Acorah Software Products - Accounts Production 16.5.460 false true 31 March 2024 1 April 2023 false 1 April 2024 31 March 2025 31 March 2025 08179561 Mr Andrew Willett Mrs Rachal Willett Mr Matthew Sweed iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 08179561 2024-03-31 08179561 2025-03-31 08179561 2024-04-01 2025-03-31 08179561 frs-core:CurrentFinancialInstruments 2025-03-31 08179561 frs-core:Non-currentFinancialInstruments 2025-03-31 08179561 frs-core:ComputerEquipment 2025-03-31 08179561 frs-core:ComputerEquipment 2024-04-01 2025-03-31 08179561 frs-core:ComputerEquipment 2024-03-31 08179561 frs-core:FurnitureFittings 2025-03-31 08179561 frs-core:FurnitureFittings 2024-04-01 2025-03-31 08179561 frs-core:FurnitureFittings 2024-03-31 08179561 frs-core:InvestmentPropertyIncludedWithinPPE 2025-03-31 08179561 frs-core:InvestmentPropertyIncludedWithinPPE 2024-04-01 2025-03-31 08179561 frs-core:InvestmentPropertyIncludedWithinPPE 2024-03-31 08179561 frs-core:MotorVehicles 2025-03-31 08179561 frs-core:MotorVehicles 2024-04-01 2025-03-31 08179561 frs-core:MotorVehicles 2024-03-31 08179561 frs-core:PlantMachinery 2025-03-31 08179561 frs-core:PlantMachinery 2024-04-01 2025-03-31 08179561 frs-core:PlantMachinery 2024-03-31 08179561 frs-core:ShareCapital 2025-03-31 08179561 frs-core:RetainedEarningsAccumulatedLosses 2025-03-31 08179561 frs-bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 08179561 frs-bus:FilletedAccounts 2024-04-01 2025-03-31 08179561 frs-bus:SmallEntities 2024-04-01 2025-03-31 08179561 frs-bus:AuditExempt-NoAccountantsReport 2024-04-01 2025-03-31 08179561 frs-bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 08179561 frs-bus:Director1 2024-04-01 2025-03-31 08179561 frs-bus:Director2 2024-04-01 2025-03-31 08179561 frs-bus:Director3 2024-04-01 2025-03-31 08179561 frs-countries:EnglandWales 2024-04-01 2025-03-31 08179561 2023-03-31 08179561 2024-03-31 08179561 2023-04-01 2024-03-31 08179561 frs-core:CurrentFinancialInstruments 2024-03-31 08179561 frs-core:Non-currentFinancialInstruments 2024-03-31 08179561 frs-core:ShareCapital 2024-03-31 08179561 frs-core:RetainedEarningsAccumulatedLosses 2024-03-31
Registered number: 08179561
Willett Marine Limited
Unaudited Financial Statements
For The Year Ended 31 March 2025
Approved Accounting Limited
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 08179561
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 47,755 35,271
47,755 35,271
CURRENT ASSETS
Debtors 5 72,842 59,641
Cash at bank and in hand 51,204 105,840
124,046 165,481
Creditors: Amounts Falling Due Within One Year 6 (108,289 ) (93,412 )
NET CURRENT ASSETS (LIABILITIES) 15,757 72,069
TOTAL ASSETS LESS CURRENT LIABILITIES 63,512 107,340
Creditors: Amounts Falling Due After More Than One Year 7 (4,160 ) (7,629 )
PROVISIONS FOR LIABILITIES
Provisions For Charges (7,413 ) (7,413 )
NET ASSETS 51,939 92,298
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 51,839 92,198
SHAREHOLDERS' FUNDS 51,939 92,298
Page 1
Page 2
For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Rachal Willett
Director
28/10/2025
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Willett Marine Limited is a private company, limited by shares, incorporated in England & Wales, registered number 08179561 . The registered office is 36 Fifth Avenue, Havant, Hampshire, PO9 2PL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery Straight Line - 20%
Motor Vehicles Straight Line - 20%
Fixtures & Fittings Straight Line - 25%
Computer Equipment Straight Line - 20%
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 17 (2024: 10)
17 10
Page 3
Page 4
4. Tangible Assets
Low Value Assets Plant & Machinery Motor Vehicles Fixtures & Fittings
£ £ £ £
Cost
As at 1 April 2024 21,864 61,719 7,300 3,161
Additions - 13,251 9,995 -
Disposals - (960 ) - -
As at 31 March 2025 21,864 74,010 17,295 3,161
Depreciation
As at 1 April 2024 1,602 52,223 5,475 2,117
Provided during the period 2,186 2,967 3,747 388
Disposals - (81 ) - -
As at 31 March 2025 3,788 55,109 9,222 2,505
Net Book Value
As at 31 March 2025 18,076 18,901 8,073 656
As at 1 April 2024 20,262 9,496 1,825 1,044
Computer Equipment Total
£ £
Cost
As at 1 April 2024 2,974 97,018
Additions - 23,246
Disposals - (960 )
As at 31 March 2025 2,974 119,304
Depreciation
As at 1 April 2024 330 61,747
Provided during the period 595 9,883
Disposals - (81 )
As at 31 March 2025 925 71,549
Net Book Value
As at 31 March 2025 2,049 47,755
As at 1 April 2024 2,644 35,271
5. Debtors
2025 2024
£ £
Due within one year
Trade debtors 53,137 42,139
Other debtors 8,861 8,052
61,998 50,191
Due after more than one year
Amounts recoverable on contracts 10,844 9,450
72,842 59,641
Page 4
Page 5
6. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 51,809 14,828
Other creditors 3,309 2,851
Taxation and social security 53,171 75,733
108,289 93,412
7. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 4,160 7,629
8. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 100 100
Page 5