Caseware UK (AP4) 2023.0.135 2023.0.135 falseNo description of principal activity2022-12-3122truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 06680543 2022-12-31 2023-12-30 06680543 2021-12-31 2022-12-30 06680543 2023-12-30 06680543 2022-12-30 06680543 c:Director1 2022-12-31 2023-12-30 06680543 d:FurnitureFittings 2022-12-31 2023-12-30 06680543 d:FurnitureFittings 2023-12-30 06680543 d:FurnitureFittings 2022-12-30 06680543 d:CurrentFinancialInstruments 2023-12-30 06680543 d:CurrentFinancialInstruments 2022-12-30 06680543 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-30 06680543 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-30 06680543 d:ShareCapital 2023-12-30 06680543 d:ShareCapital 2022-12-30 06680543 d:RetainedEarningsAccumulatedLosses 2023-12-30 06680543 d:RetainedEarningsAccumulatedLosses 2022-12-30 06680543 c:FRS102 2022-12-31 2023-12-30 06680543 c:AuditExemptWithAccountantsReport 2022-12-31 2023-12-30 06680543 c:FullAccounts 2022-12-31 2023-12-30 06680543 c:PrivateLimitedCompanyLtd 2022-12-31 2023-12-30 06680543 2 2022-12-31 2023-12-30 06680543 e:PoundSterling 2022-12-31 2023-12-30 iso4217:GBP xbrli:pure

Registered number: 06680543










Woolshed Designs Limited








Unaudited

Financial statements

Information for filing with the registrar

For the year ended 30 December 2023

 
Woolshed Designs Limited
 
  
Chartered accountants' report to the board of directors on the preparation of the unaudited statutory financial statements of Woolshed Designs Limited for the year ended 30 December 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Woolshed Designs Limited for the year ended 30 December 2023 which comprise the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the Board of directors of Woolshed Designs Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Woolshed Designs Limited  and state those matters that we have agreed to state to the Board of directors of Woolshed Designs Limited, as a body, in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Woolshed Designs Limited and its Board of directors, as a body, for our work or for this report. 

It is your duty to ensure that Woolshed Designs Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Woolshed Designs Limited. You consider that Woolshed Designs Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Woolshed Designs Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

  



Kreston Reeves LLP
Chartered Accountants
9 Donnington Park
85 Birdham Road
Chichester
West Sussex
PO20 7AJ
7 August 2024
Page 1

 
Woolshed Designs Limited
Registered number: 06680543

Balance sheet
As at 30 December 2023

2023
2022
Note
£
£

  

Current assets
  

Stocks
  
5,704
5,163

Debtors: amounts falling due within one year
 5 
20,400
29,515

Cash at bank and in hand
  
11,264
10,780

  
37,368
45,458

Creditors: amounts falling due within one year
 6 
(21,966)
(26,759)

Net current assets
  
 
 
15,402
 
 
18,699

Total assets less current liabilities
  
15,402
18,699

  

Net assets
  
15,402
18,699


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
15,302
18,599

  
15,402
18,699


The directors consider 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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 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 statement of income and retained earnings 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: 




................................................
J R C Lamb
Director
Date: 1 August 2024

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
Woolshed Designs Limited
 

 
Notes to the financial statements
For the year ended 30 December 2023

1.


General information

Woolshed Designs Limited is a private company limited by share capital incorporated in England and Wales. It's registered number is: 06680543
The address of its principal place of business is:
Nyewood Court
Brookers Road
Billingshurst
West Sussex
RH14 9RZ

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:
 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 3

 
Woolshed Designs Limited
 

 
Notes to the financial statements
For the year ended 30 December 2023

2.Accounting policies (continued)

 
2.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

The estimated useful lives range as follows:

Fixtures and fittings
-
3
Years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” 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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Page 4

 
Woolshed Designs Limited
 

 
Notes to the financial statements
For the year ended 30 December 2023

2.Accounting policies (continued)

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.8

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.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.9

Interest income

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

 
2.10

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 balance sheet date in the countries where the Company operates and generates income.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

Page 5

 
Woolshed Designs Limited
 

 
Notes to the financial statements
For the year ended 30 December 2023

4.


Tangible fixed assets





Fixtures and fittings

£





At 31 December 2022
955


Disposals
(955)



At 30 December 2023

-





At 31 December 2022
955


Disposals
(955)



At 30 December 2023

-



Net book value



At 30 December 2023
-



At 30 December 2022
-


5.


Debtors

2023
2022
£
£


Other debtors
20,400
29,515

20,400
29,515



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Corporation tax
-
5,063

Other taxation and social security
8,020
7,870

Other creditors
11,426
11,426

Accruals and deferred income
2,520
2,400

21,966
26,759


Page 6