Principle Wills Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 09566176 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

FOR

PRINCIPLE WILLS LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Chartered Certified Accountants' Report

5

DIRECTORS:

S Fox

Ms S P Hagon

REGISTERED OFFICE:

Lonsdale House

High Street

Lutterworth

Leicestershire

LE17 4AD

REGISTERED NUMBER:

09566176 (England and Wales)

ACCOUNTANTS:

Crowfoot & Co Accountants Ltd

Lonsdale House

High Street

Lutterworth

Leicestershire

LE17 4AD

FIXED ASSETS

Tangible assets

4

815

959

CURRENT ASSETS

Debtors

5

8,791

5,842

Cash at bank

4,948

8,161

13,739

14,003

CREDITORS

Amounts falling due within one year

6

4,666

3,820

NET CURRENT ASSETS

9,073

10,183

TOTAL ASSETS LESS CURRENT LIABILITIES

9,888

11,142

PROVISIONS FOR LIABILITIES

155

182

NET ASSETS

9,733

10,960

CAPITAL AND RESERVES

Called up share capital

12

12

Retained earnings

9,721

10,948

SHAREHOLDERS' FUNDS

9,733

10,960

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 27 August 2023 and were signed on its behalf by:

S Fox - Director

Ms S P Hagon - Director

1.	STATUTORY INFORMATION

Principle Wills Ltd 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.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 May 2022

and 30 April 2023

2,160

DEPRECIATION

At 1 May 2022

1,201

Charge for year

144

At 30 April 2023

1,345

NET BOOK VALUE

At 30 April 2023

815

At 30 April 2022

959

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

105

105

Other debtors

8,686

5,737

8,791

5,842

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Taxation and social security

3,780

3,040

Other creditors

886

780

4,666

3,820

7.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At 30 April 2023, an amount of £106 (2022 £1,990) was due to/from the director's which amount is included within creditors/debtors on the balance sheet.

8.	RELATED PARTY DISCLOSURES

At the 30 April 2023, an amount of £8,686 (2022 £3,747) is owed by Principle Financial Services Ltd and is included in other debtors.

9.	ULTIMATE CONTROLLING PARTY

The controlling party is S Fox.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Principle Wills Ltd for the year ended 30 April 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Principle Wills Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Principle Wills Ltd and state those matters that we have agreed to state to the Board of Directors of Principle Wills Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Principle Wills Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Principle Wills Ltd. You consider that Principle Wills Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Principle Wills Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Crowfoot & Co Accountants Ltd

Lonsdale House

High Street

Lutterworth

Leicestershire

LE17 4AD

27 August 2023