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REGISTERED NUMBER: 05255189 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 May 2023

for

Woodcock Holmes Estate Agents Limited

Woodcock Holmes Estate Agents Limited (Registered number: 05255189)

Contents of the Financial Statements
for the Year Ended 31 May 2023










Page

Company information 1

Chartered accountants' report 2

Statement of financial position 3 to 4

Notes to the financial statements 5 to 8


Woodcock Holmes Estate Agents Limited

Company Information
for the Year Ended 31 May 2023







Directors: N Holmes
A Woodcock





Secretary: N Holmes





Registered office: Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB





Business address: 20a Tesla Court
Innovation Way
Lynch Wood
Peterborough
Cambs
PE2 6FL





Registered number: 05255189 (England and Wales)





Accountants: Moore Thompson
Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Woodcock Holmes Estate Agents Limited


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 Woodcock Holmes Estate Agents Limited for the year ended 31 May 2023 which comprise the Statement of income and retained earnings, Statement of financial position 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 Woodcock Holmes Estate Agents Limited, as a body, in accordance with the terms of our engagement letter dated 15 October 2018. Our work has been undertaken solely to prepare for your approval the financial statements of Woodcock Holmes Estate Agents Limited and state those matters that we have agreed to state to the Board of Directors of Woodcock Holmes Estate Agents 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 Woodcock Holmes Estate Agents Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Woodcock Holmes Estate Agents 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 loss of Woodcock Holmes Estate Agents Limited. You consider that Woodcock Holmes Estate Agents 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 Woodcock Holmes Estate Agents 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.






Moore Thompson
Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB


27 March 2024

Woodcock Holmes Estate Agents Limited (Registered number: 05255189)

Statement of Financial Position
31 May 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Intangible assets 5 5,000 8,000

Current assets
Debtors 6 226,999 177,434
Cash at bank 25 32,136
227,024 209,570
Creditors
Amounts falling due within one year 7 201,521 173,062
Net current assets 25,503 36,508
Total assets less current liabilities 30,503 44,508

Creditors
Amounts falling due after more than one
year

8

36,578

43,202
Net (liabilities)/assets (6,075 ) 1,306

Capital and reserves
Called up share capital 9 1,000 1,000
Retained earnings (7,075 ) 306
Shareholders' funds (6,075 ) 1,306

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

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

Woodcock Holmes Estate Agents Limited (Registered number: 05255189)

Statement of Financial Position - continued
31 May 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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 March 2024 and were signed on its behalf by:




A Woodcock - Director



N Holmes - Director


Woodcock Holmes Estate Agents Limited (Registered number: 05255189)

Notes to the Financial Statements
for the Year Ended 31 May 2023


1. Statutory information

Woodcock Holmes Estate Agents 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. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared on the historical cost basis.

Revenue recognition
The turnover shown in the profit and loss account represents the invoice value of services provided during the year, exclusive of Value Added Tax.

Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business.

Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life.

Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Goodwill- 5% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Financial instruments
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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.


Woodcock Holmes Estate Agents Limited (Registered number: 05255189)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023


3. Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset.

Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Defined contribution plans
The company operates a defined contribution pension scheme for directors. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

Going concern
At the balance sheet date, current liabilities exceed current assets by £6,075. This is due to amounts owed to the directors being included within creditors due within one year. However, the directors have indicated that they will not withdraw from these accounts in preference to other creditors, that they have operated within their bank facilities and that the accounts have been prepared on a going concern basis.

4. Employees and directors

The average number of employees during the year was 3 (2022 - 4 ) .

Woodcock Holmes Estate Agents Limited (Registered number: 05255189)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023


5. Intangible fixed assets
Goodwill
£   
Cost
At 1 June 2022
and 31 May 2023 60,000
Amortisation
At 1 June 2022 52,000
Charge for year 3,000
At 31 May 2023 55,000
Net book value
At 31 May 2023 5,000
At 31 May 2022 8,000

6. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 225,588 176,098
Prepayments 1,411 1,336
226,999 177,434

7. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 10,730 10,000
Trade creditors 39,200 18,660
Corporation tax 16,720 17,154
PAYE and NIC 14,773 10,459
Other creditors 34,776 41,632
VAT 15,705 25,837
Directors' current accounts 64,087 43,152
Accruals 5,530 6,168
201,521 173,062

Included within bank loans and overdrafts is a Bounce Back loan payable over ten years. Interest is chargeable twelve months after the loan being drawn. This loan is 100% government backed.

The remaining amounts within bank loans and overdrafts are secured on the assets of the company.

Included within other creditors is and amount of £32,991 (2021: £40,957) relating to loans. These amounts are secured on the assets of the company.

Woodcock Holmes Estate Agents Limited (Registered number: 05255189)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023


8. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans 36,578 30,494
Other creditors - 12,708
36,578 43,202

Included within bank loans and overdrafts is a Bounce Back loan payable over ten years. Interest is chargeable twelve months after the loan being drawn. This loan is 100% government backed.

The amount included in other creditors relates to other loans. This amounts is secured on the assets of the company.

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
500 Ordinary A £1 500 500
500 Ordinary B £1 500 500
1,000 1,000