Company registration number 08617391 (England and Wales)
WOODHEAD ENTERPRISE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
PAGES FOR FILING WITH REGISTRAR
WOODHEAD ENTERPRISE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
WOODHEAD ENTERPRISE LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2023
31 October 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
5
162,367
186,970
Current assets
Debtors
6
660,245
625,023
Cash at bank and in hand
169,498
109,855
829,743
734,878
Creditors: amounts falling due within one year
7
(274,353)
(213,283)
Net current assets
555,390
521,595
Total assets less current liabilities
717,757
708,565
Provisions for liabilities
(17,517)
(14,434)
Net assets
700,240
694,131
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
700,239
694,130
Total equity
700,240
694,131

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 29 July 2024 and are signed on its behalf by:
Mrs H Cheshire
Director
Company registration number 08617391 (England and Wales)
WOODHEAD ENTERPRISE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
- 2 -
1
Accounting policies
Company information

Woodhead Enterprise Limited is a private company limited by shares incorporated in England and Wales. The registered office is Edwinstowe House, High Street, Edwinstowe, Nottingham, NG21 9PR. The company registration number is 08617391.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised by the company in respect of goods and services when the service is provided.

 

Service charges, conferencing and project sales are recognised when the service is provided.

 

Rental income is recognised in the period to which it relates.

1.3
Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Software and licences
33% straight line
1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements
20% straight line
Computer Equipment
20% straight line
Fixtures and fittings
20% straight line / 25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

WOODHEAD ENTERPRISE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
1
Accounting policies
(Continued)
- 3 -
1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.8
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated 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 an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
19
14
WOODHEAD ENTERPRISE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
- 4 -
4
Intangible fixed assets
Software and licences
£
Cost
At 1 November 2022 and 31 October 2023
2,455
Amortisation and impairment
At 1 November 2022 and 31 October 2023
2,455
Carrying amount
At 31 October 2023
-
0
At 31 October 2022
-
0
5
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 November 2022
235,418
110,797
346,215
Additions
2,638
3,238
5,876
Disposals
-
0
(2,648)
(2,648)
At 31 October 2023
238,056
111,387
349,443
Depreciation and impairment
At 1 November 2022
66,464
92,781
159,245
Depreciation charged in the year
20,851
9,628
30,479
Eliminated in respect of disposals
-
0
(2,648)
(2,648)
At 31 October 2023
87,315
99,761
187,076
Carrying amount
At 31 October 2023
150,741
11,626
162,367
At 31 October 2022
168,954
18,016
186,970
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
103,511
73,637
Other debtors
556,734
551,386
660,245
625,023
WOODHEAD ENTERPRISE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
- 5 -
7
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
36,135
41,307
Corporation tax
1,143
2,637
Other taxation and social security
36,426
8,217
Other creditors
200,649
161,122
274,353
213,283
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