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REGISTERED NUMBER: 06830872 (England and Wales)















Financial Statements for the Year Ended 28 February 2022

for

WOODHOUSE & LAW LTD

WOODHOUSE & LAW LTD (REGISTERED NUMBER: 06830872)

Contents of the Financial Statements
FOR THE YEAR ENDED 28 FEBRUARY 2022










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


WOODHOUSE & LAW LTD

Company Information
FOR THE YEAR ENDED 28 FEBRUARY 2022







DIRECTORS: N C Woodhouse
J R Law





REGISTERED OFFICE: 4 Georges Place
Bathwick Hill
BATH
Somerset
BA2 4EN





REGISTERED NUMBER: 06830872 (England and Wales)





ACCOUNTANTS: Charlton Baker
The Courtyard
33 Duke Street
Trowbridge
Wiltshire
BA14 8EA

WOODHOUSE & LAW LTD (REGISTERED NUMBER: 06830872)

Statement of Financial Position
28 FEBRUARY 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 5 26,685 30,373

CURRENT ASSETS
Inventories 6 54,804 32,191
Debtors 7 144,482 133,408
Cash at bank and in hand 315,396 164,156
514,682 329,755
CREDITORS
Amounts falling due within one year 8 360,914 215,554
NET CURRENT ASSETS 153,768 114,201
TOTAL ASSETS LESS CURRENT
LIABILITIES

180,453

144,574

CREDITORS
Amounts falling due after more than one
year

9

(65,000

)

(84,685

)

PROVISIONS FOR LIABILITIES (5,070 ) (7,332 )
NET ASSETS 110,383 52,557

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 110,381 52,555
SHAREHOLDERS' FUNDS 110,383 52,557

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2022 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.

WOODHOUSE & LAW LTD (REGISTERED NUMBER: 06830872)

Statement of Financial Position - continued
28 FEBRUARY 2022


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2022 and were signed on its behalf by:





N C Woodhouse - Director


WOODHOUSE & LAW LTD (REGISTERED NUMBER: 06830872)

Notes to the Financial Statements
FOR THE YEAR ENDED 28 FEBRUARY 2022


1. STATUTORY INFORMATION

Woodhouse & Law 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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 net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

Sale of goods

Turnover is recognised when significant risks and rewards of ownership of the goods have transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

When the outcome of a transaction can be estimated reliably, turnover from interior and garden design is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to stage of job completion.

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 - 25% on reducing balance, 25% on cost and 20% on reducing balance

Government grants
Government grants are accounted for in accordance with Section 24 of FRS 102 and are recognised in income when the grant proceeds are received or receivable.

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.


WOODHOUSE & LAW LTD (REGISTERED NUMBER: 06830872)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 28 FEBRUARY 2022


3. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2021 - 13 ) .

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 March 2021 17,871 50,062 30,244 98,177
Additions - 1,410 4,250 5,660
At 28 February 2022 17,871 51,472 34,494 103,837
DEPRECIATION
At 1 March 2021 14,854 28,303 24,647 67,804
Charge for year 694 4,958 3,696 9,348
At 28 February 2022 15,548 33,261 28,343 77,152
NET BOOK VALUE
At 28 February 2022 2,323 18,211 6,151 26,685
At 28 February 2021 3,017 21,759 5,597 30,373

WOODHOUSE & LAW LTD (REGISTERED NUMBER: 06830872)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 28 FEBRUARY 2022


6. INVENTORIES
2022 2021
£    £   
Stocks 54,804 32,191

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 131,660 130,030
Other debtors 12,822 3,378
144,482 133,408

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 20,000 14,642
Trade creditors 94,740 70,455
Taxation and social security 102,652 32,901
Other creditors 143,522 97,556
360,914 215,554

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans 65,000 84,685

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2022 2021
£    £   
Within one year 458 4,674