Silverfin false false 31/03/2025 01/04/2024 31/03/2025 Mr S Staple 06/07/1999 Mr L C Wills 06/07/1999 22 August 2025 The principal activity of the Company during the financial year was construction work. 03801090 2025-03-31 03801090 bus:Director1 2025-03-31 03801090 bus:Director2 2025-03-31 03801090 2024-03-31 03801090 core:CurrentFinancialInstruments 2025-03-31 03801090 core:CurrentFinancialInstruments 2024-03-31 03801090 core:ShareCapital 2025-03-31 03801090 core:ShareCapital 2024-03-31 03801090 core:RetainedEarningsAccumulatedLosses 2025-03-31 03801090 core:RetainedEarningsAccumulatedLosses 2024-03-31 03801090 core:PlantMachinery 2024-03-31 03801090 core:Vehicles 2024-03-31 03801090 core:OfficeEquipment 2024-03-31 03801090 core:ComputerEquipment 2024-03-31 03801090 core:PlantMachinery 2025-03-31 03801090 core:Vehicles 2025-03-31 03801090 core:OfficeEquipment 2025-03-31 03801090 core:ComputerEquipment 2025-03-31 03801090 core:ImmediateParent core:CurrentFinancialInstruments 2025-03-31 03801090 core:ImmediateParent core:CurrentFinancialInstruments 2024-03-31 03801090 core:DeferredTaxation 2025-03-31 03801090 core:DeferredTaxation 2024-03-31 03801090 core:OtherProvisionsContingentLiabilities 2025-03-31 03801090 core:OtherProvisionsContingentLiabilities 2024-03-31 03801090 2024-04-01 2025-03-31 03801090 bus:FilletedAccounts 2024-04-01 2025-03-31 03801090 bus:SmallEntities 2024-04-01 2025-03-31 03801090 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 03801090 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 03801090 bus:Director1 2024-04-01 2025-03-31 03801090 bus:Director2 2024-04-01 2025-03-31 03801090 core:PlantMachinery 2024-04-01 2025-03-31 03801090 core:Vehicles 2024-04-01 2025-03-31 03801090 core:OfficeEquipment 2024-04-01 2025-03-31 03801090 core:ComputerEquipment core:TopRangeValue 2024-04-01 2025-03-31 03801090 2023-04-01 2024-03-31 03801090 core:ComputerEquipment 2024-04-01 2025-03-31 iso4217:GBP xbrli:pure

Company No: 03801090 (England and Wales)

L C WILLS CONTRACTS LIMITED

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

L C WILLS CONTRACTS LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

L C WILLS CONTRACTS LIMITED

BALANCE SHEET

As at 31 March 2025
L C WILLS CONTRACTS LIMITED

BALANCE SHEET (continued)

As at 31 March 2025
Note 2025 2024
£ £
Fixed assets
Tangible assets 3 128,066 161,270
128,066 161,270
Current assets
Stocks 4 96,555 95,588
Debtors 5 504,864 485,670
Cash at bank and in hand 182,943 128,800
784,362 710,058
Creditors: amounts falling due within one year 6 ( 248,693) ( 171,988)
Net current assets 535,669 538,070
Total assets less current liabilities 663,735 699,340
Provision for liabilities 7 ( 73,309) ( 75,599)
Net assets 590,426 623,741
Capital and reserves
Called-up share capital 10 10
Profit and loss account 590,416 623,731
Total shareholder's funds 590,426 623,741

For the financial year ending 31 March 2025 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 L C Wills Contracts Limited (registered number: 03801090) were approved and authorised for issue by the Board of Directors on 22 August 2025. They were signed on its behalf by:

Mr L C Wills
Director
L C WILLS CONTRACTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
L C WILLS CONTRACTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 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

L C Wills Contracts 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 Leanne House, 6 Avon Close, Weymouth, DT4 9UX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include 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 £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services, and is shown net of VAT and other sales related taxes.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Profit and Loss Account in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

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. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 15 % reducing balance
Vehicles 25 % reducing balance
Office equipment 25 % reducing balance
Computer equipment 5 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.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2025 2024
Number Number
Monthly average number of persons employed by the Company during the year, including directors 13 16

3. Tangible assets

Plant and machinery Vehicles Office equipment Computer equipment Total
£ £ £ £ £
Cost
At 01 April 2024 185,808 141,329 2,063 2,997 332,197
Additions 0 0 0 1,416 1,416
Disposals ( 16,013) ( 2,166) ( 666) 0 ( 18,845)
At 31 March 2025 169,795 139,163 1,397 4,413 314,768
Accumulated depreciation
At 01 April 2024 60,989 107,908 1,131 899 170,927
Charge for the financial year 18,723 8,355 233 717 28,028
Disposals ( 9,580) ( 2,044) ( 629) 0 ( 12,253)
At 31 March 2025 70,132 114,219 735 1,616 186,702
Net book value
At 31 March 2025 99,663 24,944 662 2,797 128,066
At 31 March 2024 124,819 33,421 932 2,098 161,270

4. Stocks

2025 2024
£ £
Work in progress 96,555 95,588

5. Debtors

2025 2024
£ £
Trade debtors 405,957 309,579
Amounts owed by Parent undertakings 11,365 71,263
Other debtors 87,542 104,828
504,864 485,670

6. Creditors: amounts falling due within one year

2025 2024
£ £
Trade creditors 28,679 40,589
Taxation and social security 213,635 126,470
Other creditors 6,379 4,929
248,693 171,988

7. Provision for liabilities

2025 2024
£ £
Deferred tax 31,836 40,199
Other provisions 41,473 35,400
73,309 75,599