D H Willacy & Son Limited 31/12/2024 iXBRL

Company registration number: 03692368

D H Willacy & Son Limited

Unaudited filleted financial statements

For the year ended

31 December 2024

D H Willacy & Son Limited

Contents

Statement of financial position

Notes to the financial statements

D H Willacy & Son Limited

Statement of financial position

31 December 2024

		2024		2023
	Note	£	£	£	£

Fixed assets
Intangible assets	3	-		-
Tangible assets	4	207,002		180,003
Investment property		472,480		472,480
		________		________
			679,482		652,483

Current assets
Stocks		279,225		272,372
Debtors	5	159,550		172,528
Cash at bank and in hand		86,830		843
		________		________
		525,605		445,743
Creditors: amounts falling due
within one year	6	( 323,482)		( 371,722)
		________		________
Net current assets			202,123		74,021
			________		________
Total assets less current liabilities			881,605		726,504

Creditors: amounts falling due
after more than one year	7		( 79,612)		( 80,255)

Provisions for liabilities			( 17,277)		( 12,147)

			________		________
Net assets			784,716		634,102
			________		________

Capital and reserves
Called up share capital			5,000		5,000
Capital redemption reserve			5,000		5,000
Profit and loss account			774,716		624,102
			________		________
Shareholders funds			784,716		634,102
			________		________

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 30 September 2025 , and are signed on behalf of the board by:

Mr M E Willacy

Director

Company registration number: 03692368

D H Willacy & Son Limited

Notes to the financial statements

Year ended 31 December 2024

1. Accounting policies

General information

The company is a private company limited by shares, registered in England and Wales, registration number 03692368 . The address of the registered office is West View, Levens, Kendal, LA8 8PN.

Basis of preparation

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied with the same financial statements.

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. It includes the relevant proportion of contract values where work is partially performed in the period.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.

Deferred taxation

Deferred taxation is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for fixed asset investments which are measured at fair value, with changes recognised in the fair value reserve.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.

2. Employee numbers

The average number of persons employed by the company during the year amounted to Nil (2023: 7 ).

3. Intangible assets

	Goodwill	Total
	£	£
Cost
At 1 January 2024 and 31 December 2024	14,702	14,702
	________	________
Amortisation
At 1 January 2024 and 31 December 2024	14,702	14,702
	________	________
Carrying amount
At 31 December 2024	-	-
	________	________
At 31 December 2023	-	-
	________	________

4. Tangible assets

	Freehold property	Plant and machinery	Fixtures, fittings and equipment	Motor vehicles	Total
	£	£	£	£	£
Cost
At 1 January 2024	116,073	95,133	54,601	153,139	418,946
Additions	-	-	5,781	83,698	89,479
Disposals	-	-	-	( 48,990)	( 48,990)
	________	________	________	________	________
At 31 December 2024	116,073	95,133	60,382	187,847	459,435
	________	________	________	________	________
Depreciation
At 1 January 2024	-	88,250	48,882	101,811	238,943
Charge for the year	-	1,721	2,875	25,713	30,309
Disposals	-	-	-	( 16,819)	( 16,819)
	________	________	________	________	________
At 31 December 2024	-	89,971	51,757	110,705	252,433
	________	________	________	________	________
Carrying amount
At 31 December 2024	116,073	5,162	8,625	77,142	207,002
	________	________	________	________	________
At 31 December 2023	116,073	6,883	5,719	51,328	180,003
	________	________	________	________	________

5. Debtors

	2024	2023
	£	£
Trade debtors	141,050	160,063
Other debtors	18,500	12,465
	________	________
	159,550	172,528
	________	________

6. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	-	128,945
Trade creditors	38,387	25,869
Corporation tax	51,995	-
Taxation and social security	63,263	47,611
Directors loan account	100,381	93,823
Other creditors	69,456	75,474
	________	________
	323,482	371,722
	________	________

7. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	62,067	69,214
Other creditors	17,545	11,041
	________	________
	79,612	80,255
	________	________