W Illingworth & Sons Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 05999114

W Illingworth & Sons Limited

Filleted Unaudited Financial Statements

31 March 2025

W Illingworth & Sons Limited

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Intangible assets	5	18,900	22,050
Tangible assets	6	10,853	12,916
		--------	--------
		29,753	34,966

Current assets

Stocks		165,993	170,815
Debtors	7	161,152	145,532
Cash at bank and in hand		24,444	31,232
		---------	---------
		351,589	347,579

Creditors: amounts falling due within one year	8	234,475		237,640
		---------		---------
Net current assets			117,114	109,939
			---------	---------
Total assets less current liabilities			146,867	144,905

Provisions

Taxation including deferred tax	2,062	2,454
	---------	---------
Net assets	144,805	142,451
	---------	---------

Capital and reserves

Called up share capital	150	150
Profit and loss account	144,655	142,301
	---------	---------
Shareholders funds	144,805	142,451
	---------	---------

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 income and retained earnings has not been delivered.

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.

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 .

W Illingworth & Sons Limited

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 23 December 2025 , and are signed on behalf of the board by:

Mr J Illingworth
Director

Company registration number: 05999114

W Illingworth & Sons Limited

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 12 Tranmere Crescent, Morecambe, Lancashire, LA3 2BD.

2. Statement of compliance

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

3. Accounting policies

Basis of preparation

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.

Revenue recognition

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. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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:

	Goodwill	-	5% straight line

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 subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

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:

Plant and machinery	-	10% reducing balance
Office equipment	-	15% reducing balance
Motor vehicles	-	25% reducing balance

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 stock to its 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 as a finance cost in profit or loss in the period it arises.

Financial instruments

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 entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 6 (2024: 6 ).

5. Intangible assets

	Goodwill
	£

Cost
At 1 April 2024 and 31 March 2025	63,000
	--------
Amortisation
At 1 April 2024	40,950
Charge for the year	3,150
	--------
At 31 March 2025	44,100
	--------
Carrying amount
At 31 March 2025	18,900
	--------
At 31 March 2024	22,050
	--------

6. Tangible assets

Plant and machinery	Fixtures and fittings	Motor vehicles	Total
£	£	£	£

Cost
At 1 April 2024	15,646	2,684	28,940	47,270
Additions	682	–	–	682
	--------	-------	--------	--------
At 31 March 2025	16,328	2,684	28,940	47,952
	--------	-------	--------	--------
Depreciation
At 1 April 2024	10,210	2,248	21,896	34,354
Charge for the year	918	66	1,761	2,745
	--------	-------	--------	--------
At 31 March 2025	11,128	2,314	23,657	37,099
	--------	-------	--------	--------
Carrying amount
At 31 March 2025	5,200	370	5,283	10,853
	--------	-------	--------	--------
At 31 March 2024	5,436	436	7,044	12,916
	--------	-------	--------	--------

7. Debtors

	2025	2024
	£	£

Trade debtors	143,404	127,123
Prepayments and accrued income	1,775	1,500
Other debtors	15,973	16,909
	---------	---------
	161,152	145,532
	---------	---------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£

Bank loans and overdrafts	4,719	3,234
Trade creditors	98,916	79,949
Accruals and deferred income	7,633	7,003
Corporation tax	27,063	26,165
Social security and other taxes	7,256	18,502
Director loan accounts	88,888	102,787
	---------	---------
	234,475	237,640
	---------	---------