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Registered number: 11028662
Woodworx Resort Ltd
Unaudited Financial Statements
For The Year Ended 31 October 2023
Accounting Hut Limited
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 11028662
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,415,152 3,418,977
3,415,152 3,418,977
CURRENT ASSETS
Debtors 5 103,600 739
Cash at bank and in hand 26,825 105,390
130,425 106,129
Creditors: Amounts Falling Due Within One Year 6 (520,619 ) (576,290 )
NET CURRENT ASSETS (LIABILITIES) (390,194 ) (470,161 )
TOTAL ASSETS LESS CURRENT LIABILITIES 3,024,958 2,948,816
Creditors: Amounts Falling Due After More Than One Year 7 (2,270,410 ) (2,280,373 )
NET ASSETS 754,548 668,443
CAPITAL AND RESERVES
Called up share capital 8 1 1
Revaluation reserve 9 1,566,920 1,566,920
Profit and Loss Account (812,373 ) (898,478 )
SHAREHOLDERS' FUNDS 754,548 668,443
Page 1
Page 2
For the year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Thomas Bunday
Director
24/05/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Woodworx Resort Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11028662 . The registered office is 20 Dene Road, Ashurst, Southampton, SO40 7BJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 0% on cost
Plant & Machinery 25% on cost
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2022: 2)
2 2
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Total
£ £ £
Cost
As at 1 November 2022 3,407,501 15,301 3,422,802
As at 31 October 2023 3,407,501 15,301 3,422,802
Depreciation
As at 1 November 2022 - 3,825 3,825
Provided during the period - 3,825 3,825
As at 31 October 2023 - 7,650 7,650
Net Book Value
As at 31 October 2023 3,407,501 7,651 3,415,152
As at 1 November 2022 3,407,501 11,476 3,418,977
Page 3
Page 4
5. Debtors
2023 2022
£ £
Due within one year
Other debtors 88,600 739
Other debtors (1) 15,000 -
103,600 739
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 378 271
Other creditors 385,721 487,054
Other creditors (1) 53,333 -
Accruals and deferred income 1,000 500
Director's loan account 80,187 88,465
520,619 576,290
7. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Bank loans 2,270,410 2,280,373
2,270,410 2,280,373
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 1 1
9. Reserves
Revaluation Reserve
£
As at 1 November 2022 1,566,920
As at 31 October 2023 1,566,920
Page 4