Company registration number 03047387 (England and Wales)
WOODHOUSE & STURNHAM (ST NEOTS) LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
WOODHOUSE & STURNHAM (ST NEOTS) LTD
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
WOODHOUSE & STURNHAM (ST NEOTS) LTD
BALANCE SHEET
AS AT 31 DECEMBER 2023
31 December 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
7,188
9,804
Investments
5
1,300
1,300
8,488
11,104
Current assets
Stocks
556,130
501,692
Debtors
6
712,642
728,295
Cash at bank and in hand
687,350
537,232
1,956,122
1,767,219
Creditors: amounts falling due within one year
7
(587,250)
(543,830)
Net current assets
1,368,872
1,223,389
Total assets less current liabilities
1,377,360
1,234,493
Creditors: amounts falling due after more than one year
8
(14,167)
(24,167)
Provisions for liabilities
(1,458)
(1,549)
Net assets
1,361,735
1,208,777
Capital and reserves
Called up share capital
9
4,000
4,000
Profit and loss reserves
1,357,735
1,204,777
Total equity
1,361,735
1,208,777

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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.

WOODHOUSE & STURNHAM (ST NEOTS) LTD
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023
31 December 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 25 September 2024 and are signed on its behalf by:
M Sturnham
Director
Company registration number 03047387 (England and Wales)
WOODHOUSE & STURNHAM (ST NEOTS) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
- 3 -
1
Accounting policies
Company information

Woodhouse & Sturnham (St Neots) Ltd is a private company limited by shares incorporated in England and Wales. The registered office is 36 Tyndall Court, Commerce Road, Lynch Wood, Peterborough, PE2 6LR.

 

The place of business is 17 Chester Road, Colmworth Business Park, Eaton Socon, St Neots, Cambridgeshire, PE19 8YT.

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

1.2
Turnover

Turnover represents amounts receivable for goods net of VAT.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

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:

Property improvements
20% per annum of cost
Fixtures and fittings
20% per annum of cost
Computer equipment
20% per annum of cost
Motor vehicles
25% per annum of written down value

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Fixed asset investments

Fixed asset investments are stated at cost.

1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

WOODHOUSE & STURNHAM (ST NEOTS) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 4 -
1.6
Stocks

Stocks are stated at the lower of cost and net realisable value.

1.7
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, amounts held with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

1.9
Equity instruments

Equity instruments being the share capital issued by the company are recorded at the proceeds received, net of direct issue costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
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 it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.12
Retirement benefits
The company operates a group personal pension scheme. Contributions are charged to the profit and loss account as they become payable, in accordance with the rules of the scheme.

The company also operates a self administered pension fund for the benefit of certain directors. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
WOODHOUSE & STURNHAM (ST NEOTS) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 5 -
1.13
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

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 (including directors) employed by the company during the year was as follows:

2023
2022
Number
Number
Total
12
13
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 January 2023 and 31 December 2023
850
183,391
184,241
Depreciation and impairment
At 1 January 2023
850
173,587
174,437
Depreciation charged in the year
-
0
2,616
2,616
At 31 December 2023
850
176,203
177,053
Carrying amount
At 31 December 2023
-
0
7,188
7,188
At 31 December 2022
-
0
9,804
9,804
WOODHOUSE & STURNHAM (ST NEOTS) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 6 -
5
Fixed asset investments
2023
2022
£
£
Investments
1,300
1,300

The investments are measured at cost rather than fair value as there is currently no reliable measure of market value.

Movements in fixed asset investments
Investments other than loans
£
Cost or valuation
At 1 January 2023
1,300
At 31 December 2023
1,300
Carrying amount
At 31 December 2023
1,300
At 31 December 2022
1,300
6
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
411,420
438,048
Other debtors
301,222
290,247
712,642
728,295
7
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
10,000
10,000
Trade creditors
251,063
289,499
Corporation tax
51,380
15,603
Other taxation and social security
39,886
39,145
Other creditors
1,380
2,881
Accruals and deferred income
233,541
186,702
587,250
543,830
WOODHOUSE & STURNHAM (ST NEOTS) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
- 7 -
8
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
14,167
24,167
9
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
4,000
4,000
4,000
4,000
10
Financial commitments, guarantees and contingent liabilities

The company has given an unlimited guarantee in respect of the bank overdraft of three related companies, Woodhouse & Sturnham Limited, WSK (Spalding) Limited and Woodhouse & Sturnham (Stamford) Limited.

11
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
186,342
203,533
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