Caseware UK (AP4) 2022.0.179 2022.0.179 2023-03-312023-03-31trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.52022-04-01falseProperty rentals4true 07958275 2022-04-01 2023-03-31 07958275 2021-04-01 2022-03-31 07958275 2023-03-31 07958275 2022-03-31 07958275 c:Director1 2022-04-01 2023-03-31 07958275 c:Director2 2022-04-01 2023-03-31 07958275 c:Director3 2022-04-01 2023-03-31 07958275 c:Director4 2022-04-01 2023-03-31 07958275 c:RegisteredOffice 2022-04-01 2023-03-31 07958275 d:Buildings 2022-04-01 2023-03-31 07958275 d:Buildings d:ShortLeaseholdAssets 2022-04-01 2023-03-31 07958275 d:Buildings d:ShortLeaseholdAssets 2023-03-31 07958275 d:Buildings d:ShortLeaseholdAssets 2022-03-31 07958275 d:PlantMachinery 2022-04-01 2023-03-31 07958275 d:PlantMachinery 2023-03-31 07958275 d:PlantMachinery 2022-03-31 07958275 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07958275 d:FurnitureFittings 2022-04-01 2023-03-31 07958275 d:FurnitureFittings 2023-03-31 07958275 d:FurnitureFittings 2022-03-31 07958275 d:FurnitureFittings d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07958275 d:OwnedOrFreeholdAssets 2022-04-01 2023-03-31 07958275 d:CurrentFinancialInstruments 2023-03-31 07958275 d:CurrentFinancialInstruments 2022-03-31 07958275 d:Non-currentFinancialInstruments 2023-03-31 07958275 d:Non-currentFinancialInstruments 2022-03-31 07958275 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 07958275 d:CurrentFinancialInstruments d:WithinOneYear 2022-03-31 07958275 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 07958275 d:Non-currentFinancialInstruments d:AfterOneYear 2022-03-31 07958275 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 07958275 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-03-31 07958275 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 07958275 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-03-31 07958275 d:ShareCapital 2023-03-31 07958275 d:ShareCapital 2022-03-31 07958275 d:RetainedEarningsAccumulatedLosses 2023-03-31 07958275 d:RetainedEarningsAccumulatedLosses 2022-03-31 07958275 c:OrdinaryShareClass1 2022-04-01 2023-03-31 07958275 c:OrdinaryShareClass1 2023-03-31 07958275 c:OrdinaryShareClass1 2022-03-31 07958275 c:OrdinaryShareClass2 2022-04-01 2023-03-31 07958275 c:OrdinaryShareClass2 2023-03-31 07958275 c:OrdinaryShareClass2 2022-03-31 07958275 c:FRS102 2022-04-01 2023-03-31 07958275 c:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 07958275 c:FullAccounts 2022-04-01 2023-03-31 07958275 c:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 07958275 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 07958275 d:AcceleratedTaxDepreciationDeferredTax 2022-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 07958275










WOOD FARM COTTAGES LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2023

 
WOOD FARM COTTAGES LIMITED
 
 
COMPANY INFORMATION


Directors
Mr C Jacob 
Mrs D Jacob 
Miss E Jacob 
Mr R Elsby 




Registered number
07958275



Registered office
Wood Farm
Plumstead Road

Edgefield

Melton Constable

Norfolk

NR24 2AQ




Accountants
MA Partners LLP
Chartered Accountants

12 Church Street

Cromer

Norfolk

NR27 9ER





 
WOOD FARM COTTAGES LIMITED
 

CONTENTS



Page
Accountants' Report
 
1
Balance Sheet
 
2 - 3
Notes to the Financial Statements
 
4 - 10


 
WOOD FARM COTTAGES LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF WOOD FARM COTTAGES LIMITED
FOR THE YEAR ENDED 31 MARCH 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Wood Farm Cottages Limited for the year ended 31 March 2023 which comprise the Balance Sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of Directors of Wood Farm Cottages Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Wood Farm Cottages Limited  and state those matters that we have agreed to state to the Board of Directors of Wood Farm Cottages Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Wood Farm Cottages Limited and its Board of Directors, as a body, for our work or for this report. 

It is your duty to ensure that Wood Farm Cottages Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Wood Farm Cottages Limited. You consider that Wood Farm Cottages Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Wood Farm Cottages Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



MA Partners LLP
 
Chartered Accountants
  
12 Church Street
Cromer
Norfolk
NR27 9ER
6 November 2023
Page 1

 
WOOD FARM COTTAGES LIMITED
REGISTERED NUMBER: 07958275

BALANCE SHEET
AS AT 31 MARCH 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
92,220
98,245

  
92,220
98,245

Current assets
  

Debtors: amounts falling due within one year
 5 
17,778
74,816

Cash at bank and in hand
  
78,783
67,892

  
96,561
142,708

Creditors: amounts falling due within one year
 6 
(149,831)
(169,014)

Net current liabilities
  
 
 
(53,270)
 
 
(26,306)

Total assets less current liabilities
  
38,950
71,939

Creditors: amounts falling due after more than one year
 7 
(20,623)
(28,517)

Provisions for liabilities
  

Deferred tax
 9 
(17,521)
(18,666)

  
 
 
(17,521)
 
 
(18,666)

Net assets
  
806
24,756


Capital and reserves
  

Share capital
  
100
100

Profit and loss account
  
706
24,656

  
806
24,756


Page 2

 
WOOD FARM COTTAGES LIMITED
REGISTERED NUMBER: 07958275
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 6 November 2023.




Mr C Jacob
Mrs D Jacob
Director
Director

The notes on pages 4 to 10 form part of these financial statements.

Page 3

 
WOOD FARM COTTAGES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1.


General information

Wood Farm Cottages Limited is a private company, limited by shares, incorporated and domiciled in England and Wales. The Company's registered office is Wood Farm, Plumstead Road, Edgefield, Melton Constable, Norfolk, NR24 2AQ.
The Company's principal activities continue to be that of property rentals.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.



 
2.2

Revenue

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Turnover comprises revenue recognised by the company in respect of good and services supplied during the year, exclusive of Value Added Tax and trade discounts.

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
WOOD FARM COTTAGES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)


2.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, .

Depreciation is provided on the following basis:

Borehole
-
5%
Straight Line Method
Leasehold improvements
-
2%
Straight Line Method
Plant and machinery
-
5%
Straight Line Method
Cottage Equipment
-
25%
Reducing Balance Method

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.5

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 5

 
WOOD FARM COTTAGES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2022 - 4).

Page 6

 
WOOD FARM COTTAGES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

4.


Tangible fixed assets





Leasehold improvem'ts
Plant and machinery
Cottage Equipment
Total

£
£
£
£



Cost or valuation


At 1 April 2022
5,216
117,705
62,206
185,127


Additions
-
-
7,755
7,755



At 31 March 2023

5,216
117,705
69,961
192,882



Depreciation


At 1 April 2022
312
47,813
38,756
86,881


Charge for the year on owned assets
104
5,885
7,792
13,781



At 31 March 2023

416
53,698
46,548
100,662



Net book value



At 31 March 2023
4,800
64,007
23,413
92,220



At 31 March 2022
4,903
69,892
23,450
98,245

Page 7

 
WOOD FARM COTTAGES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

5.


Debtors

2023
2022
£
£


Trade debtors
13,200
63,500

Other debtors
3,712
7,412

Prepayments and accrued income
866
3,904

17,778
74,816



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
7,894
7,700

Trade creditors
-
260

Corporation tax
4,413
2,951

Other taxation and social security
302
-

Other creditors
73,304
47,799

Accruals and deferred income
63,918
110,304

149,831
169,014



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
20,623
28,517

20,623
28,517


Page 8

 
WOOD FARM COTTAGES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
7,894
7,700


7,894
7,700

Amounts falling due 1-2 years

Bank loans
8,096
7,894


8,096
7,894

Amounts falling due 2-5 years

Bank loans
12,527
20,623


12,527
20,623


28,517
36,217


Page 9

 
WOOD FARM COTTAGES LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

9.


Deferred taxation




2023


£






At beginning of year
(18,666)


Charged to profit or loss
1,145



At end of year
(17,521)

The provision for deferred taxation is made up as follows:

2023
2022
£
£


Accelerated capital allowances
(17,521)
(18,666)

(17,521)
(18,666)


10.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



50 (2022 - 50) Ordinary A Shares shares of £1.00 each
50
50
50 (2022 - 50) Ordinary B Shares shares of £1.00 each
50
50

100

100


 
Page 10