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Company No: 13483222 (England and Wales)

WOODSTONE1 LTD

Unaudited Financial Statements
For the financial year ended 30 November 2023
Pages for filing with the registrar

WOODSTONE1 LTD

Unaudited Financial Statements

For the financial year ended 30 November 2023

Contents

WOODSTONE1 LTD

COMPANY INFORMATION

For the financial year ended 30 November 2023
WOODSTONE1 LTD

COMPANY INFORMATION (continued)

For the financial year ended 30 November 2023
DIRECTORS Emma Thompson
Mark Edward Thompson
REGISTERED OFFICE 2 Holly Tree House
Northminster Business Park
York
YO26 6QU
United Kingdom
COMPANY NUMBER 13483222 (England and Wales)
ACCOUNTANT Morrell Middleton Auditors Ltd
Chartered Certified Accountants
Wellington House
Aviator Court
York
YO30 4UZ
WOODSTONE1 LTD

BALANCE SHEET

As at 30 November 2023
WOODSTONE1 LTD

BALANCE SHEET (continued)

As at 30 November 2023
Note 30.11.2023 30.11.2022
£ £
Fixed assets
Tangible assets 3 177,847 88,876
177,847 88,876
Current assets
Stocks 4 13,127 5,554
Debtors 5 711,078 299,987
Cash at bank and in hand 6 570,735 278,925
1,294,940 584,466
Creditors: amounts falling due within one year 7 ( 472,088) ( 230,910)
Net current assets 822,852 353,556
Total assets less current liabilities 1,000,699 442,432
Provision for liabilities 8 ( 44,462) 0
Net assets 956,237 442,432
Capital and reserves
Called-up share capital 2 2
Profit and loss account 956,235 442,430
Total shareholders' funds 956,237 442,432

For the financial year ending 30 November 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Woodstone1 Ltd (registered number: 13483222) were approved and authorised for issue by the Board of Directors on 31 July 2024. They were signed on its behalf by:

Mark Edward Thompson
Director
WOODSTONE1 LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
WOODSTONE1 LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 November 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

Woodstone1 Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 2 Holly Tree House, Northminster Business Park, York, YO26 6QU, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
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 financial statements. 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.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 3 years straight line
25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

Year ended
30.11.2023
Period from
29.06.2021 to
30.11.2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 13 9

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 December 2022 105,106 105,106
Additions 137,612 137,612
Disposals ( 12,000) ( 12,000)
At 30 November 2023 230,718 230,718
Accumulated depreciation
At 01 December 2022 16,230 16,230
Charge for the financial year 40,766 40,766
Disposals ( 4,125) ( 4,125)
At 30 November 2023 52,871 52,871
Net book value
At 30 November 2023 177,847 177,847
At 30 November 2022 88,876 88,876

4. Stocks

30.11.2023 30.11.2022
£ £
Work in progress 13,127 5,554

5. Debtors

30.11.2023 30.11.2022
£ £
Trade debtors 299,578 142,987
Other debtors 411,500 157,000
711,078 299,987

6. Cash and cash equivalents

30.11.2023 30.11.2022
£ £
Cash at bank and in hand 570,735 278,925

7. Creditors: amounts falling due within one year

30.11.2023 30.11.2022
£ £
Trade creditors 201,555 68,513
CIS withheld 16,783 0
Taxation and social security 201,345 136,840
Other creditors 52,405 25,557
472,088 230,910

8. Deferred tax

30.11.2023 30.11.2022
£ £
At the beginning of financial year/period 0 0
Charged to the Statement of Income and Retained Earnings ( 44,462) 0
At the end of financial year/period ( 44,462) 0