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Company No: 09624409 (England and Wales)

WILL MANAGEMENT SERVICES LTD

Unaudited Financial Statements
For the financial year ended 31 January 2025
Pages for filing with the registrar

WILL MANAGEMENT SERVICES LTD

Unaudited Financial Statements

For the financial year ended 31 January 2025

Contents

WILL MANAGEMENT SERVICES LTD

BALANCE SHEET

As at 31 January 2025
WILL MANAGEMENT SERVICES LTD

BALANCE SHEET (continued)

As at 31 January 2025
Note 2025 2024
£ £
Fixed assets
Tangible assets 3 3,315 4,159
3,315 4,159
Current assets
Debtors 4 146,167 98,662
Cash at bank and in hand 36,230 21,190
182,397 119,852
Creditors: amounts falling due within one year 5 ( 27,238) ( 24,524)
Net current assets 155,159 95,328
Total assets less current liabilities 158,474 99,487
Net assets 158,474 99,487
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account 158,374 99,387
Total shareholder's funds 158,474 99,487

For the financial year ending 31 January 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Will Management Services Ltd (registered number: 09624409) were approved and authorised for issue by the Director on 22 July 2025. They were signed on its behalf by:

Mr M C Duncan
Director
WILL MANAGEMENT SERVICES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2025
WILL MANAGEMENT SERVICES LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2025
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

Will Management Services Ltd (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 12 Hammet Street, Taunton, TA1 1RZ, United Kingdom.

The financial statements have been prepared under the historical cost convention 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 £.

Turnover

Turnover is stated net of VAT and is recognised when the significant risks and rewards are considered to have been transferred to the customer. Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line/ reducing balance basis over its expected useful life, as follows:

Fixtures and fittings 20 % reducing balance
Office equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

2. Employees

2025 2024
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 1

3. Tangible assets

Fixtures and fittings Office equipment Total
£ £ £
Cost
At 01 February 2024 15,801 9,358 25,159
Additions 360 0 360
Disposals ( 410) ( 2,336) ( 2,746)
At 31 January 2025 15,751 7,022 22,773
Accumulated depreciation
At 01 February 2024 11,688 9,312 21,000
Charge for the financial year 841 46 887
Disposals ( 93) ( 2,336) ( 2,429)
At 31 January 2025 12,436 7,022 19,458
Net book value
At 31 January 2025 3,315 0 3,315
At 31 January 2024 4,113 46 4,159

4. Debtors

2025 2024
£ £
Trade debtors 100 2,595
Amounts owed by Group undertakings 146,067 96,067
146,167 98,662

5. Creditors: amounts falling due within one year

2025 2024
£ £
Trade creditors 176 143
Accruals 2,220 1,851
Taxation and social security 24,842 22,238
Other creditors 0 292
27,238 24,524

6. Called-up share capital

2025 2024
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

7. Financial commitments

Other financial commitments

The total amount of guarantees not included in the Balance Sheet is £489,972 (2024: £685,961). The company has entered into a cross-guarantee with ISWIFA Holdings Limited (its ultimate parent company) to guarantee amounts outstanding to the company's bankers. This guarantee is secured on the company's assets.