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REGISTERED NUMBER: 11561797 (England and Wales)







FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

WOODWAY ENGINEERING LIMITED

WOODWAY ENGINEERING LIMITED (REGISTERED NUMBER: 11561797)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


WOODWAY ENGINEERING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTORS: D S Taylor
A G Pare
S Klesniks
P J Henson





REGISTERED OFFICE: Lower Road
Barnacle
Nr Shilton
Coventry
CV7 9LD





REGISTERED NUMBER: 11561797 (England and Wales)





AUDITORS: Prime
Chartered Accountants
Statutory Auditor
Corner Oak
1 Homer Road
Solihull
B91 3QG

WOODWAY ENGINEERING LIMITED (REGISTERED NUMBER: 11561797)

BALANCE SHEET
30 SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 271,458 130,868

CURRENT ASSETS
Stocks 1,974,794 1,993,724
Debtors 5 1,699,388 1,596,515
Cash at bank and in hand 2,138,128 6,021,783
5,812,310 9,612,022
CREDITORS
Amounts falling due within one year 6 488,947 1,645,763
NET CURRENT ASSETS 5,323,363 7,966,259
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,594,821

8,097,127

PROVISIONS FOR LIABILITIES 52,449 19,080
NET ASSETS 5,542,372 8,078,047

CAPITAL AND RESERVES
Called up share capital 5,000,000 5,000,000
Retained earnings 542,372 3,078,047
5,542,372 8,078,047

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 28 March 2024 and were signed on its behalf by:





D S Taylor - Director


WOODWAY ENGINEERING LIMITED (REGISTERED NUMBER: 11561797)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023


1. STATUTORY INFORMATION

Woodway Engineering 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. 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - Straight line over 15 years
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 20% on reducing balance
Computer equipment - at varying rates on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

WOODWAY ENGINEERING LIMITED (REGISTERED NUMBER: 11561797)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 33 (2022 - 31 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 October 2022 52,035 57,837 22,659
Additions 15,101 8,228 674
Disposals - - -
At 30 September 2023 67,136 66,065 23,333
DEPRECIATION
At 1 October 2022 27,724 17,162 6,106
Charge for year 6,591 4,891 1,723
Eliminated on disposal - - -
At 30 September 2023 34,315 22,053 7,829
NET BOOK VALUE
At 30 September 2023 32,821 44,012 15,504
At 30 September 2022 24,311 40,675 16,553

WOODWAY ENGINEERING LIMITED (REGISTERED NUMBER: 11561797)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 October 2022 85,182 25,252 242,965
Additions 77,070 112,669 213,742
Disposals (12,000 ) - (12,000 )
At 30 September 2023 150,252 137,921 444,707
DEPRECIATION
At 1 October 2022 37,287 23,818 112,097
Charge for year 24,010 31,021 68,236
Eliminated on disposal (7,084 ) - (7,084 )
At 30 September 2023 54,213 54,839 173,249
NET BOOK VALUE
At 30 September 2023 96,039 83,082 271,458
At 30 September 2022 47,895 1,434 130,868

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,513,154 1,527,288
Amounts owed by group undertakings - 2,552
Other debtors 186,234 66,675
1,699,388 1,596,515

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 219,690 1,253,076
Taxation and social security 181,033 314,933
Other creditors 88,224 77,754
488,947 1,645,763

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 756 1,934
Between one and five years 1,701 2,457
2,457 4,391

WOODWAY ENGINEERING LIMITED (REGISTERED NUMBER: 11561797)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023


8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Morgan Davies FCA
for and on behalf of Prime

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Woodway Holdings Limited.