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Company registration number: 12446141
SM WOODHOUSE LTD
UNAUDITED FILLETED FINANCIAL STATEMENTS
29 February 2024
SM WOODHOUSE LTD
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
SM WOODHOUSE LTD
DIRECTORS AND OTHER INFORMATION
Director Mr S M Woodhouse
Company number 12446141
Registered office Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
Business address Pendizzard
Bryn Road
Shrewsbury
SY3 8PQ
Accountants Heywoods
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
SM WOODHOUSE LTD
CHARTERED ACCOUNTANTS REPORT TO THE DIRECTOR ON THE PREPARATION OF THE
UNAUDITED STATUTORY FINANCIAL STATEMENTS OF SM WOODHOUSE LTD
PERIOD ENDED 29TH FEBRUARY 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of SM Woodhouse Ltd for the period ended 29 February 2024 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the director of SM Woodhouse Ltd, as a body, in accordance with the terms of our engagement letter dated 3 November 2021. Our work has been undertaken solely to prepare for your approval the financial statements of SM Woodhouse Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than SM Woodhouse Ltd and its director as a body for our work or for this report.
It is your duty to ensure that SM Woodhouse Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of SM Woodhouse Ltd. You consider that SM Woodhouse Ltd is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the financial statements of SM Woodhouse Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Heywoods
Chartered Accountants
Countrywide House
Knights Way
Shrewsbury
Shropshire
SY1 3AB
13 November 2024
SM WOODHOUSE LTD
STATEMENT OF FINANCIAL POSITION
29TH FEBRUARY 2024
29/02/24 28/02/23
Note £ £ £ £
Fixed assets
Tangible assets 5 71,712 35,033
_______ _______
71,712 35,033
Current assets
Stocks 15,751 1,913
Debtors 6 13,903 7,432
Cash at bank and in hand 2,070 12,176
_______ _______
31,724 21,521
Creditors: amounts falling due
within one year 7 ( 50,226) ( 39,660)
_______ _______
Net current liabilities ( 18,502) ( 18,139)
_______ _______
Total assets less current liabilities 53,210 16,894
Creditors: amounts falling due
after more than one year 8 ( 14,208) -
Provisions for liabilities ( 13,624) ( 6,656)
_______ _______
Net assets 25,378 10,238
_______ _______
Capital and reserves
Called up share capital 1 1
Revaluation reserve 11,060 11,060
Profit and loss account 14,317 ( 823)
_______ _______
Shareholder funds 25,378 10,238
_______ _______
For the period ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Act 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 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 statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 13 November 2024 , and are signed on behalf of the board by:
Mr S M Woodhouse
Director
Company registration number: 12446141
SM WOODHOUSE LTD
STATEMENT OF CHANGES IN EQUITY
PERIOD ENDED 29TH FEBRUARY 2024
Called up share capital Revaluation reserve Profit and loss account Total
£ £ £ £
At 1 March 2022 1 11,060 10,519 21,580
Profit for the period 21,158 21,158
_______ _______ _______ _______
Total comprehensive income for the period - - 21,158 21,158
Dividends paid and payable ( 32,500) ( 32,500)
_______ _______ _______ _______
Total investments by and distributions to owners - - ( 32,500) ( 32,500)
_______ _______ _______ _______
At 28 February 2023 and 1 March 2023 1 11,060 ( 823) 10,238
Profit for the period 36,140 36,140
_______ _______ _______ _______
Total comprehensive income for the period - - 36,140 36,140
Dividends paid and payable ( 21,000) ( 21,000)
_______ _______ _______ _______
Total investments by and distributions to owners - - ( 21,000) ( 21,000)
_______ _______ _______ _______
At 29 February 2024 1 11,060 14,317 25,378
_______ _______ _______ _______
SM WOODHOUSE LTD
NOTES TO THE FINANCIAL STATEMENTS
PERIOD ENDED 29TH FEBRUARY 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 SM Woodhouse Ltd, Countrywide House, Knights Way, Shrewsbury, Shropshire, SY1 3AB.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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 and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the value of the consideration received or receivable for servicess supplied, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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 are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 15 % reducing balance
Motor vehicles - 25 % reducing balance
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 2 (2023: 2 ).
5. Tangible assets
Plant and machinery Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 March 2023 32,059 2,511 7,000 41,570
Additions 43,092 458 - 43,550
_______ _______ _______ _______
At 29 February 2024 75,151 2,969 7,000 85,120
_______ _______ _______ _______
Depreciation
At 1 March 2023 2,852 622 3,063 6,537
Charge for the year 5,598 289 984 6,871
_______ _______ _______ _______
At 29 February 2024 8,450 911 4,047 13,408
_______ _______ _______ _______
Carrying amount
At 29 February 2024 66,701 2,058 2,953 71,712
_______ _______ _______ _______
At 28 February 2023 29,207 1,889 3,937 35,033
_______ _______ _______ _______
6. Debtors
29/02/24 28/02/23
£ £
Trade debtors 2,107 2,162
Other debtors 11,796 5,270
_______ _______
13,903 7,432
_______ _______
7. Creditors: amounts falling due within one year
29/02/24 28/02/23
£ £
Bank loans and overdrafts 8,042 4,785
Trade creditors 18,181 10,309
Corporation tax 1,607 692
Other creditors 22,396 23,874
_______ _______
50,226 39,660
_______ _______
8. Creditors: amounts falling due after more than one year
29/02/24 28/02/23
£ £
Other creditors 14,208 -
_______ _______
9. Directors advances, credits and guarantees
During the period the director entered into the following advances and credits with the company:
Year ended 29/02/24
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Mr S M Woodhouse ( 19,157) ( 26) ( 19,183)
_______ _______ _______
Period ended 28/02/23
Balance brought forward Advances /(credits) to the director Balance o/standing
£ £ £
Mr S M Woodhouse ( 4,741) ( 14,416) ( 19,157)
_______ _______ _______