2 false false false false false false false false false false true false false false false false false No description of principal activity 2024-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 2 2 2 xbrli:pure xbrli:shares iso4217:GBP 00593022 2024-01-01 2024-08-31 00593022 2024-08-31 00593022 2023-12-31 00593022 2023-01-01 2023-12-31 00593022 2023-12-31 00593022 2022-12-31 00593022 core:LandBuildings core:OwnedOrFreeholdAssets 2024-01-01 2024-08-31 00593022 core:PlantMachinery 2024-01-01 2024-08-31 00593022 bus:Director2 2024-01-01 2024-08-31 00593022 bus:Director3 2024-01-01 2024-08-31 00593022 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-31 00593022 core:PlantMachinery 2023-12-31 00593022 core:LandBuildings core:OwnedOrFreeholdAssets 2024-08-31 00593022 core:PlantMachinery 2024-08-31 00593022 core:WithinOneYear 2024-08-31 00593022 core:WithinOneYear 2023-12-31 00593022 core:ShareCapital 2024-08-31 00593022 core:ShareCapital 2023-12-31 00593022 core:RevaluationReserve 2024-08-31 00593022 core:RetainedEarningsAccumulatedLosses 2024-08-31 00593022 core:RetainedEarningsAccumulatedLosses 2023-12-31 00593022 core:CostValuation core:Non-currentFinancialInstruments 2024-08-31 00593022 core:Non-currentFinancialInstruments 2024-08-31 00593022 core:Non-currentFinancialInstruments 2023-12-31 00593022 core:LandBuildings core:OwnedOrFreeholdAssets 2023-12-31 00593022 core:PlantMachinery 2023-12-31 00593022 bus:SmallEntities 2024-01-01 2024-08-31 00593022 bus:AuditExemptWithAccountantsReport 2024-01-01 2024-08-31 00593022 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-08-31 00593022 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-08-31 00593022 bus:FullAccounts 2024-01-01 2024-08-31
COMPANY REGISTRATION NUMBER: 00593022
Woodlands (Norfolk) Limited
Unaudited financial statements
31 August 2024
Woodlands (Norfolk) Limited
Statement of financial position
31 August 2024
31 Aug 24
31 Dec 23
Note
£
£
£
£
Fixed assets
Tangible assets
5
1,185,370
519,743
Investments
6
2
2
-----------
---------
1,185,372
519,745
Current assets
Stocks
31,993
35,834
Debtors
7
35,294
19,631
Cash at bank and in hand
1,089,591
137,251
-----------
---------
1,156,878
192,716
Creditors: Amounts falling due within one year
8
( 160,064)
( 8,968)
-----------
---------
Net current assets
996,814
183,748
-----------
---------
Total assets less current liabilities
2,182,186
703,493
Provisions
Taxation including deferred tax
( 185,443)
5,155
-----------
---------
Net assets
1,996,743
708,648
-----------
---------
Capital and reserves
Called up share capital
100
100
Revaluation reserve
717,040
Profit and loss account
1,279,603
708,548
-----------
---------
Shareholders funds
1,996,743
708,648
-----------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the period ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Woodlands (Norfolk) Limited
Statement of financial position (continued)
31 August 2024
These financial statements were approved by the board of directors and authorised for issue on 18 October 2024 , and are signed on behalf of the board by:
T M Baron
E Butler
Director
Secretary
Company registration number: 00593022
Woodlands (Norfolk) Limited
Notes to the financial statements
Period from 1 January 2024 to 31 August 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Old Field Barn, Abbey Road, Old Buckenham, Norwich, Norfolk, NR17 1QA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property improvements
-
10% reducing balance
Plant and machinery
-
25% reducing balance
Included within freehold property improvements is an amount of £1,193,545 (2023: £516,490) relating to land which is not depreciated.
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Valuation
Commodity stocks and cultivations are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. The valuation of crops in store and cultivations includes an element of deprectiation.
4. Employee numbers
The average number of employees during the period was 2 (2023: 2 ).
5. Tangible assets
Freehold property and improve- ments
Plant and machinery
Total
£
£
£
Cost or valuation
At 1 January 2024
519,818
11,605
531,423
Disposals
( 236,050)
( 6,130)
( 242,180)
Revaluations
902,113
902,113
-----------
-------
-----------
At 31 August 2024
1,185,881
5,475
1,191,356
-----------
-------
-----------
Depreciation
At 1 January 2024
1,896
9,784
11,680
Charge for the period
95
296
391
Disposals
( 6,085)
( 6,085)
-----------
-------
-----------
At 31 August 2024
1,991
3,995
5,986
-----------
-------
-----------
Carrying amount
At 31 August 2024
1,183,890
1,480
1,185,370
-----------
-------
-----------
At 31 December 2023
517,922
1,821
519,743
-----------
-------
-----------
6. Investments
Other investments other than loans
£
Cost
At 1 January 2024 and 31 August 2024
2
----
Impairment
At 1 January 2024 and 31 August 2024
----
Carrying amount
At 31 August 2024
2
----
At 31 December 2023
2
----
7. Debtors
31 Aug 24
31 Dec 23
£
£
Trade debtors
31,317
9,438
Other debtors
3,977
10,193
-------
-------
35,294
19,631
-------
-------
8. Creditors: Amounts falling due within one year
31 Aug 24
31 Dec 23
£
£
Trade creditors
907
3,584
Social security and other taxes
138,350
Other creditors
20,807
5,384
---------
------
160,064
8,968
---------
------