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Registered number: 05467259
Woodlands Manor Limited
Unaudited Financial Statements
For The Year Ended 31 March 2024
Beever & Struthers
One Express
1 George Leigh Street
Manchester
M4 5DL
Contents
Page
Company Information 1
Balance Sheet 2—3
Notes to the Financial Statements 4—7
Page 1
Company Information
Director Mr T Yilmaz
Company Number 05467259
Registered Office The Coach House
21a Chambres Road
Southport
Merseyside
PR8 6JG
Accountants Beever & Struthers
One Express
1 George Leigh Street
Manchester
M4 5DL
Page 1
Page 2
Balance Sheet
Registered number: 05467259
2024 2023
as restated
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 568,234 555,599
568,234 555,599
CURRENT ASSETS
Debtors 6 190,808 342,070
Cash at bank and in hand 9,461 3,989
200,269 346,059
Creditors: Amounts Falling Due Within One Year 7 (283,290 ) (462,296 )
NET CURRENT ASSETS (LIABILITIES) (83,021 ) (116,237 )
TOTAL ASSETS LESS CURRENT LIABILITIES 485,213 439,362
PROVISIONS FOR LIABILITIES
Deferred Taxation 8 (11,226 ) (4,924 )
NET ASSETS 473,987 434,438
CAPITAL AND RESERVES
Called up share capital 9 2 2
Revaluation reserve 10 94,538 96,901
Profit and Loss Account 379,447 337,535
SHAREHOLDERS' FUNDS 473,987 434,438
Page 2
Page 3
For the 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.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
The financial statements were approved by the board of directors and authorised for issue on 3 October 2024 and were signed on its behalf by:
Mr T Yilmaz
Director
3 October 2024
The notes on pages 4 to 7 form part of these financial statements.
Page 3
Page 4
Notes to the Financial Statements
1. General Information
Woodlands Manor Limited is a private company, limited by shares, incorporated in England & Wales, registered number 05467259 . The registered office is The Coach House, 21a Chambres Road, Southport, Merseyside, PR8 6JG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
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, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
2.2. Going Concern Disclosure
At the balance sheet date the company had net current liabilities. The company is dependent on the support of its directors, who have confirmed they will continue to provide such support. Therefore the directors feel it appropriate to prepare the financial statements on the going concern basis.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable for services rendered , net of discounts and value added taxes.
Turnover is recognised from the rendering of services by reference to the completion of obligations under open ended care contracts; the turnover is recognised on a time appotioned basis; it can be measured reliably; it is probable that the assoicated benefit will flow to the entity; and the costs incurred or to be incurred in the respect of the transaction can be measured reliably.
2.4. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 20 years.
2.5. Tangible Fixed Assets and Depreciation
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% Straight line
Plant & Machinery 20% Straight line
The gain or loss on disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charges to profit or loss.
2.6. 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.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
...CONTINUED
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2.6. Financial Instruments - continued
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
2.7. 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 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. 
2.8. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.9. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 28 (2023: 25)
28 25
4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 95,000
As at 31 March 2024 95,000
Amortisation
As at 1 April 2023 95,000
As at 31 March 2024 95,000
...CONTINUED
Page 5
Page 6
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 -
5. Tangible Assets
Land & Property
Freehold Plant & Machinery Total
£ £ £
Cost or Valuation
As at 1 April 2023 650,000 172,726 822,726
Additions - 34,664 34,664
As at 31 March 2024 650,000 207,390 857,390
Depreciation
As at 1 April 2023 117,000 150,127 267,127
Provided during the period 13,000 9,029 22,029
As at 31 March 2024 130,000 159,156 289,156
Net Book Value
As at 31 March 2024 520,000 48,234 568,234
As at 1 April 2023 533,000 22,599 555,599
During the year the directors considered there to be no significant change in the market value of the freehold property.
Land and buildings are carried at valuation. If land and buildings were measured using the cost model, the carrying amounts would have been approximately £477,486 (2023 - £482,918), being cost £589,703 (2023 - £589,703) and depreciation £112,217 (2023 - £106,785).
6. Debtors
2024 2023
as restated
£ £
Due within one year
Trade debtors 40,710 35,548
Other debtors 150,098 306,522
190,808 342,070
7. Creditors: Amounts Falling Due Within One Year
2024 2023
as restated
£ £
Trade creditors 19,777 11,130
Other creditors 206,749 415,757
Taxation and social security 56,764 35,409
283,290 462,296
Page 6
Page 7
8. Deferred Taxation
The provision for deferred tax is made up as follows:
2024 2023
as restated
£ £
Accelerated capital allowances 11,464 4,924
Other timing differences (238) -
11,226 4,924
9. Share Capital
2024 2023
as restated
Allotted, called up and fully paid £ £
2 Ordinary Shares of £ 1 each 2 2
10. Reserves
Revaluation Reserve
£
As at 1 April 2023 96,901
Transfer to profit and loss (2,363 )
As at 31 March 2024 94,538
Page 7