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REGISTERED NUMBER: SC274080 (Scotland)















Unaudited Financial Statements

for the Year Ended 30 November 2023

for

Woodwick Limited

Woodwick Limited (Registered number: SC274080)






Contents of the Financial Statements
for the year ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Woodwick Limited

Company Information
for the year ended 30 November 2023







DIRECTORS: S J Bowman
A Farnell-Watson





SECRETARY: S J Bowman





REGISTERED OFFICE: Woodwick House
Evie
Orkney
KW17 2PQ





REGISTERED NUMBER: SC274080 (Scotland)





ACCOUNTANTS: Foubister & Bain
4 Broad Street
Kirkwall
Orkney
KW15 1NX

Woodwick Limited (Registered number: SC274080)

Balance Sheet
30 November 2023

2022 2023
£    £    Notes £    £   
FIXED ASSETS
286,987 Tangible assets 4 -

CURRENT ASSETS
5,775 Cash at bank 360,121

CREDITORS
80,312 Amounts falling due within one year 5 11,195
(74,537 ) NET CURRENT ASSETS/(LIABILITIES) 348,926

212,450
TOTAL ASSETS LESS CURRENT
LIABILITIES

348,926

CREDITORS

101,450
Amounts falling due after more than one
year

6

-
111,000 NET ASSETS 348,926

CAPITAL AND RESERVES
5 Called up share capital 5
110,995 Retained earnings 348,921
111,000 SHAREHOLDERS' FUNDS 348,926

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 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.

Woodwick Limited (Registered number: SC274080)

Balance Sheet - continued
30 November 2023


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 21 February 2024 and were signed on its behalf by:





S J Bowman - Director


Woodwick Limited (Registered number: SC274080)

Notes to the Financial Statements
for the year ended 30 November 2023

1. STATUTORY INFORMATION

Woodwick Limited is a private company, limited by shares , registered in Scotland. 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.

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
Tangible Assets have been stated at cost. Depreciation is provided on the following reducing balance basis (unless otherwise stated) to write off the cost of these assets over their estimated useful lives.

Land and buildings 1%

Plant & Machinery 20%

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Woodwick Limited (Registered number: SC274080)

Notes to the Financial Statements - continued
for the year ended 30 November 2023

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
At 1 December 2022 336,745
Disposals (336,745 )
At 30 November 2023 -
DEPRECIATION
At 1 December 2022 49,758
Eliminated on disposal (49,758 )
At 30 November 2023 -
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 286,987

Woodwick Limited (Registered number: SC274080)

Notes to the Financial Statements - continued
for the year ended 30 November 2023

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts - 9,600
Trade creditors - 2,320
Taxation 11,195 -
Other creditors - 68,392
11,195 80,312

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors - 101,450

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Directors and related entities have loaned the company a total of £ Nil (2022 £169,842).

All loans have been settled within the period.