Woodlands Retreats Limited 06291524 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is Holiday Accommodation and Facilities Digita Accounts Production Advanced 6.30.9574.0 true true 06291524 2023-04-01 2024-03-31 06291524 2024-03-31 06291524 2 2024-03-31 06291524 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-03-31 06291524 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-03-31 06291524 core:CurrentFinancialInstruments 2024-03-31 06291524 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 06291524 core:Non-currentFinancialInstruments 2024-03-31 06291524 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 06291524 core:BetweenTwoFiveYears 2024-03-31 06291524 core:WithinOneYear 2024-03-31 06291524 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 06291524 core:LandBuildings core:ShortLeaseholdAssets 2024-03-31 06291524 core:MotorVehicles 2024-03-31 06291524 core:PlantMachinery 2024-03-31 06291524 bus:SmallEntities 2023-04-01 2024-03-31 06291524 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 06291524 bus:FilletedAccounts 2023-04-01 2024-03-31 06291524 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 06291524 bus:RegisteredOffice 2023-04-01 2024-03-31 06291524 bus:Director1 2023-04-01 2024-03-31 06291524 bus:Director2 2023-04-01 2024-03-31 06291524 bus:Director3 2023-04-01 2024-03-31 06291524 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 06291524 core:LandBuildings core:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 06291524 core:LandBuildings core:ShortLeaseholdAssets 2023-04-01 2024-03-31 06291524 core:MotorVehicles 2023-04-01 2024-03-31 06291524 core:PlantMachinery 2023-04-01 2024-03-31 06291524 core:Vehicles 2023-04-01 2024-03-31 06291524 core:EntitiesWithJointControlOrSignificantInfluenceOverReportingEntity 2023-04-01 2024-03-31 06291524 countries:UnitedKingdom 2023-04-01 2024-03-31 06291524 2023-03-31 06291524 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 06291524 core:LandBuildings core:ShortLeaseholdAssets 2023-03-31 06291524 core:MotorVehicles 2023-03-31 06291524 core:PlantMachinery 2023-03-31 06291524 2022-04-01 2023-03-31 06291524 2023-03-31 06291524 2 2023-03-31 06291524 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-03-31 06291524 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-03-31 06291524 core:CurrentFinancialInstruments 2023-03-31 06291524 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 06291524 core:Non-currentFinancialInstruments 2023-03-31 06291524 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 06291524 core:BetweenTwoFiveYears 2023-03-31 06291524 core:WithinOneYear 2023-03-31 06291524 core:LandBuildings core:OwnedOrFreeholdAssets 2023-03-31 06291524 core:LandBuildings core:ShortLeaseholdAssets 2023-03-31 06291524 core:MotorVehicles 2023-03-31 06291524 core:PlantMachinery 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 06291524

Woodlands Retreats Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Woodlands Retreats Limited

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Woodlands Retreats Limited

(Registration number: 06291524)
Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

2,267,292

1,977,911

Current assets

 

Debtors

5

53,991

19,783

Cash at bank and in hand

 

-

353,004

 

53,991

372,787

Creditors: Amounts falling due within one year

6

(1,604,440)

(1,585,480)

Net current liabilities

 

(1,550,449)

(1,212,693)

Total assets less current liabilities

 

716,843

765,218

Creditors: Amounts falling due after more than one year

6

(328,398)

(393,293)

Provisions for liabilities

(33,836)

(32,880)

Net assets

 

354,609

339,045

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

354,509

338,945

Shareholders' funds

 

354,609

339,045

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the Board on 3 September 2024 and signed on its behalf by:
 

 

Woodlands Retreats Limited

(Registration number: 06291524)
Statement of Financial Position as at 31 March 2024 (continued)


Mr R L Crang
Director


Mrs H R Crang
Director


Mr P Crang
Director

 

Woodlands Retreats Limited

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

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Courtry Farm
Bridgehampton
Yeovil
Somerset
BA22 8HF

Principal activity

The principal activity of the company is Holiday Accommodation and Facilities

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

 

Woodlands Retreats Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are 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 the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% Reducing Balance

 

Woodlands Retreats Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Motor vehicles

25% Reducing Balance (or 4 years straight line where leased)

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the statement of comprehensive income and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

Woodlands Retreats Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 20 (2023 - 23).

4

Tangible assets

Land and buildings
£

Short leasehold land and buildings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

1,785,888

28,566

549,032

56,119

2,419,605

Additions

257,563

1,770

60,480

40,914

360,727

Disposals

-

-

-

(43,935)

(43,935)

At 31 March 2024

2,043,451

30,336

609,512

53,098

2,736,397

Depreciation

At 1 April 2023

-

13,332

405,118

23,244

441,694

Charge for the year

-

3,333

30,649

7,596

41,578

Eliminated on disposal

-

-

-

(14,167)

(14,167)

At 31 March 2024

-

16,665

435,767

16,673

469,105

Carrying amount

At 31 March 2024

2,043,451

13,671

173,745

36,425

2,267,292

At 31 March 2023

1,785,888

15,234

143,914

32,875

1,977,911

Included within the net book value of land and buildings above is £2,043,451 (2023 - £1,785,888) in respect of freehold land and buildings and £13,671 (2023 - £15,234) in respect of short leasehold land and buildings.
 

 

Woodlands Retreats Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

5

Debtors

Note

2024
£

2023
£

Trade debtors

 

43,909

19,413

Prepayments

 

453

370

Income tax asset

9,629

-

 

53,991

19,783

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

108,189

78,000

Trade creditors

 

117,855

133,234

Taxation and social security

 

18,476

28,077

Accruals and deferred income

 

14,643

10,639

Other creditors

 

1,345,277

1,335,530

 

1,604,440

1,585,480

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

328,398

393,293

7

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

 

Woodlands Retreats Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

209,483

281,109

Hire purchase contracts

32,915

26,184

Other borrowings

86,000

86,000

328,398

393,293

Current loans and borrowings

2024
£

2023
£

Bank borrowings

73,717

71,082

Bank overdrafts

5,044

-

Hire purchase contracts

5,678

6,918

Other borrowings

23,750

-

108,189

78,000

9

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2024
£

2023
£

Not later than one year

44,345

44,345

Later than one year and not later than five years

13,213

36,559

57,558

80,904

The amount of non-cancellable operating lease payments recognised as an expense during the year was £44,345 (2023 - £44,282).

10

Related party transactions

Summary of transactions with entities with joint control or significant interest

The E G Turner Will Trust
 Loan to Woodlands Retreats Ltd for the trust of £86,000
 Interest free