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Registration number: 09857509

Woods of London Chauffeurs Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2022

 

Woods of London Chauffeurs Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Woods of London Chauffeurs Limited

Company Information

Director

Mr Jonathan Lee Woods

Company secretary

Mr Jonathan Lee Woods

Registered office

61 Arnhem Drive
New Addington
Croyden
Surrey
CR0 0EE

Accountants

C W W Ltd
Chartered Accountants
149-151 Mortimer Street
Herne Bay
Kent
CT6 5HA

 

Woods of London Chauffeurs Limited

(Registration number: 09857509)
Balance Sheet as at 30 November 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

16,043

20,029

Current assets

 

Debtors

5

37,666

-

Cash at bank and in hand

 

687

29,630

 

38,353

29,630

Creditors: Amounts falling due within one year

6

(46,396)

(16,861)

Net current (liabilities)/assets

 

(8,043)

12,769

Total assets less current liabilities

 

8,000

32,798

Creditors: Amounts falling due after more than one year

6

(7,998)

(34,839)

Net assets/(liabilities)

 

2

(2,041)

Capital and reserves

 

Called up share capital

7

1

1

Retained earnings

1

(2,042)

Shareholders' funds/(deficit)

 

2

(2,041)

For the financial year ending 30 November 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 30 September 2023
 

 

Woods of London Chauffeurs Limited

(Registration number: 09857509)
Balance Sheet as at 30 November 2022

.........................................
Mr Jonathan Lee Woods
Company secretary and director

 

Woods of London Chauffeurs Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
61 Arnhem Drive
New Addington
Croyden
Surrey
CR0 0EE

These financial statements were authorised for issue by the director on 30 September 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

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.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

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

 

Woods of London Chauffeurs Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

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.

Tangible assets

Tangible assets are stated in the balance sheet 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, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and Machinery

25% RB

Motor Vehicles

25% RB

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

 

Woods of London Chauffeurs Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

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 profit and loss account 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.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve 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 (including the director) during the year, was 1 (2021 - 1).

 

Woods of London Chauffeurs Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

4

Tangible assets

Fixtures and fittings
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 December 2021

1,596

70,591

72,187

Additions

1,362

-

1,362

At 30 November 2022

2,958

70,591

73,549

Depreciation

At 1 December 2021

1,162

50,996

52,158

Charge for the year

449

4,899

5,348

At 30 November 2022

1,611

55,895

57,506

Carrying amount

At 30 November 2022

1,347

14,696

16,043

At 30 November 2021

434

19,595

20,029

5

Debtors

Current

2022
£

2021
£

Other debtors

37,666

-

6

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Loans and borrowings

8

26,839

13,176

Trade creditors

 

290

-

Taxation and social security

 

17,467

2,115

Accruals and deferred income

 

1,800

900

Other creditors

 

-

670

 

46,396

16,861

Creditors: amounts falling due after more than one year

 

Woods of London Chauffeurs Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022

Note

2022
£

2021
£

Due after one year

 

Loans and borrowings

8

7,998

34,839

7

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

         

8

Loans and borrowings

2022
£

2021
£

Non-current loans and borrowings

Bank borrowings

7,998

11,200

Hire purchase contracts

-

23,639

7,998

34,839

2022
£

2021
£

Current loans and borrowings

Bank borrowings

3,200

6,413

Hire purchase contracts

23,639

6,763

26,839

13,176

9

Dividends

Final dividends paid

   

2022
£

 

2021
£

Final dividend of £1.00 per each Ordinary

 

18,228

 

-