Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-312false2023-01-01falseNo description of principal activity2trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10660586 2023-01-01 2023-12-31 10660586 2022-01-01 2022-12-31 10660586 2023-12-31 10660586 2022-12-31 10660586 2022-01-01 10660586 c:Director1 2023-01-01 2023-12-31 10660586 d:CurrentFinancialInstruments 2023-12-31 10660586 d:CurrentFinancialInstruments 2022-12-31 10660586 d:Non-currentFinancialInstruments 2023-12-31 10660586 d:Non-currentFinancialInstruments 2022-12-31 10660586 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 10660586 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 10660586 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 10660586 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 10660586 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 10660586 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 10660586 d:ShareCapital 2023-12-31 10660586 d:ShareCapital 2022-12-31 10660586 d:RetainedEarningsAccumulatedLosses 2023-12-31 10660586 d:RetainedEarningsAccumulatedLosses 2022-12-31 10660586 c:FRS102 2023-01-01 2023-12-31 10660586 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 10660586 c:FullAccounts 2023-01-01 2023-12-31 10660586 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 10660586 8 2023-01-01 2023-12-31 10660586 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 10660586









WOOD HALL (CITY ROAD) LTD







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
WOOD HALL (CITY ROAD) LTD
REGISTERED NUMBER: 10660586

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

  

Current assets
  

Stocks
  
8,854,969
8,792,059

Debtors: amounts falling due within one year
 5 
86,686
303,639

Cash at bank and in hand
  
164,685
67,541

  
9,106,340
9,163,239

Creditors: amounts falling due within one year
 6 
(6,630,288)
(5,386,498)

Net current assets
  
 
 
2,476,052
 
 
3,776,741

Total assets less current liabilities
  
2,476,052
3,776,741

Creditors: amounts falling due after more than one year
 7 
(6,809,689)
(7,609,689)

  

Net liabilities
  
(4,333,637)
(3,832,948)


Capital and reserves
  

Called up share capital 
  
120
120

Profit and loss account
  
(4,333,757)
(3,833,068)

  
(4,333,637)
(3,832,948)


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 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.




 
Page 1

 
WOOD HALL (CITY ROAD) LTD
REGISTERED NUMBER: 10660586
    
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: 2 September 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

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

1.


General information

Wood Hall (City Road) 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 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 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 at the fair value of the consideration received or receivable for properties sold in the normal course of business, and is shown net of VAT and other sales related taxes.
Revenue from the sale of properties is recognised when the significant risks and rewards of ownership of the property has passed to the buyer (usually on completion), the amount of revenue can be measured reliably, it is probable that the economic benefits will flow to the group, usually on completion, and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

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.

 
2.4

Borrowing costs

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

Page 3

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

2.Accounting policies (continued)

 
2.5

Current and deferred 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 operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.6

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 bringing the stocks to their present condition. Borrowing costs are not capitalised and are expensed in the profit or 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.

 
2.7

Provisions for liabilities

Provisions are made where an event has taken place that gives the Company a legal or constructive
obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate
can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware
of the obligation, and are measured at the best estimate at the reporting date of the expenditure
required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Statement of
financial position.

Page 4

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

2.Accounting policies (continued)

 
2.8

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 or 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.
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.


3.


Employees




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

Page 5

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

4.


Stocks

2023
2022
£
£

Finished goods and goods for resale
8,854,969
8,792,059

8,854,969
8,792,059



5.


Debtors

2023
2022
£
£


Amounts owed by group undertakings
57,067
51,139

Other debtors
14,208
197,698

Prepayments and accrued income
15,411
54,802

86,686
303,639



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Other loans
6,574,455
5,343,979

Trade creditors
52,583
39,269

Accruals and deferred income
3,250
3,250

6,630,288
5,386,498





7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other loans
6,809,689
7,609,689


Page 6

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

8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Other loans
6,574,455
5,343,979

Amounts falling due 1-2 years

Other loans
6,809,689
7,609,689



13,384,144
12,953,668



9.


Deferred taxation


2022


£






At beginning of year
166,019


Charged to profit or loss
(166,019)



At end of year
-


10.


Provisions








At 31 December 2023


11.Director's personal guarantees

The director has guaranteed a bank loan on behalf of the company.


12.


Related party transactions

Included within creditors, is a loan payable to the parent company of £5,574,455 (2022 - £4,093,979). The loan has an interest rate of 1% above the base rate of the Bank of England. 
 

 
Page 7