smallAccCompHo_0921.xslt
Company Registration No. 10102648 (England and Wales)
NEEDWOOD GROUP LTD
Financial Statements
for the Period from 01 May 2022 to 30 April 2023

NEEDWOOD GROUP LTD

Financial Statements for the period ending 30 April 2023

NEEDWOOD GROUP LTD

Financial Statements for the period ending 30 April 2023

Notes to the Accounts

1. Statutory Information
NEEDWOOD GROUP LTD is a private company, limited by shares, registered in England and Wales, registration number 10102648.
2. Accounting Policies
Basis of preparing the Financial Statements
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Presentation Currency
The accounts are presented in £ sterling.
Turnover
Turnover is measure at fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and value added tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the cost incurred in respect of the transactions can be measured reliably.

NEEDWOOD GROUP LTD

Financial Statements for the period ending 30 April 2023

Notes to the Accounts

Tangible Fixed Asset Policy
Tangible assets are initially recorded at cost and subsequently stated at cost less any accumulated depreciation. Depreciation is calculated so as to write off the cost or valuation of asset, less its residual value, over the useful economic life of that asset as follows - Motor Vehicles - 25% reducing balance.

NEEDWOOD GROUP LTD

Financial Statements for the period ending 30 April 2023

Notes to the Accounts

Stock
Work in progress or stock is measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of land, costs of conversion, cost of finance and other costs in constructing the properties ready for sale.

NEEDWOOD GROUP LTD

Financial Statements for the period ending 30 April 2023

Notes to the Accounts

3. Employees
Average number of employees, including directors, during the year was as follows:
2023 1
2022 1
4. Principal Activity
The company develops building projects

NEEDWOOD GROUP LTD

Financial Statements for the period ending 30 April 2023

Notes to the Accounts

5. Fixed Assets
Motor Vehicles Total
Cost or valuation £ £
At 01/05/2022 - -
Additions 62,350 62,350
At 30/04/2023 62,350 62,350
Depreciation
At 01/05/2022 - -
Charge for the year 7,793 7,793
At 30/04/2023 7,793 7,793
Net Book Value
At 30/04/2023 54,557 54,557
At 30/04/2022 - -