01-31 04360769 bus:RegisteredOffice 2024-02-01 2025-01-31 04360769 bus:Director1 2024-02-01 2025-01-31 04360769 bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 04360769 core:Buildings 2024-02-01 2025-01-31 04360769 core:ConstructionInProgressAssetsUnderConstruction 2024-02-01 2025-01-31 04360769 core:FurnitureFittings 2024-02-01 2025-01-31 04360769 core:MotorVehicles 2024-02-01 2025-01-31 04360769 core:PlantMachinery 2024-02-01 2025-01-31 04360769 core:Vehicles 2024-02-01 2025-01-31 04360769 countries:England 2024-02-01 2025-01-31 04360769 1 2024-02-01 2025-01-31 04360769 2024-01-31 04360769 core:ConstructionInProgressAssetsUnderConstruction 2024-01-31 04360769 core:FurnitureFittings 2024-01-31 04360769 core:MotorVehicles 2024-01-31 04360769 core:PlantMachinery 2024-01-31 04360769 1 2024-01-31 04360769 2023-02-01 2024-01-31 04360769 2024-01-31 04360769 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-01-31 04360769 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-01-31 04360769 core:CurrentFinancialInstruments 2024-01-31 04360769 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 04360769 core:Non-currentFinancialInstruments 2024-01-31 04360769 core:Non-currentFinancialInstruments core:AfterOneYear 2024-01-31 04360769 core:BetweenOneFiveYears 2024-01-31 04360769 core:WithinOneYear 2024-01-31 04360769 core:ConstructionInProgressAssetsUnderConstruction 2024-01-31 04360769 core:FurnitureFittings 2024-01-31 04360769 core:MotorVehicles 2024-01-31 04360769 core:PlantMachinery 2024-01-31 04360769 1 2024-01-31 04360769 1 2023-02-01 2024-01-31 04360769 1 2023-01-31 xbrli:pure iso4217:GBP

Registration number: 04360769

Willies Cacao Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2025

 

Willies Cacao Limited

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 8

 

Willies Cacao Limited

(Registration number: 04360769)
Statement of Financial Position as at 31 January 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

169,015

180,249

Current assets

 

Stocks

485,402

613,616

Debtors

5

289,870

468,221

Cash at bank and in hand

 

1,071,194

583,978

 

1,846,466

1,665,815

Creditors: Amounts falling due within one year

6

(249,709)

(238,885)

Net current assets

 

1,596,757

1,426,930

Total assets less current liabilities

 

1,765,772

1,607,179

Creditors: Amounts falling due after more than one year

6

(17,423)

(54,696)

Provisions for liabilities

(17,198)

(28,914)

Net assets

 

1,731,151

1,523,569

Capital and reserves

 

Called up share capital

2

2

Profit and loss account

1,731,149

1,523,567

Shareholders' funds

 

1,731,151

1,523,569

For the financial year ending 31 January 2025 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 their 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 and 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 Statement of Comprehensive Income.

Approved and authorised by the director on 5 June 2025
 


William George Harcourt-Cooze
Director

 

Willies Cacao Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

1

General information

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

The address of its registered office is:
Langlands Business Park Unit 3
Uffculme
Devon
EX15 3DA
United Kingdom

Principal activity

The principal activity of the company is manufacture of cocoa and chocolate confectionery.

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 financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These 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.

The financial statements are prepared in sterling which is the functional currency of the entity.

 

Willies Cacao Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

 

Willies Cacao Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025 (continued)

2

Accounting policies (continued)

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Property improvements

4% straight line

Plant and equipment

20% straight line

Fixtures and fittings

33% straight line

Motor vehicles

25% straight line

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

 

Willies Cacao Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025 (continued)

2

Accounting policies (continued)

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the statement of comprehensive income and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

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.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 13 (2024 - 14).

 

Willies Cacao Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025 (continued)

4

Tangible assets

Property improvements
£

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 February 2024

2,655

46,081

1,916,376

32,850

1,997,962

Additions

44,710

1,499

52,181

-

98,390

Disposals

-

(25,732)

(52,801)

-

(78,533)

At 31 January 2025

47,365

21,848

1,915,756

32,850

2,017,819

Depreciation

At 1 February 2024

2,655

42,578

1,753,318

19,162

1,817,713

Charge for the year

1,788

2,932

96,692

8,212

109,624

Eliminated on disposal

-

(25,733)

(52,800)

-

(78,533)

At 31 January 2025

4,443

19,777

1,797,210

27,374

1,848,804

Carrying amount

At 31 January 2025

42,922

2,071

118,546

5,476

169,015

At 31 January 2024

-

3,503

163,058

13,688

180,249

5

Debtors

2025
£

2024
£

Trade debtors

218,486

410,319

Other debtors

49,778

42,790

Prepayments

21,606

15,112

289,870

468,221

 

Willies Cacao Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025 (continued)

6

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

8

37,273

43,648

Trade creditors

 

76,830

92,102

Taxation and social security

 

125,622

82,258

Accruals and deferred income

 

6,229

18,507

Other creditors

 

3,755

2,370

 

249,709

238,885

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

8

17,423

54,696

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

 

Willies Cacao Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025 (continued)

8

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

9,090

36,362

Hire purchase contracts

8,333

18,334

17,423

54,696

Current loans and borrowings

2025
£

2024
£

Bank borrowings

27,273

27,273

Hire purchase contracts

10,000

16,375

37,273

43,648

9

Obligations under leases and hire purchase contracts

Finance leases

The total of future minimum lease payments is as follows:

2025
£

2024
£

Not later than one year

10,000

18,500

Later than one year and not later than five years

8,333

16,208

18,333

34,708

10

Related party transactions

Transactions with the director

2025

At 1 February 2024
£

Advances to director
£

Repayments by director
£

At 31 January 2025
£

The Director

4,130

574,987

(570,401)

8,716

         
       

 

2024

At 1 February 2023
£

Advances to director
£

Repayments by director
£

At 31 January 2024
£

The Director

(419)

7,228

(2,679)

4,130