Company Registration No. 12047334 (England and Wales)
D A Wood and Sons Ltd
Unaudited accounts
for the year ended 30 November 2023
D A Wood and Sons Ltd
Unaudited accounts
Contents
D A Wood and Sons Ltd
Company Information
for the year ended 30 November 2023
Directors
Mr D A Wood
Mrs K Wood
Mr L Williams
Mr M Kent
Company Number
12047334 (England and Wales)
Registered Office
1 Calverley Road
Oulton
Leeds
LS29 8JD
Accountants
John Shackleton & Co Ltd,
10 Claro Court Business Centre
Claro Road
Harrogate
North Yorkshire
HG1 4BA
D A Wood and Sons Ltd
Statement of financial position
as at 30 November 2023
Investment property
11,034,999
11,769,999
Cash at bank and in hand
18,785
52,680
Creditors: amounts falling due within one year
(1,091,466)
(668,128)
Net current liabilities
(868,423)
(604,155)
Total assets less current liabilities
10,166,576
11,165,844
Creditors: amounts falling due after more than one year
(4,707,650)
(4,888,600)
Provisions for liabilities
Deferred tax
(1,274,654)
(1,458,404)
Net assets
4,184,272
4,818,840
Called up share capital
100
100
Fair value reserve
3,914,492
4,375,213
Profit and loss account
269,680
443,527
Shareholders' funds
4,184,272
4,818,840
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 27 August 2024 and were signed on its behalf by
Mr D A Wood
Director
Company Registration No. 12047334
D A Wood and Sons Ltd
Notes to the Accounts
for the year ended 30 November 2023
D A Wood and Sons Ltd is a private company, limited by shares, registered in England and Wales, registration number 12047334. The registered office is 1 Calverley Road, Oulton, Leeds, LS29 8JD.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The comparatives on these accounts have been restated to show a provision for deferred tax on revaluation of investment property at 25%.
The revaluation of investment property net of deferred tax provision is now shown in a fair value reserve.
The accounts are presented in £ sterling.
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 accounts. 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.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Fair value at 1 December 2022
11,769,999
Net loss from fair value adjustments
(735,000)
At 30 November 2023
11,034,999
On 15 September 2023 a fire badly damaged the bakery at Dudley. The valuation of that site was reduced by £860,000 to take this into account.
Amounts falling due within one year
Other debtors
204,258
11,293
D A Wood and Sons Ltd
Notes to the Accounts
for the year ended 30 November 2023
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
336,261
349,186
Taxes and social security
-
8,009
Loans from directors
95,000
-
7
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
4,707,650
4,888,600
Aggregate of amounts that fall due for payment after five years
3,264,201
3,491,857
Bank loans are secured by fixed and floating charges over the company's assets.
8
Deferred taxation
2023
2022
Revaluation of investment property
1,274,654
1,458,404
Provision at start of year
1,458,404
549,386
(Credited)/charged to the profit and loss account
(183,750)
909,018
Provision at end of year
1,274,654
1,458,404
Allotted, called up and fully paid:
50 Ordinary shares A of £1 each
50
50
50 Ordinary shares B of £1 each
50
50
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Advances to director
11,293
-
11,293
-
D A Wood and Sons Ltd
Notes to the Accounts
for the year ended 30 November 2023
11
Transactions with related parties
Loans had been made of £204, 258 to David Wood Baking Ltd. (other debtors)
In the previous year, loans have been received from David Wood Baking Ltd of £287,429 (other creditors).
David Wood Baking Ltd which is a company in which David and Karen Wood are also shareholders and directors. No interest has been received or charged on these loans in this period.
12
Average number of employees
During the year the average number of employees was 0 (2022: 0).