Company No:
Contents
Note | 31.01.2023 | |
£ | ||
Fixed assets | ||
Tangible assets | 4 |
|
4,477 | ||
Current assets | ||
Debtors | 5 |
|
Cash at bank and in hand |
|
|
69,451 | ||
Creditors: amounts falling due within one year | 6 | (
|
Net current assets | 51,620 | |
Total assets less current liabilities | 56,097 | |
Provision for liabilities | 7 | (
|
Net assets |
|
|
Capital and reserves | ||
Called-up share capital | 8 |
|
Profit and loss account |
|
|
Total shareholders' funds |
|
Directors' responsibilities:
The financial statements of Woodman-Stewart Limited (registered number:
F C Woodman
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.
Woodman-Stewart Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 7 Oakhill Road, Beckenham, BR3 6NG, England, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
The company is preparing accounts for a long period covering from incorporation to its year end.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Plant and machinery etc. |
|
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
Specifically, judgements and estimates are required in determining the useful economic lives of fixed assets, the recoverability of debtors and the adoption of the going concern basis in preparing these accounts.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
Period from 10.01.2022 to 31.01.2023 |
|
Number | |
Monthly average number of persons employed by the Company during the period, including directors |
|
Plant and machinery etc. | Total | ||
£ | £ | ||
Cost | |||
At 10 January 2022 |
|
|
|
Additions |
|
|
|
At 31 January 2023 |
|
|
|
Accumulated depreciation | |||
At 10 January 2022 |
|
|
|
Charge for the financial period |
|
|
|
At 31 January 2023 |
|
|
|
Net book value | |||
At 31 January 2023 |
|
|
31.01.2023 | |
£ | |
Other debtors |
|
31.01.2023 | |
£ | |
Taxation and social security |
|
Other creditors |
|
|
31.01.2023 | |
£ | |
Deferred tax |
|
Deferred taxation | Total | ||
£ | £ | ||
At 10 January 2022 |
|
0 | |
Charged to the Profit and Loss Account |
|
1,119 | |
At 31 January 2023 |
|
1,119 | |
Deferred tax
31.01.2023 | |
£ | |
Accelerated capital allowances |
|
Provision for deferred tax |
|
31.01.2023 | |
£ | |
Allotted, called-up and fully-paid | |
|
|
|
|
100 |
50 Ordinary B shares having nominal of £1 issued during the period at par and rank parri passu.
Transactions with the entity's directors
31.01.2023 | |
£ | |
Amounts payable to key management | 2,411 |
These amounts are unsecured, repayable on demand and are provided interest free.