Company registration number 07128361 (England and Wales)
WOOD & PILCHER GROUP LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
One Bell Lane
Lewes
East Sussex
BN7 1JU
WOOD & PILCHER GROUP LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 10
WOOD & PILCHER GROUP LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr S Ellis
Mrs J Morris
Company number
07128361
Registered office
23 High Street
Tunbridge Wells
Kent
TN1 1UT
Accountants
TC Group
One Bell Lane
Lewes
East Sussex
BN7 1JU
WOOD & PILCHER GROUP LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
4
242,028
215,811
Investments
5
66,515
186,324
308,543
402,135
Current assets
Debtors
6
137,608
144,489
Cash at bank and in hand
303,712
213,745
441,320
358,234
Creditors: amounts falling due within one year
7
(92,046)
(89,125)
Net current assets
349,274
269,109
Total assets less current liabilities
657,817
671,244
Creditors: amounts falling due after more than one year
8
(78,835)
(83,888)
Provisions for liabilities
(7,188)
(4,415)
Net assets
571,794
582,941
Capital and reserves
Called up share capital
9
2
2
Revaluation reserve
20,043
16,877
Profit and loss reserves
551,749
566,062
Total equity
571,794
582,941
WOOD & PILCHER GROUP LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 3 -
For the financial year ended 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 of its financial statements for the year in question in accordance with section 476.
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.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 16 October 2024 and are signed on its behalf by:
Mr S Ellis
Mrs J Morris
Director
Director
Company registration number 07128361 (England and Wales)
WOOD & PILCHER GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
1
Accounting policies
Company information
Wood & Pilcher Group Limited is a private company limited by shares incorporated in England and Wales. The registered office is 23 High Street, Tunbridge Wells, Kent, TN1 1UT.
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.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
1.2
Turnover
Turnover represents amounts receivable for services net of VAT.
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:
Land and buildings - Freehold
Plant and machinery
25% reducing balance
Fixtures, fittings and equipment
15% reducing balance
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
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
WOOD & PILCHER GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 5 -
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
1.5
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible 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). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
1.6
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7
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.
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.
WOOD & PILCHER GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 6 -
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, 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.
1.8
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.9
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.
1.10
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
1.11
Retirement benefits
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
1.12
Leases
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
WOOD & PILCHER GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
4
4
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
931,016
Amortisation and impairment
At 1 April 2023 and 31 March 2024
931,016
Carrying amount
At 31 March 2024
At 31 March 2023
WOOD & PILCHER GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 8 -
4
Tangible fixed assets
Land and buildings - Freehold
Plant and machinery
Fixtures, fittings and equipment
Total
£
£
£
£
Cost
At 1 April 2023
213,277
34,463
8,569
256,309
Revaluation
26,723
26,723
At 31 March 2024
240,000
34,463
8,569
283,032
Depreciation and impairment
At 1 April 2023
33,206
7,292
40,498
Depreciation charged in the year
314
192
506
At 31 March 2024
33,520
7,484
41,004
Carrying amount
At 31 March 2024
240,000
943
1,085
242,028
At 31 March 2023
213,277
1,257
1,277
215,811
5
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
15
15
Other investments other than loans
66,500
186,309
66,515
186,324
WOOD & PILCHER GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
5
Fixed asset investments
(Continued)
- 9 -
Movements in fixed asset investments
Shares in subsidiaries
Other investments
Total
£
£
£
Cost or valuation
At 1 April 2023
15
186,309
186,324
Gain on sale of shares
-
24,956
24,956
Disposals
-
(144,765)
(144,765)
At 31 March 2024
15
66,500
66,515
Carrying amount
At 31 March 2024
15
66,500
66,515
At 31 March 2023
15
186,309
186,324
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
18,226
35,815
Other debtors
85,003
59,069
103,229
94,884
2024
2023
Amounts falling due after more than one year:
£
£
Amounts owed by group undertakings
34,379
49,605
Total debtors
137,608
144,489
WOOD & PILCHER GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 10 -
7
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
12,429
11,817
Corporation tax
25,189
20,538
Other taxation and social security
2,546
1,500
Other creditors
51,882
55,270
92,046
89,125
The bank loan is secured by fixed charges over the freehold properties.
8
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
78,835
83,888
The bank loan is secured by fixed charges over the freehold properties.
Creditors which fall due after five years are as follows:
2024
2023
£
£
Payable by instalments
29,120
36,621
9
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
2
2
2
2
2024-03-312023-04-01false17 October 2024CCH SoftwareCCH Accounts Production 2024.210No description of principal activityMr S EllisMrs J Morrisfalsefalse071283612023-04-012024-03-3107128361bus:Director12023-04-012024-03-3107128361bus:Director22023-04-012024-03-3107128361bus:RegisteredOffice2023-04-012024-03-31071283612024-03-31071283612023-03-3107128361core:LandBuildingscore:OwnedOrFreeholdAssets2024-03-3107128361core:PlantMachinery2024-03-3107128361core:FurnitureFittings2024-03-3107128361core:LandBuildingscore:OwnedOrFreeholdAssets2023-03-3107128361core:PlantMachinery2023-03-3107128361core:FurnitureFittings2023-03-3107128361core:CurrentFinancialInstrumentscore:WithinOneYear2024-03-3107128361core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3107128361core:Non-currentFinancialInstrumentscore:AfterOneYear2024-03-3107128361core:Non-currentFinancialInstrumentscore:AfterOneYear2023-03-3107128361core:CurrentFinancialInstruments2024-03-3107128361core:CurrentFinancialInstruments2023-03-3107128361core:ShareCapital2024-03-3107128361core:ShareCapital2023-03-3107128361core:RevaluationReserve2024-03-3107128361core:RevaluationReserve2023-03-3107128361core:RetainedEarningsAccumulatedLosses2024-03-3107128361core:RetainedEarningsAccumulatedLosses2023-03-3107128361core:PlantMachinery2023-04-012024-03-3107128361core:FurnitureFittings2023-04-012024-03-31071283612022-04-012023-03-3107128361core:NetGoodwill2023-03-3107128361core:NetGoodwill2024-03-3107128361core:NetGoodwill2023-03-3107128361core:LandBuildingscore:OwnedOrFreeholdAssets2023-03-3107128361core:PlantMachinery2023-03-3107128361core:FurnitureFittings2023-03-31071283612023-03-3107128361core:LandBuildingscore:OwnedOrFreeholdAssets2023-04-012024-03-3107128361core:Non-currentFinancialInstruments2024-03-3107128361core:Non-currentFinancialInstruments2023-03-3107128361core:WithinOneYear2024-03-3107128361core:WithinOneYear2023-03-3107128361bus:PrivateLimitedCompanyLtd2023-04-012024-03-3107128361bus:SmallCompaniesRegimeForAccounts2023-04-012024-03-3107128361bus:FRS1022023-04-012024-03-3107128361bus:AuditExemptWithAccountantsReport2023-04-012024-03-3107128361bus:FullAccounts2023-04-012024-03-31xbrli:purexbrli:sharesiso4217:GBP