REGISTERED NUMBER: 09515993 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

WILLPOWER SOUTH WEST LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M P Matthews

REGISTERED OFFICE:

Moonsbrook House

Moonsbrook

Oakhill

Radstock

BA3 5BL

REGISTERED NUMBER:

09515993 (England and Wales)

ACCOUNTANTS:

Burnside

Chartered Accountants

61 Queen Square

Bristol

BS1 4JZ

FIXED ASSETS

Tangible assets

4

345,136

946,014

CURRENT ASSETS

Debtors

5

38,738

65,693

Cash at bank

64,232

10,475

102,970

76,168

CREDITORS

Amounts falling due within one year

6

763,423

1,443,808

NET CURRENT LIABILITIES

(660,453

)

(1,367,640

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(315,317

)

(421,626

)

CREDITORS

Amounts falling due after more than one year

7

161,603

272,216

NET LIABILITIES

(476,920

)

(693,842

)

CAPITAL AND RESERVES

Called up share capital

9

1

1

Retained earnings

(476,921

)

(693,843

)

SHAREHOLDERS' FUNDS

(476,920

)

(693,842

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 18 September 2025 and were signed by:

M P Matthews - Director

1.	STATUTORY INFORMATION

Willpower South West 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 presentation currency of the financial statements is the Pound Sterling (£).

Turnover

Turnover represents net invoiced sales of services provided during the year, excluding value added tax.

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

-

25% on cost

Motor vehicles

-

7.5% on cost

Financial instruments

Financial assets and liabilities are recognised in the balance sheet when the company becomes party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and are measured on initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company may not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of any direct issue costs.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

Going concern

The director has considered the company's ability to continue as a going concern for at least 12 months from the date of signing of these financial statements and has concluded that he considers the company to be a going concern. This assessment is based on the director's intention to continue to provide any financial support necessary for the foreseeable future. The director therefore continues to adopt the going concern basis of accounting in preparing these financial statements.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 April 2023

4,262

1,444,754

1,449,016

Additions

-

130,667

130,667

Disposals

(4,262

)

(1,152,794

)

(1,157,056

)

At 31 March 2024

-

422,627

422,627

DEPRECIATION

At 1 April 2023

4,262

498,740

503,002

Charge for year

-

42,443

42,443

Eliminated on disposal

(4,262

)

(463,692

)

(467,954

)

At 31 March 2024

-

77,491

77,491

NET BOOK VALUE

At 31 March 2024

-

345,136

345,136

At 31 March 2023

-

946,014

946,014

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 April 2023

1,025,000

Disposals

(1,025,000

)

At 31 March 2024

-

DEPRECIATION

At 1 April 2023

448,438

Eliminated on disposal

(448,438

)

At 31 March 2024

-

NET BOOK VALUE

At 31 March 2024

-

At 31 March 2023

576,562

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

31,600

-

Prepayments and accrued income

7,138

65,693

38,738

65,693

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Other loans

9,525

14,958

Hire purchase contracts

-

31,438

Trade creditors

976

24,076

VAT

9,881

1,505

Other creditors

432,750

1,231,698

Director's loan account

183,391

133,233

Accruals and deferred income

126,900

6,900

763,423

1,443,808

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Other loans - 1-2 years

10,648

16,151

Other loans - 2-5 years

150,955

56,604

Other loans in over 5yrs

-

91,179

Hire purchase contracts

-

108,282

161,603

272,216

Amounts falling due in more than five years:

Repayable by instalments

Other loans in over 5yrs

-

91,179

8.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Hire purchase contracts

-

139,720

Other loans

171,128

178,892

171,128

318,612

The hire purchase contracts were secured on the fixed assets to which they related. The Other loan is secured on other fixed assets currently carried at a net book value of £236,119 (2023 - £258,255).

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

1

Ordinary

£1

1

1

10.	RELATED PARTY DISCLOSURES

The company is controlled by M P Matthews, the director, by virtue of his shareholding in the company.

At 31 March 2024 a total of £183,391 (2023 - £133,233) was owed to the director by the company. No interest is being charged in relation to this amount.

Funds totalling £10,684 (2023 - £9,519) were advanced to Willpower South West Limited during the year by Electrical & Mechanical Solutions Limited, a related party by virtue of the director's equity interest in that company. Funds of £559,082 (2023 - £Nil) were repaid to Electrical & Mechanical Solutions Limited during the year. At 31 March 2024 an amount of £432,750 (2022 - £981,148) was owed to Electrical & Mechanical Solutions Limited.

At 31 March 2024 the company owed £Nil (2023 - £250,550) to Northavon Group Limited, a company related by virtue of the director's equity interest in that company. The company was released from the obligation to repay the remaining loan of £216,050 in the year, following a formal Deed of Release by Northavon Group Limited. No interest was charged on the loan during this or the previous year.During the year, the company provided management consultancy services to Northavon Group Limited totalling £55,117 (2023 - £50,000).