Company registration number 00279767 (England and Wales)
DURFORD WOOD LANDOWNERS LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
DURFORD WOOD LANDOWNERS LIMITED
COMPANY INFORMATION
Directors
A McMeehan Roberts
P W R Carpenter
G D Cuninghame
A Rendell
C J Napier
(Appointed 29 April 2023)
S D Obertelli
(Appointed 29 April 2023)
Secretary
A Rendell
Company number
00279767
Registered office
24 Park Road South
Havant
Hampshire
England
PO9 1HB
Accountants
Azets
Carnac Place
Cams Hall Estate
Fareham
Hampshire
United Kingdom
PO16 8UY
DURFORD WOOD LANDOWNERS LIMITED
CONTENTS
Page
Directors' report
1
Profit and loss account
2
Balance sheet
3
Notes to the financial statements
4 - 6
DURFORD WOOD LANDOWNERS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
- 1 -

The directors present their annual report and financial statements for the year ended 31 December 2023.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

A McMeehan Roberts
P W R Carpenter
G D Cuninghame
Reverend P W Micklethwaite
(Retired 29 April 2023)
D W Seddon
(Retired 29 April 2023)
A Rendell
C J Napier
(Appointed 29 April 2023)
S D Obertelli
(Appointed 29 April 2023)
Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
P W R Carpenter
Director
20 April 2024
DURFORD WOOD LANDOWNERS LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
- 2 -
2023
2022
£
£
Turnover
32,269
31,150
Administrative expenses
(41,199)
(26,694)
Operating (loss)/profit
(8,930)
4,456
Interest receivable and similar income
470
471
(Loss)/profit before taxation
(8,460)
4,927
Tax on (loss)/profit
(89)
(94)
(Loss)/profit for the financial year
(8,549)
4,833
DURFORD WOOD LANDOWNERS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 3 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
8,314
8,314
Current assets
Debtors
5
691
7,313
Cash at bank and in hand
66,189
67,750
66,880
75,063
Creditors: amounts falling due within one year
6
(6,579)
(6,213)
Net current assets
60,301
68,850
Net assets
68,615
77,164
Capital and reserves
Called up share capital
36
36
Other reserves
52,644
58,196
Profit and loss reserves
15,935
18,932
Total equity
68,615
77,164

For the financial year ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 20 April 2024 and are signed on its behalf by:
A McMeehan Roberts
Director
Company Registration No. 00279767
DURFORD WOOD LANDOWNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 4 -
1
Accounting policies
Company information

Durford Wood Landowners Limited is a private company limited by shares incorporated in England and Wales. The company's registered number and registered office can be found on the Company Information page.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

 

The financial statements contain information about Durford Wood Landowners Limited as an individual company.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Revenue represents the biannual contribution received or receivable, excluding value added tax and is recognised in the period in which it relates to.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold Land 30.85 acres
not provided
Freehold Land 3.40 acres
not provided
Freehold Land 10m strip
not provided

Freehold land is considered to have an infinite life and a value greater than cost. On this basis no depreciation has been provided.

 

The assets' residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate.

1.4
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because the entity is a mutual trading entity and tax is only due on investment income. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

DURFORD WOOD LANDOWNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.5
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

1.6

Reserves policy

Reserve accounts are maintained for road maintenance.

 

The road maintenance reserve is held to fund future costs of road maintenance. Transfers are made to the reserve based upon the expected remaining life of the road, the estimated costs of repair and the amount held in the reserve.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons employed by the company during the year was:

2023
2022
Number
Number
Total
-
0
-
0
DURFORD WOOD LANDOWNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
4
Tangible fixed assets
Freehold Land 30.85 acres
Freehold Land 3.40 acres
Freehold Land 10m strip
Total
£
£
£
£
Cost
At 1 January 2023 and 31 December 2023
962
4,352
3,000
8,314
Depreciation and impairment
At 1 January 2023 and 31 December 2023
-
0
-
0
-
0
-
0
Carrying amount
At 31 December 2023
962
4,352
3,000
8,314
At 31 December 2022
962
4,352
3,000
8,314
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
22
6,780
Other debtors
669
533
691
7,313
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
300
-
0
Taxation and social security
89
89
Other creditors
6,190
6,124
6,579
6,213

Within other creditors are debentures which are secured against the freehold property shown in fixed assets

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