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REGISTERED NUMBER: 10853713 (England and Wales)











GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023

FOR

WOODLANDS GROUP HOLDINGS LIMITED

WOODLANDS GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10853713)






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




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 5

Report of the Independent Auditors 7

Consolidated Income Statement 11

Consolidated Other Comprehensive Income 12

Consolidated Balance Sheet 13

Company Balance Sheet 14

Consolidated Statement of Changes in Equity 15

Company Statement of Changes in Equity 16

Consolidated Cash Flow Statement 17

Notes to the Consolidated Cash Flow Statement 18

Notes to the Consolidated Financial Statements 20


WOODLANDS GROUP HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTORS: J Woodlands
Mrs J Woodlands
A Faratro
G J Hall



REGISTERED OFFICE: Unit 20
Optima Park
Thomas Road
Crayford
Kent
DA1 4QX



REGISTERED NUMBER: 10853713 (England and Wales)



SENIOR STATUTORY
AUDITOR:
Joanne Brown



AUDITORS: Sargeant Partnership LLP
Chartered Accountants
and Statutory Auditors
5 White Oak Square
London Road
Swanley
Kent
BR8 7AG

WOODLANDS GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10853713)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 OCTOBER 2023

The directors present their strategic report for the financial year ended 31 October 2023.

REVIEW OF BUSINESS
The group provides temporary and semi-permanent site services to a number of construction projects throughout London, the South East, the Midlands and across Europe. The vast majority of the group's operations relate to Electrical and Mechanical services, but the group also provides other services such as security systems, underground utilities and data services. The group operates from its head office and training facility in Crayford, Kent as well as its office in central London and other locations around Europe.

The financial year to 31 October 2023 has seen a further improvement in trading conditions from the previous accounting period. As a result, the group has seen further growth in turnover in this financial year totalling £19,238,255, an increase of 9.82%. During the year, prolonged high inflation along with The Bank of England's Monetary Policy Committee voting to further increase interest rates has inevitably caused some margin pressures. Despite this, the group has largely been able to mitigate against rising costs to maintain a level of profitability in keeping with recent years. As a result, the group continues to increase its available working capital whilst also further reducing its gearing.

In the opinion of the directors, their client led approach and delivery of a fully compliant, quality service continues to bring success in securing future works, most notably in the award of several government infrastructure projects. Whilst the majority of the group's client base are predominately longstanding key clients, it has also been successful in diversifying its portfolio in obtaining works with new clients. The directors are pleased with the continued progress in delivering their business plan and expect the financial performance and robustness of the business to continue to improve further.

The group continues to promote innovation in developing energy saving, eco-friendly products and solutions for its clients. With increasing focus on environment factors, these products enable clients to act ethically in reducing the carbon footprint of construction as well as generating substantial cost savings and enhancing site safety. As a gold member of the Supply Chain Sustainability School, an award-winning industry wide collaboration, the group is invested in delivering a sustainable future.

The directors believe investing in their workforce will ensure high levels of competence and will continue to enhance standards of work. The health and wellbeing of the workforce remains a key area in which all staff have access to a qualified inhouse nurse offering health monitoring, walk in clinics and drugs & alcohol testing. They also remain committed to developing the next generation of construction workers partnering with selected clients and organisations to provide apprenticeship opportunities for local people.

Social media platforms give the group the opportunity to promote local community projects and charitable events, as well as supporting industry initiatives such as women in construction and national apprenticeship week.

PRINCIPAL RISKS AND UNCERTAINTIES
The principal risks and uncertainties which are likely to affect the group are expected to be due to future economic and political developments and how this will affect the wider Construction industry.
The directors are fully aware that prolonged high inflation and the conflict in Ukraine will continue to impact costs across the business. However, given these are challenges faced throughout the industry it's likely that these price pressures will be felt across the board and so are unlikely to have a detrimental effect on the business. The group continues to work closely with its key supply chain partners in order to identify and forecast potential price rises so that where possible it can mitigate against these increases.


WOODLANDS GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10853713)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 OCTOBER 2023

One of the group's primary material costs is cable, the cost of which is linked to wholesale copper prices. As the price of copper is determined by several economic factors globally, the group manages this risk through constant monitoring and forecasting of copper prices. Although the current economic climate has caused some volatility in the commodities markets, the directors consider current controls to be adequate in managing any risk. The group has previously explored the possibility of limiting its exposure by hedging against potential price rises; however, this has not proved to be financially viable.

The nature of construction dictates that there will always be emphasis on the management of health and safety risks. The group continues to embrace a health and safety culture by investing in key staff and training of its workforce such as mental first aiders to maintain good working standards and procedures across the group.

The directors remain vigilant, especially surrounding future economic factors and the recent change of government but are confident that where possible adequate procedures/controls are in place to identify and manage risks to an acceptable level.

FUTURE DEVELOPMENTS
The new labour government have vowed to "get Britain building" as part of their plan to deliver economic stability and boost growth which has been broadly welcomed across the construction industry.

With inflation having been reduced to The Bank of England's target of 2%, it is widely expected that the Bank's Monetary Policy Committee will start to reduce interest rates before the end of this year.

The directors anticipate that these factors will remove many of the barriers which led to many projects previously being delayed or suspended and expect the outlook for the remainder of 2024 and 2025 to continue to improve.

The group has secured a number of projects with an increasingly diverse client base which will maintain core business levels for several years to come.

KEY PERFORMANCE INDICATORS
The directors monitor a number of key performance indicators to enable them to measure the financial performance and standing of the group:

Profitability
Gross Profit % 17.02% (2022: 21.09%)
Profit before Tax % 0.62% (2022: 3.95%)
EBITDA 2.17% (2022: 5.41%)
ROCE 6.03% (2022: 13.74%)

Liquidity
Current Ratio 1.36 (2022: 1.41)
Quick Ratio 1.30 (2022: 1.36)

ON BEHALF OF THE BOARD:




Mrs J Woodlands - Director



WOODLANDS GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10853713)

GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 31 OCTOBER 2023

31 July 2024

WOODLANDS GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10853713)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 OCTOBER 2023

The directors present their report with the financial statements of the company and the group for the year ended 31 October 2023.

DIVIDENDS
The total distribution of dividends for the period ended 31 October 2023 will be £93,333.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 November 2022 to the date of this report.

J Woodlands
Mrs J Woodlands

Other changes in directors holding office are as follows:

A Faratro - appointed 1 January 2023
G J Hall - appointed 1 January 2023

DONATIONS
There were donations in the year totalling £3,912.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

WOODLANDS GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10853713)

REPORT OF THE DIRECTORS
FOR THE YEAR ENDED 31 OCTOBER 2023


AUDITORS
The auditors, Sargeant Partnership LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





Mrs J Woodlands - Director


31 July 2024

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
WOODLANDS GROUP HOLDINGS LIMITED

Opinion
We have audited the financial statements of Woodlands Group Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 October 2023 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 31 October 2023 and of the group's profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
WOODLANDS GROUP HOLDINGS LIMITED


Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page five, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
WOODLANDS GROUP HOLDINGS LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud

During the audit we identify and assess the risk of material misstatements of the financial statements due to fraud or error; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud and error; and to respond appropriately to those risks.

In identifying and assessing risks of material misstatement in respect of irregularities including, fraud and non-compliance with laws and regulations, our procedures included the following:

- We obtained an understanding of the legal and regulatory frameworks applicable to the group and the sector in which they operate. We determined that the following laws and regulations were most significant: the Companies Act 2006, UK GAAP, UK corporate taxation laws and the Data Protection Act.

- We obtained an understanding of how the group is complying with those legal and regulatory frameworks by making inquiries to the management and directors of known or suspected instances of fraud and non-compliance with laws and regulations. These enquiries are corroborated through follow up audit procedures including but not limited to a review of legal and professional costs and correspondence.

- We assessed the susceptibility of the group's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the audit engagement team included:

a) Identifying the controls management has put in place to prevent and detect fraud;

b) Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;

c) Challenging assumptions and judgements made by management in its significant accounting estimates; and

d) We designed our audit procedures to respond to the assessment of the risk of fraud through management override of controls. This includes the identification and testing of related party transactions and the testing of journal transactions that arise from management estimates, that are determined to be of significant value or unusual in their nature and a review of profit margins.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
WOODLANDS GROUP HOLDINGS LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Joanne Brown (Senior Statutory Auditor)
for and on behalf of Sargeant Partnership LLP
Chartered Accountants
and Statutory Auditors
5 White Oak Square
London Road
Swanley
Kent
BR8 7AG

31 July 2024

WOODLANDS GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10853713)

CONSOLIDATED INCOME STATEMENT
FOR THE YEAR ENDED 31 OCTOBER 2023

2023 2022
Notes £    £   

TURNOVER 19,238,255 17,517,927

Cost of sales 15,963,489 13,824,262
GROSS PROFIT 3,274,766 3,693,665

Administrative expenses 3,060,156 2,942,709
214,610 750,956

Other operating income - 5,400
OPERATING PROFIT 4 214,610 756,356

Interest receivable and similar income 105 46
214,715 756,402

Interest payable and similar expenses 5 94,630 65,090
PROFIT BEFORE TAXATION 120,085 691,312

Tax on profit 6 (29,770 ) 130,384
PROFIT FOR THE FINANCIAL
YEAR

149,855

560,928
Profit attributable to:
Owners of the parent 149,855 560,928

WOODLANDS GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10853713)

CONSOLIDATED OTHER COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 OCTOBER 2023

2023 2022
Notes £    £   

PROFIT FOR THE YEAR 149,855 560,928


OTHER COMPREHENSIVE INCOME
Deferred tax
Exchange rate variance on consolidation 1,990 10,381
Income tax relating to other
comprehensive income

-

-
OTHER COMPREHENSIVE
INCOME FOR THE YEAR, NET OF
INCOME TAX


1,990


10,381
TOTAL COMPREHENSIVE
INCOME FOR THE YEAR

151,845

571,309

Total comprehensive income attributable to:
Owners of the parent 151,845 571,309

WOODLANDS GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10853713)

CONSOLIDATED BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 3,176,728 3,189,551
Investments 10 - -
Investment property 11 2,038,874 2,038,874
5,215,602 5,228,425

CURRENT ASSETS
Stocks 12 266,634 231,161
Debtors 13 6,143,277 6,000,038
Cash at bank and in hand 59,519 7,279
6,469,430 6,238,478
CREDITORS
Amounts falling due within one year 14 4,770,494 4,428,114
NET CURRENT ASSETS 1,698,936 1,810,364
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,914,538

7,038,789

CREDITORS
Amounts falling due after more than one
year

15

(1,569,241

)

(1,829,171

)

PROVISIONS FOR LIABILITIES 19 (520,433 ) (443,266 )
NET ASSETS 4,824,864 4,766,352

CAPITAL AND RESERVES
Called up share capital 20 10,000 10,000
Other reserves 21 5,167 3,177
Retained earnings 21 4,809,697 4,753,175
SHAREHOLDERS' FUNDS 4,824,864 4,766,352

The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2024 and were signed on its behalf by:




Mrs J Woodlands - Director


WOODLANDS GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10853713)

COMPANY BALANCE SHEET
31 OCTOBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 682 892
Investments 10 1,673,184 1,673,184
Investment property 11 2,038,874 2,038,874
3,712,740 3,712,950

CURRENT ASSETS
Cash at bank 3,238 6,641

CREDITORS
Amounts falling due within one year 14 158,467 105,327
NET CURRENT LIABILITIES (155,229 ) (98,686 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,557,511

3,614,264

CREDITORS
Amounts falling due after more than one
year

15

245,812

304,806
NET ASSETS 3,311,699 3,309,458

CAPITAL AND RESERVES
Called up share capital 20 1,000,000 1,000,000
Share premium 21 673,183 673,183
Retained earnings 21 1,638,516 1,636,275
SHAREHOLDERS' FUNDS 3,311,699 3,309,458

Company's profit for the financial year 95,574 181,077

The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2024 and were signed on its behalf by:





Mrs J Woodlands - Director


WOODLANDS GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10853713)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2023

Called up
share Retained Other Total
capital earnings reserves equity
£    £    £    £   
Balance at 1 November 2021 10,000 4,332,247 (7,204 ) 4,335,043

Changes in equity
Dividends - (140,000 ) - (140,000 )
Total comprehensive income - 560,928 10,381 571,309
Balance at 31 October 2022 10,000 4,753,175 3,177 4,766,352

Changes in equity
Dividends - (93,333 ) - (93,333 )
Total comprehensive income - 149,855 1,990 151,845
Balance at 31 October 2023 10,000 4,809,697 5,167 4,824,864

WOODLANDS GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10853713)

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2023

Called up
share Retained Share Total
capital earnings premium equity
£    £    £    £   
Balance at 1 November 2021 1,000,000 1,595,198 673,183 3,268,381

Changes in equity
Dividends - (140,000 ) - (140,000 )
Total comprehensive income - 181,077 - 181,077
Balance at 31 October 2022 1,000,000 1,636,275 673,183 3,309,458

Changes in equity
Dividends - (93,333 ) - (93,333 )
Total comprehensive income - 95,574 - 95,574
Balance at 31 October 2023 1,000,000 1,638,516 673,183 3,311,699

WOODLANDS GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10853713)

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 OCTOBER 2023

2023 2022
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 (680,296 ) 1,067,654
Interest paid (78,678 ) (52,696 )
Interest element of hire purchase
payments paid

(15,952

)

(12,394

)
Tax paid 315,926 305,312
Net cash from operating activities (459,000 ) 1,307,876

Cash flows from investing activities
Purchase of tangible fixed assets (190,097 ) (189,310 )
Sale of tangible fixed assets - 13,432
Interest received 105 46
Net cash from investing activities (189,992 ) (175,832 )

Cash flows from financing activities
Loan repayments in year (154,643 ) (403,266 )
Capital repayments in year (4,184 ) 129,215
Amount introduced by directors 545,772 237,509
Amount withdrawn by directors (237,509 ) (234,245 )
Equity dividends paid (93,333 ) (140,000 )
Net cash from financing activities 56,103 (410,787 )

(Decrease)/increase in cash and cash equivalents (592,889 ) 721,257
Cash and cash equivalents at
beginning of year

2

(108,199

)

(829,456

)

Cash and cash equivalents at end of
year

2

(701,088

)

(108,199

)

WOODLANDS GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10853713)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 OCTOBER 2023

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
2023 2022
£    £   
Profit before taxation 120,085 691,312
Depreciation charges 202,054 191,661
Loss/(profit) on disposal of fixed assets 866 (9,495 )
Exchange difference on reserves 1,990 10,381
Finance costs 94,630 65,090
Finance income (105 ) (46 )
419,520 948,903
(Increase)/decrease in stocks (35,473 ) 49,275
Increase in trade and other debtors (293,149 ) (1,280,892 )
(Decrease)/increase in trade and other creditors (771,194 ) 1,350,368
Cash generated from operations (680,296 ) 1,067,654

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 October 2023
31/10/23 1/11/22
£    £   
Cash and cash equivalents 59,519 7,279
Bank overdrafts (760,607 ) (115,478 )
(701,088 ) (108,199 )
Year ended 31 October 2022
31/10/22 1/11/21
£    £   
Cash and cash equivalents 7,279 14,994
Bank overdrafts (115,478 ) (844,450 )
(108,199 ) (829,456 )


WOODLANDS GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10853713)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 OCTOBER 2023

3. ANALYSIS OF CHANGES IN NET DEBT

At 1/11/22 Cash flow At 31/10/23
£    £    £   
Net cash
Cash at bank and in hand 7,279 52,240 59,519
Bank overdrafts (115,478 ) (645,129 ) (760,607 )
(108,199 ) (592,889 ) (701,088 )
Debt
Finance leases (399,404 ) 4,184 (395,220 )
Debts falling due within 1 year (154,992 ) (1,459 ) (156,451 )
Debts falling due after 1 year (823,536 ) 156,102 (667,434 )
(1,377,932 ) 158,827 (1,219,105 )
Total (1,486,131 ) (434,062 ) (1,920,193 )

WOODLANDS GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10853713)

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

1. STATUTORY INFORMATION

Woodlands Group Holdings 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 General 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial accounts are presented in sterling (£) which is also the functional currency.

Basis of consolidation
The financial statements consolidate the accounts of Woodlands Group Holdings Limited and all of its subsidiary undertakings.

These conform to group accounting policies.

As a consolidated group profit and loss is published, a separate profit and loss for the parent company is omitted from the group financial statements by virtue of section 408 of the Companies Act 2006.

Turnover
Turnover for the subsidiary company represents net invoices and applications for payment, based on the estimated value of services provided and recognised in accordance with the stage of completion of the contract, excluding value added tax.

Amounts recoverable on long term contracts, which are included in debtors, represent applications for payment which remain uncollected at the year end. These balances are stated at the net sales value of the work done after provisions.


Turnover for the parent company represents net invoiced rental income, excluding value added tax from the subsidiary.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 15% per annum on cost
Plant and machinery - 4% per annum on cost
Fixtures and fittings - 15% per annum on cost
Motor vehicles - 20% per annum on reducing balance
Computer equipment - 15% per annum 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.

WOODLANDS GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10853713)

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

2. ACCOUNTING POLICIES - continued

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

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

WOODLANDS GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10853713)

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

2. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.

Employee benefits
Short term employee benefits, including holiday pay entitlement and other non-monetary benefits, and contributions to personal pension schemes are recognised as an expense in the period in which they are incurred. The company has no further responsibility in respect of those schemes.

Short term debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in other operating expenses.

Cash and cash equivalents:
Cash and cash equivalents in the balance sheet comprise cash at banks and in hand and short-term deposits with an original maturity date of three months or less.

Significant judgements & estimates:
The preparation of financial statements requires management to make judgements. estimates and assumptions about the carrying value assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

Provisions for amounts recoverable on long term contracts
Applications for payment are raised by quantity surveyors based on the value of services delivered at the time of the application for payment. A provision is included against any uncollected amount where its recoverability may be uncertain. This estimate is based on management's knowledge and experience of the customer and prior business experience. The determination of the quantum of the provision is judgemental. ·

Useful economic lives of tangible fixed assets
The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual vaiues are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets.

Valuation of investment
Investments in subsidiaries are measured at cost less accumulated impairment.

WOODLANDS GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10853713)

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

3. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 2,694,383 2,437,416
Social security costs 376,084 331,259
Other pension costs 34,266 35,471
3,104,733 2,804,146

The average number of employees during the year was as follows:
2023 2022

Directors 4 2
Management & administration 25 26
Warehouse 3 3
Drivers 1 1
Mechanical & electrical 21 21
Portugal 7 -
61 53

The average number of employees by undertakings that were proportionately consolidated during the year was 61 (2022 - 53 ) .

2023 2022
£    £   
Directors' remuneration 160,000 -
Directors' pension contributions to money purchase schemes 2,202 -

4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

2023 2022
£    £   
Plant hire & maintenance 735,917 471,024
Depreciation - owned assets 166,773 156,323
Depreciation - assets on hire purchase contracts 35,281 35,338
Loss/(profit) on disposal of fixed assets 866 (9,495 )
Auditors' remuneration 31,850 32,528
Foreign exchange differences 5,100 11,500

WOODLANDS GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10853713)

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

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2023 2022
£    £   
Bank interest 79,949 41,988
Overdue tax 63 -
Mortgage interest 20,299 10,708
Loan Write Off (21,633 ) -
Hire purchase 15,952 12,394
94,630 65,090

6. TAXATION

Analysis of the tax (credit)/charge
The tax (credit)/charge on the profit for the year was as follows:
2023 2022
£    £   
Current tax:
UK corporation tax (120,456 ) (53,612 )
Prior period corporation tax 13,519 -
Total current tax (106,937 ) (53,612 )

Deferred tax 77,167 183,996
Tax on profit (29,770 ) 130,384

Reconciliation of total tax (credit)/charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2023 2022
£    £   
Profit before tax 120,085 691,312
Profit multiplied by the standard rate of corporation tax in the UK
of 25 % (2022 - 19 %)

30,021

131,349

Effects of:
Expenses not deductible for tax purposes 107,088 193,147
Income not taxable for tax purposes (45,482 ) (2,540 )
Capital allowances in excess of depreciation (15,789 ) (27,675 )
R&D claim (123,894 ) (123,288 )
Tax not posted in the accounts - (40,609 )
HMRC Interest 3,431 -
Difference between varying tax rates used across the group 14,855 -
Total tax (credit)/charge (29,770 ) 130,384

WOODLANDS GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10853713)

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

6. TAXATION - continued

Tax effects relating to effects of other comprehensive income

2023
Gross Tax Net
£    £    £   
Deferred tax
Exchange rate variance on consolidation 1,990 - 1,990
1,990 - 1,990

2022
Gross Tax Net
£    £    £   
Deferred tax
Exchange rate variance on consolidation 10,381 - 10,381
10,381 - 10,381

7. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


8. DIVIDENDS
2023 2022
£    £   
Ordinary shares of 1 each
Interim 93,333 140,000

WOODLANDS GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10853713)

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

9. TANGIBLE FIXED ASSETS

Group
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 November 2022 1,400 4,202,073 40,283
Additions - 80,773 -
Disposals - - -
At 31 October 2023 1,400 4,282,846 40,283
DEPRECIATION
At 1 November 2022 508 1,108,006 39,112
Charge for year 210 170,940 426
Eliminated on disposal - - -
At 31 October 2023 718 1,278,946 39,538
NET BOOK VALUE
At 31 October 2023 682 3,003,900 745
At 31 October 2022 892 3,094,067 1,171

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 November 2022 158,278 97,974 4,500,008
Additions 109,324 - 190,097
Disposals (10,650 ) - (10,650 )
At 31 October 2023 256,952 97,974 4,679,455
DEPRECIATION
At 1 November 2022 76,695 86,136 1,310,457
Charge for year 24,339 6,139 202,054
Eliminated on disposal (9,784 ) - (9,784 )
At 31 October 2023 91,250 92,275 1,502,727
NET BOOK VALUE
At 31 October 2023 165,702 5,699 3,176,728
At 31 October 2022 81,583 11,838 3,189,551

WOODLANDS GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10853713)

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

9. TANGIBLE FIXED ASSETS - continued

Group

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 November 2022 504,547 62,525 567,072
Additions 57,210 32,990 90,200
Reclassification/transfer 41,808 - 41,808
At 31 October 2023 603,565 95,515 699,080
DEPRECIATION
At 1 November 2022 28,931 15,064 43,995
Charge for year 23,040 12,241 35,281
Reclassification/transfer 381 - 381
At 31 October 2023 52,352 27,305 79,657
NET BOOK VALUE
At 31 October 2023 551,213 68,210 619,423
At 31 October 2022 475,616 47,461 523,077

Company
Improvem
to
property
£   
COST
At 1 November 2022
and 31 October 2023 1,400
DEPRECIATION
At 1 November 2022 508
Charge for year 210
At 31 October 2023 718
NET BOOK VALUE
At 31 October 2023 682
At 31 October 2022 892

WOODLANDS GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10853713)

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

10. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakin
£   
COST
At 1 November 2022
and 31 October 2023 1,673,184
NET BOOK VALUE
At 31 October 2023 1,673,184
At 31 October 2022 1,673,184


11. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 1 November 2022
and 31 October 2023 2,038,874
NET BOOK VALUE
At 31 October 2023 2,038,874
At 31 October 2022 2,038,874

Company
Total
£   
FAIR VALUE
At 1 November 2022
and 31 October 2023 2,038,874
NET BOOK VALUE
At 31 October 2023 2,038,874
At 31 October 2022 2,038,874

WOODLANDS GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10853713)

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

12. STOCKS

Group
2023 2022
£    £   
Stocks 266,634 231,161

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group
2023 2022
£    £   
Trade debtors 5,809,595 5,457,975
Other debtors 26,973 20,515
Tax 178,702 328,612
VAT - 119,808
Prepayments and accrued income 128,007 73,128
6,143,277 6,000,038

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Bank loans and overdrafts (see note 16) 917,058 270,470 58,995 58,995
Hire purchase contracts (see note 17) 118,185 107,278 - -
Trade creditors 2,572,863 3,046,114 - 6,180
Creditor provision (132,456 ) - - -
Amounts owed to group undertakings - - 74,515 25,315
Tax 59,079 - - -
Social security and other taxes 121,358 153,433 - -
VAT 52,020 - 2,710 1,790
Other creditors 648,301 399,732 - -
Net Pay Control 89,065 121,303 - -
Credit card 18,703 18,352 - -
Accruals and deferred income 306,318 311,432 22,247 13,047
4,770,494 4,428,114 158,467 105,327

WOODLANDS GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10853713)

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

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR

Group Company
2023 2022 2023 2022
£    £    £    £   
Bank loans (see note 16) 667,434 823,536 245,812 304,806
Hire purchase contracts (see note 17) 277,035 292,126 - -
Other creditors 79,000 476,000 - -
Directors' loan accounts 545,772 237,509 - -
1,569,241 1,829,171 245,812 304,806

16. LOANS

An analysis of the maturity of loans is given below:

Group Company
2023 2022 2023 2022
£    £    £    £   
Amounts falling due within one year or on demand:
Bank overdrafts 760,607 115,478 - -
Bank loans - less than 1 yr 156,451 154,992 58,995 58,995
917,058 270,470 58,995 58,995
Amounts falling due between two and five years:
Bank loans - 2-5 years 540,917 584,352 235,979 235,979
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 126,517 239,184 9,833 68,827

17. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2023 2022
£    £   
Net obligations repayable:
Within one year 118,185 107,278
Between one and five years 277,035 292,126
395,220 399,404

WOODLANDS GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10853713)

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

17. LEASING AGREEMENTS - continued

Group
Non-cancellable operating leases
2023 2022
£    £   
Within one year 2,200 2,838
Between one and five years 5,317 6,050
7,517 8,888

18. SECURED DEBTS

The following secured debts are included within creditors:

Group Company
2023 2022 2023 2022
£    £    £    £   
Bank loans 823,885 978,528 304,807 363,801

A fixed and floating charge with a negative pledge over all the property or undertaking of the parent company.

A fixed charge and negative pledge is held over the property at Unit 1, 8 Tyers Gate, London, SE1 3HX.

A debenture including a fixed and floating charge is held over the assets of the subsidiary company.

A first legal charge is held over the property at 20 Optima Park Crayford.

19. PROVISIONS FOR LIABILITIES

Group
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 520,433 443,266

Group
Deferred
tax
£   
Balance at 1 November 2022 443,266
Provided during year 77,167
Balance at 31 October 2023 520,433

WOODLANDS GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10853713)

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

20. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
10,000 Ordinary 1 10,000 10,000

21. RESERVES

Group
Retained Other
earnings reserves Totals
£    £    £   

At 1 November 2022 4,753,175 3,177 4,756,352
Profit for the year 149,855 149,855
Dividends (93,333 ) (93,333 )
Exchange reserve current year - 1,990 1,990
At 31 October 2023 4,809,697 5,167 4,814,864

Company
Retained Share
earnings premium Totals
£    £    £   

At 1 November 2022 1,636,275 673,183 2,309,458
Profit for the year 95,574 95,574
Dividends (93,333 ) (93,333 )
At 31 October 2023 1,638,516 673,183 2,311,699


22. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date, the group owed Mr & Mrs Woodlands £195,772 (2022: £237,509), Mr A Faratro £350,000 and Mr G Hall £nil.

During the year the group paid dividends of £93,333 to Mr & Mrs Woodlands.

During the year the directors received the following benefits in kind:
Mr & Mrs J Woodlands £3,567
Mr A Faratro £2,666
Mr G Hall £2,422

During the year Mr A Faratro and Mr G Hall became directors, therefore any loans they had in the prior year will be classified separately and comparatives will not be shown above.

WOODLANDS GROUP HOLDINGS LIMITED (REGISTERED NUMBER: 10853713)

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

23. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements.

During the year, the group made purchases from close family member companies totalling £nil (2022: £22,843).

As at the balance sheet date, the group owed £79,000 (2022: £79,000) to close family members.

During the year, the group loaned £24,564 (2022: £18,798) to companies outside of the group with the same directors. The group was loaned £640,155 (2022: £395,204) from companies outside of the group with the same directors. The group made sales of £25,391 (2022: £239,456) to these companies and there was a total trade debtor balance as at the year end of £391,403 (2022: £386,518). There was a total trade creditor balance as at the year end of £5,104 (2022: £4,380).

Other than the directors the only other key management personnel is R McQueen who is an Associate Director. K Bodman, S White & R Prentice and A Neale who are directors of the subsidiaries. The remuneration of the directors of the parent are consolidated in note 3.

At the balance sheet date, the group owed the directors of the subsidiaries £nil.

During the year the directors of the subsidiaries received the following:
- benefits in kind in total of £2,787
- remuneration in total £270,833
- pension contributions to money purchase scheme £4,404

24. ULTIMATE CONTROLLING PARTY

The ultimate controlling party during the period was Mr J Woodlands and Mrs J Woodlands by virtue of their shareholding in the company.