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REGISTERED NUMBER: 02735239 (England and Wales)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

J.W. WOOD LIMITED

J.W. WOOD LIMITED (REGISTERED NUMBER: 02735239)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


J.W. WOOD LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: RS Johnson
RS Powell
J Powell





SECRETARY: Ribchesters Group Limited





REGISTERED OFFICE: 7 Old Elvet
Durham
Co. Durham
DH1 3HL





REGISTERED NUMBER: 02735239 (England and Wales)





ACCOUNTANTS: RMT Ribchesters
Accountants and Business Advisors
Finchale House
Belmont Business Park
Durham
DH1 1TW

J.W. WOOD LIMITED (REGISTERED NUMBER: 02735239)

BALANCE SHEET
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 13,304 13,500
Tangible assets 5 919,007 931,457
Investments 6 765,643 765,643
1,697,954 1,710,600

CURRENT ASSETS
Debtors 7 734,982 484,236
Investments 8 - 7,691
Cash at bank and in hand 40,812 82,677
775,794 574,604
CREDITORS
Amounts falling due within one year 9 417,514 411,266
NET CURRENT ASSETS 358,280 163,338
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,056,234

1,873,938

CREDITORS
Amounts falling due after more than one
year

10

(446,199

)

(507,057

)

PROVISIONS FOR LIABILITIES (1,542 ) (1,038 )
NET ASSETS 1,608,493 1,365,843

CAPITAL AND RESERVES
Called up share capital 13 70 70
Capital redemption reserve 30 30
Retained earnings 1,608,393 1,365,743
SHAREHOLDERS' FUNDS 1,608,493 1,365,843

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

J.W. WOOD LIMITED (REGISTERED NUMBER: 02735239)

BALANCE SHEET - continued
30 APRIL 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 14 October 2024 and were signed on its behalf by:





RS Johnson - Director


J.W. WOOD LIMITED (REGISTERED NUMBER: 02735239)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

J.W. Wood 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents management charges and franchise fees to companies operating under the J.W. Wood franchised name, which is recognised on an earned basis.

Intangible fixed assets
Amortisation is provided on a straight line basis over 92 years in order to write down the asset over its term of ownership.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - straight line over 50 years
Fixtures and fittings - 15% on reducing balance
Computer equipment - 25% on reducing balance

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit and loss account in the period in which they are paid.

J.W. WOOD LIMITED (REGISTERED NUMBER: 02735239)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued

Fixed asset investments
Fixed asset investments in subsidiary companies are recognised at cost less impairment. Other fixed asset investments are measured at their current valuation.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 7 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1 May 2023
and 30 April 2024 18,000
AMORTISATION
At 1 May 2023 4,500
Charge for year 196
At 30 April 2024 4,696
NET BOOK VALUE
At 30 April 2024 13,304
At 30 April 2023 13,500

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 May 2023 1,111,905 69,518 1,181,423
Additions - 5,823 5,823
Disposals - (51,424 ) (51,424 )
At 30 April 2024 1,111,905 23,917 1,135,822
DEPRECIATION
At 1 May 2023 185,730 64,236 249,966
Charge for year 14,286 3,568 17,854
Eliminated on disposal - (51,005 ) (51,005 )
At 30 April 2024 200,016 16,799 216,815
NET BOOK VALUE
At 30 April 2024 911,889 7,118 919,007
At 30 April 2023 926,175 5,282 931,457

J.W. WOOD LIMITED (REGISTERED NUMBER: 02735239)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

6. FIXED ASSET INVESTMENTS
Unlisted
investments
£   
COST OR VALUATION
At 1 May 2023
and 30 April 2024 765,643
NET BOOK VALUE
At 30 April 2024 765,643
At 30 April 2023 765,643

Cost or valuation at 30 April 2024 is represented by:

Unlisted
investments
£   
Valuation in 2024 765,643

The company's investments at the Balance Sheet date in the share capital of companies include the following:


JW Wood (Darlington) Limited
Registered office: 7 Old Elvet, Durham, Co Durham, DH1 3HL
Nature of business: Estate Agency
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves (449,957 ) (405,423 )
Loss for the year (44,534 ) (71,042 )

J.W.Wood Commercial Limited
Registered office: 7 Old Elvet, Durham, Co Durham, DH1 3HL
Nature of business: Estate Agency
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves (44,694 ) (43,925 )
Loss for the year (769 ) (1,267 )

J.W. WOOD LIMITED (REGISTERED NUMBER: 02735239)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

6. FIXED ASSET INVESTMENTS - continued

Homemove (Durham) Limited
Registered office: 7 Old Elvet, Durham, Co Durham, DH1 3HL
Nature of business: Estate Agency
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves 230,493 256,523
Loss for the year (26,030 ) (33,717 )

Homemove (Professional) Limited
Registered office: 7 Old Elvet, Durham, Co Durham, DH1 3HL
Nature of business: Estate Agency
%
Class of shares: holding
Ordinary 55.00
2024 2023
£    £   
Aggregate capital and reserves (36,830 ) (22,365 )
Loss for the year (14,465 ) (17,564 )

Homemove (Chester-le-Street) Limited
Registered office: 7 Old Elvet, Durham, Co Durham, DH1 3HL
Nature of business: Estate Agency
%
Class of shares: holding
Ordinary 76.00
2024 2023
£    £   
Aggregate capital and reserves (174,368 ) 600
Loss for the year (174,968 ) (88,871 )

Homemove Direct Limited
Registered office: 7 Old Elvet, Durham, Co Durham, DH1 3HL
Nature of business: Dormant Company
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves (93,421 ) (93,421 )
Profit for the year - 357

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 550,352 346,789
Other debtors 184,630 137,447
734,982 484,236

J.W. WOOD LIMITED (REGISTERED NUMBER: 02735239)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

8. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Listed investments - 7,691

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 79,616 78,795
Trade creditors 72,362 45,223
Amounts owed to group undertakings 113,301 120,222
Taxation and social security 3,342 5,131
Other creditors 148,893 161,895
417,514 411,266

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 446,199 507,057

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 180,830 182,508

11. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year - 4,869

12. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 525,815 585,852

Bank loans are secured by way of a fixed charge over the company's freehold property.

13. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
700 Ordinary £0.10 70 70

J.W. WOOD LIMITED (REGISTERED NUMBER: 02735239)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024

14. CONTINGENT LIABILITIES

The company has contingent liabilities in respect of a cross-guarantee with the bank borrowings of the following companies:
J.W. Wood (Darlington) Limited
J.W. Wood Commercial Limited
Homemove (Durham) Limited
Homemove (Chester-le-Street) Limited
Homemove (Professional) Limited
Homemove Direct Limited
Homemove Services North East Limited

The company operates group registrations for VAT, and therefore should any of the companies within the group default on their individual liabilities, the liability would then transfer to J. W. Wood Limited. Listed below are the companies included in the group registration.

J. W. Wood (Darlington) Limited
J. W Wood Commercial Limited
Homemove (Durham) Limited
Homemove (Chester-le-Street) Limited
Homemove (Professional) Limited
Homemove (Property Management) Limited
Homemove Direct Limited
Homemove Services North East Limited

The company acts as guarantor for J W Wood (Darlington) Limited in respect of its lease commitment for business premises.

15. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose all related party transactions with wholly owned subsidiaries within the group.

The company has transactions with other companies where one or more directors are directors and/or shareholders in those companies. The total balances due from these other companies at the balance sheet date was £28,328 (2023: £13,369) due to these other companies). No interest is due on these balances.