Company Registration No. 01846736 (England and Wales)
Woodside Motors Limited
Unaudited accounts
for the year ended 31 January 2024
Woodside Motors Limited
Unaudited accounts
Contents
Woodside Motors Limited
Company Information
for the year ended 31 January 2024
Directors
Mr Philip Davies
Mrs Eileen Davies
Mr Anthony Davies
Company Number
01846736 (England and Wales)
Registered Office
44 CROXTETH DRIVE
RAINFORD
ST HELENS
MERSEYSIDE
WA11 8LA
Accountants
J F Balshaw & Co
20 Old Kiln Lane
Heaton
Bolton
Lancashire
BL1 5PD
Woodside Motors Limited
Statement of financial position
as at 31 January 2024
Tangible assets
3,135
3,888
Investments
130,977
130,977
Cash at bank and in hand
67,265
61,383
Creditors: amounts falling due within one year
(290,717)
(289,759)
Net current liabilities
(128,288)
(146,322)
Total assets less current liabilities
5,824
(11,457)
Provisions for liabilities
Net assets/(liabilities)
5,500
(11,800)
Called up share capital
2
2
Profit and loss account
5,498
(11,802)
Shareholders' funds
5,500
(11,800)
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 30 June 2024 and were signed on its behalf by
Mr Philip Davies
Director
Company Registration No. 01846736
Woodside Motors Limited
Notes to the Accounts
for the year ended 31 January 2024
Woodside Motors Limited is a private company, limited by shares, registered in England and Wales, registration number 01846736. The registered office is 44 CROXTETH DRIVE, RAINFORD, ST HELENS, MERSEYSIDE, WA11 8LA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Motor vehicles
25% reducing balance
Fixtures & fittings
15% reducing balance
Investments in shares in subsidiaries are included at cost less accumulated impairment losses.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Woodside Motors Limited
Notes to the Accounts
for the year ended 31 January 2024
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 February 2023
28,820
21,943
50,763
At 31 January 2024
28,820
21,943
50,763
At 1 February 2023
27,116
19,759
46,875
Charge for the year
426
327
753
At 31 January 2024
27,542
20,086
47,628
At 31 January 2024
1,278
1,857
3,135
At 31 January 2023
1,704
2,184
3,888
5
Investments
Subsidiary undertakings
Valuation at 1 February 2023
130,977
Valuation at 31 January 2024
130,977
Cost of shareholding in Boardman's Coaches Limited. Woodside Motors Limited holds 99.97% of the ordinary share capital of Boardman's Coaches Limited, a company involved in the retail of second hand cards and the provision of motor repairs services.
Amounts falling due within one year
7
Creditors: amounts falling due within one year
2024
2023
Amounts owed to group undertakings and other participating interests
242,578
239,261
Taxes and social security
521
2,376
Loans from directors
45,575
46,178
Facilities granted by the bank are secured by a fixed and floating charge on the assets of the company supported by an unlimited inter company composite guarantee dated 7th October 1984, between the Royal Bank of Scotland and Woodside Motors Limited, Woodside Motor (Services) Limited and Boardman's Coaches Limited.
8
Transactions with related parties
A balance of £46,178 (2022 £46,178) is owed to the directors.
Woodside Motors Limited
Notes to the Accounts
for the year ended 31 January 2024
9
Average number of employees
During the year the average number of employees was 5 (2023: 5).