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COMPANY REGISTRATION NUMBER: 06793569
Willerby Management Limited
Filleted Unaudited Financial Statements
28 February 2025
Willerby Management Limited
Financial Statements
Year ended 28 February 2025
Contents
Page
Officers and professional advisers
1
Chartered accountant's 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
Willerby Management Limited
Officers and Professional Advisers
The board of directors
Mrs D Murray
Mr J Murray
Business address 19 Willerby Drive
Newcastle Upon Tyne
NE3 5LL
Registered office
Suite 2, 2 Mannin Way
Lancaster Business Park
Caton Road
Lancaster
LA1 3SU
Accountants
Riverside Accountancy Lancaster Limited
Chartered accountants
Suite 2, 2 Mannin Way
Lancaster Business Park
Caton Road
Lancaster
LA1 3SU
Bankers
TSB
PO Box 373
Leeds
LS14 9GQ
Willerby Management Limited
Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Willerby Management Limited
Year ended 28 February 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Willerby Management Limited for the year ended 28 February 2025, 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 Willerby Management Limited, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of Willerby Management 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 Willerby Management Limited and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that Willerby Management 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 profit of Willerby Management Limited. You consider that Willerby Management 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 Willerby Management 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.
Riverside Accountancy Lancaster Limited Chartered accountants
Suite 2, 2 Mannin Way Lancaster Business Park Caton Road Lancaster LA1 3SU
27 June 2025
Willerby Management Limited
Statement of Financial Position
28 February 2025
2025
2024
Note
£
£
Fixed assets
Tangible assets
5
498
1,457
Current assets
Debtors
6
9,600
9,600
Cash at bank and in hand
11,546
20,269
--------
--------
21,146
29,869
Creditors: amounts falling due within one year
7
11,689
8,984
--------
--------
Net current assets
9,457
20,885
-------
--------
Total assets less current liabilities
9,955
22,342
-------
--------
Net assets
9,955
22,342
-------
--------
Capital and reserves
Called up share capital
8
130
130
Share premium account
180
180
Profit and loss account
9,645
22,032
-------
--------
Shareholders funds
9,955
22,342
-------
--------
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 statement of comprehensive income has not been delivered.
For the year ending 28 February 2025 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 .
Willerby Management Limited
Statement of Financial Position (continued)
28 February 2025
These financial statements were approved by the board of directors and authorised for issue on 27 June 2025 , and are signed on behalf of the board by:
Mr J Murray
Director
Company registration number: 06793569
Willerby Management Limited
Notes to the Financial Statements
Year ended 28 February 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Suite 2, 2 Mannin Way, Lancaster Business Park, Caton Road, Lancaster, LA1 3SU.
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. The financial statements have been rounded to the nearest £1.
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, usually on despatch of the goods, 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. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Income tax
The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
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 and fittings
-
33% straight line
Impairment of fixed assets
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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a 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. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised .
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. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2024: 2 ).
5. Tangible assets
Fixtures and fittings
£
Cost
At 1 March 2024 and 28 February 2025
3,559
-------
Depreciation
At 1 March 2024
2,102
Charge for the year
959
-------
At 28 February 2025
3,061
-------
Carrying amount
At 28 February 2025
498
-------
At 29 February 2024
1,457
-------
6. Debtors
2025
2024
£
£
Trade debtors
9,600
9,600
-------
-------
7. Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
258
155
Social security and other taxes
9,949
7,347
Other creditors
1,482
1,482
--------
-------
11,689
8,984
--------
-------
8. Called up share capital
Authorised share capital
2025
2024
No.
£
No.
£
Ordinary A Shares shares of £ 1 each
8,000
8,000
8,000
8,000
Ordinary X Shares shares of £ 1 each
1,000
1,000
1,000
1,000
Ordinary Y Shares shares of £ 1 each
1,000
1,000
1,000
1,000
Ordinary Z Shares shares of £ 1 each
1,000
1,000
1,000
1,000
--------
--------
--------
--------
11,000
11,000
11,000
11,000
--------
--------
--------
--------
Issued, called up and fully paid
2025
2024
No.
£
No.
£
Ordinary A Shares shares of £ 1 each
100
100
100
100
Ordinary X Shares shares of £ 1 each
10
10
10
10
Ordinary Y Shares shares of £ 1 each
10
10
10
10
Ordinary Z Shares shares of £ 1 each
10
10
10
10
----
----
----
----
130
130
130
130
----
----
----
----
9. Related party transactions
As at the reporting date, balances totalling £9,600 (2024: £9,600) were owed by connected companies. As at the reporting date, balances totalling £52 (2024: £52) were owed to the key management personnel. During year, the company received management charges of £48,000 (2024: £48,000) from a connected company.
10. Controlling party
The company is controlled by Mrs D Murray, a director.