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REGISTERED NUMBER: 03724634 (England and Wales)













Unaudited Financial Statements

for the Year Ended 30 April 2024

for

Woodley Inc. Limited

Woodley Inc. Limited (Registered number: 03724634)






Contents of the Financial Statements
for the Year Ended 30 April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Woodley Inc. Limited

Company Information
for the Year Ended 30 April 2024







DIRECTORS: J R C Harris
Mrs Y L Harris





SECRETARY: Mrs Y L Harris





REGISTERED OFFICE: 33 Henley Lane
Wookey
Wells
Somerset
BA5 1JN





REGISTERED NUMBER: 03724634 (England and Wales)





ACCOUNTANTS: A C Mole LLP
Chartered Accountants
Stafford House
Blackbrook Park Avenue
Taunton
Somerset
TA1 2PX

Woodley Inc. Limited (Registered number: 03724634)

Balance Sheet
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 662 779
Investment property 5 800,000 800,000
800,662 800,779

CURRENT ASSETS
Debtors 6 209 157
Cash at bank 38,456 26,384
38,665 26,541
CREDITORS
Amounts falling due within one year 7 78,278 8,879
NET CURRENT (LIABILITIES)/ASSETS (39,613 ) 17,662
TOTAL ASSETS LESS CURRENT
LIABILITIES

761,049

818,441

CREDITORS
Amounts falling due after more than one
year

8

-

(19,885

)

PROVISIONS FOR LIABILITIES (23,424 ) (23,424 )
NET ASSETS 737,625 775,132

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Non-distributable reserves 9 195,278 195,278
Retained earnings 9 541,347 578,854
SHAREHOLDERS' FUNDS 737,625 775,132

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 October 2024 and were signed on its behalf by:



J R C Harris - Director


Woodley Inc. Limited (Registered number: 03724634)

Notes to the Financial Statements
for the Year Ended 30 April 2024

1. STATUTORY INFORMATION

Woodley Inc. Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses.

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of the assets and liabilities within the next financial year are addressed below:

i) Valuation of investment properties
The company carries its investment property at fair value, with changes in fair value being recognised in profit or loss.

ii) Deferred taxation

Management estimation is required to determine the amount of deferred tax that should be provided, based on the value of investment properties and estimated tax due on any future sale.

Turnover
Turnover is measured at the fair value of the consideration received or receivable from the rental of properties, excluding discounts, value added tax and other sales taxes.

Revenue is recognised in the accounting period to which the rental relates.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 15% on reducing balance

Investment property
Investment property is initially recognised at cost and subsequently measured at fair value. Any aggregate surplus or deficit arising from changes in fair value is recognised in the income statement. In accordance with FRS 102 investment property is not depreciated.

Financial instruments
i) Financial assets
Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price and subsequently measured at amortised cost.

At the balance sheet date financial assets are assessed for evidence of impairment. If an asset is impaired the impairment loss is recognised in the income statement.

ii) Financial liabilities
Basic financial liabilities, including trade and other payables are initially recognised at transaction price and subsequently measured at amortised cost.


Woodley Inc. Limited (Registered number: 03724634)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the income statementIncome Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 May 2023
and 30 April 2024 4,068
DEPRECIATION
At 1 May 2023 3,289
Charge for year 117
At 30 April 2024 3,406
NET BOOK VALUE
At 30 April 2024 662
At 30 April 2023 779

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 800,000
NET BOOK VALUE
At 30 April 2024 800,000
At 30 April 2023 800,000

Woodley Inc. Limited (Registered number: 03724634)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2024

5. INVESTMENT PROPERTY - continued

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2016 122,223
Valuation in 2022 96,478
Cost 581,299
800,000

Investment properties are shown at fair value. All properties have been valued at open market basis on 30 April 2024 by the directors.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 209 157

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Corporation tax 2,723 4,679
Other creditors - 853
Directors' loan account 71,445 -
Accruals and deferred income 4,110 3,347
78,278 8,879

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Directors' loan account - 19,885

9. RESERVES
Retained Non-distributable
earnings reserves Totals
£    £    £   

At 1 May 2023 578,854 195,278 774,132
Profit for the year 11,493 11,493
Dividends (49,000 ) (49,000 )
At 30 April 2024 541,347 195,278 736,625