9 false false false false false false false false false true false false false false false false 2023-01-01 Sage Accounts Production Advanced 2021 - FRS102_2021 8,750 8,750 xbrli:pure xbrli:shares iso4217:GBP 06970533 2023-01-01 2023-12-31 06970533 2023-12-31 06970533 2022-12-31 06970533 2022-01-01 2022-12-31 06970533 2022-12-31 06970533 core:PlantMachinery 2023-01-01 2023-12-31 06970533 bus:Director2 2023-01-01 2023-12-31 06970533 core:PlantMachinery 2022-12-31 06970533 core:PlantMachinery 2023-12-31 06970533 core:WithinOneYear 2023-12-31 06970533 core:WithinOneYear 2022-12-31 06970533 core:ShareCapital 2023-12-31 06970533 core:ShareCapital 2022-12-31 06970533 core:RetainedEarningsAccumulatedLosses 2023-12-31 06970533 core:RetainedEarningsAccumulatedLosses 2022-12-31 06970533 core:PlantMachinery 2022-12-31 06970533 bus:SmallEntities 2023-01-01 2023-12-31 06970533 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 06970533 bus:FullAccounts 2023-01-01 2023-12-31 06970533 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 06970533 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 06970533 core:LicencesFranchises 2023-01-01 2023-12-31 06970533 core:FurnitureFittingsToolsEquipment 2023-01-01 2023-12-31 06970533 core:LicencesFranchises 2023-12-31 06970533 core:FurnitureFittingsToolsEquipment 2022-12-31 06970533 core:FurnitureFittingsToolsEquipment 2023-12-31
COMPANY REGISTRATION NUMBER: 06970533
Woodhaze Limited
Filleted Unaudited Financial Statements
31 December 2023
Woodhaze Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
6
23,573
32,301
Current assets
Stocks
5,250
5,250
Debtors
7
9,052
5,586
Cash at bank and in hand
83,628
68,143
--------
--------
97,930
78,979
Creditors: amounts falling due within one year
8
50,498
57,049
--------
--------
Net current assets
47,432
21,930
--------
--------
Total assets less current liabilities
71,005
54,231
Provisions
Taxation including deferred tax
2,030
2,030
--------
--------
Net assets
68,975
52,201
--------
--------
Capital and reserves
Called up share capital
100
100
Profit and loss account
68,875
52,101
--------
--------
Shareholders funds
68,975
52,201
--------
--------
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.
For the year ending 31 December 2023 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 .
Woodhaze Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 15 March 2024 , and are signed on behalf of the board by:
Mr A Woodcock
Director
Company registration number: 06970533
Woodhaze Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is New Bush Cottage, Llangennith, Swansea, SA3 1DR, Wales. The principal activities of the company during the year were ground maintenance, leaflet delivery and ultrasound photography.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances .
Revenue recognition
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 profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably .
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Franchise Fee (Registered Trademark)
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and 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.
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:
Plant and Machinery
-
25% reducing balance
Equipment
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised .
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 9 (2022: 9 ).
5. Intangible assets
Franchise fee
£
Cost
At 1 January 2023 and 31 December 2023
8,750
-------
Amortisation
At 1 January 2023 and 31 December 2023
8,750
-------
Carrying amount
At 31 December 2023
-------
At 31 December 2022
-------
6. Tangible assets
Plant and machinery
Equipment
Total
£
£
£
Cost
At 1 January 2023
61,735
9,088
70,823
Additions
3,455
3,455
Disposals
( 4,324)
( 4,324)
--------
--------
--------
At 31 December 2023
57,411
12,543
69,954
--------
--------
--------
Depreciation
At 1 January 2023
31,833
6,689
38,522
Charge for the year
6,395
1,464
7,859
--------
--------
--------
At 31 December 2023
38,228
8,153
46,381
--------
--------
--------
Carrying amount
At 31 December 2023
19,183
4,390
23,573
--------
--------
--------
At 31 December 2022
29,902
2,399
32,301
--------
--------
--------
7. Debtors
2023
2022
£
£
Trade debtors
7,575
4,430
Other debtors
1,477
1,156
-------
-------
9,052
5,586
-------
-------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Corporation tax
31,208
22,952
Other creditors
19,290
34,097
--------
--------
50,498
57,049
--------
--------