Company registration number NI006927 (Northern Ireland)
WILLIAM WILLIS & CO LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
PAGES FOR FILING WITH REGISTRAR
WILLIAM WILLIS & CO LIMITED
COMPANY INFORMATION
Director
Mr John Willis
Secretary
Mrs Maureen Willis
Company number
NI006927
Registered office
Alexander House
49 / 51 Church Street
Newtownards
Co Down
BT23 4AN
Accountants
Stanley Woods & Co
Alexander House
49 / 51 Church Street
Newtownards
Co Down
BT23 4AN
Business address
25 Aldergrange Park
Newtownards
Co Down
BT23 4FZ
WILLIAM WILLIS & CO LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
WILLIAM WILLIS & CO LIMITED
BALANCE SHEET
AS AT
30 APRIL 2025
30 April 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Intangible assets
-
0
-
0
Investment property
4
1,000,000
1,000,000
Current assets
Debtors
5
26,475
19,337
Cash at bank and in hand
65,469
89,605
91,944
108,942
Creditors: amounts falling due within one year
6
(29,792)
(29,100)
Net current assets
62,152
79,842
Total assets less current liabilities
1,062,152
1,079,842
Provisions for liabilities
7
(162,943)
(162,943)
Net assets
899,209
916,899
Capital and reserves
Called up share capital
18,709
18,709
Revaluation reserve
674,024
674,024
Distributable profit and loss reserves
8
206,476
224,166
Total equity
899,209
916,899

The notes on pages 3 to 6 form part of these financial statements.

WILLIAM WILLIS & CO LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2025
30 April 2025
- 2 -

For the financial year ended 30 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he 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 director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 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.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 6 January 2026 and are signed on its behalf by:
Mr John Willis
Director
Company registration number NI006927 (Northern Ireland)
WILLIAM WILLIS & CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2025
- 3 -
1
Accounting policies
Company information

William Willis & Co Limited is a private company limited by shares incorporated in Northern Ireland. The registered office is Alexander House, 49 / 51 Church Street, Newtownards, Co Down, BT23 4AN.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Revenue

Turnover is recognised at the fair value of the consideration received or receivable f rom rental income provided in the normal course of business.

The company recognises revenue from the following major sources:

- Letting of commercial properties

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

Letting of commercial properties

The company lets its commercial properties through a managing agent. The rental income is charged on a quarterly basis and brought into account as it falls due.

1.3
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in profit or loss.

Accumulated gains and losses are held in a separate fair value reserve, net of any deferred tax, until such times as they are realised, being to the extent that they are readily convertible to cash.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks.

WILLIAM WILLIS & CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 4 -
1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs.

Classification of financial liabilities

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 company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

WILLIAM WILLIS & CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
1
Accounting policies
(Continued)
- 5 -

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
2
2
4
Investment property
2025
£
Fair value
At 1 May 2024 and 30 April 2025
1,000,000

Investment property comprises the properties at 25-33 Dublin Road and the property at 28 Dargan Crescent.

The directors are of the opinion that the value of the investment properties as stated in the financial statements represents the fair value as at 30 April 2024.

5
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
459
459
Other debtors
26,016
18,878
26,475
19,337
WILLIAM WILLIS & CO LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2025
- 6 -
6
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
6,906
3,638
Corporation tax
21,686
24,382
Other creditors
1,200
1,080
29,792
29,100
7
Provisions for liabilities
2025
2024
£
£
Deferred tax liabilities
162,943
162,943
8
Profit and loss reserves

Retained earnings represent the retained earnings of the business net of distribution to the owners.

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