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REGISTERED NUMBER: 10689278 (England and Wales)















WOODALL PROPERTY COMPANY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024






WOODALL PROPERTY COMPANY LIMITED (REGISTERED NUMBER: 10689278)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024










Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


WOODALL PROPERTY COMPANY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: Mr R Woodall
Mrs T A Woodall
Mrs D M Baylis





REGISTERED OFFICE: 30 Innage Road
Birmingham
B31 2DU





REGISTERED NUMBER: 10689278 (England and Wales)





ACCOUNTANTS: Folkes Worton LLP
15-17 Church Street
Stourbridge
West Midlands
DY8 1LU

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
WOODALL PROPERTY COMPANY LIMITED (REGISTERED NUMBER: 10689278)


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Woodall Property Company Limited for the year ended 29 February 2024 which comprise the Income Statement, Statement of Financial Position, Statement of Changes in Equity 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Woodall Property Company Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Woodall Property Company Limited and state those matters that we have agreed to state to the Board of Directors of Woodall Property Company Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Woodall Property Company Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Woodall Property Company 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 Woodall Property Company Limited. You consider that Woodall Property Company Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Woodall Property Company 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.






Folkes Worton LLP
15-17 Church Street
Stourbridge
West Midlands
DY8 1LU


2 April 2024

WOODALL PROPERTY COMPANY LIMITED (REGISTERED NUMBER: 10689278)

STATEMENT OF FINANCIAL POSITION
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 3,145,000 2,692,577

CURRENT ASSETS
Cash at bank 41,818 20,807

CREDITORS
Amounts falling due within one year 5 542,616 519,359
NET CURRENT LIABILITIES (500,798 ) (498,552 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,644,202

2,194,025

CREDITORS
Amounts falling due after more than one
year

6

(2,026,090

)

(1,862,868

)

PROVISIONS FOR LIABILITIES (114,908 ) (63,271 )
NET ASSETS 503,204 267,886

CAPITAL AND RESERVES
Called up share capital 2,100 2,000
Revaluation reserve 8 489,869 301,607
Retained earnings 11,235 (35,721 )
SHAREHOLDERS' FUNDS 503,204 267,886

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

WOODALL PROPERTY COMPANY LIMITED (REGISTERED NUMBER: 10689278)

STATEMENT OF FINANCIAL POSITION - continued
29 FEBRUARY 2024


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 2 April 2024 and were signed on its behalf by:





Mr R Woodall - Director


WOODALL PROPERTY COMPANY LIMITED (REGISTERED NUMBER: 10689278)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024


1. STATUTORY INFORMATION

Woodall Property Company 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents net sales of goods/services, excluding value added tax

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

WOODALL PROPERTY COMPANY LIMITED (REGISTERED NUMBER: 10689278)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 2,692,577
Additions 220,000
Revaluations 232,423
At 29 February 2024 3,145,000
NET BOOK VALUE
At 29 February 2024 3,145,000
At 28 February 2023 2,692,577

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2022 372,354
Valuation in 2024 232,423
Cost 2,540,223
3,145,000

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,000 5,000
Taxation and social security 2,952 -
Other creditors 534,664 514,359
542,616 519,359

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 26,250 31,250
Other creditors 1,999,840 1,831,618
2,026,090 1,862,868

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 6,250 11,250
Other loans more 5yrs instal 1,999,840 1,831,618
2,006,090 1,842,868

WOODALL PROPERTY COMPANY LIMITED (REGISTERED NUMBER: 10689278)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


7. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Mortgages 1,999,840 1,831,618

8. RESERVES
Revaluation
reserve
£   
At 1 March 2023 301,607
Released during the year 188,262

At 29 February 2024 489,869