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REGISTERED NUMBER: 04328904 (England and Wales)










UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

WILLS & SMERDON LIMITED

WILLS & SMERDON LIMITED (REGISTERED NUMBER: 04328904)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WILLS & SMERDON LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTOR: J Harper





SECRETARY: Mrs D E Harper





REGISTERED OFFICE: Constable Court
62 Dene Street
Dorking
Surrey
RH4 2DP





REGISTERED NUMBER: 04328904 (England and Wales)





ACCOUNTANTS: Ellis Atkins, Chartered Accountants
Constable Court
62 Dene Street
Dorking
Surrey
RH4 2DP

WILLS & SMERDON LIMITED (REGISTERED NUMBER: 04328904)

BALANCE SHEET
31 DECEMBER 2024

31/12/24 31/12/23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 65,336 73,112
Investments 5 - 6,000
65,336 79,112

CURRENT ASSETS
Debtors 6 104,867 76,583
Cash at bank 88,321 17,042
193,188 93,625
CREDITORS
Amounts falling due within one year 7 241,370 206,915
NET CURRENT LIABILITIES (48,182 ) (113,290 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

17,154

(34,178

)

CREDITORS
Amounts falling due after more than one
year

8

24,467

38,817
NET LIABILITIES (7,313 ) (72,995 )

CAPITAL AND RESERVES
Called up share capital 9 1,000 1,000
Retained earnings (8,313 ) (73,995 )
SHAREHOLDERS' FUNDS (7,313 ) (72,995 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

WILLS & SMERDON LIMITED (REGISTERED NUMBER: 04328904)

BALANCE SHEET - continued
31 DECEMBER 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 July 2025 and were signed by:





J Harper - Director


WILLS & SMERDON LIMITED (REGISTERED NUMBER: 04328904)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1. STATUTORY INFORMATION

Wills & Smerdon Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The accounts have been prepared on a Going Concern basis as the director considers it appropriate to adopt this basis in preparing the Financial Statements. On review of the business the director has a reasonable expectation that the company will generate an income stream to support its continued operational existence. Within current liabilities are balances owed to the director, who has agreed not to recall them for the foreseeable future.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 20% on cost
Motor vehicles - 20% on cost
Computer equipment - straight line over 5 to 7 years

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

WILLS & SMERDON LIMITED (REGISTERED NUMBER: 04328904)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 13 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2024
and 31 December 2024 35,209 97,569 17,708 150,486
DEPRECIATION
At 1 January 2024 33,489 28,067 15,818 77,374
Charge for year 829 6,000 947 7,776
At 31 December 2024 34,318 34,067 16,765 85,150
NET BOOK VALUE
At 31 December 2024 891 63,502 943 65,336
At 31 December 2023 1,720 69,502 1,890 73,112



The Classic car which is included in motor vehicles above was being depreciated at 20% per annum based on a residual value of £40,000. As this vehicle had been depreciated to its estimated residual value in prior years, no depreciation has been provided in this accounting period. The other vehicle is being depreciated at a rate of 20% per annum on a straight line basis.





The net book value of tangible fixed assets includes £ 23,500 (2023 - £ 29,500 ) in respect of assets held under hire purchase contracts.

5. FIXED ASSET INVESTMENTS

WILLS & SMERDON LIMITED (REGISTERED NUMBER: 04328904)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024
Listed
shares
£   
At 1 January 2024 6,000
Repayment in year (6,000 )
At 31 December 2024 -

The company subscribed to the Agents Mutual Investor loan notes 2021. These were converted to 3,636 OnThe Market PLC Ordinary 0.2p shares (AIM) in February 2018. These shares are carried in the accounts at historical cost rather than fair value as any fluctuation in valuation is considered to be immaterial. The shares were sold in January 2024.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/24 31/12/23
£    £   
Trade debtors 9,160 7,592
Amounts owed by related undertakings 80,601 52,729
Other debtors 15,106 16,262
104,867 76,583

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/24 31/12/23
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 4,016 4,016
Trade creditors 6,211 8,149
Taxation and social security 33,101 22,752
Other creditors 188,042 161,998
241,370 206,915

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/12/24 31/12/23
£    £   
Bank loans 5,834 15,833
Hire purchase contracts 18,633 22,984
24,467 38,817

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/12/24 31/12/23
value: £    £   
1,000 Ordinary £1 1,000 1,000