2023-03-022024-03-312024-03-31false14700363WOODIAMS 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WOODIAMS LTD

Registered Number
14700363
(England and Wales)

Unaudited Financial Statements for the Period ended
31 March 2024

WOODIAMS LTD
Company Information
for the period from 2 March 2023 to 31 March 2024

Directors

WILLIAMS, Timothy Richard
WOOD, Emily

Registered Address

Trinder House Free Street
Bishops Waltham
Southampton
SO32 1EE

Registered Number

14700363 (England and Wales)
WOODIAMS LTD
Balance Sheet as at
31 March 2024

Notes

2024

£

£

Fixed assets
Tangible assets312,144
12,144
Current assets
Stocks6,661
Debtors4,584
Cash at bank and on hand7,927
19,172
Creditors amounts falling due within one year(48,012)
Net current assets (liabilities)(28,840)
Total assets less current liabilities(16,696)
Accruals and deferred income(2,030)
Net assets(18,726)
Capital and reserves
Called up share capital2
Profit and loss account(18,728)
Shareholders' funds(18,726)
The financial statements were approved and authorised for issue by the Board of Directors on 29 November 2024, and are signed on its behalf by:
WILLIAMS, Timothy Richard
Director
Registered Company No. 14700363
WOODIAMS LTD
Notes to the Financial Statements
for the period ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Going concern
The major part of the company's working capital requirements are provided by the director which is repayable on demand. Director has indicated that he will not demand repayment; however no formal agreement is in place. Support has been provided by a loan from a director who has indicated that this support will continue for the foreseeable future. The director, having considered the above and made due enquiries, continue to adopt the going concern basis in preparing the financial statements which assumes that the company will continue in operation for the foreseeable future. To bolster the working capital reserves the director has secured new overdraft facilities with their bank, this will be provided on a rolling basis and reviewed by the directors and bank every 24 months.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

2024
Average number of employees during the year6
3.Tangible fixed assets

Total

£
Cost or valuation
Additions12,295
At 31 March 2412,295
Depreciation and impairment
Charge for year151
At 31 March 24151
Net book value
At 31 March 2412,144
At 01 March 23-