Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31true2023-04-01falseNo description of principal activity11falseThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10664297 2023-04-01 2024-03-31 10664297 2022-04-01 2023-03-31 10664297 2024-03-31 10664297 2023-03-31 10664297 2022-04-01 10664297 c:Director1 2023-04-01 2024-03-31 10664297 c:RegisteredOffice 2023-04-01 2024-03-31 10664297 d:FurnitureFittings 2023-04-01 2024-03-31 10664297 d:FurnitureFittings 2024-03-31 10664297 d:FurnitureFittings 2023-03-31 10664297 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 10664297 d:LeaseholdInvestmentProperty 2023-04-01 2024-03-31 10664297 d:LeaseholdInvestmentProperty 2024-03-31 10664297 d:LeaseholdInvestmentProperty 2023-03-31 10664297 d:LeaseholdInvestmentProperty 2 2023-04-01 2024-03-31 10664297 d:CurrentFinancialInstruments 2024-03-31 10664297 d:CurrentFinancialInstruments 2023-03-31 10664297 d:Non-currentFinancialInstruments 2024-03-31 10664297 d:Non-currentFinancialInstruments 2023-03-31 10664297 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 10664297 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 10664297 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 10664297 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 10664297 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 10664297 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 10664297 d:ShareCapital 2024-03-31 10664297 d:ShareCapital 2023-03-31 10664297 d:ShareCapital 2022-04-01 10664297 d:OtherMiscellaneousReserve 2023-04-01 2024-03-31 10664297 d:OtherMiscellaneousReserve 2024-03-31 10664297 d:OtherMiscellaneousReserve 2023-03-31 10664297 d:OtherMiscellaneousReserve 2022-04-01 10664297 d:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 10664297 d:RetainedEarningsAccumulatedLosses 2024-03-31 10664297 d:RetainedEarningsAccumulatedLosses 2022-04-01 2023-03-31 10664297 d:RetainedEarningsAccumulatedLosses 2023-03-31 10664297 d:RetainedEarningsAccumulatedLosses 2022-04-01 10664297 d:OtherDeferredTax 2024-03-31 10664297 d:OtherDeferredTax 2023-03-31 10664297 c:OrdinaryShareClass1 2023-04-01 2024-03-31 10664297 c:OrdinaryShareClass1 2024-03-31 10664297 c:OrdinaryShareClass1 2023-03-31 10664297 c:FRS102 2023-04-01 2024-03-31 10664297 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 10664297 c:FullAccounts 2023-04-01 2024-03-31 10664297 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 10664297 f:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:shares xbrli:pure


Registered number: 10664297












WOOD PROPERTY INVESTMENTS LTD
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

 

WOOD PROPERTY INVESTMENTS LTD

CONTENTS



Page
Company information
 
1
Balance sheet
 
2 - 3
Statement of changes in equity
 
4
Notes to the financial statements
 
5 - 12


 

WOOD PROPERTY INVESTMENTS LTD
 
COMPANY INFORMATION


Director
 C G Wood 




Registered number
10664297



Registered office
16 Great Queen Street
Covent Garden

London

WC2B 5AH




Accountants
Blick Rothenberg Limited
Chartered Accountants

16 Great Queen Street

Covent Garden

London

WC2B 5AH




Page 1


 
REGISTERED NUMBER:10664297
WOOD PROPERTY INVESTMENTS LTD

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible Fixed Assets
 4 
-
2,976

Investment Property
 5 
1,174,797
1,030,292

  
1,174,797
1,033,268

Current assets
  

Debtors: amounts falling due within one year
 6 
1,264
173

Cash at bank and in hand
  
49,182
100,408

  
50,446
100,581

Creditors: amounts falling due within one year
 7 
(1,140,764)
(1,036,524)

Net current liabilities
  
 
 
(1,090,318)
 
 
(935,943)

Total assets less current liabilities
  
84,479
97,325

Creditors: amounts falling due after more than one year
 8 
(53,838)
(92,914)

Provisions for liabilities
  

Deferred tax
  
(2,419)
-

Net assets
  
28,222
4,411


Capital and reserves
  

Called up share capital 
 11 
100
100

Other reserves
  
7,258
-

Profit and loss account
  
20,864
4,311

  
28,222
4,411


Page 2


 
REGISTERED NUMBER:10664297
WOOD PROPERTY INVESTMENTS LTD
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




C G Wood
Director

Date: 14 October 2024

The notes on pages 5 to 12 form part of these financial statements.

Page 3

WOOD PROPERTY INVESTMENTS LTD


 
  
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2024



Called up share capital
Other reserves
Profit and loss account
Total equity


£
£
£
£



At 1 April 2022
100
-
(12,787)
(12,687)



Comprehensive income for the year


Profit for the year
-
-
17,098
17,098





At 1 April 2023
100
-
4,311
4,411



Comprehensive income for the year


Profit for the year
-
-
23,811
23,811


Revaluation of investment property
-
7,258
(7,258)
-



At 31 March 2024
100
7,258
20,864
28,222



The notes on pages 5 to 12 form part of these financial statements.

Page 4
 

WOOD PROPERTY INVESTMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Wood Property Investments Limited is a private company limited by shares incorporated in England and Wales. The address of its registered office is 16 Great Queen Street, Covent Garden, London, WC2B 5AH.
The financial statements are presented in Sterling (£), which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements have been prepared on a going concern basis notwithstanding the fact that the company have net current liabilities at the year end. The director consider this basis to be appropriate as the company continues to recieve financial support.

  
2.3

Revenue

Revenue represents rental income.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings
-
3 years straight line basis

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

Page 5

 

WOOD PROPERTY INVESTMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)


2.6

Financial instruments

The Company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets and financial liabilities are recognised when the Company becomes party to the contractual provisions of the instrument. 

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. 
 
The Company’s policies for its major classes of financial assets and financial liabilities are set out below. 

Financial assets
Basic financial assets, including trade and other debtors, cash and bank balances, intercompany working capital balances, and intercompany financing are initially recognised at transaction price, 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Financial liabilities

Basic financial liabilities, including trade and other 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Page 6

 

WOOD PROPERTY INVESTMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)




Financial instruments (continued)

Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. 

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the Company would receive for the asset if it were to be sold at the reporting date. 

For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. 
 
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an 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.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

  
2.8

Share capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

Page 7

 

WOOD PROPERTY INVESTMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.9

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.10

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.11

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
 
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.12

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 8

 

WOOD PROPERTY INVESTMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2023 - 1).


4.


Tangible fixed assets





Fixtures and fittings

£



Cost or valuation


At 1 April 2023
8,928



At 31 March 2024

8,928



Depreciation


At 1 April 2023
5,952


Charge for the year on owned assets
2,976



At 31 March 2024

8,928



Net book value



At 31 March 2024
-



At 31 March 2023
2,976

Page 9

 

WOOD PROPERTY INVESTMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Investment property


Long term leasehold investment property

£



Valuation


At 1 April 2023
1,030,292


Additions at cost
134,827


Revaluation
9,678



At 31 March 2024
1,174,797

The 2024 valuations were made by the director, on an open market value for existing use basis.





If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
1,167,040
1,032,213


6.


Debtors

2024
2023
£
£


Prepayments and accrued income
1,264
173



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loan
39,083
38,007

Corporation tax
4,581
1,592

Other creditors
1,090,400
990,600

Accruals and deferred income
6,700
6,325

1,140,764
1,036,524


Page 10

 

WOOD PROPERTY INVESTMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loan
53,838
92,914



9.


Loan


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loan
39,083
38,007


Amounts falling due 2-5 years

Bank loan
53,838
92,914


92,921
130,921


The bank loan bears interest at a rate of 2.84% per annum. The loan is repayable in monthly instalments and is secured by a fixed and floating charge over the investment properties and all of the company's assets.


10.


Deferred taxation




2024


£






Charged to profit or loss
(2,419)



At end of year
(2,419)

The deferred taxation balance is made up as follows:

2024
2023
£
£


Revaluation of investment property
(2,419)
-

Page 11

 

WOOD PROPERTY INVESTMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



12.


Related party transactions

Included in other creditors is an amount of £1,090,400 (2023: £990,600), due by the company to the director. The loan provided is interest free and is unscured. There are no formal terms and conditions regarding the repayment of the loan.

 
Page 12