Company No:
Contents
DIRECTORS | Mr D J Newell |
Mrs J Newell |
SECRETARY | Mr D J Newell |
REGISTERED OFFICE | Leanne House |
6 Avon Close | |
Weymouth | |
DT4 9UX | |
United Kingdom |
COMPANY NUMBER | 02829393 (England and Wales) |
CHARTERED ACCOUNTANTS | Albert Goodman LLP |
Leanne House | |
6 Avon Close | |
Weymouth | |
Dorset | |
DT4 9UX |
Note | 2023 | 2022 | ||
£ | £ | |||
Fixed assets | ||||
Tangible assets | 3 |
|
|
|
Investment property | 4 |
|
|
|
5,056,203 | 5,007,489 | |||
Current assets | ||||
Stocks | 5 |
|
|
|
Debtors | 6 |
|
|
|
Investments |
|
|
||
Cash at bank and in hand |
|
|
||
90,581 | 704,099 | |||
Creditors: amounts falling due within one year | 7 | (
|
(
|
|
Net current liabilities | (3,328,376) | (2,732,095) | ||
Total assets less current liabilities | 1,727,827 | 2,275,394 | ||
Provision for liabilities | 8 | (
|
(
|
|
Net assets |
|
|
||
Capital and reserves | ||||
Called-up share capital |
|
|
||
Fair value reserve |
|
|
||
Profit and loss account | (
|
(
|
||
Total shareholders' funds |
|
|
Directors' responsibilities:
The financial statements of Woodpecker Properties Limited (registered number:
Mr D J Newell
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Woodpecker Properties 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 Leanne House, 6 Avon Close, Weymouth, DT4 9UX, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and 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 £.
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. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the tax rates and laws that have been enacted or substantively enacted by the Balance Sheet date that are expected to apply when the timing differences reverse. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax liabilities are presented within provisions for liabilities on the balance sheet.
Plant and machinery |
|
Office equipment |
|
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.
The fair value is determined annually by the directors, on an open market value for existing use basis.
Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
2023 | 2022 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
|
|
The company is run and administered by one of the directors of the company for whom no formal contract of service is in place.
Plant and machinery | Office equipment | Total | |||
£ | £ | £ | |||
Cost | |||||
At 01 July 2022 |
|
|
|
||
At 30 June 2023 |
|
|
|
||
Accumulated depreciation | |||||
At 01 July 2022 |
|
|
|
||
Charge for the financial year |
|
|
|
||
At 30 June 2023 |
|
|
|
||
Net book value | |||||
At 30 June 2023 |
|
|
|
||
At 30 June 2022 |
|
|
|
Investment property | |
£ | |
Valuation | |
As at 01 July 2022 |
|
Additions | 4,500 |
Fair value movement | (602,300) |
Transfers to and from inventories | 647,800 |
As at 30 June 2023 |
|
Valuation
A full market valuation of investment property was completed by the director at the statement of financial position date. The basis of valuation was open market value.
Historic cost
If the investment properties had been accounted for cost accounting rules, the properties would have been measured as follows:
2023 | 2022 | ||
£ | £ | ||
Historic cost | 3,367,906 | 2,715,606 |
2023 | 2022 | ||
£ | £ | ||
Work in progress |
|
|
2023 | 2022 | ||
£ | £ | ||
Trade debtors |
|
|
|
Other debtors |
|
|
|
|
|
2023 | 2022 | ||
£ | £ | ||
Bank loans (secured) |
|
|
|
Trade creditors |
|
|
|
Taxation and social security |
|
|
|
Other creditors |
|
|
|
|
|
2023 | 2022 | ||
£ | £ | ||
Deferred tax |
|
|
Transactions with the entity's directors
The Directors loan accounts are repayable on demand and interest is charged on overdrawn balances exceeding £10,000 at the official HMRC rates.
At 1 July 2022 the balance owed to the directors was £895. During the year, £157,864 was advanced to the directors, and £194,773 was repaid by the directors. At 30 June 2022, the balance owed to the directors was £37,804.
At 1 July 2021 the balance owed by the directors was £67,976. During the year, £171,729 was advanced to the directors, and £240,600 was repaid by the directors. At 30 June 2022, the balance owed to the directors was £895.