Registration number:
Woods (Waltham) Limited
for the Year Ended 31 January 2024
Woods (Waltham) Limited
(Registration number: 10854671)
Balance Sheet as at 31 January 2024
Note |
2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
4 |
4 |
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Revaluation reserve |
346,594 |
346,594 |
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Retained earnings |
2,566,662 |
2,287,834 |
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Shareholders' funds |
2,913,260 |
2,634,432 |
For the financial year ending 31 January 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
• |
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• |
The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the Directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
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Woods (Waltham) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024
General information |
The Company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The financial statements have been prepared in sterling and are rounded to the nearest pound.
Summary of disclosure exemptions
The financial statements contain information about Woods (Waltham) Limited as an individual entity and do not contain consolidated financial information as the parent of a group. The company is exempt under section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements..
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
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 not to be recovered based on current or future taxable profit.
Woods (Waltham) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant and machinery |
20% Reducing Balance |
Fixtures and fittings |
20% Reducing Balance |
Investment property
This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view, Depreciation or amortisation is the only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Dividends
Dividend distribution to the Company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Staff numbers |
The average number of persons employed by the Company (including Directors) during the year, was
Woods (Waltham) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024
Tangible assets |
Land and buildings |
Furniture, fittings and equipment |
Total |
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Cost or valuation |
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At 1 February 2023 |
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Additions |
- |
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At 31 January 2024 |
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Depreciation |
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At 1 February 2023 |
- |
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Charge for the year |
- |
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At 31 January 2024 |
- |
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Carrying amount |
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At 31 January 2024 |
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At 31 January 2023 |
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Included within the net book value of land and buildings above is £1,929,394 (2023 - £1,929,394) in respect of freehold land and buildings.
Investments |
2024 |
2023 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
Cost or valuation |
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At 1 February 2023 |
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Provision |
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Carrying amount |
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At 31 January 2024 |
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At 31 January 2023 |
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Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the Company holds 20% or more of the nominal value of any class of share capital are as follows:
Woods (Waltham) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2024 |
2023 |
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Subsidiary undertakings |
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61 Barnoldby Road,
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Subsidiary undertakings |
Refrigeration and Site Services Limited The principal activity of Refrigeration and Site Services Limited is |
Debtors |
Current |
Note |
2024 |
2023 |
Amounts owed by related parties |
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Prepayments |
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Other debtors |
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Woods (Waltham) Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024
Creditors |
Creditors: amounts falling due within one year
2024 |
2023 |
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Due within one year |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
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Ordinary of £1 each |
4 |
4 |
4 |
4 |
Related party transactions |
The below advance had no fixed repayment date and was unsecured. Interest has been charged at the official rate of interest.
Transactions with Directors |
2024 |
At 1 February 2023 |
Advances to Director |
Repayments by Director |
At 31 January 2024 |
Mrs Gail Yvonne Woods |
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( |
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Mr Philip Neil Woods |
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( |
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2023 |
At 1 February 2022 |
Advances to Director |
Repayments by Director |
At 31 January 2023 |
Mrs Gail Yvonne Woods |
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- |
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( |
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Mr Philip Neil Woods |
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- |
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( |
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Summary of transactions with subsidiaries
The balance owing to Woods (Waltham) Limited at the year end from Refrigeration and Site Services Limited was £272,681.09. (2023 - £79,439 owing to Woods (Waltham) Limited at the year end from Refrigeration and Site Services Limited.)