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REGISTERED NUMBER: 06379521 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31st March 2023

for

Woodvale Developments Limited

Woodvale Developments Limited (Registered number: 06379521)

Contents of the Financial Statements
for the Year Ended 31st March 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Woodvale Developments Limited

Company Information
for the Year Ended 31st March 2023







DIRECTORS: M K Payne
C J Roper





SECRETARY: C J Roper





REGISTERED OFFICE: Sovereign House
155 High Street
Aldershot
Hampshire
GU11 1TT





REGISTERED NUMBER: 06379521 (England and Wales)





ACCOUNTANTS: Whiteleys
Chartered Certified Accountants
Sovereign House
155 High Street
Aldershot
Hampshire
GU11 1TT

Woodvale Developments Limited (Registered number: 06379521)

Balance Sheet
31st March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 20,465 25,331
Investment property 6 213,000 213,000
233,465 238,331

CURRENT ASSETS
Stocks 350 750
Debtors 7 3,520 14,258
Cash at bank 42,100 37,092
45,970 52,100
CREDITORS
Amounts falling due within one year 8 105,104 79,422
NET CURRENT LIABILITIES (59,134 ) (27,322 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

174,331

211,009

CREDITORS
Amounts falling due after more than one
year

9

(4,650

)

(27,742

)

PROVISIONS FOR LIABILITIES (14,362 ) (15,296 )
NET ASSETS 155,319 167,971

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 10 81,236 81,236
Retained earnings 73,983 86,635
SHAREHOLDERS' FUNDS 155,319 167,971

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

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

Woodvale Developments Limited (Registered number: 06379521)

Balance Sheet - continued
31st 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 19th October 2023 and were signed on its behalf by:





M K Payne - Director


Woodvale Developments Limited (Registered number: 06379521)

Notes to the Financial Statements
for the Year Ended 31st March 2023


1. STATUTORY INFORMATION

Woodvale Developments 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 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity.

Tangible fixed assets
Tangible fixed assets are carried at cost less accumulated depreciation and accumulated impairment losses.

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over their estimated useful lives as follows:

Motor vehicles-25% reducing balance
Tools and equipment-25% reducing balance

On disposal, the difference between the net disposal proceeds and the carrying amount of the item sold is recognised in profit or loss.

Investment property
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.

Stocks
Stocks are measured at the lower of cost and selling price less cost to complete and sell.

Cost is calculated on a first in, first out basis and includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Woodvale Developments Limited (Registered number: 06379521)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2023


3. ACCOUNTING POLICIES - continued

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Woodvale Developments Limited (Registered number: 06379521)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2023


3. ACCOUNTING POLICIES - continued

Impairment of non-financial assets
At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If there is an indication of possible impairment, the recoverable amount of any asset or group of related assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced to its recoverable amount and an impairment loss is recognised immediately in profit or loss.

Stocks are also assessed for impairment at each reporting date. The carrying amount of each item of stock, or group of similar items, is compared with its selling price less costs to complete and sell. If an item of stock or group of similar items is impaired, its carrying amount is reduced to selling price less costs to complete and sell, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss is subsequently reversed, the carrying amount of the asset or group of related assets is increased to the revised estimate of its recoverable amount, but not to exceed the amount that would have been determined had no impairment loss been recognised for the asset or group of related assets in prior periods. A reversal of an impairment loss is recognised immediately in profit or loss.

4. EMPLOYEES AND DIRECTORS

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

5. TANGIBLE FIXED ASSETS
Motor Tools and
vehicles equipment Totals
£    £    £   
COST
At 1st April 2022 47,613 1,293 48,906
Additions - 336 336
Transfer to ownership 19,502 - 19,502
At 31st March 2023 67,115 1,629 68,744
DEPRECIATION
At 1st April 2022 23,235 340 23,575
Charge for year 4,876 326 5,202
Transfer to ownership 19,502 - 19,502
At 31st March 2023 47,613 666 48,279
NET BOOK VALUE
At 31st March 2023 19,502 963 20,465
At 31st March 2022 24,378 953 25,331

Woodvale Developments Limited (Registered number: 06379521)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2023


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1st April 2022 47,613
Transfer to ownership (28,111 )
At 31st March 2023 19,502
DEPRECIATION
At 1st April 2022 23,235
Charge for year 4,876
Transfer to ownership (28,111 )
At 31st March 2023 -
NET BOOK VALUE
At 31st March 2023 19,502
At 31st March 2022 24,378

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st April 2022
and 31st March 2023 213,000
NET BOOK VALUE
At 31st March 2023 213,000
At 31st March 2022 213,000

The investment property was purchased in 2009. The fair value of the property at March 2020 has been arrived at on the basis of a valuation carried out at that date by Mr C Roper, a director of the company who is not a professionally qualified valuer.

The valuation of the investment property was arrived at by reference to market evidence of transaction prices for similar properties in its location and takes into account the rental market in the area where the property is situated.

Fair value at 31st March 2023 is represented by:
£   
Valuation in 2020 91,706
Cost 121,294
213,000

Woodvale Developments Limited (Registered number: 06379521)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2023


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 874 3,888
Other debtors 2,646 10,370
3,520 14,258

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 3,090 4,099
Hire purchase contracts - 6,651
Trade creditors 5,805 6,780
Taxation and social security 19,937 22,696
Other creditors 76,272 39,196
105,104 79,422

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 4,650 27,742

10. RESERVES
Fair
value
reserve
£   
At 1st April 2022
and 31st March 2023 81,236