Willowstone Construction Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 06166530 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

FOR

WILLOWSTONE CONSTRUCTION LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

A F Cross

SECRETARY:

M Cross

REGISTERED OFFICE:

The Barn 249 Saunders Lane

Mayford

Woking

Surrey

GU22 0NU

REGISTERED NUMBER:

06166530 (England and Wales)

ACCOUNTANTS:

Ashdown Price Chartered Accountants

6 Quarry Street

Guildford

Surrey

GU1 3UR

FIXED ASSETS

Tangible assets

4

1,308

1,962

Investment property

5

500,000

501,308

501,962

CURRENT ASSETS

Stocks

95,277

109,538

Debtors

6

87,803

87,104

Cash at bank

7,732

2,588

190,812

199,230

CREDITORS

Amounts falling due within one year

7

150,187

141,307

NET CURRENT ASSETS

40,625

57,923

TOTAL ASSETS LESS CURRENT
LIABILITIES

541,933

559,885

CREDITORS

Amounts falling due after more than one
year

8

321,527

352,451

NET ASSETS

220,406

207,434

CAPITAL AND RESERVES

Called up share capital

2

Non-distributable reserve

10

205,000

Retained earnings

15,404

2,432

SHAREHOLDERS' FUNDS

220,406

207,434

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 November 2022 and were signed by:

A F Cross - Director

1.	STATUTORY INFORMATION

Willowstone Construction Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on reducing balance

Investment property

Investment properties are shown at their fair value at the year end. The gain or loss on the fair value during the year is recognised in the profit loss account. At the year end, the annual movement in the fair value is transferred to a non-distributable reserve, which represents the total increase in the fair valuation above the original cost of the investment properties.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2021

and 31 March 2022

11,138

DEPRECIATION

At 1 April 2021

9,176

Charge for year

654

At 31 March 2022

9,830

NET BOOK VALUE

At 31 March 2022

1,308

At 31 March 2021

1,962

5.	INVESTMENT PROPERTY

The director considered the fair value of the investment property at 31 March 2022 was £500,000 (2021 - £500,000).

Fair value at 31 March 2022 is represented by:

£

Valuation in 2022

205,000

Cost

295,000

500,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

Trade debtors

45,088

67,191

Other debtors

42,715

19,913

87,803

87,104

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

Bank loans and overdrafts

9,681

-

Trade creditors

45,947

103,358

Taxation and social security

16,137

19,916

Other creditors

78,422

18,033

150,187

141,307

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

31.3.22

31.3.21

£

Bank loans

258,587

258,586

Other creditors

62,940

93,865

321,527

352,451

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.22

31.3.21

£

Bank loan

258,587

258,586

A bank loan is secured by a fixed charge on the company's freehold property and a floating charge over other assets.

10.

RESERVES

Non-distributable

reserve

£

At 1 April 2021

and 31 March 2022

205,000

Willowstone Construction Limited - Accounts to registrar (filleted) - small 18.2

Willowstone Construction Limited - Accounts to registrar (filleted) - small 18.2