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REGISTERED NUMBER: 00070718 (England and Wales)















Henry Willis & Sons Limited

Financial Statements for the Year Ended 30th June 2018






Henry Willis & Sons Limited (Registered number: 00070718)

Contents of the Financial Statements
for the Year Ended 30th June 2018










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Henry Willis & Sons Limited

Company Information
for the Year Ended 30th June 2018







DIRECTORS: Dr D G G Wyld
J Bowden
F S Preston





SECRETARY: J Bowden





REGISTERED OFFICE: Rotunda Organ Works
72 St Anne Street
Liverpool
Merseyside
L3 3DY





REGISTERED NUMBER: 00070718 (England and Wales)





ACCOUNTANTS: Sheen Stickland
Chartered Accountants
The Engine House
77 Station Road
Petersfield
Hampshire
GU32 3FQ

Henry Willis & Sons Limited (Registered number: 00070718)

Balance Sheet
30th June 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 754,780 759,145

CURRENT ASSETS
Stocks 44,850 118,902
Debtors 5 109,886 25,248
Cash at bank and in hand 321 33,134
155,057 177,284
CREDITORS
Amounts falling due within one year 6 283,167 297,060
NET CURRENT LIABILITIES (128,110 ) (119,776 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

626,670

639,369

CREDITORS
Amounts falling due after more than
one year

7

(356,874

)

(374,631

)

PROVISIONS FOR LIABILITIES (14,137 ) (17,120 )
NET ASSETS 255,659 247,618

Henry Willis & Sons Limited (Registered number: 00070718)

Balance Sheet - continued
30th June 2018

2018 2017
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 66,580 66,580
Share premium 93,002 93,002
Fair value reserve 9 227,050 229,199
Retained earnings (130,973 ) (141,163 )
255,659 247,618

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th June 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 29th March 2019 and were signed on
its behalf by:





J Bowden - Director


Henry Willis & Sons Limited (Registered number: 00070718)

Notes to the Financial Statements
for the Year Ended 30th June 2018


1. STATUTORY INFORMATION

Henry Willis & Sons 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

Going concern
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared on the going concern basis which the directors consider
appropriate in view of the continuing support of the company's bankers, directors and shareholders.

Turnover
Turnover represents invoiced goods and services, net of value added tax, together with the
percentage of associated revenue on work not invoiced but in progress at the year end.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost and not provided
Plant and machinery etc - 25% on reducing balance, 15% on reducing balance, 10% on reducing balance, 5% on reducing balance and 20% - 50% on cost

Stock and work in progress
Raw materials, consumables and finished goods are valued at the lower of cost and net realisable
value, after making due allowance for obsolete and slow moving items.

Work in progress is valued to recognise the revenue associated with a transaction as a percentage of
the work completed at the year end on a straight line basis.

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.


Henry Willis & Sons Limited (Registered number: 00070718)

Notes to the Financial Statements - continued
for the Year Ended 30th June 2018


2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the
company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2017 - 14 ) .

Henry Willis & Sons Limited (Registered number: 00070718)

Notes to the Financial Statements - continued
for the Year Ended 30th June 2018


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st July 2017 750,000 109,203 859,203
Additions - 10,285 10,285
At 30th June 2018 750,000 119,488 869,488
DEPRECIATION
At 1st July 2017 21,000 79,058 100,058
Charge for year 10,500 4,150 14,650
At 30th June 2018 31,500 83,208 114,708
NET BOOK VALUE
At 30th June 2018 718,500 36,280 754,780
At 30th June 2017 729,000 30,145 759,145

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Trade debtors 107,834 23,311
Other debtors 2,052 1,937
109,886 25,248

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2018 2017
£    £   
Bank loans and overdrafts 20,707 19,824
Trade creditors 22,080 41,466
Taxation and social security 81,907 74,389
Other creditors 158,473 161,381
283,167 297,060

Henry Willis & Sons Limited (Registered number: 00070718)

Notes to the Financial Statements - continued
for the Year Ended 30th June 2018


7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2018 2017
£    £   
Bank loans 356,874 374,631

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 274,581 288,665

8. SECURED DEBTS

The following secured debts are included within creditors:

2018 2017
£    £   
Bank loans 375,624 394,455

The bank loan is secured on the freehold property.

9. RESERVES
Fair
value
reserve
£   
At 1st July 2017 229,199
Transfer to profit and loss (5,132 )
Deferred tax movement 2,983

At 30th June 2018 227,050