Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312023-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false2023-01-01property development00falsetrue 08375551 2023-01-01 2023-12-31 08375551 2022-01-01 2022-12-31 08375551 2023-12-31 08375551 2022-12-31 08375551 2022-01-01 08375551 c:Director1 2023-01-01 2023-12-31 08375551 d:CurrentFinancialInstruments 2023-12-31 08375551 d:CurrentFinancialInstruments 2022-12-31 08375551 d:Non-currentFinancialInstruments 2023-12-31 08375551 d:Non-currentFinancialInstruments 2022-12-31 08375551 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 08375551 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 08375551 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 08375551 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 08375551 d:ShareCapital 2023-01-01 2023-12-31 08375551 d:ShareCapital 2023-12-31 08375551 d:ShareCapital 2022-01-01 2022-12-31 08375551 d:ShareCapital 2022-12-31 08375551 d:ShareCapital 2022-01-01 08375551 d:RetainedEarningsAccumulatedLosses 2023-01-01 2023-12-31 08375551 d:RetainedEarningsAccumulatedLosses 2023-12-31 08375551 d:RetainedEarningsAccumulatedLosses 2022-01-01 2022-12-31 08375551 d:RetainedEarningsAccumulatedLosses 2022-12-31 08375551 d:RetainedEarningsAccumulatedLosses 2022-01-01 08375551 c:OrdinaryShareClass1 2023-01-01 2023-12-31 08375551 c:OrdinaryShareClass1 2023-12-31 08375551 c:OrdinaryShareClass1 2022-12-31 08375551 c:FRS102 2023-01-01 2023-12-31 08375551 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 08375551 c:FullAccounts 2023-01-01 2023-12-31 08375551 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08375551 d:Subsidiary1 2023-01-01 2023-12-31 08375551 d:Subsidiary1 1 2023-01-01 2023-12-31 08375551 c:Consolidated 2023-12-31 08375551 c:ConsolidatedGroupCompanyAccounts 2023-01-01 2023-12-31 08375551 2 2023-01-01 2023-12-31 08375551 6 2023-01-01 2023-12-31 08375551 e:PoundSterling 2023-01-01 2023-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 08375551









WOOD HALL (PENTONVILLE) LTD







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
WOOD HALL (PENTONVILLE) LTD
REGISTERED NUMBER: 08375551

CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Stocks
 5 
5,050,001
5,050,001

Debtors: amounts falling due within one year
 6 
133,506
91,332

Cash at bank and in hand
  
94,059
53,706

  
5,277,566
5,195,039

Creditors: amounts falling due within one year
 7 
(147,792)
(1,942,346)

Net current assets
  
 
 
5,129,774
 
 
3,252,693

Total assets less current liabilities
  
5,129,774
3,252,693

Creditors: amounts falling due after more than one year
 8 
(13,654,148)
(11,136,087)

  

Net liabilities
  
(8,524,374)
(7,883,394)


Capital and reserves
  

Called up share capital 
 9 
120
120

Profit and loss account
  
(8,524,494)
(7,883,514)

  
(8,524,374)
(7,883,394)


The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the consolidated statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.
 
Page 1

 
WOOD HALL (PENTONVILLE) LTD
REGISTERED NUMBER: 08375551
    
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 





................................................
A L Cohen
Director
Date: 24 July 2024

The notes on pages 7 to 13 form part of these financial statements.

Page 2

 
WOOD HALL (PENTONVILLE) LTD
REGISTERED NUMBER: 08375551

COMPANY STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Investments
 4 
100
100

  
100
100

Current assets
  

Stocks
 5 
1
1

Debtors: amounts falling due within one year
 6 
79,694
6,636

Cash at bank and in hand
  
18,764
34,939

  
98,459
41,576

Creditors: amounts falling due within one year
 7 
(106,657)
(1,919,870)

Net current liabilities
  
 
 
(8,198)
 
 
(1,878,294)

Total assets less current liabilities
  
(8,098)
(1,878,194)

  

Creditors: amounts falling due after more than one year
 8 
(4,130,925)
(2,079,094)

  

Net liabilities
  
(4,139,023)
(3,957,288)


Capital and reserves
  

Called up share capital 
 9 
120
120

Profit and loss account brought forward
  
(3,957,408)
(3,584,088)

Loss for the year
  
(181,735)
(373,320)

Profit and loss account carried forward
  
(4,139,143)
(3,957,408)

  
(4,139,023)
(3,957,288)


The director considers that the Company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
 
Page 3

 
WOOD HALL (PENTONVILLE) LTD
REGISTERED NUMBER: 08375551
    
COMPANY STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023


The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the consolidated statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






................................................
A L Cohen
Director
Date: 24 July 2024

The notes on pages 7 to 13 form part of these financial statements.

Page 4

 
WOOD HALL (PENTONVILLE) LTD
 

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Profit and loss account
Equity attributable to owners of parent Company
Total equity

£
£
£
£


At 1 January 2022
120
(3,756,491)
(3,756,371)
(3,756,371)


Comprehensive income for the year

Loss for the year
-
(4,127,023)
(4,127,023)
(4,127,023)
Total comprehensive income for the year
-
(4,127,023)
(4,127,023)
(4,127,023)



At 1 January 2023
120
(7,883,514)
(7,883,394)
(7,883,394)


Comprehensive income for the year

Loss for the year
-
(640,980)
(640,980)
(640,980)
Total comprehensive income for the year
-
(640,980)
(640,980)
(640,980)


At 31 December 2023
120
(8,524,494)
(8,524,374)
(8,524,374)


The notes on pages 7 to 13 form part of these financial statements.

Page 5

 
WOOD HALL (PENTONVILLE) LTD
 

COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2023


Called up share capital
Profit and loss account
Total equity

£
£
£


At 1 January 2022
120
(3,584,088)
(3,583,968)


Comprehensive income for the year

Loss for the year
-
(373,320)
(373,320)
Total comprehensive income for the year
-
(373,320)
(373,320)



At 1 January 2023
120
(3,957,408)
(3,957,288)


Comprehensive income for the year

Loss for the year
-
(181,735)
(181,735)
Total comprehensive income for the year
-
(181,735)
(181,735)


At 31 December 2023
120
(4,139,143)
(4,139,023)


The notes on pages 7 to 13 form part of these financial statements.

Page 6

 
WOOD HALL (PENTONVILLE) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Wood Hall (Pentonville) Ltd is a private company limited by shares incorporated in England and Wales. 
The registered office is Wood Hall Farm Office, Wood Hall Lane, Shenley, Hertfordshire, WD7 9AA. 
The principal activity of the company and group continues to be that of property development. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires Group management to exercise judgment in applying the Group's accounting policies.

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of comprehensive income in these financial statements.

The following principal accounting policies have been applied:

 
2.2

Basis of consolidation

The consolidated financial statements present the results of the Company and its own subsidiaries ("the Group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Statement of financial position, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated statement of comprehensive income from the date on which control is obtained. They are deconsolidated from the date control ceases.

 
2.3

Going concern

At the time of approving the financial statements, the director has reasonable expectation that the company and group have adequate resources to continue in operational existence for the foreseeable future.
Although the company shows a net liability position on the balance sheet, the main creditor is a loan from a company under common control and ultimately by the shareholder. Repayment of these loans or the interest charged on them will not be sought if it would impair the continued operation of any of the group companies and external lenders will be given priority.
Thus, the director continues to adopt the going concern basis of accounting in preparing the financial statements.

Page 7

 
WOOD HALL (PENTONVILLE) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.4

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

 
2.5

Operating leases: the Group as lessor

Rental income from operating leases is credited to profit or loss on a straight-line basis over the lease term.

Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term. 

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.9

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 and the Group operate and generate income.

Page 8

 
WOOD HALL (PENTONVILLE) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.10

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.11

Stocks

Stocks of properties are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises of direct costs that have been incurred in brining in the stocks to their present condition. Borrowing costs are not capitalised and are expensed in the profit and loss in the period in which they are incurred. 

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in the profit or loss. Reversals of impairment losses are also recognised in the profit or loss. 

 
2.12

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets 
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Impairment of financial assets 
Financial assets, are assessed for indicators of impairment at each reporting end date.
Impairment losses are recognised in profit of loss.
Classification of financial liabilities 
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the  company after deducting all of its liabilities.
Basic financial Liabilities
Basic financial liabilities, including creditors, bank and other loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Page 9

 
WOOD HALL (PENTONVILLE) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)


2.12
Financial instruments (continued)

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

  
2.13

Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.


3.


Employees

The average monthly number of employees, including the director, during the year was as follows:


        2023
        2022
            No.
            No.







Directors
1
2

The Company has no employees other than the director, who did not receive any remuneration (2022 - £NIL)

4.


Fixed asset investments

Company





Investments in subsidiary companies

£



Cost or valuation


At 1 January 2023
100



At 31 December 2023
100




Page 10

 
WOOD HALL (PENTONVILLE) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

Subsidiary undertaking


The following was a subsidiary undertaking of the Company:

Name

Registered office

Principal activity

Class of shares

Holding

Wood Hall (Claremont) Ltd
Wood Hall Farm Office, Woodhall Lane, Shenley, WD7 9AA
Property Development
Ordinary
100%


5.


Stocks

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Finished goods and goods for resale
5,050,001
5,050,001
1
1

5,050,001
5,050,001
1
1



6.


Debtors

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£


Trade debtors
10,085
16,176
507
-

Amounts owed by group undertakings
17,317
3,357
-
296

Amounts owed by joint ventures and associated undertakings
36,260
-
36,260
-

Other debtors
7,629
5,409
2,144
1,173

Prepayments and accrued income
62,215
66,390
40,783
5,167

133,506
91,332
79,694
6,636


Page 11

 
WOOD HALL (PENTONVILLE) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Creditors: Amounts falling due within one year

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Bank loans
-
1,864,057
-
1,864,057

Trade creditors
53,870
18,346
16,235
5,119

Amounts owed to group undertakings
41,833
42,810
41,833
42,810

Other creditors
-
7,883
-
7,884

Accruals and deferred income
52,089
9,250
48,589
-

147,792
1,942,346
106,657
1,919,870



8.


Creditors: Amounts falling due after more than one year

Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£

Bank loans
3,000,000
-
3,000,000
-

Amounts owed to group undertakings
10,654,148
11,136,087
1,130,925
2,079,094

13,654,148
11,136,087
4,130,925
2,079,094



The following liabilities were secured:
Group
Group
Company
Company
2023
2022
2023
2022
£
£
£
£


Bank loans due within one year
3,000,000
1,864,057
3,000,000
1,864,057

3,000,000
1,864,057
3,000,000
1,864,057

Details of security provided:

Bank loans are secured on the value of freehold property held in the subsidiary company.


9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



120 (2022 - 120) Ordinary shares of £1.00 each
120
120


Page 12

 
WOOD HALL (PENTONVILLE) LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Controlling party

The immediate parent undertaking is Wood Hall Developments Ltd, a company incorporated in the United Kingdom. 
The ultimate parent undertaking is Wood Hall Securities Limited, a company incorporated in the United Kingdom, the registered address is Wood Hall Farm Office, Wood Hall Lane, Shenley, Hertfordshire, WD7 9AA. 

 
Page 13