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Company Registration No. 11214755 (England and Wales)
Woods Developments Ltd Unaudited Financial Accounts for the year ended 29 February 2024
Woods Developments Ltd Unaudited Financial Accounts Contents
Page
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Woods Developments Ltd Company Information for the year ended 29 February 2024
Directors
Daniel John Woods Michael James Woods
Company Number
11214755 (England and Wales)
Registered Office
The Moores, Church End Frampton Boston Lincolnshire PE20 1AD
Accountants
CDM Accountants Limited 28 Tytton Lane East Wyberton Boston Lincolnshire PE21 7HW
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Woods Developments Ltd Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
87,700 
75,127 
Current assets
Debtors
166 
219 
Cash at bank and in hand
13,132 
8,886 
13,298 
9,105 
Creditors: amounts falling due within one year
(62,346)
(59,189)
Net current liabilities
(49,048)
(50,084)
Total assets less current liabilities
38,652 
25,043 
Provisions for liabilities
Deferred tax
(3,073)
- 
Net assets
35,579 
25,043 
Capital and reserves
Called up share capital
100 
100 
Fair value reserve
10,913 
- 
Profit and loss account
24,566 
24,943 
Shareholders' funds
35,579 
25,043 
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2024 and were signed on its behalf by
Daniel John Woods Director Company Registration No. 11214755
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Woods Developments Ltd Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
Woods Developments Ltd is a private company, limited by shares, registered in England and Wales, registration number 11214755. The registered office is The Moores, Church End, Frampton, Boston, Lincolnshire, PE20 1AD.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% reducing balance
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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Woods Developments Ltd Notes to the Accounts for the year ended 29 February 2024
4
Tangible fixed assets
Land & buildings 
Plant & machinery 
Total 
£ 
£ 
£ 
Cost or valuation
At valuation 
At cost 
At 1 March 2023
71,527 
9,795 
81,322 
Revaluations
13,473 
- 
13,473 
At 29 February 2024
85,000 
9,795 
94,795 
Depreciation
At 1 March 2023
- 
6,195 
6,195 
Charge for the year
- 
900 
900 
At 29 February 2024
- 
7,095 
7,095 
Net book value
At 29 February 2024
85,000 
2,700 
87,700 
At 28 February 2023
71,527 
3,600 
75,127 
As at the 29 February 2024, the property was revalued at the current market value by an independent estate agents, Belvoir.
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
166 
219 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Taxes and social security
668 
(12)
Loans from directors
61,005 
58,533 
Accruals
673 
668 
62,346 
59,189 
7
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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