Registered number
09336787
Woodland Ventures Limited
Filleted Accounts
31 May 2024
Woodland Ventures Limited
Registered number: 09336787
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,540,801 1,565,560
Investments 4 730,468 81,598
2,271,269 1,647,158
Current assets
Stocks 15,450 -
Debtors 5 57,794 21,095
Cash at bank and in hand 132,435 112,520
205,679 133,615
Creditors: amounts falling due within one year 6 (102,175) (16,081)
Net current assets 103,504 117,534
Total assets less current liabilities 2,374,773 1,764,692
Creditors: amounts falling due after more than one year 7 (905,038) (454,168)
Provisions for liabilities (62,358) (49,391)
Net assets 1,407,377 1,261,133
Capital and reserves
Called up share capital 100 100
Other reserve 8 172,832 189,541
Profit and loss account 1,234,445 1,071,492
Shareholders' funds 1,407,377 1,261,133
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D Mepham
Director
Approved by the board on 29 September 2024
Woodland Ventures Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Investment property No depreciation
Leasehold land and buildings over the lease term
Motor vehicles 20% reducing balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Motor vehicles Total
£ £ £
Cost
At 1 June 2023 1,477,524 107,096 1,584,620
Additions 44,042 - 44,042
Surplus on revaluation 414 - 414
Disposals - (75,712) (75,712)
At 31 May 2024 1,521,980 31,384 1,553,364
Depreciation
At 1 June 2023 - 19,060 19,060
Charge for the year - 4,705 4,705
On disposals - (11,202) (11,202)
At 31 May 2024 - 12,563 12,563
Net book value
At 31 May 2024 1,521,980 18,821 1,540,801
At 31 May 2023 1,477,524 88,036 1,565,560
Freehold land and buildings: 2024 2023
£ £
Historical cost 1,291,537 1,247,494
Cumulative depreciation based on historical cost - -
1,291,537 1,247,494
4 Investments
Other
investments
£
Cost
At 1 June 2023 81,598
Additions 730,403
Revaluation (3,972)
Disposals (77,561)
At 31 May 2024 730,468
5 Debtors 2024 2023
£ £
Trade debtors 2,438 847
Other debtors 55,356 20,248
57,794 21,095
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 9,000 15,000
Trade creditors 579 -
Amounts owed to group undertakings and undertakings in which the company has a participating interest 90,361 -
Taxation and social security costs 957 -
Other creditors 1,278 1,081
102,175 16,081
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 453,234 454,168
Amounts owed to group undertakings and undertakings in which the company has a participating interest 451,804 -
905,038 454,168
8 Revaluation reserve 2024 2023
£ £
At 1 June 2023 189,541 185,536
Loss on revaluation of land and buildings (3,218) -
Deferred taxation arising on the revaluation of land and buildings (13,491) (939)
Transfers from profit and loss account - 4,944
At 31 May 2024 172,832 189,541
9 Other information
Woodland Ventures Limited is a private company limited by shares and incorporated in England. Its registered office is:
18 Golf Links Road
Ferndown
Dorset
BH22 8BY
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