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Company No: 06300024 (England and Wales)

WILLS MARINE HOLDINGS LIMITED

Unaudited Financial Statements
For the financial year ended 31 October 2024
Pages for filing with the registrar

WILLS MARINE HOLDINGS LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2024

Contents

WILLS MARINE HOLDINGS LIMITED

BALANCE SHEET

As at 31 October 2024
WILLS MARINE HOLDINGS LIMITED

BALANCE SHEET (continued)

As at 31 October 2024
Note 2024 2023
£ £
Fixed assets
Investment property 3 227,683 227,683
Investments 4 289,440 289,440
517,123 517,123
Current assets
Debtors 5 160,760 160,760
160,760 160,760
Creditors: amounts falling due within one year 6 ( 473,883) ( 473,883)
Net current liabilities (313,123) (313,123)
Total assets less current liabilities 204,000 204,000
Net assets 204,000 204,000
Capital and reserves
Called-up share capital 7 107,000 107,000
Capital redemption reserve 97,000 97,000
Total shareholders' funds 204,000 204,000

For the financial year ending 31 October 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Wills Marine Holdings Limited (registered number: 06300024) were approved and authorised for issue by the Board of Directors on 24 July 2025. They were signed on its behalf by:

Mr M J Wills
Director
WILLS MARINE HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
WILLS MARINE HOLDINGS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Wills Marine Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Little Highlands, Blachford Road, Ivybridge, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption in section 399 of the Companies Act 2006 not to prepare consolidated accounts, because the group it heads qualifies as small. The financial statements present information about the Company as an individual entity only.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Profit and Loss Account. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 0 0

3. Investment property

Investment property
£
Valuation
As at 01 November 2023 227,683
As at 31 October 2024 227,683

Valuation

The directors have assessed the property as at the end of the financial year and concluded that the carrying value reflects an accurate market value.

4. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 November 2023 289,440
At 31 October 2024 289,440
Carrying value at 31 October 2024 289,440
Carrying value at 31 October 2023 289,440

5. Debtors

2024 2023
£ £
Amounts owed by Group undertakings 160,760 160,760

6. Creditors: amounts falling due within one year

2024 2023
£ £
Other creditors 473,883 473,883

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
57,000 Ordinary shares of £ 1.00 each 57,000 57,000
23,750 Ordinary A shares of £ 1.00 each 23,750 23,750
26,250 Ordinary B shares of £ 1.00 each 26,250 26,250
107,000 107,000
63,500 Redeemable preference shares shares of £ 1.00 each 63,500 63,500
170,500 170,500