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REGISTERED NUMBER: 04302176 (England and Wales)



















Financial Statements

for the Year Ended 31 August 2023

for

WOODBOURNE HOMES LTD

WOODBOURNE HOMES LTD (REGISTERED NUMBER: 04302176)






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




Page

Balance Sheet 1

Notes to the Financial Statements 2


WOODBOURNE HOMES LTD (REGISTERED NUMBER: 04302176)

Balance Sheet
31 August 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 4,350 4,350
Tangible assets 6 9,482 11,985
13,832 16,335

CURRENT ASSETS
Stocks 7 4,630,746 4,589,065
Debtors 8 5,789,709 5,112,193
Cash at bank and in hand 1,205,975 297,513
11,626,430 9,998,771
CREDITORS
Amounts falling due within one year 9 2,266,123 636,442
NET CURRENT ASSETS 9,360,307 9,362,329
TOTAL ASSETS LESS CURRENT
LIABILITIES

9,374,139

9,378,664

CREDITORS
Amounts falling due after more than one
year

10

(2,843,462

)

(3,060,783

)

PROVISIONS FOR LIABILITIES (174 ) (293 )
NET ASSETS 6,530,503 6,317,588

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 6,530,403 6,317,488
SHAREHOLDERS' FUNDS 6,530,503 6,317,588

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 26 February 2024 and were signed on its behalf by:





Tanvier Singh Dulay - Director


WOODBOURNE HOMES LTD (REGISTERED NUMBER: 04302176)

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

1. STATUTORY INFORMATION

Woodbourne Homes Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 04302176

Registered office: Woodbourne House
10 Harborne Road
Edgbaston
Birmingham
West Midlands
B15 3AA

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.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.


WOODBOURNE HOMES LTD (REGISTERED NUMBER: 04302176)

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

2. ACCOUNTING POLICIES - continued
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.

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 6 (2022 - 5 ) .

4. AUDITORS' REMUNERATION
Period
1.4.21
Year Ended to
31.8.23 31.8.22
£    £   
Fees payable to the company's auditors for the audit of the company's
financial statements

3,600

3,600

5. INTANGIBLE FIXED ASSETS
Patents
and
licences
£   
COST
At 1 September 2022
and 31 August 2023 4,350
NET BOOK VALUE
At 31 August 2023 4,350
At 31 August 2022 4,350

WOODBOURNE HOMES LTD (REGISTERED NUMBER: 04302176)

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

6. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 September 2022
and 31 August 2023 5,404 20,168 27,217 52,789
DEPRECIATION
At 1 September 2022 3,722 15,250 21,832 40,804
Charge for year 420 737 1,346 2,503
At 31 August 2023 4,142 15,987 23,178 43,307
NET BOOK VALUE
At 31 August 2023 1,262 4,181 4,039 9,482
At 31 August 2022 1,682 4,918 5,385 11,985

7. STOCKS
2023 2022
£    £   
Stocks 4,441,536 4,589,065
Other Debtors 189,010 -
Woodbourne Group (GSC) Ltd 200 -
4,630,746 4,589,065

8. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Trade debtors 59,464 13,101
Woodbourne Group (Abbey Road) 47,618 47,618
Global Wines (UK) Ltd 7,255 7,255
Netw4rk Ltd 834 834
Woodbourne Ventures (SC) Ltd 200,000 -
Woodbourne Group (Saxon Way) 718,891 691,242
Woodbourne Group (Barlestone) 287,800 287,600
Investments 244,400 50,000
TG&T Loans 540,183 128,183
Full Moon UK ltd. Project 968,937 -
Woodbourne Developments Ltd 1,000 -
Apex House 6 Ltd 654,650 644,650
Intercompany - 250
Woodbourne Group (Mill Street) 1,399,295 1,299,295
Algar Grange Management 17,145 16,845
Prepayments 40,184 18,717
S455 TAX 16,530 16,530
Woodbourne Group (Black Lake) 510,523 510,523
Woodbourne Battensdrive - 1,304,550
5,714,709 5,037,193

WOODBOURNE HOMES LTD (REGISTERED NUMBER: 04302176)

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

8. DEBTORS - continued
2023 2022
£    £   
Amounts falling due after more than one year:
MINK CLOUD LTD 75,000 75,000

Aggregate amounts 5,789,709 5,112,193

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 195,622 184,375
Trade creditors 69,664 36,985
Woodbourne Group PLC 99,500 -
Corporation tax 85,917 181,925
Social security and other taxes - 298
Rent Received in Advance 21,649 20,077
Rent Deposits from tenants 34,779 28,130
Wages Control Account - 2,680
Let & Manage Ltd 16,130 16,130
Woodbourne Group (Dudley) Ltd 86,162 106,162
Full Moon UK ltd. Project - 38,063
Woodbourne Battensdrive 1,645,450 -
Directors' current accounts 40 7,837
Accrued expenses 11,210 13,780
2,266,123 636,442

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 388,737 333,000
Bank loans - 2-5 years 556,855 477,000
Bank loans more 5 yr by instal 1,343,606 1,696,519
Bank loans more 5 yrs non-inst 554,264 554,264
2,843,462 3,060,783

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 554,264 554,264

Repayable by instalments
Bank loans more 5 yr by instal 1,343,606 1,696,519

WOODBOURNE HOMES LTD (REGISTERED NUMBER: 04302176)

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

11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank overdrafts 4 2
Bank loans 3,039,080 3,245,156
3,039,084 3,245,158

The loans and bank overdraft are secured by a fixed and floating charge and a first legal charge on freehold properties held by the company.

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

The Report of the Auditors was unqualified.

Mr Kulwinder Singh Chawla (Senior Statutory Auditor)
for and on behalf of Brindleys Limited

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 31 August 2023 and the period ended 31 August 2022:

2023 2022
£    £   
Hardip Singh Dulay and Ravinder Kaur Dulay
Balance outstanding at start of year (7,837 ) (32,437 )
Amounts advanced 8,100 110,600
Amounts repaid (303 ) (86,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (40 ) (7,837 )

Dividend for the year is £100,000 (£86,000 in 2022)

WOODBOURNE HOMES LTD (REGISTERED NUMBER: 04302176)

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

14. RELATED PARTY DISCLOSURES

The following current assets are due from related companies with no terms are attached to the transactions

Woodbourne Group (GSC) Ltd = £200 (Nil in 2022)
Woodbourne Group (Abbey Road) Ltd = £47,618 (£ 47,618 in 2022)
Global Wines (UK) Ltd = £ 7,255 (£7,255 in 2022)
Woodbourne Ventures (SC) Ltd = £200,000 (Nil on 2022)
Netw4k Ltd = £ 834 (£ 834 in 2022)
Woodbourne Group (Mill Street) Ltd = £ 1,399,295 (£1,299,295 in 2022)
Woodbourne group(Saxon Way) Ltd = £ 718,891 (£691,242 in 2022)
Apex House 6 Ltd = £ 654,650 (£ 644,650 in 2022)
Woodbourne Battensdrive Ltd = Nil (£1,304,550 in 2022)
Woodbourne Group (Barlestone) Ltd = £ 287,600 (£ 287,600 in 2022)
Full Moon UK ltd = 968,937 (Nil in 2021)
Woodbourne Developments Ltd = £1,000 (£Nil in 2022)
Woodbourne Group (Black Lake) Ltd = £ 510,523 (£510,523 in 2022)
Algar Grange Management Ltd = £ 17.845 (£16,845 in 2022)
Mink Cloud Capital Ltd = £75,000 (75,000 in 2022)

The following current liabilities are due to related companies with no terms attached to the transactions

Woodbourne Group PLC = £99,500 (Nil on 2022)
Let and Manage Ltd. = £ 16,130 (£ 16,130 in 2022)
Full Moon (UK) Ltd = £ Nil (£38,063 in 2022)
Woodbourne Group (Dudley) Ltd £ 86,162 (106,162 in 2022)
Woodbourne Battensdrive ltd. = £1,645450 (Nil in 2022)