Willcock and White Property Services Ltd 08476524 false 2024-04-01 2025-03-31 2025-03-31 The principal activity of the company is that of property management. Digita Accounts Production Advanced 6.30.9574.0 true true 08476524 2024-04-01 2025-03-31 08476524 2025-03-31 08476524 core:HirePurchaseContracts core:CurrentFinancialInstruments 2025-03-31 08476524 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2025-03-31 08476524 core:CurrentFinancialInstruments 2025-03-31 08476524 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 08476524 core:Non-currentFinancialInstruments 2025-03-31 08476524 core:Non-currentFinancialInstruments core:AfterOneYear 2025-03-31 08476524 core:FurnitureFittingsToolsEquipment 2025-03-31 08476524 core:MotorVehicles 2025-03-31 08476524 core:OtherPropertyPlantEquipment 2025-03-31 08476524 bus:SmallEntities 2024-04-01 2025-03-31 08476524 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 08476524 bus:FilletedAccounts 2024-04-01 2025-03-31 08476524 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 08476524 bus:RegisteredOffice 2024-04-01 2025-03-31 08476524 bus:Director1 2024-04-01 2025-03-31 08476524 bus:Director2 2024-04-01 2025-03-31 08476524 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 08476524 core:FurnitureFittingsToolsEquipment 2024-04-01 2025-03-31 08476524 core:MotorVehicles 2024-04-01 2025-03-31 08476524 core:OtherPropertyPlantEquipment 2024-04-01 2025-03-31 08476524 core:PlantMachinery 2024-04-01 2025-03-31 08476524 core:Vehicles 2024-04-01 2025-03-31 08476524 countries:EnglandWales 2024-04-01 2025-03-31 08476524 2024-03-31 08476524 core:FurnitureFittingsToolsEquipment 2024-03-31 08476524 core:MotorVehicles 2024-03-31 08476524 core:OtherPropertyPlantEquipment 2024-03-31 08476524 2023-04-06 2024-03-31 08476524 2024-03-31 08476524 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-03-31 08476524 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-03-31 08476524 core:CurrentFinancialInstruments 2024-03-31 08476524 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 08476524 core:Non-currentFinancialInstruments 2024-03-31 08476524 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 08476524 core:FurnitureFittingsToolsEquipment 2024-03-31 08476524 core:MotorVehicles 2024-03-31 08476524 core:OtherPropertyPlantEquipment 2024-03-31 iso4217:GBP xbrli:pure

Registration number: 08476524

Willcock and White Property Services Ltd Unaudited Financial Statements for the Year Ended 31 March 2025
Brebners Chartered Accountants 1 Suffolk Way Sevenoaks Kent TN13 1YL

Willcock and White Property Services Ltd

Statement of Financial Position as at 31 March 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 50,085 | 65,571
Investment property | 5 | 417,147 | 417,147
|  | 467,232 | 482,718
Current assets |  |  |
Debtors | 6 | 276,726 | 278,906
Cash at bank and in hand |  | 55,092 | 13,501
|  | 331,818 | 292,407
Creditors: Amounts falling due within one year | 7 | (352,423) | (327,472)
Net current liabilities |  | (20,605) | (35,065)
Total assets less current liabilities |  | 446,627 | 447,653
Creditors: Amounts falling due after more than one year | 7 | (308,441) | (333,245)
Provisions for liabilities |  | (12,521) | (16,393)
Net assets |  | 125,665 | 98,015
Capital and reserves |  |  |
Called up share capital |  | 100 | 100
Retained earnings |  | 125,565 | 97,915
Shareholders' funds |  | 125,665 | 98,015

For the financial 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 accounts for the year in question in accordance with section 476; and
• | The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

The directors of Willcock and White Property Services Ltd have elected not to include a copy of the Income Statement within the financial statements, in accordance with the special provisions relating to companies subject to the small companies regime within the Companies Act 2006, s444.

Willcock and White Property Services Ltd

Statement of Financial Position as at 31 March 2025

Approved and authorised by the Board on 26 June 2026 and signed on its behalf by:

.........................................

Mr M Willcock

Director

.........................................

Mr P Willcock

Director

Company registration number: 08476524

Willcock and White Property Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
7 The Ambition Broxbourne Business Centre
Pindar Road
Hoddesdon
EN11 0FJ

The principal activity of the company is that of property management.

2 | Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

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.

Going concern

The company made a profit for the period ended 31 March 2025 and had net assets at that date amounting to £125,665. Subsequent to the period end, the company continues to trade profitably. The directors have considered the current economic climate, and do not believe that this will significantly adversely affect the company.
Having made enquires, and based upon the above, the directors have a reasonable expectation that the company has adequate resources to continue operating in the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax.
Revenues are recognised in the period to which they relate, as services are performed when the company has a right to consideration. The company recognises rental income equally over the period of the lease or licence and lease renewal premiums on contractual completion.

Willcock and White Property Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Furniture, fittings and equipment | 33% straight line
Motor vehicles | 25% reducing balance
Plant and machinery | 25% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the directors. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

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.

Willcock and White Property Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Hire purchase

Assets held under hire purchase contracts are capitalised at the lesser of fair value or present value of minimum lease payments in the statement of financial position. The present value of the minimum lease payments is calculated using the interest rate implicit in the lease. A corresponding liability is recognised at the same value in the statement of financial position. The asset is then depreciated over its useful life.
The minimum lease payments are apportioned between the finance charge recognised in the income statement and the reduction of the outstanding liability using the effective interest method. The finance charge in each period is allocated so as to produce a constant periodic rate of interest on the remaining balance of the liability.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3 | Staff numbers

The average number of persons employed by the company during the year, was 2 (2024 - 2).

Willcock and White Property Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4 | Tangible assets

| Furniture, fittings and equipment £ | Motor vehicles £ | Plant and machinery £ | Total £
Cost or valuation
At 1 April 2024 | 6,953 | 72,840 | 2,434 | 82,227
Additions | 1,954 | - | - | 1,954
At 31 March 2025 | 8,907 | 72,840 | 2,434 | 84,181
Depreciation
At 1 April 2024 | 5,117 | 9,105 | 2,434 | 16,656
Charge for the year | 1,506 | 15,934 | - | 17,440
At 31 March 2025 | 6,623 | 25,039 | 2,434 | 34,096
Carrying amount
At 31 March 2025 | 2,284 | 47,801 | - | 50,085
At 31 March 2024 | 1,836 | 63,735 | - | 65,571

5 | Investment properties

| 2025 £
At 1 April 2024 | 417,147
At 31 March 2025 | 417,147

The investment properties are stated at fair value at 31 March 2025 as estimated by the directors at an amount of £417,147.

6 | Debtors

| 2025 £ | 2024 £
Trade debtors | 22,790 | 19,655
Amounts owed by group undertakings | 86,316 | 91,076
Other debtors | 167,620 | 168,175
| 276,726 | 278,906

Willcock and White Property Services Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7 | Creditors

Creditors: amounts falling due within one year

| Note | 2025 £ | 2024 £
Loans and borrowings | 8 | 19,120 | 20,883
Amounts owed to group undertakings |  | 161,018 | 154,328
Taxation and social security |  | 78,487 | 36,221
Accruals and deferred income |  | 7,702 | 2,500
Other creditors |  | 86,096 | 113,540
|  | 352,423 | 327,472

Creditors: amounts falling due after more than one year

| Note | 2025 £ | 2024 £
Loans and borrowings | 8 | 308,441 | 333,245

8 | Loans and borrowings

Current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 9,520 | 9,286
Bank overdrafts | - | 1,997
Hire purchase contracts | 9,600 | 9,600
| 19,120 | 20,883

Non-current loans and borrowings

| 2025 £ | 2024 £
Bank borrowings | 265,916 | 281,120
Hire purchase contracts | 42,525 | 52,125
| 308,441 | 333,245

Bank borrowings are secured on the investment properties shown in note 6.

9 | Transactions with directors

At 31 March 2025 an amount of £22,717 (2024: £Nil) was due from the directors. During the year there were advances of £65,754 and repayments of £43,539. Interest of £502 (2024: £Nil) was charged at a rate of 2.25%. There are no set terms in place.