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REGISTERED NUMBER: SC471484 (Scotland)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

WOODRIGG ESTATES LTD

WOODRIGG ESTATES LTD (REGISTERED NUMBER: SC471484)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WOODRIGG ESTATES LTD

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTORS: T J Gibson
J L Gibson





REGISTERED OFFICE: 1 The Glen
Devonside
Tillicoultry
Clackmannanshire
FK13 6JF





REGISTERED NUMBER: SC471484 (Scotland)





ACCOUNTANTS: Haines Watts
Business Advisors and Accountants
Wallace House
Maxwell Place
Stirling
FK8 1JU

WOODRIGG ESTATES LTD (REGISTERED NUMBER: SC471484)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 280,000 280,000

CURRENT ASSETS
Cash at bank 3,342 1,770

CREDITORS
Amounts falling due within one year 5 268,925 272,433
NET CURRENT LIABILITIES (265,583 ) (270,663 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

14,417

9,337

CAPITAL AND RESERVES
Called up share capital 2 2
Fair value reserve 33,872 33,872
Retained earnings (19,457 ) (24,537 )
14,417 9,337

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

WOODRIGG ESTATES LTD (REGISTERED NUMBER: SC471484)

BALANCE SHEET - continued
31 March 2024



The financial statements were approved by the Board of Directors and authorised for issue on 24 October 2024 and were signed on its behalf by:





T J Gibson - Director


WOODRIGG ESTATES LTD (REGISTERED NUMBER: SC471484)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Woodrigg Estates Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

At 31 March 2024, the company's net current liabilities were £265,583 (2023 - £270,663). The company is dependent upon the continuing financial support of the directors. The directors have confirmed that they will continue to give financial support to the company until such time as its position improves. The directors therefore consider it to be appropriate to prepare the accounts on a going concern basis.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable in relation to property income, excluding discounts, rebates, value added tax and other sales taxes.

INVESTMENT PROPERTY
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

FINANCIAL INSTRUMENTS
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

Short-term debt instruments, including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are 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 amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a 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.


WOODRIGG ESTATES LTD (REGISTERED NUMBER: SC471484)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
COST OR VALUATION
At 1 April 2023
and 31 March 2024 280,000
NET BOOK VALUE
At 31 March 2024 280,000
At 31 March 2023 280,000

Cost or valuation at 31 March 2024 is represented by:
£   
Valuation in 2019 (20,000 )
Valuation in 2021 (1,000 )
Valuation in 2022 8,872
Cost 292,128
280,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 292,128 292,128

Investment property was valued on an open market basis on 31 March 2024 by the directors .

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 1,191 891
Other creditors 267,734 271,542
268,925 272,433

WOODRIGG ESTATES LTD (REGISTERED NUMBER: SC471484)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024

6. RELATED PARTY DISCLOSURES

Included within "Other creditors" are amounts totalling £266,125 (2023 - £269,450) due to the directors. The loans are interest free and no terms of repayment have been agreed.