Registered number
12298388
Wood Property Legacy Ltd
Filleted Accounts
30 November 2023
Wood Property Legacy Ltd
Registered number: 12298388
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 678,789 678,956
Current assets
Cash at bank and in hand 10,315 12,676
Creditors: amounts falling due within one year 4 (139,413) (155,608)
Net current liabilities (129,098) (142,932)
Total assets less current liabilities 549,691 536,024
Creditors: amounts falling due after more than one year 5 (521,437) (521,437)
Net assets 28,254 14,587
Capital and reserves
Called up share capital 100 100
Profit and loss account 28,154 14,487
Shareholders' funds 28,254 14,587
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs L N Wood
Director
Approved by the board on 22.08.24
Wood Property Legacy Ltd
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover represents the net value of property transactions incurred in connection therewith.
Depreciation
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.
Fixtures, fittings, tools and equipment 25% Reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 December 2022 678,289 1,181 679,470
At 30 November 2023 678,289 1,181 679,470
Depreciation
At 1 December 2022 - 514 514
Charge for the year - 167 167
At 30 November 2023 - 681 681
Net book value
At 30 November 2023 678,289 500 678,789
At 30 November 2022 678,289 667 678,956
4 Creditors: amounts falling due within one year 2023 2022
£ £
Taxation and social security costs 3,714 2,862
Other creditors 135,699 152,746
139,413 155,608
5 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 521,437 521,437
6 Other information
Wood Property Legacy Ltd is a private company limited by shares and incorporated in England. Its registered office is:
Britannia House
16 Hall Quay
Great Yarmouth
NR30 1HP
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