WOOD ROW PARK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
Woodrow Park Limited is a private company, limited by shares, domiciled in England and Wales, registration number 08793200. The registered office is Bowden Derra Park, Launceston, Cornwall PL15 7PU.
2.ACCOUNTING POLICIES
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BASIS OF PREPARATION OF FINANCIAL STATEMENTS
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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.
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TANGIBLE FIXED ASSETS AND DEPRECIATION
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Freehold land is shown at cost. It is the company's policy not to depreciate freehold land.
As at 31 July 2023, the company has net liabilities of £8,514. However, within creditors there is an amount payable to the parent company of £626,862, of which the director has indicated his ongoing support. The financial statements should be prepared on a going concern basis.
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CASH AND CASH EQUIVALENTS
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Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
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.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
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The average monthly number of employees, including directors, during the year was 1 (2022: 1).
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