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Registration number: 10854671

Woods (Waltham) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 January 2024

 

Woods (Waltham) Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 6

 

Woods (Waltham) Limited

(Registration number: 10854671)
Balance Sheet as at 31 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,943,129

1,938,904

Investments

5

2

2

 

1,943,131

1,938,906

Current assets

 

Debtors

6

753,279

473,053

Cash at bank and in hand

 

389,915

442,351

 

1,143,194

915,404

Creditors: Amounts falling due within one year

7

(92,247)

(143,220)

Net current assets

 

1,050,947

772,184

Total assets less current liabilities

 

2,994,078

2,711,090

Provisions for liabilities

(80,818)

(76,658)

Net assets

 

2,913,260

2,634,432

Capital and reserves

 

Called up share capital

8

4

4

Revaluation reserve

346,594

346,594

Retained earnings

2,566,662

2,287,834

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:

The members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 Board on 20 August 2024 and signed on its behalf by:
 

.........................................
Mr Philip Neil Woods
Director

 

Woods (Waltham) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

1

General information

The Company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
61 Barnoldby Road
Waltham
Grimsby
N E Lincolnshire
DN37 0DB

These financial statements were authorised for issue by the Board on 20 August 2024.

2

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

No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year.

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.

3

Staff numbers

The average number of persons employed by the Company (including Directors) during the year, was 2 (2023 - 2).

 

Woods (Waltham) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 February 2023

1,929,394

14,327

1,943,721

Additions

-

6,450

6,450

At 31 January 2024

1,929,394

20,777

1,950,171

Depreciation

At 1 February 2023

-

4,817

4,817

Charge for the year

-

2,225

2,225

At 31 January 2024

-

7,042

7,042

Carrying amount

At 31 January 2024

1,929,394

13,735

1,943,129

At 31 January 2023

1,929,394

9,510

1,938,904

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.
 

5

Investments

2024
£

2023
£

Investments in subsidiaries

2

2

Subsidiaries

£

Cost or valuation

At 1 February 2023

2

Provision

Carrying amount

At 31 January 2024

2

At 31 January 2023

2

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

     

2024

2023

Subsidiary undertakings

Refrigeration and Site Services Limited

61 Barnoldby Road,
Waltham,
Grimsby,
North East Lincolnshire,
DN37 0DB

100%

100%

Subsidiary undertakings

Refrigeration and Site Services Limited

The principal activity of Refrigeration and Site Services Limited is Installation of industrial machinery and equipment.

6

Debtors

Current

Note

2024
£

2023
£

Amounts owed by related parties

9

272,750

79,439

Prepayments

 

22,770

2,955

Other debtors

 

457,759

390,659

   

753,279

473,053

 

Woods (Waltham) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2024

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

1,703

178

Taxation and social security

87,079

139,742

Accruals and deferred income

3,465

3,300

92,247

143,220

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary of £1 each

4

4

4

4

         

9

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

155,503

53,122

(37,500)

171,125

         
       

Mr Philip Neil Woods

155,504

53,121

(37,500)

171,125

         
       

 

2023

At 1 February 2022
£

Advances to Director
£

Repayments by Director
£

At 31 January 2023
£

Mrs Gail Yvonne Woods

-

161,816

(6,313)

155,503

         
       

Mr Philip Neil Woods

-

161,817

(6,313)

155,504

         
       

 

Summary of transactions with subsidiaries

Refrigeration and Site Services Limited
 Woods (Waltham) owns 100% share in Refrigeration and Site Services Limited.
 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.)