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Registration number: 0261428

Woodstock Estates Limited

Annual Report and Unaudited Financial Statements Year Ended 31 March 2024

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Chartered Accountants

 

Woodstock Estates Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 8

 

Woodstock Estates Limited

Company Information

Directors

Mr P S C Ross Skinner

Mr S A C Ross Skinner

Mr S F C Ross Skinner

Mrs V C Ross Skinner

Registered office

Warmwell House
DORCHESTER
Dorset
DT2 8HQ

Accountants

Edwards and Keeping
Chartered Accountants
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Woodstock Estates Limitedfor the Year Ended 31 March 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Woodstock Estates Limited for the year ended 31 March 2024 as set out on pages 3 to 8 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
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Woodstock Estates Limited, as a body, in accordance with the terms of our engagement letter dated 11 November 2011. Our work has been undertaken solely to prepare for your approval the accounts of Woodstock Estates Limited and state those matters that we have agreed to state to the Board of Directors of Woodstock Estates Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Woodstock Estates Limited and its Board of Directors as a body for our work or for this report.

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

We have not been instructed to carry out an audit or a review of the accounts of Woodstock Estates 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 accounts.






Edwards and Keeping
Chartered Accountants
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

3 September 2024

 

Woodstock Estates Limited

(Registration number: 0261428)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

           

Fixed assets

   

 

Tangible assets

4

 

1,166,363

 

1,168,582

Other financial assets

5

 

333,028

 

333,028

   

1,499,391

 

1,501,610

Current assets

   

 

Stocks

1,900,811

 

1,900,811

 

Debtors

6

1,880,720

 

1,893,283

 

Cash at bank and in hand

 

35,151

 

141,924

 

 

3,816,682

 

3,936,018

 

Creditors: Amounts falling due within one year

7

(278,447)

 

(410,962)

 

Net current assets

   

3,538,235

 

3,525,056

Net assets

   

5,037,626

 

5,026,666

Capital and reserves

   

 

Called up share capital

8

100

 

100

 

Profit and loss account

5,037,526

 

5,026,566

 

Total equity

   

5,037,626

 

5,026,666

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 3 September 2024 and signed on its behalf by:
 



Mr S A C Ross Skinner
Director

 

Woodstock Estates Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Warmwell House
DORCHESTER
Dorset
DT2 8HQ

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Woodstock Estates Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2024

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

10% straight line

Fixtures and fittings

10% straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2023 - 4).

 

Woodstock Estates Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2024

4

Tangible assets

Land and buildings
£

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2023

1,163,267

22,194

3,565

1,189,026

At 31 March 2024

1,163,267

22,194

3,565

1,189,026

Depreciation

At 1 April 2023

-

17,192

3,252

20,444

Charge for the year

-

2,219

-

2,219

At 31 March 2024

-

19,411

3,252

22,663

Carrying amount

At 31 March 2024

1,163,267

2,783

313

1,166,363

At 31 March 2023

1,163,267

5,002

313

1,168,582

Included within the net book value of land and buildings above is £1,163,267 (2023 - £1,163,267) in respect of freehold land and buildings.
 

5

Other financial assets (current and non-current)

Unlisted investments
£

Total
£

Non-current financial assets

Cost or valuation

At 1 April 2023

333,028

333,028

At 31 March 2024

333,028

333,028

Impairment

Carrying amount

At 31 March 2024

333,028

333,028

Investments have been made since December 1990 in Ege Restorasyon ve Ticaret AS, which is a Company incorporated in Turkey. The company and its nominees holds 51,000 shares out of an issued share capital of 100,000 shares of TL10,000. FID approval has been obtained and properties in Turkey have been acquired. The investment is included at cost. In March 2005, Ege Restorasyon ve Ticaret AS entered into a contract with GBH Turizm Sanayi Isletmecilik ve Ticaret Anonim Sirketi to develop and eventually realise value from the investment.

 

Woodstock Estates Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2024

6

Debtors

Current

2024
£

2023
£

Trade debtors

116,514

117,088

Prepayments

17,943

17,942

Other debtors

1,746,263

1,758,253

 

1,880,720

1,893,283

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

11,052

400,187

Taxation and social security

-

1,385

Accruals and deferred income

1,500

1,501

Other creditors

265,895

7,889

278,447

410,962

 

Woodstock Estates Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 March 2024

8

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary shares of £0.25 each

400

100

400

100

         

9

Related party transactions

Transactions with directors

2024

At 1 April 2023
£

Repayments by director
£

At 31 March 2024
£

Mr S F C Ross Skinner

Directors loan

3,280

(1,200)

2,080

       
     

Mr P S C Ross Skinner

Directors Loan

23,814

(3,000)

20,814

       
     

 

2023

At 1 April 2022
£

Repayments by director
£

At 31 March 2023
£

Mr S F C Ross Skinner

Directors loan

5,080

(1,800)

3,280

       
     

Mr P S C Ross Skinner

Directors Loan

25,945

(2,131)

23,814

       
     

 

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

9,000

9,000