Registration number:
Wills Tax & Trusts Ltd
for the Year Ended 31 August 2025
Wills Tax & Trusts Ltd
Contents
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Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Wills Tax & Trusts Ltd
Company Information
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Director |
R L C Best |
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Company secretary |
Unavida Wealth Management Ltd |
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Registered office |
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Accountants |
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Wills Tax & Trusts Ltd
(Registration number: 10578983)
Balance Sheet as at 31 August 2025
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Note |
31 August |
31 August |
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Fixed assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets/(liabilities) |
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Net assets/(liabilities) |
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Capital and reserves |
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Called up share capital |
200 |
200 |
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Retained earnings |
52,239 |
(113,349) |
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Shareholders' funds/(deficit) |
52,439 |
(113,149) |
For the financial year ending 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
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Wills Tax & Trusts Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements are presented in pounds sterling (GBP), which is the Company’s functional and presentational currency. Amounts are rounded to the nearest £1, unless stated otherwise.
Going concern
The financial statements have been prepared on a going concern basis. The Director has reviewed the Company’s cash flow forecasts and is satisfied that the Company will be able to meet its liabilities as they fall due for at least twelve months from the date of approval of these financial statements.
The Director has confirmed that financial support will be provided to the Company for the foreseeable future, and not less than twelve months from the date of approval of these financial statements, to enable it to continue trading and to meet its obligations as they fall due.
Wills Tax & Trusts Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025 (continued)
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Accounting policies (continued) |
Revenue recognition
Revenue comprises fees charged for providing financial advice and related services. Fees are recognised as the relevant services are provided, to the extent that the amount can be measured reliably and it is probable that the economic benefits will flow to the Company.
Where services are provided over a period of time, revenue is recognised in line with the stage of completion of the engagement. Fixed‑fee or retainer arrangements are recognised on a straight‑line basis over the period to which they relate.
Amounts invoiced in advance of service delivery are recognised as deferred income. Fees not yet invoiced for services already delivered are recognised as accrued income.
Tax
Taxation expense comprises current and deferred tax. Current tax is calculated on the taxable profit for the year using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Deferred tax is recognised on timing differences between taxable profits and the results reported in the financial statements. Deferred tax assets are recognised only when it is probable that they will be recovered. Deferred tax balances are measured at the tax rates expected to apply when the timing differences reverse.
Tangible assets
Tangible fixed assets are stated at cost less accumulated depreciation and impairment. Depreciation is charged on a straight‑line basis over the estimated useful lives of the assets. Residual values and useful economic lives are reviewed annually. Assets are assessed for indicators of impairment at each reporting date and written down when necessary.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Wills Tax & Trusts Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025 (continued)
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Accounting policies (continued) |
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Defined contribution pension obligation
The Company operates a defined contribution pension scheme. Contributions are charged to profit or loss when they fall due. The Company has no legal or constructive obligation to pay further amounts once the fixed contributions have been made.
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Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
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Tangible assets |
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Office equipment |
Total |
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Cost or valuation |
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At 1 September 2024 |
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Additions |
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At 31 August 2025 |
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Depreciation |
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At 1 September 2024 |
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Charge for the year |
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At 31 August 2025 |
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Carrying amount |
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At 31 August 2025 |
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At 31 August 2024 |
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Debtors |
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Current |
31 August |
31 August |
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Trade debtors |
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Other debtors |
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Wills Tax & Trusts Ltd
Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025 (continued)
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Creditors |
Creditors: amounts falling due within one year
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31 August |
31 August |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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