Registered number
10431171
Woodman Forecourts Ltd
Filleted Accounts
30 November 2023
Woodman Forecourts Ltd
Registered number: 10431171
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,718,688 1,999,716
Current assets
Stocks 338,604 297,553
Debtors 4 1,397,097 590,674
Cash at bank and in hand 1,643,978 1,535,027
3,379,679 2,423,254
Creditors: amounts falling due within one year 5 (1,883,796) (1,186,239)
Net current assets 1,495,883 1,237,015
Total assets less current liabilities 3,214,571 3,236,731
Creditors: amounts falling due after more than one year 6 - (626,991)
Provisions for liabilities (40,076) -
Net assets 3,174,495 2,609,740
Capital and reserves
Called up share capital 100 100
Profit and loss account 3,174,395 2,609,640
Shareholder's funds 3,174,495 2,609,740
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Idris Patel
Director
Approved by the board on 6 March 2024
Woodman Forecourts Ltd
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
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).
Turnover
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. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Fixtures, fittings, tools and equipment 25% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 24 20
3 Tangible fixed assets
Land and buildings Leashold land & buildings Fixtures & equipment Total
£ £ £ £
Cost
At 1 December 2022 1,494,485 599,233 242,342 2,336,060
Additions - - 38,144 38,144
Disposals (288,737) - (2,059) (290,796)
At 30 November 2023 1,205,748 599,233 278,427 2,083,408
Depreciation
At 1 December 2022 176,847 73,189 86,308 336,344
Charge for the year 24,115 18,174 20,735 63,024
On disposals (34,648) - - (34,648)
At 30 November 2023 166,314 91,363 107,043 364,720
Net book value
At 30 November 2023 1,039,434 507,870 171,384 1,718,688
At 30 November 2022 1,317,638 526,044 156,034 1,999,716
4 Debtors 2023 2022
£ £
Trade debtors 275,245 142,848
Other debtors 1,121,852 447,826
1,397,097 590,674
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 1,023,026 1,115,372
Taxation and social security costs 367,597 62,868
Other creditors 493,173 7,999
1,883,796 1,186,239
£736,852 (2022: £959,846) of trade creditors owed to Shell UK Oil Products Ltd is secured by way of a fixed charge over the Freehold property of the company.
6 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors - 626,991
7 Related party transactions
Included in other debtors are interest free loans to related companies of £736,852 (2022: £427,373).
8 Controlling party
The company is under the control of the director Idris Patel.
9 Other information
Woodman Forecourts Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Woodman Service Station
Dewsbury Road
Leeds
West Yorkshire
LS27 8PU
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