| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 DECEMBER 2024 |
| FOR |
| WILLS & SMERDON LIMITED |
| REGISTERED NUMBER: |
| 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: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| 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 |
| Investments | 5 |
| CURRENT ASSETS |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| 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 were approved by the director and authorised for issue on |
| 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 |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 |
| Fixtures and fittings | - |
| Motor vehicles | - |
| Computer equipment | - |
| 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 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and | Motor | Computer |
| fittings | vehicles | equipment | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 January 2024 |
| and 31 December 2024 |
| DEPRECIATION |
| At 1 January 2024 |
| Charge for year |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| 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 |
| Repayment in year | ( |
) |
| 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 |
| Amounts owed by related undertakings |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/12/24 | 31/12/23 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31/12/24 | 31/12/23 |
| £ | £ |
| Bank loans |
| Hire purchase contracts |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31/12/24 | 31/12/23 |
| value: | £ | £ |
| Ordinary | £1 | 1,000 | 1,000 |