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REGISTERED NUMBER: 02780388 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

S.R. Wood & Son Limited

S.R. Wood & Son Limited (Registered number: 02780388)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


S.R. Wood & Son Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: S J Wood
S R Wood





SECRETARY: Mrs L M Wood





REGISTERED OFFICE: Unit 4, Oxen Road Industrial Estate
Oxen Road
Luton
Bedfordshire
LU2 0DZ





REGISTERED NUMBER: 02780388 (England and Wales)





ACCOUNTANTS: Godfrey Laws & Co Limited
65 Knowl Piece
Wilbury Way
Hitchin
Hertfordshire
SG4 0TY

S.R. Wood & Son Limited (Registered number: 02780388)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 12,417 15,731

CURRENT ASSETS
Stocks 750 750
Debtors 5 153,458 107,748
Cash at bank and in hand 105,575 75,616
259,783 184,114
CREDITORS
Amounts falling due within one year 6 184,035 146,463
NET CURRENT ASSETS 75,748 37,651
TOTAL ASSETS LESS CURRENT
LIABILITIES

88,165

53,382

CREDITORS
Amounts falling due after more than one
year

7

(11,751

)

(21,206

)

PROVISIONS FOR LIABILITIES (3,104 ) (3,933 )
NET ASSETS 73,310 28,243

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 73,210 28,143
SHAREHOLDERS' FUNDS 73,310 28,243

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

S.R. Wood & Son Limited (Registered number: 02780388)

Balance Sheet - continued
29 February 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 November 2024 and were signed on its behalf by:





S J Wood - Director


S.R. Wood & Son Limited (Registered number: 02780388)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

S.R. Wood & Son Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 7 ) .

S.R. Wood & Son Limited (Registered number: 02780388)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023 124,887
Additions 391
At 29 February 2024 125,278
DEPRECIATION
At 1 March 2023 109,156
Charge for year 3,705
At 29 February 2024 112,861
NET BOOK VALUE
At 29 February 2024 12,417
At 28 February 2023 15,731

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 149,125 101,763
Amounts owed by participating interests 415 5,009
Other debtors 3,918 976
153,458 107,748

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 9,063 73,620
Hire purchase contracts (see note 8) - 2,237
Trade creditors 10,992 11,565
Taxation and social security 75,975 30,648
Other creditors 88,005 28,393
184,035 146,463

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans 11,751 21,206

S.R. Wood & Son Limited (Registered number: 02780388)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
29.2.24 28.2.23
£    £   
Net obligations repayable:
Within one year - 2,237

Non-cancellable operating leases
29.2.24 28.2.23
£    £   
Within one year 8,350 8,349
Between one and five years 21,571 29,916
29,921 38,265

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
50 Ordinary A £1 50 50
50 Ordinary B £1 50 50
100 100

10. RELATED PARTY DISCLOSURES

As at the year end date £415 (2023: £5,009) is due from Luton Property Ltd, a company under common control.