IRIS Accounts Production v24.2.0.383 06383054 Board of Directors Board of Directors 1.1.23 31.12.23 31.12.23 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh063830542022-12-31063830542023-12-31063830542023-01-012023-12-31063830542021-12-31063830542022-01-012022-12-31063830542022-12-3106383054ns15:EnglandWales2023-01-012023-12-3106383054ns14:PoundSterling2023-01-012023-12-3106383054ns10:Director12023-01-012023-12-3106383054ns10:Director22023-01-012023-12-3106383054ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3106383054ns10:SmallEntities2023-01-012023-12-3106383054ns10:AuditExempt-NoAccountantsReport2023-01-012023-12-3106383054ns10:SmallCompaniesRegimeForDirectorsReport2023-01-012023-12-3106383054ns10:SmallCompaniesRegimeForAccounts2023-01-012023-12-3106383054ns10:FullAccounts2023-01-012023-12-310638305412023-01-012023-12-3106383054ns10:CompanySecretary12023-01-012023-12-3106383054ns10:RegisteredOffice2023-01-012023-12-3106383054ns5:CurrentFinancialInstruments2023-12-3106383054ns5:CurrentFinancialInstruments2022-12-3106383054ns5:ShareCapital2023-12-3106383054ns5:ShareCapital2022-12-3106383054ns5:SharePremium2023-12-3106383054ns5:SharePremium2022-12-3106383054ns5:RetainedEarningsAccumulatedLosses2023-12-3106383054ns5:RetainedEarningsAccumulatedLosses2022-12-3106383054ns5:NetGoodwill2023-01-012023-12-3106383054ns5:IntangibleAssetsOtherThanGoodwill2023-01-012023-12-3106383054ns5:NetGoodwill2022-12-3106383054ns5:NetGoodwill2023-12-3106383054ns5:NetGoodwill2022-12-3106383054ns5:LeaseholdImprovements2022-12-3106383054ns5:FurnitureFittings2022-12-3106383054ns5:MotorVehicles2022-12-3106383054ns5:LeaseholdImprovements2023-01-012023-12-3106383054ns5:FurnitureFittings2023-01-012023-12-3106383054ns5:MotorVehicles2023-01-012023-12-3106383054ns5:LeaseholdImprovements2023-12-3106383054ns5:FurnitureFittings2023-12-3106383054ns5:MotorVehicles2023-12-3106383054ns5:LeaseholdImprovements2022-12-3106383054ns5:FurnitureFittings2022-12-3106383054ns5:MotorVehicles2022-12-3106383054ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-3106383054ns5:WithinOneYearns5:CurrentFinancialInstruments2022-12-3106383054ns5:WithinOneYear2023-12-3106383054ns5:WithinOneYear2022-12-3106383054ns5:BetweenOneFiveYears2023-12-3106383054ns5:BetweenOneFiveYears2022-12-3106383054ns5:AllPeriods2023-12-3106383054ns5:AllPeriods2022-12-3106383054ns5:DeferredTaxation2022-12-3106383054ns5:DeferredTaxation2023-12-31
REGISTERED NUMBER: 06383054 (England and Wales)




















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Woods Business Services Limited

Woods Business Services Limited (Registered number: 06383054)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Woods Business Services Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: J Banger
J G Sieberhagen





SECRETARY: Ms R M Shutter





REGISTERED OFFICE: 7 Sheldon Business Park
Chippenham
Wiltshire
SN14 0SQ





REGISTERED NUMBER: 06383054 (England and Wales)

Woods Business Services Limited (Registered number: 06383054)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 8,051 11,701
8,051 11,701

CURRENT ASSETS
Stocks 6 22,914 26,378
Debtors 7 155,925 163,429
Cash at bank and in hand 416,445 398,131
595,284 587,938
CREDITORS
Amounts falling due within one year 8 160,784 114,949
NET CURRENT ASSETS 434,500 472,989
TOTAL ASSETS LESS CURRENT
LIABILITIES

442,551

484,690

PROVISIONS FOR LIABILITIES 10 - 2,223
NET ASSETS 442,551 482,467

CAPITAL AND RESERVES
Called up share capital 16,875 16,875
Share premium 68,920 68,920
Retained earnings 356,756 396,672
SHAREHOLDERS' FUNDS 442,551 482,467

Woods Business Services Limited (Registered number: 06383054)

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 12 September 2024 and were signed on its behalf by:




J Banger - Director



J G Sieberhagen - Director


Woods Business Services Limited (Registered number: 06383054)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Woods Business Services 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.

Goodwill
Goodwill arising on the acquisition of subsidiary undertakings and businesses, representing any excess of the fair value of the consideration given over the fair value of the identifiable assets and liabilities acquired, is capitalised and written off on a straight line basis over its useful economic life which is five years. Provision is made for any impairment.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Tangible assets are stated at cost less accumulated depreciation and accumulated impairment losses. Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restoration costs and borrowing costs capitalised.

Depreciation and residual values

Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset over its expected useful life as follows:

Improvements to property- 20% on straight line basis
Fixtures and fittings- 25% on reducing balance
Motor vehicles- 25% on reducing balance

The assets' residual values and useful lives are reviewed, and adjusted, if appropriate, at the end of each reporting period. The effect of any changes is accounted for prospectively.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation expense for the period comprises current and deferred tax recognised in the reporting period. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case tax is also recognised in other comprehensive income or directly in equity respectively.

Current or deferred taxation assets and liabilities are not discounted.

Current tax

Current tax is the amount of income tax payable in respect of the taxable profit for the year or prior years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the period end.

Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amount expected to be paid to the tax authorities.


Woods Business Services Limited (Registered number: 06383054)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax arises from timing differences that are differences between taxable profit and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessment in periods different from those in which are recognised in financial statements.

Deferred tax is recognised on all timing differences at the reporting date except for certain exceptions. Unrelieved tax losses and other deferred tax assets are only recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

The company provides a range of benefits to employees, including paid holiday arrangements and defined benefit and defined contribution pension plans.

Defined contribution pension plans

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The obligations are recognised as an expense when they are due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 132,827
AMORTISATION
At 1 January 2023
and 31 December 2023 132,827
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

Woods Business Services Limited (Registered number: 06383054)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 January 2023 18,907 20,831 31,664 71,402
Disposals - - (8,695 ) (8,695 )
At 31 December 2023 18,907 20,831 22,969 62,707
DEPRECIATION
At 1 January 2023 18,907 15,990 24,804 59,701
Charge for year - 1,210 1,473 2,683
Eliminated on disposal - - (7,728 ) (7,728 )
At 31 December 2023 18,907 17,200 18,549 54,656
NET BOOK VALUE
At 31 December 2023 - 3,631 4,420 8,051
At 31 December 2022 - 4,841 6,860 11,701

6. STOCKS
2023 2022
£    £   
Stocks 22,914 26,378

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 138,660 145,359
Other debtors 17,265 18,070
155,925 163,429

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 58,728 86,870
Social security and other taxes 5,591 7,034
Other creditors 13,564 15,810
Accrued expenses 82,901 5,235
160,784 114,949

9. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 16,440 22,090
Between one and five years 6,600 23,040
23,040 45,130

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax - 2,223

Woods Business Services Limited (Registered number: 06383054)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

10. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2023 2,223
Movement during year (2,223 )
Balance at 31 December 2023 -

11. ULTIMATE CONTROLLING PARTY

The company is jointly controlled by Ms R Shutter, company secretary and Mr J Sieberhagen, director by virtue of their shareholdings.