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REGISTERED NUMBER: 00262559 (England and Wales)















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

A D WOODLEY LIMITED

A D WOODLEY LIMITED (REGISTERED NUMBER: 00262559)

Contents of the Financial Statements
for the year ended 31 December 2023










Page

Company Information 1

Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


A D WOODLEY LIMITED

Company Information
for the year ended 31 December 2023







Directors: Mrs A M Hodgson
Mrs M R Wear
J C Woodley
Miss L J Woodley





Secretary: Mrs J Woodley





Registered office: Northfields Farm
Stretton on Fosse
Moreton in Marsh
Gloucestershire
GL56 9RE





Registered number: 00262559 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
A D Woodley Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of A D Woodley Limited for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of A D Woodley Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of A D Woodley Limited and state those matters that we have agreed to state to the Board of Directors of A D Woodley Limited, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that A D Woodley 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 A D Woodley Limited. You consider that A D Woodley 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 financial statements of A D Woodley 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.






Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA


4 September 2024

A D WOODLEY LIMITED (REGISTERED NUMBER: 00262559)

Balance Sheet
31 December 2023

2023 2022
Notes £ £ £ £
Fixed assets
Tangible assets 4 - -
Investments 5 1 1
1 1

Current assets
Debtors 6 - 2
Cash at bank 236,078 239,799
236,078 239,801
Creditors
Amounts falling due within one year 7 195,472 196,472
Net current assets 40,606 43,329
Total assets less current liabilities 40,607 43,330

Capital and reserves
Called up share capital 8 100 100
Retained earnings 9 40,507 43,230
Shareholders' funds 40,607 43,330

A D WOODLEY LIMITED (REGISTERED NUMBER: 00262559)

Balance Sheet - continued
31 December 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 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 28 August 2024 and were signed on its behalf by:





Mrs A M Hodgson - Director


A D WOODLEY LIMITED (REGISTERED NUMBER: 00262559)

Notes to the Financial Statements
for the year ended 31 December 2023


1. Statutory information

A D Woodley 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 financial statements are presented in Sterling, which is the functional currency of the company, rounded to the nearest £1.

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.

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 - 25% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income 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.

Investments
Fixed asset investments are stated at cost less provision for diminution in value.

Going concern
The directors have made an assessment of the company's ability to continue as a going concern and have identified no material uncertainties that may cast a significant doubt on the ability of the company to continue as a going concern in the foreseeable future.

3. Employees and directors

The average number of employees during the year was NIL (2022 - NIL).

A D WOODLEY LIMITED (REGISTERED NUMBER: 00262559)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


4. Tangible fixed assets
Plant and
machinery
etc
£
Cost
At 1 January 2023
and 31 December 2023 731
Depreciation
At 1 January 2023
and 31 December 2023 731
Net book value
At 31 December 2023 -

5. Fixed asset investments
Other
investments
£
Cost
At 1 January 2023
and 31 December 2023 1
Net book value
At 31 December 2023 1
At 31 December 2022 1

6. Debtors: amounts falling due within one year
2023 2022
£ £
Other debtors - 2

7. Creditors: amounts falling due within one year
2023 2022
£ £
Other creditors 195,472 196,472

8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £ £
100 Ordinary £ 100 100

A D WOODLEY LIMITED (REGISTERED NUMBER: 00262559)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


9. Reserves
Retained
earnings
£

At 1 January 2023 43,230
Deficit for the year (2,723 )
At 31 December 2023 40,507

10. Ultimate controlling party

No one has overall control of the company.

11. Film partnerships - year ended 31/12/2009

HMRC issued an Advance Payment Notice (APN) on 1 December 2017 which showed an amount due of £1,539,942. This does not take into account the sum of £1,000,000 which was paid in October 2014 in respect of the film partnership losses, nor the extra rollover relief due for 2009.

The rollover relief claim was agreed on 18 May 2020, and this gave rise to an overpayment of £206,550.

The amount payable under the APN has been covered by the overpayment of £206,550, the payment of £1,000,000 and the sum of £333,392 paid on 9 March 2018.

Representations have been made against the amount shown on the APN. These have been considered by HMRC. As a result, the amount due under the APN was reduced on 7 February 2022 to £1,256,395.

A case involving film partnerships was heard before the Upper Tier Tribunal in July 2019; the result of that case, if applied to the company's situation, would be that none of the claimed losses would be allowable. The taxpayers in that case appealed to the Court of Appeal. The Court of Appeal found that the partnerships were trading with a view to a profit, but the losses would be much reduced. The decision is now final.

However, there are still some unresolved issues, including the treatment of the film production costs for corporation tax purposes. No agreement has been reached with HMRC, and this will need to be considered by the First Tier Tribunal. An initial hearing before the Tribunal is unlikely to be heard before the last quarter of 2024.

Despite the reduction in the amount of the APN, the directors consider that the whole of the tax paid would not be recoverable, so they have provided for this and the interest due on the payment.