REGISTERED NUMBER: |
WOODSETT HOMES LIMITED |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 |
REGISTERED NUMBER: |
WOODSETT HOMES LIMITED |
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024 |
WOODSETT HOMES LIMITED (REGISTERED NUMBER: 04149336) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
WOODSETT HOMES LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST MARCH 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
Railway Court |
Off Ten Pound Walk |
Doncaster |
South Yorkshire |
DN4 5FB |
WOODSETT HOMES LIMITED (REGISTERED NUMBER: 04149336) |
BALANCE SHEET |
31ST MARCH 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 5 |
Investments | 6 |
CURRENT ASSETS |
Stocks |
Debtors | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
WOODSETT HOMES LIMITED (REGISTERED NUMBER: 04149336) |
BALANCE SHEET - continued |
31ST MARCH 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
WOODSETT HOMES LIMITED (REGISTERED NUMBER: 04149336) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST MARCH 2024 |
1. | STATUTORY INFORMATION |
Woodsett Homes Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows: |
Sale of goods - Turnover from the sale of goods is recognised at the point of sale. |
Rendering of services - Turnover from the provision of services is recognised on completion of the service and, for engagements spanning the balance sheet date, it is recognised by reference to the stage of completion at the balance sheet date. |
Tangible fixed assets |
Plant and machinery | - |
Computer equipment | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Stocks |
Work in progress is valued at the lower of cost and net realisable value, apart from service contracts spanning the balance sheet date where the valuation takes into account the stage of the work undertaken, and the value of the contract. |
Cost is calculated using the first in, first out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
WOODSETT HOMES LIMITED (REGISTERED NUMBER: 04149336) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
3. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
5. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1st April 2023 |
Additions |
At 31st March 2024 |
DEPRECIATION |
At 1st April 2023 |
Charge for year |
At 31st March 2024 |
NET BOOK VALUE |
At 31st March 2024 |
At 31st March 2023 |
6. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1st April 2023 |
and 31st March 2024 |
NET BOOK VALUE |
At 31st March 2024 |
At 31st March 2023 |
WOODSETT HOMES LIMITED (REGISTERED NUMBER: 04149336) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Amounts recoverable on contract |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
10. | SECURED DEBTS |
The following secured debts are included within creditors: |
2024 | 2023 |
£ | £ |
Bank overdrafts |
Bank loans |
The bank loans and overdraft are secured by means of charges over land and property owned by the company and by a fixed and floating charge over the assets and undertaking of the company. |
11. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 31st March 2024 and 31st March 2023: |
2024 | 2023 |
£ | £ |
Balance outstanding at start of year | ( |
) | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year | ( |
) |
WOODSETT HOMES LIMITED (REGISTERED NUMBER: 04149336) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST MARCH 2024 |
12. | RELATED PARTY DISCLOSURES |
The company has received loans from Global Developments (UK) Limited, a company under the control of Mr. A. Gilbert. As at the balance sheet date the net amount of the loan was £958,259 (2023: £911,134) owing to Global Developments (UK) Limited. This loan is unsecured and interest free.Trading transactions have taken place between Global Developments UK Limited and Woodsett Homes Limited during the year which are regarded as having been transacted under normal commercial terms.£231,000 was owing to Woodsett Homes Limited by Global Developments (UK) Limited at the balance sheet date in connection with these trading transactions.In addition Woodsett Homes Limited were owed £409,500 by Global Developments (UK) LImited at the balance sheet date in connection with a land loan advanced by Woodsett Homes Limited during the year. |
The company has advanced loans to Direct Scaffold Doncaster Limited, a company also under the control of Mr. A. Gilbert. As at the balance sheet date the loan owing by Direct Scaffold Doncaster Limited was £55,774 (2023: £59,362). This loan is unsecured and interest free. |
The company has also received loans from Direct Scaffold Services Limited, a company also under the control of Mr. A. Gilbert. As at the balance sheet date the loan owing to Direct Scaffold Services Limited was £454,551 (2022: £231,792). This loan is unsecured and interest free.In addition trading transactions have taken place between Direct Scaffold Services Limited and Woodsett Homes Limited during the year which are regarded as having been transacted under normal commercial terms, and in connection with which £105,000 was owing by Direct Scaffold Services Limited to Woodsett Homes Limited at the balance sheet date. |
13. | ULTIMATE CONTROLLING PARTY |
Adam Gilbert, who holds 100% of the issued share capital of the company, is the ultimate controlling party. |