Company No: 06300024 (England and Wales)

Contents

• Balance Sheet
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Investment property	3	227,683		227,683
Investments	4	289,440		289,440
		517,123		517,123
Current assets
Debtors	5	160,760		160,760
		160,760		160,760
Creditors: amounts falling due within one year	6	( 473,883)		( 473,883)
Net current liabilities		(313,123)		(313,123)
Total assets less current liabilities		204,000		204,000
Net assets		204,000		204,000
Capital and reserves
Called-up share capital	7	107,000		107,000
Capital redemption reserve		97,000		97,000
Total shareholders' funds		204,000		204,000

For the financial year ending 31 October 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 financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Wills Marine Holdings Limited (registered number: 06300024) were approved and authorised for issue by the Board of Directors on 13 June 2026. They were signed on its behalf by:

Mr M J Wills Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Wills Marine Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Little Highlands, Blachford Road, Ivybridge, United Kingdom.

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 items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Group accounts exemption

Group accounts exemption s399
The Company has taken advantage of the exemption in section 399 of the Companies Act 2006 not to prepare consolidated accounts, because the group it heads qualifies as small. The financial statements present information about the Company as an individual entity only.

Investment property

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Profit and Loss Account. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	0		0

3. Investment property

	Investment property
	£
Valuation
As at 01 November 2024	227,683
As at 31 October 2025	227,683

Valuation

The directors have assessed the property as at the end of the financial year and concluded that the carrying value reflects an accurate market value.

4. Fixed asset investments

Investments in subsidiaries

	2025
	£
Cost
At 01 November 2024	289,440
At 31 October 2025	289,440
Carrying value at 31 October 2025	289,440
Carrying value at 31 October 2024	289,440

5. Debtors

	2025		2024
	£		£
Amounts owed by Group undertakings	160,760		160,760

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Other creditors	473,883		473,883

7. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
57,000 Ordinary shares of £ 1.00 each	57,000		57,000
23,750 Ordinary A shares of £ 1.00 each	23,750		23,750
26,250 Ordinary B shares of £ 1.00 each	26,250		26,250
	107,000		107,000
63,500 Redeemable preference shares shares of £ 1.00 each	63,500		63,500
	170,500		170,500