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REGISTERED NUMBER: 00782535 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

W.G.WOOD & SONS (BAKERS) LIMITED

W.G.WOOD & SONS (BAKERS) LIMITED (REGISTERED NUMBER: 00782535)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


W.G.WOOD & SONS (BAKERS) LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2023







DIRECTORS: Mr S E Wood
Mr J Wood





SECRETARY: Mr S E Wood





REGISTERED OFFICE: 23 Park Crescent
Enfield
Middlesex
EN2 6HT





REGISTERED NUMBER: 00782535 (England and Wales)





ACCOUNTANTS: KNIGHT WHEELER LIMITED
Chartered Accountants
54 Sun Street
Waltham Abbey
Essex
EN9 1EJ

W.G.WOOD & SONS (BAKERS) LIMITED (REGISTERED NUMBER: 00782535)

BALANCE SHEET
31 March 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 4 2,510 3,804
Investment property 5 875,000 875,000
877,510 878,804

CURRENT ASSETS
Debtors 6 3,125 1,258
Cash at bank 115,059 102,917
118,184 104,175
CREDITORS
Amounts falling due within one year 7 (28,368 ) (25,759 )
NET CURRENT ASSETS 89,816 78,416
TOTAL ASSETS LESS CURRENT
LIABILITIES

967,326

957,220

CREDITORS
Amounts falling due after more than one
year

8

(339,383

)

(339,485

)

PROVISIONS FOR LIABILITIES (99,781 ) (99,781 )
NET ASSETS 528,162 517,954

CAPITAL AND RESERVES
Called up share capital 60,000 60,000
Inv prop reserve - non distrib 9 548,801 548,801
Retained earnings 9 (80,639 ) (90,847 )
SHAREHOLDERS' FUNDS 528,162 517,954

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

W.G.WOOD & SONS (BAKERS) LIMITED (REGISTERED NUMBER: 00782535)

BALANCE SHEET - continued
31 March 2023


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 26 October 2023 and were signed on its behalf by:




Mr S E Wood - Director



Mr J Wood - Director


W.G.WOOD & SONS (BAKERS) LIMITED (REGISTERED NUMBER: 00782535)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

W.G.Wood & Sons (Bakers) 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.

The financial statements are presented in sterling (£) which is also the functional currency for the company and rounded to the nearest £.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section1A "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, as modified by the revaluation of certain assets.

The financial statements are presented in sterling (£) which is also the functional currency for the company and rounded to the nearest £.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents rental income from residential and commercial property.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on cost

Investment property
The company's investment properties have been valued at their open market value. The valuation of the investment properties is undertaken annually by the company directors with periodic external open market valuations. Any change in the value of the properties is reflected within the profit and loss amount for the period.

Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences.

Pension costs and other post-retirement benefits
The company operates a pension scheme for the benefit of a director. The funds of the scheme are administered by an insurance company and are separate from the company.

3. EMPLOYEES AND DIRECTORS

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

W.G.WOOD & SONS (BAKERS) LIMITED (REGISTERED NUMBER: 00782535)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 April 2022
and 31 March 2023 8,633
DEPRECIATION
At 1 April 2022 4,829
Charge for year 1,294
At 31 March 2023 6,123
NET BOOK VALUE
At 31 March 2023 2,510
At 31 March 2022 3,804

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 875,000
NET BOOK VALUE
At 31 March 2023 875,000
At 31 March 2022 875,000

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2014 246,020
Valuation in 2015 177,500
Valuation in 2018 80,357
Valuation in 2019 144,705
Cost 226,418
875,000

If the investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 226,418 226,418

The investment properties were valued on an open market basis on 12 September 2018 by De Villiers Commercial Surveyors. .

W.G.WOOD & SONS (BAKERS) LIMITED (REGISTERED NUMBER: 00782535)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 3,125 176
Directors' loan accounts - 1,082
3,125 1,258

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023 2022
£ £
Trade Creditors548
Bank loan16,56016,560
Directors' loan accounts4,185574
Accruals7,0758,625
28,36825,759

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 339,383 339,485

9. RESERVES

Investment Retained Total
Property Earnings
Revaluation
Reserve
_________________________________

£ £ £
At 1st April 2022 548,801 (80,639 ) 468,162
Revaluation of property in the year - - -
Deferred taxation on valuation - - -
Net result for the year - 10,208 10,208

_________ ________ ________

At 31 March 2023 548,801 (70,431) 478,370
========= ======== ========


The investment property revaluation reserve is a non-distributable reserve.