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REGISTERED NUMBER: 10924120 (England and Wales)













Unaudited Financial Statements

for the Year Ended 31st March 2024

for

Woodford Children's Home Limited

Woodford Children's Home Limited (Registered number: 10924120)






Contents of the Financial Statements
for the Year Ended 31st March 2024




Page

Company information 1

Abridged statement of financial position 2

Notes to the financial statements 4


Woodford Children's Home Limited

Company Information
for the Year Ended 31st March 2024







Director: P A I Carr





Registered office: Abacus House
14-18 Forest Road
Loughton
Essex
IG10 1DX





Registered number: 10924120 (England and Wales)





Accountants: Cooper Paul
Abacus House
14-18 Forest Road
Loughton
Essex
IG10 1DX

Woodford Children's Home Limited (Registered number: 10924120)

Abridged Statement of Financial Position
31st March 2024

2024 2023
Notes £    £   
Fixed assets
Tangible assets 4 55,238 66,657

Current assets
Debtors 261,768 343,110
Cash at bank and in hand 689,695 123,820
951,463 466,930
Creditors
Amounts falling due within one year (638,559 ) (273,964 )
Net current assets 312,904 192,966
Total assets less current liabilities 368,142 259,623

Capital and reserves
Called up share capital 100 100
Retained earnings 368,042 259,523
Shareholders' funds 368,142 259,623

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Woodford Children's Home Limited (Registered number: 10924120)

Abridged Statement of Financial Position - continued
31st March 2024


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

All the members have consented to the preparation of an abridged Income statement and an abridged Statement of financial position for the year ended 31st March 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the director and authorised for issue on 10th September 2024 and were signed by:





P A I Carr - Director


Woodford Children's Home Limited (Registered number: 10924120)

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

1. Statutory information

Woodford Children's Home 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.

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.

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

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 reducing balance and 15% on reducing balance

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 48 (2023 - 44 ) .

Woodford Children's Home Limited (Registered number: 10924120)

Notes to the Financial Statements - continued
for the Year Ended 31st March 2024

4. Tangible fixed assets
Totals
£   
Cost
At 1st April 2023 93,797
Additions 864
At 31st March 2024 94,661
Depreciation
At 1st April 2023 27,140
Charge for year 12,283
At 31st March 2024 39,423
Net book value
At 31st March 2024 55,238
At 31st March 2023 66,657

5. Related party disclosures

Woodford Employee Ownership Trust ("Trust") holds the entire share capital for the future benefit of the company's employees. The funding for the transaction (and the associated costs) were partially achieved by an initial contribution by the company.

The balance of the transaction was funded by the previous owner of the business and a healthcare loan facility. The loans due are an obligation of the Trust. During the year the company made contributions of £745,018.83 to the Trust.

The director is of the opinion that de facto control does not exist and therefore excluded the assets and liabilities of the Trust from these financial statements and consolidated accounts have not been prepared.

Woodford Children's Home Limited holds the entire share capital of Woodford Children's Services Limited. During the year a dividend was paid from Woodford Chidlren's Services Limited to the company of £750,000.00. During the year the company provided and received loans from group companies. The balance outstanding due (to)/from group companies and related parties at 31 March 2024 are as follows:

2024 2023
£    £   
Amount owed (to)/from group companies (481,066 ) -

6. Ultimate controlling party

On 30 June 2023 the Woodford Employee Ownership Trust became the beneficial owner of 100% of the ordinary share capital of Woodford Children's Home Limited. The shares are held by Woodford EOT Limited as its capacity as corporate trustee.