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Registered number: 00402687









Willan Investments Limited









Directors' Report and Financial Statements

For the Year Ended 31 March 2025

 
Willan Investments Limited
 
 
Company Information


Directors
A Booth 
T Holmes 




Company secretary
A Booth



Registered number
00402687



Registered office
2 Brooklands Road
Sale

M33 3SS




Independent auditors
Hurst Accountants Limited
Chartered Accountants & Statutory Auditors

3 Stockport Exchange

Stockport

Cheshire

SK1 3GG





 
Willan Investments Limited
 

Contents



Page
Directors' Report
1 - 2
Independent Auditors' Report
3 - 6
Statement of Comprehensive Income
7
Balance Sheet
8 - 9
Statement of Changes in Equity
10 - 11
Notes to the Financial Statements
12 - 20


 
Willan Investments Limited
 
 
 
Directors' Report
For the Year Ended 31 March 2025

The directors present their report and the financial statements for the year ended 31 March 2025.

Principal activity

The Company's principal activity continues to be the letting of unfurnished domestic property amd commercial accomodation.

Directors

The directors who served during the year were:

A Booth 
T Holmes 

Directors' responsibilities statement

The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
 
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the directors are required to:


select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditors

Each of the persons who are directors at the time when this Directors' Report is approved has confirmed that:
 
so far as the director is aware, there is no relevant audit information of which the Company's auditors are unaware, and

the director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Page 1

 
Willan Investments Limited
 
 
 
Directors' Report (continued)
For the Year Ended 31 March 2025


Auditors

The auditorsHurst Accountants Limitedwill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

Small companies note

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 





A Booth
Director

Date: 3 July 2025

Page 2

 
Willan Investments Limited
 
 
 
Independent Auditors' Report to the Members of Willan Investments Limited
 

Opinion


We have audited the financial statements of Willan Investments Limited (the 'Company') for the year ended 31 March 2025, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the Company's affairs as at 31 March 2025 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern


In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Page 3

 
Willan Investments Limited
 
 
 
Independent Auditors' Report to the Members of Willan Investments Limited (continued)


Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Directors' Report has been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors' Report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of directors' remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit; or
the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Directors' Report and from the requirement to prepare a Strategic Report.


Responsibilities of directors
 

As explained more fully in the Directors' Responsibilities Statement set out on page 1, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Company or to cease operations, or have no realistic alternative but to do so.


Page 4

 
Willan Investments Limited
 
 
 
Independent Auditors' Report to the Members of Willan Investments Limited (continued)


Auditors' responsibilities for the audit of the financial statements
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Identifying and assessing potential risks related to irregularities
In identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:
 
The nature of the industry and sector in which the company operates; the control environment and business performance including key drivers for directors' remuneration, bonus levels and performance targets.
The outcome of enquiries of local management and parent company management, including whether management was aware of any instances of non-compliance with laws and regulations, and whether management had knowledge of any actual, suspected, or alleged fraud.
Supporting documentation relating to the Company's policies and procedures for:
°Identifying, evaluating, and complying with laws and regulations
°Detecting and responding to the risks of fraud
The internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations.
The outcome of discussions amongst the engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.
The legal and regulatory framework in which the Company operates, particularly those laws and regulations which have a direct effect on the financial statements, such as the Companies Act 2006, pensions and tax legislation, or which had a fundamental effect on the operations of the Company, including General Data Protection requirements, and Antibribery and Corruption.

Audit response to risks identified
Our procedures to respond to the risks identified included the following:
 
Reviewing the financial statements disclosures and testing to supporting documentation to assess compliance with the provisions of those relevant laws and regulations which have a direct effect on the financial statements.
Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulations and fraud.
Evaluation of the operating effectiveness of management’s controls designed to prevent and detect irregularities.
Enquiring of management about any actual and potential litigation and claims.
Performing analytical procedures to identify any unusual or unexpected relationships which may indicate risks of material misstatement due to fraud.
Page 5

 
Willan Investments Limited
 
 
 
Independent Auditors' Report to the Members of Willan Investments Limited (continued)


We have also considered the risk of fraud through management override of controls by:
 
Testing the appropriateness of journal entries and other adjustments. We have used data analytics software to identify accounting transactions which may pose a heightened risk of material misstatement, whether due to fraud or error.
Challenging assumptions made by management in their significant accounting estimates, and assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and
Evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
There are inherent limitations in the audit procedures described above, and the further removed non-compliance with laws and regulations are from the events and transactions reflected in the financial statements, the less likely we would become aware of them. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.


Use of our report
 

This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.





Chris Stewardson (Senior Statutory Auditor)
for and on behalf of
Hurst Accountants Limited
Chartered Accountants & Statutory Auditors
3 Stockport Exchange
Stockport
Cheshire
SK1 3GG

3 July 2025
Page 6

 
Willan Investments Limited
 
 
Statement of Comprehensive Income
For the Year Ended 31 March 2025

2025
2024
Note
£
£

  

Turnover
  
1,807,893
1,634,987

Cost of sales
  
(588,460)
(479,831)

Gross profit
  
1,219,433
1,155,156

Administrative expenses
  
(801,005)
(745,020)

Fair value movements
  
1,404,500
(1,440,166)

Operating profit/(loss)
  
1,822,928
(1,030,030)

Profit on disposal of ground rents
  
495
19,327

Interest receivable and similar income
  
27,384
41,334

Interest payable and similar expenses
  
(29,303)
(241,486)

Profit/(loss) before tax
  
1,821,504
(1,210,855)

Tax on profit/(loss)
 4 
(459,476)
351,549

Profit/(loss) for the financial year
  
1,362,028
(859,306)

The notes on pages 12 to 20 form part of these financial statements.

Page 7

 
Willan Investments Limited
Registered number: 00402687

Balance Sheet
As at 31 March 2025

2025
2024
Note
£
£

Fixed assets
  

Tangible assets
 5 
180
805

Investment property
 6 
25,519,999
24,115,499

  
25,520,179
24,116,304

Current assets
  

Debtors: amounts falling due within one year
 7 
334,144
559,542

Cash at bank and in hand
 8 
1,080,508
835,400

  
1,414,652
1,394,942

Creditors: amounts falling due within one year
 9 
(6,203,269)
(5,924,141)

Net current liabilities
  
 
 
(4,788,617)
 
 
(4,529,199)

Total assets less current liabilities
  
20,731,562
19,587,105

Creditors: amounts falling due after more than one year
 10 
-
(525,000)

Provisions for liabilities
  

Deferred tax
 12 
(1,897,884)
(1,542,003)

  
 
 
(1,897,884)
 
 
(1,542,003)

Net assets
  
18,833,678
17,520,102


Capital and reserves
  

Called up share capital 
  
14,778
14,778

Revaluation reserve
 13 
7,706,820
6,302,320

Capital redemption reserve
 13 
222
222

Merger reserve
 13 
35,000
35,000

Profit and loss account
 13 
11,076,858
11,167,782

  
18,833,678
17,520,102


The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




A Booth
Director

Date: 3 July 2025

The notes on pages 12 to 20 form part of these financial statements.
Page 8

 
Willan Investments Limited
Registered number: 00402687
    
Balance Sheet (continued)
As at 31 March 2025


Page 9

 
Willan Investments Limited
 

Statement of Changes in Equity
For the Year Ended 31 March 2025


Called up share capital
Capital redemption reserve
Revaluation reserve
Merger reserve
Profit and loss account
Total equity

£
£
£
£
£
£

At 1 April 2024
14,778
222
6,302,320
35,000
11,167,782
17,520,102


Comprehensive income for the year

Profit for the year
-
-
-
-
1,362,028
1,362,028

Surplus on revaluation of other fixed assets
-
-
1,404,500
-
(1,404,500)
-
Total comprehensive income for the year
-
-
1,404,500
-
(42,472)
1,362,028


Contributions by and distributions to owners

Dividends: Equity capital
-
-
-
-
(48,452)
(48,452)


Total transactions with owners
-
-
-
-
(48,452)
(48,452)


At 31 March 2025
14,778
222
7,706,820
35,000
11,076,858
18,833,678


The notes on pages 12 to 20 form part of these financial statements.

Page 10

 
Willan Investments Limited
 

Statement of Changes in Equity
For the Year Ended 31 March 2024


Called up share capital
Capital redemption reserve
Revaluation reserve
Merger reserve
Profit and loss account
Total equity

£
£
£
£
£
£

At 1 April 2023
14,778
222
7,355,017
35,000
11,023,205
18,428,222


Comprehensive income for the year

Loss for the year
-
-
-
-
(859,306)
(859,306)

Surplus on revaluation of other fixed assets
-
-
(1,052,697)
-
1,052,697
-
Total comprehensive income for the year
-
-
(1,052,697)
-
193,391
(859,306)


Contributions by and distributions to owners

Dividends: Equity capital
-
-
-
-
(48,814)
(48,814)


Total transactions with owners
-
-
-
-
(48,814)
(48,814)


At 31 March 2024
14,778
222
6,302,320
35,000
11,167,782
17,520,102


The notes on pages 12 to 20 form part of these financial statements.

Page 11

 
Willan Investments Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 31 March 2025

1.


General information

Willan Investments Limited ('the company') is a private company limited by shares and is incorporated and domiciled in England. The address of its registered office is 2 Brooklands Road, Sale, Cheshire M33 3SS

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Revenue

Turnover shown in the profit and loss accounts represents rent receivable during the year, exclusive of VAT. Rental income is recognised in the period to which it relates, taking into account any provision for lease incentives.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. 

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

Page 12

 
Willan Investments Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 31 March 2025

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
Straight line
Office equipment
-
25%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 13

 
Willan Investments Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 31 March 2025

2.Accounting policies (continued)

 
2.8

Investment property

Investment property is carried at fair value determined annually by external valuers and the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.9

Valuation of investments

Ground rents are stated at their open market value.

 
2.10

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.11

Cash

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.12

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 14

 
Willan Investments Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 31 March 2025

2.Accounting policies (continued)

 
2.14

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable.
 
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.
 
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.
 
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
 
Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.15

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 10 (2024 - 11).

Page 15

 
Willan Investments Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 31 March 2025

4.


Taxation


2025
2024
£
£

Corporation tax


Current tax on profits for the year
103,595
47,955

Adjustments in respect of previous periods
-
(12,451)


103,595
35,504


Total current tax
103,595
35,504

Deferred tax


Origination and reversal of timing differences
-
416

Adjustments in respect of prior periods
4,756
(27,427)

Revaluation movements
351,125
(360,042)

Total deferred tax
355,881
(387,053)


Tax on profit/(loss)
459,476
(351,549)

Factors affecting tax charge for the year

The tax assessed for the year is higher than (2024 - higher than) the standard rate of corporation tax in the UK of 25% (2024 - 25   %). The differences are explained below:

2025
2024
£
£


Profit/(loss) on ordinary activities before tax
1,821,504
(1,210,855)


Profit/(loss) on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2024 - 25   %)
455,376
(302,714)

Effects of:


Expenses not deductible for tax purposes
-
221

Adjustments relating to prior periods deferred tax
4,756
(27,427)

Adjustments relating to prior periods corporation tax
-
(12,451)

Short-term timing difference leading to an increase (decrease) in taxation
(656)
(9,178)

Total tax charge for the year
459,476
(351,549)


Factors that may affect future tax charges

There are currently no known factors that may affect future tax charges

Page 16

 
Willan Investments Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 31 March 2025

5.


Tangible fixed assets





Plant and machinery
Office equipment
Total

£
£
£



Cost


At 1 April 2024
2,910
5,740
8,650



At 31 March 2025

2,910
5,740
8,650



Depreciation


At 1 April 2024
2,719
5,126
7,845


Charge for the year
11
614
625



At 31 March 2025

2,730
5,740
8,470



Net book value



At 31 March 2025
180
-
180



At 31 March 2024
191
614
805

Page 17

 
Willan Investments Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 31 March 2025

6.


Investment property


Freehold investment property

£



Valuation


At 1 April 2024
24,115,499


Revaluation
1,404,500



At 31 March 2025
25,519,999

Investment properties are held on the balance sheet at their open market value. Of the opening valuation as at 1 April 2024 of £24,115,499, £2,890,000 was professionally valued by Jones Lang LaSalle Limited, Chartered Surveyors, and £21,225,499 was reviewed by the directors of the Company.
Of the closing valuation as at 31 March 2025 of £25,519,999, £14,240,000 was professionally valued by Jones Lang LaSalle Limited, Chartered Surveyors, and £11,279,999 was reviewed by the directors of the Company and deemed to be an accurate indication of value as at 31 March 2025.
The historical cost of this property is £16,263,230  (
2024: £16,263,230).







7.


Debtors

2025
2024
£
£


Trade debtors
287,453
443,479

Other debtors
-
42,077

Prepayments
46,691
73,986

334,144
559,542



8.


Cash

2025
2024
£
£

Cash at bank and in hand
1,080,508
835,400


Page 18

 
Willan Investments Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 31 March 2025

9.


Creditors: Amounts falling due within one year

2025
2024
£
£

Other loans (see note 10)
-
60,000

Refundable tenant deposits
281,457
269,536

Trade creditors
19,261
44,982

Amounts owed to group undertakings
4,335,677
4,258,794

Corporation tax
103,595
47,955

Other taxation and social security
73,953
71,410

Other creditors
243,915
219,537

Accruals and deferred income
1,145,411
951,927

6,203,269
5,924,141


Amount owed to group companies are unsecured, repayable on demand and previously accrued interest at 1.12% over base rate. A policy change took place during the year to no longer accrue interest on intercompany loans. 


10.


Creditors: Amounts falling due after more than one year

2025
2024
£
£

Other loans
-
525,000


The other loan was provided by a related party at a fixed rate of 6.75% and was repaid in full January 2025.


11.


Loans


Analysis of the maturity of loans is given below:


2025
2024
£
£

Amounts falling due within one year

Other loans
-
60,000

Amounts falling due 1-2 years

Other loans
-
60,000

Amounts falling due 2-5 years

Other loans
-
180,000

Amounts falling due after more than 5 years

Other loans
-
285,000

-
585,000


Page 19

 
Willan Investments Limited
 
 
 
Notes to the Financial Statements
For the Year Ended 31 March 2025

12.


Deferred taxation




2025
2024


£

£






At beginning of year
(1,542,003)
(1,929,056)


Charged to profit or loss
(355,881)
387,053



At end of year
(1,897,884)
(1,542,003)

The provision for deferred taxation is made up as follows:

2025
2024
£
£


Deferred tax on revaluation of property
(1,897,884)
(1,545,694)

Other short term timing differences
-
3,691

(1,897,884)
(1,542,003)


13.


Reserves

Revaluation reserve

Revaluation reserve is non-distributable reserve in relation to revaluations of investment property net of the
associated deferred tax arising.

Capital redemption reserve

The capital redemption reserve records the nominal value of shares repurchased by the company.

Merger Reserve

The balance on the merger reserve represents the fair value of the consideration given in excess of the nominal value
of the ordinary shares issued in an acquisition made by the issue of shares.

Profit and loss account

The profit and loss account includes all current and prior period retained profits and losses.


14.


Controlling party

The Company’s immediate parent undertaking is Willan UK Limited, which is registered in England. The Company’s ultimate parent undertaking is Willan Group Limited, which is registered in England.
The Company’s ultimate controlling party is L E Willan.

Page 20