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REGISTERED NUMBER: 04203079 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

WOBURN LODGE LIMITED

WOBURN LODGE LIMITED (REGISTERED NUMBER: 04203079)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WOBURN LODGE LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: P J Barker
H Barker





REGISTERED OFFICE: 2 Manor Farm Court
Old Wolverton Road
Old Wolverton
Milton Keynes
Buckinghamshire
MK12 5NN





REGISTERED NUMBER: 04203079 (England and Wales)





ACCOUNTANTS: Ad Valorem Accountancy Services Limited
Chartered Certified Accountants
2 Manor Farm Court
Old Wolverton Road
Old Wolverton
Buckinghamshire
MK12 5NN

WOBURN LODGE LIMITED (REGISTERED NUMBER: 04203079)

BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets 5 - -
Investment property 6 1,400,000 1,400,000
1,400,000 1,400,000

CURRENT ASSETS
Debtors 7 960 710
Cash at bank and in hand 45,849 33,004
46,809 33,714
CREDITORS
Amounts falling due within one year 8 11,286 10,450
NET CURRENT ASSETS 35,523 23,264
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,435,523

1,423,264

CREDITORS
Amounts falling due after more than one
year

9

(334,538

)

(335,922

)

PROVISIONS FOR LIABILITIES 11 (110,540 ) (84,000 )
NET ASSETS 990,445 1,003,342

CAPITAL AND RESERVES
Called up share capital 12 4 4
Revaluation reserve 13 520,815 547,355
Retained earnings 13 469,626 455,983
SHAREHOLDERS' FUNDS 990,445 1,003,342

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

WOBURN LODGE LIMITED (REGISTERED NUMBER: 04203079)

BALANCE SHEET - continued
31 OCTOBER 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 20 March 2024 and were signed on its behalf by:





P J Barker - Director


WOBURN LODGE LIMITED (REGISTERED NUMBER: 04203079)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023


1. STATUTORY INFORMATION

Woburn Lodge 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 (£).


The principal place of business is at the home of the director.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

TURNOVER
The company's turnover represents the value of rents receivable during the year, excluding value added tax. Revenue is recognised when income and associated costs can be measured reliably and future economic benefits are probable. Revenue is measured at the fair value of the consideration received or receivable for services provided in the normal course of business, net of discounts and value added tax.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost

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.

In accordance with standard accounting practice, investment properties are revalued annually and the aggregate surplus or deficit is recognised in the income statement. Although standard accounting practice does not require the use of a revaluation reserve, the directors believe that the use of such a reserve is necessary for a proper understanding of the company's financial position. Accordingly the investment property revaluation for the year is transferred to a revaluation reserve. No depreciation or amortisation is provided in respect of investment properties.

Although the Companies Act would normally require the systematic annual depreciation of fixed assets, the directors believe that the policy of not providing depreciation is necessary in order to give a true and fair view, since the current value of investment properties, and changes to that current value, are of prime importance rather than the calculation of systematic annual depreciation. Depreciation is only one of the many factors reflected in the annual valuation, and the amount which might otherwise have been included cannot be separately identified or quantified.


WOBURN LODGE LIMITED (REGISTERED NUMBER: 04203079)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


3. 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 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.

DEBTORS RECEIVABLE AND CREDITORS PAYABLE
Debtors and creditors with no stated interest rate and receivable or payable within or after one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

5. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£
COST
At 1 November 2022
and 31 October 2023 772
DEPRECIATION
At 1 November 2022
and 31 October 2023 772
NET BOOK VALUE
At 31 October 2023 -
At 31 October 2022 -

WOBURN LODGE LIMITED (REGISTERED NUMBER: 04203079)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


6. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 November 2022
and 31 October 2023 1,400,000
NET BOOK VALUE
At 31 October 2023 1,400,000
At 31 October 2022 1,400,000

Fair value at 31 October 2023 is represented by:
£
Valuation in 2009 110,291
Valuation in 2013 70,000
Valuation in 2015 364,373
Valuation in 2106 104,441
Valuation in 2017 (192,750 )
Valuation in 2021 122,500
Valuation in 2022 52,500
Cost 768,645
1,400,000

If the investment properties had not been revalued they would have been included at the following historical cost:

2023 2022
£ £
Cost 768,645 768,645

The investment properties were valued on an open market basis on 31 October 2023 by the director .

Corporation tax of approximately £110,540 (2022 - £84,000) would be payable if the investment properties were to be sold at their market value.

The director is of the opinion that the value of the investment properties has not changed materially from the balance sheet date to the date of signing these financial statements.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Other debtors 805 565
VAT 155 145
960 710

WOBURN LODGE LIMITED (REGISTERED NUMBER: 04203079)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£ £
Bank loans and overdrafts 1,000 1,000
Tax 5,077 4,402
Social security and other taxes 161 -
Directors' current accounts 3,748 3,748
Accrued expenses 1,300 1,300
11,286 10,450

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£ £
Bank loans - 1-2 years 1,000 1,000
Bank loans - 2-5 years 3,000 3,000
Bank loan 330,538 331,922
334,538 335,922

Amounts falling due in more than five years:

Repayable by instalments
Bank loan 330,538 331,922

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£ £
Bank loans 335,538 336,922

The bank loan is secured over the investment property owned by the company.

11. PROVISIONS FOR LIABILITIES
2023 2022
£ £
Deferred tax 110,540 84,000

Deferred tax
£
Balance at 1 November 2022 84,000
Increase in year 26,540
Balance at 31 October 2023 110,540

The provision for deferred taxation represents the taxation that would become due if the investment properties were sold at the valuation included in the balance sheet, calculated at 25%.

WOBURN LODGE LIMITED (REGISTERED NUMBER: 04203079)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023


12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
4 Ordinary £1 4 4

13. RESERVES
Retained Revaluation
earnings reserve Totals
£ £ £

At 1 November 2022 455,983 547,355 1,003,338
Deficit for the year (4,897 ) (4,897 )
Dividends (8,000 ) (8,000 )
Movement in deferred tax
provision

26,540

(26,540

)

-

At 31 October 2023 469,626 520,815 990,441