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REGISTERED NUMBER: 07062626 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

WOODIES AND DESIGNLAB LIMITED

WOODIES AND DESIGNLAB LIMITED (Registered number: 07062626)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WOODIES AND DESIGNLAB LIMITED

Company Information
for the Year Ended 31 March 2024







DIRECTORS: D Abayahoudaiyan
G Abayahoudayan





SECRETARY:





REGISTERED OFFICE: 4 Quex road
London
NW6 4PJ





REGISTERED NUMBER: 07062626 (England and Wales)





ACCOUNTANTS: Purcells, Chartered Accountants
4 Quex Road
London
NW6 4PJ

WOODIES AND DESIGNLAB LIMITED (Registered number: 07062626)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 93,244 186,624
Tangible assets 5 4,230 6,438
97,474 193,062

CURRENT ASSETS
Stocks 6 76,300 150,000
Debtors 7 106,886 84,203
Cash at bank 529,223 400,073
712,409 634,276
CREDITORS
Amounts falling due within one year 8 554,909 406,313
NET CURRENT ASSETS 157,500 227,963
TOTAL ASSETS LESS CURRENT
LIABILITIES

254,974

421,025

CAPITAL AND RESERVES
Called up share capital 200,001 200,001
Retained earnings 54,973 221,024
SHAREHOLDERS' FUNDS 254,974 421,025

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

WOODIES AND DESIGNLAB LIMITED (Registered number: 07062626)

Balance Sheet - continued
31 March 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 4 December 2024 and were signed on its behalf by:





D Abayahoudaiyan - Director


WOODIES AND DESIGNLAB LIMITED (Registered number: 07062626)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

WOODIES AND DESIGNLAB 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 represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are physically delivered to the customer.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2010, is being amortised
evenly over its estimated useful life of fourteen years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful
life.

Improvements to property- 10% on cost
Plant and machinery-18% on cost
Fixtures and fittings- 25% on cost
Computer equipment- 33% on cost

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.


WOODIES AND DESIGNLAB LIMITED (Registered number: 07062626)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. 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.

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 profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 17 ).

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 1,400,000
AMORTISATION
At 1 April 2023 1,213,376
Amortisation for year 93,380
At 31 March 2024 1,306,756
NET BOOK VALUE
At 31 March 2024 93,244
At 31 March 2023 186,624

WOODIES AND DESIGNLAB LIMITED (Registered number: 07062626)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 2,310 133 6,831 7,047 16,321
Additions - - - 833 833
At 31 March 2024 2,310 133 6,831 7,880 17,154
DEPRECIATION
At 1 April 2023 906 120 4,519 4,338 9,883
Charge for year 368 13 435 2,225 3,041
At 31 March 2024 1,274 133 4,954 6,563 12,924
NET BOOK VALUE
At 31 March 2024 1,036 - 1,877 1,317 4,230
At 31 March 2023 1,404 13 2,312 2,709 6,438

6. STOCKS
31.3.24 31.3.23
£    £   
Stocks 76,300 150,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 39,603 2,186
Other debtors 3,329 57,922
Accruals 11,026 11,026
Prepayments 52,928 13,069
106,886 84,203

WOODIES AND DESIGNLAB LIMITED (Registered number: 07062626)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 63,481 84,117
Amounts owed to group
undertakings 360,259 222,360
Tax 62,629 48,227
Social security & other taxes 6,244 1,113
VAT 31,211 37,154
Other creditors 28,619 10,839
Directors' loan accounts 49 86
Accrued expenses 2,417 2,417
554,909 406,313

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is D Abayahoudayan & G Abayahoudayan.

This was by virtue of their over 50% holding of the issued share capital.