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Company registration number: 02358403
WOODHALL PROPERTIES LIMITED
Trading as Woodhall Properties Limited
Unaudited filleted financial statements
31 March 2024
WOODHALL PROPERTIES LIMITED
Contents
Directors and other information
Accountants report
Statement of financial position
Notes to the financial statements
WOODHALL PROPERTIES LIMITED
Directors and other information
Directors G. Thompson
C. Thompson
Secretary G. Thompson
Company number 02358403
Registered office 163-164 Moulsham Street
Chelmsford
Essex
CM2 0LD
Accountants Peaty & Co
163-164 Moulsham Street
Chelmsford
Essex
CM2 0LD
WOODHALL PROPERTIES LIMITED
Chartered accountants report to the board of directors on the preparation of the
unaudited statutory financial statements of Woodhall Properties Limited
Year ended 31 March 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Woodhall Properties Limited for the year ended 31 March 2024 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the board of directors of Woodhall Properties Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Woodhall Properties Limited and state those matters that we have agreed to state to the board of directors of Woodhall Properties Limited as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Woodhall Properties Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that Woodhall Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Woodhall Properties Limited. You consider that Woodhall Properties Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Woodhall Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Peaty & Co
Chartered Accountants
163-164 Moulsham Street
Chelmsford
Essex
CM2 0LD
13 August 2024
WOODHALL PROPERTIES LIMITED
Statement of financial position
31 March 2024
2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 8 1,676 2,211
_______ _______
1,676 2,211
Current assets
Debtors 9 - 29
Cash at bank and in hand 256,741 116,544
_______ _______
256,741 116,573
Creditors: amounts falling due
within one year 10 ( 167,021) ( 32,384)
_______ _______
Net current assets 89,720 84,189
_______ _______
Total assets less current liabilities 91,396 86,400
Creditors: amounts falling due
after more than one year 11 ( 11,667) ( 21,667)
_______ _______
Net assets 79,729 64,733
_______ _______
Capital and reserves
Called up share capital 12 111 111
Profit and loss account 79,618 64,622
_______ _______
Shareholders funds 79,729 64,733
_______ _______
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- 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;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 13 August 2024 , and are signed on behalf of the board by:
C. Thompson
Director
Company registration number: 02358403
WOODHALL PROPERTIES LIMITED
Notes to the financial statements
Year ended 31 March 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 163-164 Moulsham Street, Chelmsford, Essex, CM2 0LD.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. They have been prepared in sterling which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. 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 is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 15 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 2 (2023: 2 ).
5. Directors remuneration
The directors aggregate remuneration in respect of qualifying services was:
2024 2023
£ £
Remuneration 13,626 12,084
_______ _______
6. Tax on profit
Major components of tax expense
2024 2023
£ £
Current tax:
UK current tax expense 31,011 13,044
_______ _______
Tax on profit 31,011 13,044
_______ _______
7. Dividends
Equity dividends
2024 2023
£ £
Dividends paid during the year (excluding those for which a liability existed at the end of the prior year) 72,000 48,000
_______ _______
8. Tangible assets
Fixtures, fittings and equipment Total
£ £
Cost
At 1 April 2023 and 31 March 2024 3,572 3,572
_______ _______
Depreciation
At 1 April 2023 1,361 1,361
Charge for the year 535 535
_______ _______
At 31 March 2024 1,896 1,896
_______ _______
Carrying amount
At 31 March 2024 1,676 1,676
_______ _______
At 31 March 2023 2,211 2,211
_______ _______
9. Debtors
2024 2023
£ £
Other debtors - 29
_______ _______
10. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Corporation tax 31,011 13,044
Social security and other taxes 4,972 212
Other creditors 121,038 9,128
_______ _______
167,021 32,384
_______ _______
11. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 11,667 21,667
_______ _______
12. Called up share capital
Issued, called up and fully paid
2024 2023
No £ No £
Ordinary A shares shares of £ 1.00 each 100 100 100 100
Ordinary B shares shares of £ 1.00 each 6 6 6 6
Ordinary C shares shares of £ 1.00 each 5 5 5 5
_______ _______ _______ _______
111 111 111 111
_______ _______ _______ _______