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REGISTERED NUMBER: 01988349 (England and Wales)


















Alan Wood Partnership Limited

Strategic Report, Report of the Directors and

Financial Statements for the Year Ended 31st August 2024






Alan Wood Partnership Limited (Registered number: 01988349)






Contents of the Financial Statements
for the year ended 31st August 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 6

Statement of Comprehensive Income 10

Balance Sheet 11

Statement of Changes in Equity 12

Notes to the Financial Statements 13


Alan Wood Partnership Limited

Company Information
for the year ended 31st August 2024







DIRECTORS: J M Saunders
M A Barwood
J A Gibson
M G Coates
J J Shores
C M Hudson
Y K Han


REGISTERED OFFICE: 341 Beverley Road
Hull
East Yorkshire
HU5 1LD


REGISTERED NUMBER: 01988349 (England and Wales)


AUDITORS: Smailes Goldie
Chartered Accountants
Statutory Auditor
Regent's Court
Princess Street
Hull
East Yorkshire HU2 8BA


SOLICITORS: Gosschalks
Queens Gardens
Hull
HU1 3DZ

Alan Wood Partnership Limited (Registered number: 01988349)

Strategic Report
for the year ended 31st August 2024

The directors present their strategic report for the year ended 31st August 2024.

REVIEW OF BUSINESS
The Company has traded well over the last 12 months and 2023/24 has been a successful year. Despite a challenging economic environment, we have continued to invest in our people, technology and offices maintaining good levels of pre-tax profits enabling us to continue in delivering our strategic goals and committing to significant business improvements.

Financial Performance

The Company reported an increase in turnover for the year of 7% from the previous year and exceeded the previous years target of £11.5m.

Culture

We continued to build on our longstanding culture to create an environment for our people to develop personally.

Our commitment to training and general support of our people has led to investment in our benefit platform. As an SME we are proud to offer a personal touch and position ourselves with benefits equivalent to large corporates.

This process strengthens our commitment to the future and succession of the business for the long term.

Our current staffing levels are 112 against 109 last year (excluding contract staff and sub-consultants).

Strategic Focus

The Board of Directors are committed to the delivery of the company's business goals and have committed to key appointments and property to assist in this. This work has allowed clear focus on sectors, geography, disciplines and people.

Alan Wood Partnership Limited (Registered number: 01988349)

Strategic Report
for the year ended 31st August 2024


Investment in Standards

As part of our commitment to standards we have continued to build on our ISO 14001 and ISO 9001 registrations. We have attained Level 2 BIM accreditation in accordance with ISO 19650. A significant investment in time, development of our processes and people. Along with other accreditations and commitments to other charters etc. it demonstrates our the levels of service now provided.

Looking Ahead

We continue to improve and adapt to the market place. Changing political environments and uncertainty we hope to improve going forward. We have been successful in two significant framework bids and look to strengthen our foothold in that arena.

Cash flow and debt management are proactively managed which is always a focus of the business and we continue to take swift action to protect the business from these pressures.

Our growth targets continue to develop at sustainable levels. We estimate our turnover to be over £12m although the timeline to this will be balanced by strategic opportunities and committed improvements to business processes.

BY ORDER OF THE BOARD:




M G Coates - Director


23rd December 2024

Alan Wood Partnership Limited (Registered number: 01988349)

Report of the Directors
for the year ended 31st August 2024

The directors present their report with the financial statements of the company for the year ended 31st August 2024.

DIVIDENDS
During the year the total distribution of dividends was £1,450,646 (2023 £2,402,641). The directors recommend that no further final dividend be paid.

DIRECTORS
The directors shown below have held office during the whole of the period from 1st September 2023 to the date of this report.

J M Saunders
M A Barwood
J A Gibson
M G Coates
J J Shores
C M Hudson
Y K Han

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Alan Wood Partnership Limited (Registered number: 01988349)

Report of the Directors
for the year ended 31st August 2024


AUDITORS
The auditors, Smailes Goldie, will be proposed for re-appointment at the forthcoming Annual General Meeting.

BY ORDER OF THE BOARD:





M G Coates - Director


23rd December 2024

Report of the Independent Auditors to the Members of
Alan Wood Partnership Limited

Opinion
We have audited the financial statements of Alan Wood Partnership Limited (the 'company') for the year ended 31st August 2024 which comprise the Statement of Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31st August 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Alan Wood Partnership Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Alan Wood Partnership Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation, data protection, anti-bribery, employment, environmental and health and safety legislation. An understanding of these laws and regulations and the extent of compliance was obtained through discussion with management and inspecting legal and regulatory correspondence.

We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by making enquiries of management and considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions;
- assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
- investigated the rationale behind significant or unusual transactions.

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;
- enquiring of management as to actual and potential litigation and claims; and
- reviewing correspondence with HMRC, relevant regulators and the company's legal advisors.

Due to the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.


Report of the Independent Auditors to the Members of
Alan Wood Partnership Limited

The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission, or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Michael Stocks ACA (Senior Statutory Auditor)
for and on behalf of Smailes Goldie
Chartered Accountants
Statutory Auditor
Regent's Court
Princess Street
Hull
East Yorkshire HU2 8BA

23rd December 2024

Alan Wood Partnership Limited (Registered number: 01988349)

Statement of Comprehensive Income
for the year ended 31st August 2024

2024 2023
Notes £    £   

TURNOVER 3 11,721,832 11,103,674

Cost of sales 6,212,761 5,690,731
GROSS PROFIT 5,509,071 5,412,943

Administrative expenses 3,578,351 3,574,066
1,930,720 1,838,877

Other operating income 5,400 155,556
OPERATING PROFIT 5 1,936,120 1,994,433


Interest payable and similar expenses 6 20,106 26,527
PROFIT BEFORE TAXATION 1,916,014 1,967,906

Tax on profit 7 459,701 383,760
PROFIT FOR THE FINANCIAL YEAR 1,456,313 1,584,146

OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

1,456,313

1,584,146

Alan Wood Partnership Limited (Registered number: 01988349)

Balance Sheet
31st August 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 9 1,645,902 1,591,323
Investments 10 100 100
1,646,002 1,591,423

CURRENT ASSETS
Debtors 11 3,232,678 3,572,207
Cash at bank and in hand 1,943,504 1,564,286
5,176,182 5,136,493
CREDITORS
Amounts falling due within one year 12 3,066,416 3,085,194
NET CURRENT ASSETS 2,109,766 2,051,299
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,755,768

3,642,722

CREDITORS
Amounts falling due after more than one
year

13

(570,755

)

(479,728

)

PROVISIONS FOR LIABILITIES 17 (44,596 ) (28,244 )
NET ASSETS 3,140,417 3,134,750

CAPITAL AND RESERVES
Called up share capital 18 31,875 31,875
Share premium 19 8,750 8,750
Revaluation reserve 19 321,632 321,632
Capital redemption reserve 19 23,125 23,125
Retained earnings 19 2,755,035 2,749,368
SHAREHOLDERS' FUNDS 3,140,417 3,134,750

The financial statements were approved by the Board of Directors and authorised for issue on 23rd December 2024 and were signed on its behalf by:





M G Coates - Director


Alan Wood Partnership Limited (Registered number: 01988349)

Statement of Changes in Equity
for the year ended 31st August 2024

Called up
share Retained Share
capital earnings premium
£    £    £   
Balance at 1st September 2022 31,875 3,567,863 8,750

Changes in equity
Dividends - (2,402,641 ) -
Total comprehensive income - 1,584,146 -
Balance at 31st August 2023 31,875 2,749,368 8,750

Changes in equity
Dividends - (1,450,646 ) -
Total comprehensive income - 1,456,313 -
Balance at 31st August 2024 31,875 2,755,035 8,750
Capital
Revaluation redemption Total
reserve reserve equity
£    £    £   
Balance at 1st September 2022 321,632 23,125 3,953,245

Changes in equity
Dividends - - (2,402,641 )
Total comprehensive income - - 1,584,146
Balance at 31st August 2023 321,632 23,125 3,134,750

Changes in equity
Dividends - - (1,450,646 )
Total comprehensive income - - 1,456,313
Balance at 31st August 2024 321,632 23,125 3,140,417

Alan Wood Partnership Limited (Registered number: 01988349)

Notes to the Financial Statements
for the year ended 31st August 2024

1. STATUTORY INFORMATION

Alan Wood Partnership 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
The financial statements have been prepared in accordance with the Financial Reporting Standard 102 "The Financial Reporting Standard Applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows;
the requirement of paragraph 3.17(d);
the requirement of paragraph 33.7.

Turnover
Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. The policies adopted for the recognition of turnover are as follows:

When the outcome of a transaction can be estimated reliably, turnover from the provision of engineering consultancy services is recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to the time cost and expenses incurred on a contract. Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable.

Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Freehold property- 2% on cost
Long leasehold property- 2% on cost
Fixtures and fittings- 33% on cost, 25% on cost and 10% on cost
Motor vehicles- 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.


Alan Wood Partnership Limited (Registered number: 01988349)

Notes to the Financial Statements - continued
for the year ended 31st August 2024

2. ACCOUNTING POLICIES - continued
Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

Hire purchase and leasing commitments
Assets obtained under finance leases are treated as fixed assets. The amount capitalised is the present value of the minimum lease payments payable during the lease term. Depreciation is charged to the profit and loss account in accordance with the normal depreciation policy over the shorter of the lease term and useful life of the assets.

The corresponding lease commitments are shown as liabilities. The interest element of rental obligation is charged to the profit and loss account over the period of the lease on a straight line basis.

Rentals payable under operating leases are charged to the profit and loss account over the period of the lease on a straight line basis.


Employee benefits
When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

Debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. TURNOVER

The turnover and profit on ordinary activities before taxation is wholly attributable to the company's principal activity of consulting engineering in the United Kingdom.


Alan Wood Partnership Limited (Registered number: 01988349)

Notes to the Financial Statements - continued
for the year ended 31st August 2024

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 5,301,160 4,916,526
Other pension costs 331,554 329,815
5,632,714 5,246,341

The average number of employees during the year was as follows:
2024 2023

Office staff 107 104

2024 2023
£    £   
Directors' remuneration - -

5. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Hire of plant and machinery 24,157 26,751
Depreciation - owned assets 86,430 113,201
Depreciation - assets on hire purchase contracts 6,420 6,420
Auditors' remuneration 5,000 5,000

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank interest - 18,886
Other interest 20,106 7,560
Directors loan interest - 81
20,106 26,527

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 473,308 443,558
Group relief (29,959 ) (52,643 )
Total current tax 443,349 390,915

Deferred tax 16,352 (7,155 )
Tax on profit 459,701 383,760

Alan Wood Partnership Limited (Registered number: 01988349)

Notes to the Financial Statements - continued
for the year ended 31st August 2024

7. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 1,916,014 1,967,906
Profit multiplied by the standard rate of corporation tax in the UK of
25% (2023 - 25%)

479,004

491,977

Effects of:
Expenses not deductible for tax purposes 10,656 17,245
Super deduction claimed - (972 )
Change in tax rates - (71,847 )
Overprovision of tax charge in previous period (29,959 ) (52,643 )
Total tax charge 459,701 383,760

8. DIVIDENDS
2024 2023
£    £   
Ordinary shares of £1 each
Interim - paid 1,450,646 2,402,641

9. TANGIBLE FIXED ASSETS
Long Fixtures
Freehold leasehold and
property property fittings Totals
£    £    £    £   
COST
At 1st September 2023 943,858 588,911 1,047,770 2,580,539
Additions 18,730 - 128,699 147,429
At 31st August 2024 962,588 588,911 1,176,469 2,727,968
DEPRECIATION
At 1st September 2023 79,859 62,764 846,593 989,216
Charge for year 14,655 11,681 66,514 92,850
At 31st August 2024 94,514 74,445 913,107 1,082,066
NET BOOK VALUE
At 31st August 2024 868,074 514,466 263,362 1,645,902
At 31st August 2023 863,999 526,147 201,177 1,591,323

Included in cost or valuation of freehold property is freehold land of £230,000 (2023 £230,000) which is not depreciated.

The cost of assets held under finance leases are £7,495 (2023 £25,680) and the accumulated depreciation is £6,402 (2023 £14,422).

Alan Wood Partnership Limited (Registered number: 01988349)

Notes to the Financial Statements - continued
for the year ended 31st August 2024

10. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1st September 2023
and 31st August 2024 100
NET BOOK VALUE
At 31st August 2024 100
At 31st August 2023 100

Alan Wood Partnership Limited owns the entire ordinary share capital, being 100 Ordinary shares of £1 each, of Alan Wood and Partners Limited. The company has not traded since incorporation.

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,973,297 2,036,591
Amounts recoverable on contracts 815,359 924,424
Other debtors 40,099 209,957
Prepayments 403,923 401,235
3,232,678 3,572,207

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans (see note 14) 59,734 49,253
Hire purchase contracts (see note 15) 270 5,360
Trade creditors 698,641 850,571
Amounts owed to group undertakings 1,436,612 1,281,806
Corporation tax 193,349 217,237
Social security and other taxes 561,329 566,438
Accrued expenses 116,481 114,529
3,066,416 3,085,194

13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 14) 570,755 479,458
Hire purchase contracts (see note 15) - 270
570,755 479,728

Alan Wood Partnership Limited (Registered number: 01988349)

Notes to the Financial Statements - continued
for the year ended 31st August 2024

14. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 59,734 49,253

Amounts falling due between one and two years:
Bank loans - 1-2 years 59,734 51,844

Amounts falling due between two and five years:
Bank loans - 2-5 years 137,129 119,389

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 373,892 308,225

15. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 270 5,360
Between one and five years - 270
270 5,630

Non-cancellable operating leases
2024 2023
£    £   
Within one year 358,029 249,608
Between one and five years 465,180 223,785
In more than five years 144,000 -
967,209 473,393

Alan Wood Partnership Limited (Registered number: 01988349)

Notes to the Financial Statements - continued
for the year ended 31st August 2024

16. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 630,489 528,711
Hire purchase contracts 270 5,630
630,759 534,341

The bank overdrafts, bank loans and hire purchase contracts are secured by fixed and floating charges over certain assets of the company.

17. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 44,596 28,244

Deferred
tax
£   
Balance at 1st September 2023 28,244
Charge to Statement of Comprehensive Income during year 16,352
Balance at 31st August 2024 44,596

The expected net reversal of deferred tax assets and liabilities in the next year is £22,381. This is due to the reversal of accelerated capital allowances.

18. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
31,875 Ordinary £1 31,875 31,875
NIL - -
(2023 - 37,500 )
31,875 31,875

Alan Wood Partnership Limited (Registered number: 01988349)

Notes to the Financial Statements - continued
for the year ended 31st August 2024

19. RESERVES
Capital
Retained Share Revaluation redemption
earnings premium reserve reserve Totals
£    £    £    £    £   

At 1st September 2023 2,749,368 8,750 321,632 23,125 3,102,875
Profit for the year 1,456,313 - - - 1,456,313
Dividends (1,450,646 ) - - - (1,450,646 )
At 31st August 2024 2,755,035 8,750 321,632 23,125 3,108,542

Retained earnings represents cumulative profits and losses net of dividends and other adjustments.

Share premium represents the premium arising on the issue of shares net of issue costs.

Revaluation reserve represents the cumulative effect of revaluations of fixed assets.

Capital redemption reserve records the nominal value of shares purchased by the company.

20. PENSION COMMITMENTS

The company operates a group personal pension scheme for the benefit of individual directors and employees.

The pension charge for the year was £331,554 (2023 £329,815). Outstanding employer contributions of £52,565 were accrued at 31st August 2024 (2023 £48,617).

21. ULTIMATE PARENT COMPANY

Alan Wood Holdings Limited is regarded by the directors as being the company's ultimate parent company.

22. CAPITAL COMMITMENTS
2024 2023
£    £   
Contracted but not provided for in the
financial statements 100,532 -

23. 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 related party transactions with wholly owned subsidiaries within the group.

24. ULTIMATE CONTROLLING PARTY

The company is not controlled by any one party.