2022-11-012023-10-312023-10-31false11167177William Rose Woodford 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William Rose Woodford Ltd

Registered Number
11167177
(England and Wales)

Unaudited Financial Statements for the Year ended
31 October 2023

William Rose Woodford Ltd
Company Information
for the year from 1 November 2022 to 31 October 2023

Directors

Mr J Williams
Mr A Sinclair

Registered Address

10 Western Road
Romford
RM1 3JT

Registered Number

11167177 (England and Wales)
William Rose Woodford Ltd
Balance Sheet as at
31 October 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets330,76032,397
30,76032,397
Current assets
Debtors4286,209295,262
Cash at bank and on hand311,150379,530
597,359674,792
Creditors amounts falling due within one year5(111,427)(166,177)
Net current assets (liabilities)485,932508,615
Total assets less current liabilities516,692541,012
Creditors amounts falling due after one year6(15,503)(25,675)
Provisions for liabilities7(3,272)(2,884)
Net assets497,917512,453
Capital and reserves
Called up share capital11
Profit and loss account497,916512,452
Shareholders' funds497,917512,453
The financial statements were approved and authorised for issue by the Board of Directors on 29 July 2024, and are signed on its behalf by:
Mr A Sinclair
Director
Mr J Williams
Director

Registered Company No. 11167177
William Rose Woodford Ltd
Notes to the Financial Statements
for the year ended 31 October 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
At the time of approving the financial statements,the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Fixtures and fittings25
Government grants or assistance
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. A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2.Average number of employees

20232022
Average number of employees during the year89
3.Tangible fixed assets

Fixtures & fittings

Total

££
Cost or valuation
At 01 November 2243,27843,278
Additions2,8772,877
At 31 October 2346,15546,155
Depreciation and impairment
At 01 November 2210,88110,881
Charge for year4,5144,514
At 31 October 2315,39515,395
Net book value
At 31 October 2330,76030,760
At 31 October 2232,39732,397
4.Debtors: amounts due within one year

2023

2022

££
Trade debtors / trade receivables23,64521,705
Other debtors257,144263,132
Prepayments and accrued income5,42010,425
Total286,209295,262
5.Creditors: amounts due within one year

2023

2022

££
Trade creditors / trade payables3,30213,210
Bank borrowings and overdrafts10,64810,648
Taxation and social security77,42890,959
Other creditors16,02116,016
Accrued liabilities and deferred income4,02835,344
Total111,427166,177
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Creditors: amounts due after one year

2023

2022

££
Bank borrowings and overdrafts15,50325,675
Total15,50325,675
7.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)3,2722,884
Total3,2722,884
8.Directors advances, credits and guarantees
At the year end the company owed the director £15,651 (2022 - £15,646) by way of their directors current account.