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REGISTERED NUMBER: 03191380 (England and Wales)










Unaudited Financial Statements for the Year Ended 31 March 2024

for

Woodland Oil Limited

Woodland Oil Limited (Registered number: 03191380)






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


Woodland Oil Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mrs J Mills
G Mills





REGISTERED OFFICE: The New Depot Naylor Street
Parkgate
Rotherham
South Yorkshire
S62 6BP





REGISTERED NUMBER: 03191380 (England and Wales)

Woodland Oil Limited (Registered number: 03191380)

Balance Sheet
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 625 700
Tangible assets 5 845,388 715,046
846,013 715,746

CURRENT ASSETS
Stocks 10,000 8,500
Debtors 6 1,091,592 817,460
Cash at bank and in hand 298,569 198,613
1,400,161 1,024,573
CREDITORS
Amounts falling due within one year 7 1,013,719 625,425
NET CURRENT ASSETS 386,442 399,148
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,232,455

1,114,894

CREDITORS
Amounts falling due after more than one
year

8

(107,858

)

(114,105

)

PROVISIONS FOR LIABILITIES (152,806 ) (119,135 )
NET ASSETS 971,791 881,654

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 971,789 881,652
SHAREHOLDERS' FUNDS 971,791 881,654

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.

Woodland Oil Limited (Registered number: 03191380)

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 14 January 2025 and were signed on its behalf by:





G Mills - Director


Woodland Oil Limited (Registered number: 03191380)

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

1. STATUTORY INFORMATION

Woodland Oil 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of ten 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.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 2% on cost
Plant and machinery etc - 33% on cost, 25% on cost, 25% on reducing balance and 10% 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.

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.

Woodland Oil Limited (Registered number: 03191380)

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

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 makes employer pension contributions in accordance with auto enrolment legislation.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2023 - 17 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 10,000 750 10,750
AMORTISATION
At 1 April 2023 10,000 50 10,050
Charge for year - 75 75
At 31 March 2024 10,000 125 10,125
NET BOOK VALUE
At 31 March 2024 - 625 625
At 31 March 2023 - 700 700

Woodland Oil Limited (Registered number: 03191380)

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

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 304,671 1,090,789 1,395,460
Additions - 349,227 349,227
Disposals - (63,551 ) (63,551 )
At 31 March 2024 304,671 1,376,465 1,681,136
DEPRECIATION
At 1 April 2023 73,684 606,730 680,414
Charge for year 3,893 193,873 197,766
Eliminated on disposal - (42,432 ) (42,432 )
At 31 March 2024 77,577 758,171 835,748
NET BOOK VALUE
At 31 March 2024 227,094 618,294 845,388
At 31 March 2023 230,987 484,059 715,046

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2023 452,589
Additions 78,450
Transfer to ownership (161,630 )
At 31 March 2024 369,409
DEPRECIATION
At 1 April 2023 203,268
Charge for year 81,943
Transfer to ownership (126,471 )
At 31 March 2024 158,740
NET BOOK VALUE
At 31 March 2024 210,669
At 31 March 2023 249,321

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,047,258 797,209
Other debtors 44,334 20,251
1,091,592 817,460

Woodland Oil Limited (Registered number: 03191380)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 44,792 49,157
Trade creditors 378,837 201,072
Amounts owed to group undertakings 420,340 285,436
Taxation and social security 131,072 50,976
Other creditors 28,678 28,784
1,013,719 625,425

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 20,833 30,000
Hire purchase contracts 87,025 84,105
107,858 114,105

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 131,817 133,262

10. ULTIMATE CONTROLLING PARTY

The controlling party is NGJ Ltd.

Parent company

The company loaned monies from NGJ Ltd on an interest free unsecured basis. The balance owing at 31st March 2024: £420,340, (2023: £285,436).