REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Year Ended 31st March 2024 |
for |
Woodford Children's Home Limited |
REGISTERED NUMBER: |
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: |
Registered office: |
Registered number: |
Accountants: |
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 |
Current assets |
Debtors |
Cash at bank and in hand |
Creditors |
Amounts falling due within one year | ( |
) | ( |
) |
Net current assets |
Total assets less current liabilities |
Capital and reserves |
Called up share capital |
Retained earnings |
Shareholders' funds |
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 |
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 |
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 |
2. | Accounting policies |
Basis of preparing the financial statements |
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 |
Plant and machinery etc | - |
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 |
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 |
Additions |
At 31st March 2024 |
Depreciation |
At 1st April 2023 |
Charge for year |
At 31st March 2024 |
Net book value |
At 31st March 2024 |
At 31st March 2023 |
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. |