REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 March 2024 |
for |
Herbert Woods Enterprises |
Limited |
REGISTERED NUMBER: |
Financial Statements |
for the Year Ended 31 March 2024 |
for |
Herbert Woods Enterprises |
Limited |
Herbert Woods Enterprises |
Limited (Registered number: 07145284) |
Contents of the Financial Statements |
for the Year Ended 31 March 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
Herbert Woods Enterprises |
Limited |
Company Information |
for the Year Ended 31 March 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
AUDITORS: |
Statutory Auditors |
Bankside 300 |
Peachman Way |
Broadland Business Park |
Norwich |
Norfolk |
NR7 0LB |
Herbert Woods Enterprises |
Limited (Registered number: 07145284) |
Balance Sheet |
31 March 2024 |
2024 | 2023 |
as restated |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Herbert Woods Enterprises |
Limited (Registered number: 07145284) |
Notes to the Financial Statements |
for the Year Ended 31 March 2024 |
1. | STATUTORY INFORMATION |
Herbert Woods Enterprises Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
The functional and presentational currency of the company is pounds sterling. Monetary amounts in these financial statements are rounded to the nearest £1, except where otherwise indicated. |
Going concern |
The directors have prepared the accounts using the going concern basis. |
Significant judgements and estimates |
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Tangible fixed assets |
Plant and machinery etc | - |
Investments |
Investments are shown at fair value or where fair value cannot be readily ascertained at cost less impairment. Any aggregate or surplus arising from changes in fair value is recognised through profit and loss. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Herbert Woods Enterprises |
Limited (Registered number: 07145284) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
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. |
Investments |
Investments are initially measured at cost, and subsequently measured at cost less any accumulated impairment losses. |
Provision for liabilities |
Provisions are recognised when the group has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. |
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation. |
Other operating income |
Other operating income represents the profit shares receivable from LLPs based on the company’s entitlement to them from LLPs of which the company is a member. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
Herbert Woods Enterprises |
Limited (Registered number: 07145284) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 April 2023 |
and 31 March 2024 |
DEPRECIATION |
At 1 April 2023 |
Charge for year |
At 31 March 2024 |
NET BOOK VALUE |
At 31 March 2024 |
At 31 March 2023 |
5. | FIXED ASSET INVESTMENTS |
Investments (neither listed nor unlisted) were as follows: |
2024 | 2023 |
as restated |
£ | £ |
Balance b/fwd | 4,589,331 | 3,837,370 |
Capital introduced | 336,450 | 751,961 |
4,925,781 | 4,589,331 |
Fixed Asset Investments represents the company's capital account balances in Herbert Woods LLP of £4,598,137 (2023: £4,284,455), Waterside Estate Agency LLP of £280,214 (2023: £267,463) and Waterside Holiday Direct LLP of £47,430 (2023: £37,413) respectively. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
as restated |
£ | £ |
Amounts recoverable on contract |
Other debtors |
Herbert Woods Enterprises |
Limited (Registered number: 07145284) |
Notes to the Financial Statements - continued |
for the Year Ended 31 March 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
as restated |
£ | £ |
Trade creditors |
Tax |
Social security and other taxes |
Pension Fund | 4,144 | 4,468 |
Accruals and deferred income |
8. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
The auditors report for the year ended 31 March 2024 was unqualified with no emphasis of matter. |
The senior statutory auditor was Steven Scarlett FCA, for and on behalf of Lovewell Blake LLP. |
9. | CONTINGENT LIABILITIES |
There is a cross guarantee in place with Herbert Woods LLP, whose bank loan balances totals £5,435,279 (2023: £6,006,810). |