REGISTERED NUMBER: 15158756 (England and Wales) |
Group Strategic Report, Report of the Directors and |
Audited Consolidated Financial Statements |
for the Period 23 September 2023 to 30 April 2024 |
for |
Woodalls Holdings Limited |
REGISTERED NUMBER: 15158756 (England and Wales) |
Group Strategic Report, Report of the Directors and |
Audited Consolidated Financial Statements |
for the Period 23 September 2023 to 30 April 2024 |
for |
Woodalls Holdings Limited |
Woodalls Holdings Limited (Registered number: 15158756) |
Contents of the Consolidated Financial Statements |
for the Period 23 September 2023 to 30 April 2024 |
Page |
Group Strategic Report | 1 |
Report of the Directors | 2 |
Report of the Independent Auditors | 3 |
Consolidated Statement of Comprehensive Income | 6 |
Consolidated Balance Sheet | 7 |
Company Balance Sheet | 8 |
Consolidated Statement of Changes in Equity | 9 |
Company Statement of Changes in Equity | 10 |
Consolidated Cash Flow Statement | 11 |
Notes to the Consolidated Cash Flow Statement | 12 |
Notes to the Consolidated Financial Statements | 13 |
Woodalls Holdings Limited (Registered number: 15158756) |
Group Strategic Report |
for the Period 23 September 2023 to 30 April 2024 |
The directors present their strategic report of the company and the group for the period 23 September 2023 to 30 April 2024. |
REVIEW OF BUSINESS |
The directors are pleased to report a successful period for the group. The group has generated £13,705,886 of turnover in the period, generating profits before tax of £3,368,820 to give satisfactory results. |
At the period end the group had net assets of £2,697,671 including distributable profits of £2,096,671. The directors therefore believe the group's position to be satisfactory, especially as current assets exceed its current liabilities by £2,672,973. |
The directors believe that there is a strong foundation to build the business further and improve on the current period's results. |
PRINCIPAL RISKS AND UNCERTAINTIES |
The directors have assessed the main risk facing the group as being increased competition from other national and |
international companies. These companies are able to provide similar services to those offered by the group at |
competitive prices, which could lead to decreasing margins. The directors believe that the quality of our products and customer service will help mitigate these risks and hope to see satisfactory trading results in the coming year. |
ON BEHALF OF THE BOARD: |
Woodalls Holdings Limited (Registered number: 15158756) |
Report of the Directors |
for the Period 23 September 2023 to 30 April 2024 |
The directors present their report with the financial statements of the company and the group for the period 23 September 2023 to 30 April 2024. |
INCORPORATION |
The group was incorporated on 23 September 2023 and commenced trading on the same date. |
DIVIDENDS |
The total distribution of dividends for the period ended 30 April 2024 will be £419,419. |
DIRECTORS |
The directors who have held office during the period from 23 September 2023 to the date of this report are as follows: |
STATEMENT OF DIRECTORS' RESPONSIBILITIES |
The directors are responsible for preparing the Group 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 the group and of the profit or loss of the group 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 and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group 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 the group 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 group'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 group's auditors are aware of that information. |
AUDITORS |
Drummond Laurie CA are deemed to be reappointed under section 487(2) of the Companies Act 2006. |
ON BEHALF OF THE BOARD: |
Report of the Independent Auditors to the Members of |
Woodalls Holdings Limited |
Opinion |
We have audited the financial statements of Woodalls Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the period ended 30 April 2024 which comprise the Consolidated Statement of Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, 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 group's and of the parent company affairs as at 30 April 2024 and of the group's profit for the period 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 group 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 group's and the parent 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 Group 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 Group 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 Group 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 |
Woodalls Holdings Limited |
Matters on which we are required to report by exception |
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group 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 by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or |
- | the parent company 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 two, 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 group's and the parent 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 group or the parent company or to cease operations, or have no realistic alternative but to do so. |
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. |
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. |
Based on our understanding of the group, we identified that the principal risks of non-compliance with laws and regulations related to fraudulent manipulation of the financial statements, including the risk of override of controls, to reduce profits and tax liabilities. We determined that the most likely method of manipulation would be the posting of inappropriate journal entries. Audit procedures performed by the audit engagement team consisted of a review of large and unusual journal entries, challenging assumptions and judgements made by management in significant accounting estimates, discussions with management related to known or suspected instances of non-compliance with laws and regulations, review of Board minutes where available, and an evaluation of management controls designed to prevent and detect irregularities. |
There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations or through collusion. |
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. |
Report of the Independent Auditors to the Members of |
Woodalls Holdings Limited |
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. |
for and on behalf of |
Statutory Auditor |
Unit 5 |
Gateway Business Park |
Beancross Road |
Grangemouth |
FK3 8WX |
Woodalls Holdings Limited (Registered number: 15158756) |
Consolidated Statement of Comprehensive Income |
for the Period 23 September 2023 to 30 April 2024 |
Notes | £ |
TURNOVER | 3 | 13,705,886 |
Cost of sales | (7,369,772 | ) |
GROSS PROFIT | 6,336,114 |
Administrative expenses | (3,026,791 | ) |
OPERATING PROFIT | 5 | 3,309,323 |
Interest receivable and similar income | 59,497 |
PROFIT BEFORE TAXATION | 3,368,820 |
Tax on profit | 6 | (852,730 | ) |
PROFIT FOR THE FINANCIAL PERIOD |
OTHER COMPREHENSIVE INCOME | - |
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD |
2,516,090 |
Profit attributable to: |
Owners of the parent | 2,516,090 |
Total comprehensive income attributable to: |
Owners of the parent | 2,516,090 |
Woodalls Holdings Limited (Registered number: 15158756) |
Consolidated Balance Sheet |
30 April 2024 |
Notes | £ |
FIXED ASSETS |
Tangible assets | 9 | 28,084 |
Investments | 10 | - |
28,084 |
CURRENT ASSETS |
Stocks | 11 | 907,179 |
Debtors | 12 | 5,883,976 |
Cash at bank | 3,853,533 |
10,644,688 |
CREDITORS |
Amounts falling due within one year | 13 | (7,971,715 | ) |
NET CURRENT ASSETS | 2,672,973 |
TOTAL ASSETS LESS CURRENT LIABILITIES |
2,701,057 |
PROVISIONS FOR LIABILITIES | 14 | (3,386 | ) |
NET ASSETS | 2,697,671 |
CAPITAL AND RESERVES |
Called up share capital | 15 | 601,000 |
Retained earnings | 16 | 2,096,671 |
SHAREHOLDERS' FUNDS | 2,697,671 |
The financial statements were approved by the Board of Directors and authorised for issue on 15 January 2025 and were signed on its behalf by: |
Mr G Woodcock - Director |
Woodalls Holdings Limited (Registered number: 15158756) |
Company Balance Sheet |
30 April 2024 |
Notes | £ |
FIXED ASSETS |
Tangible assets | 9 |
Investments | 10 |
CURRENT ASSETS |
Debtors | 12 |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 15 |
SHAREHOLDERS' FUNDS |
Company's profit for the financial year | 419,419 |
The financial statements were approved by the Board of Directors and authorised for issue on |
Woodalls Holdings Limited (Registered number: 15158756) |
Consolidated Statement of Changes in Equity |
for the Period 23 September 2023 to 30 April 2024 |
Called up |
share | Retained | Total |
capital | earnings | equity |
£ | £ | £ |
Changes in equity |
Issue of share capital | 601,000 | - | 601,000 |
Dividends | - | (419,419 | ) | (419,419 | ) |
Total comprehensive income | - | 2,516,090 | 2,516,090 |
Balance at 30 April 2024 | 601,000 | 2,096,671 | 2,697,671 |
Woodalls Holdings Limited (Registered number: 15158756) |
Company Statement of Changes in Equity |
for the Period 23 September 2023 to 30 April 2024 |
Called up |
share | Retained | Total |
capital | earnings | equity |
£ | £ | £ |
Changes in equity |
Issue of share capital | - |
Dividends | - | ( |
) | ( |
) |
Total comprehensive income | - |
Balance at 30 April 2024 |
Woodalls Holdings Limited (Registered number: 15158756) |
Consolidated Cash Flow Statement |
for the Period 23 September 2023 to 30 April 2024 |
Notes | £ |
Cash flows from operating activities |
Cash generated from operations | 1 | 514,496 |
Net cash from operating activities | 514,496 |
Cash flows from investing activities |
Purchase of tangible fixed assets | (15,958 | ) |
Interest received | 59,497 |
Net cash from investing activities | 43,539 |
Cash flows from financing activities |
Amount withdrawn by directors | (4,139,505 | ) |
Share issue | 601,000 |
Cash introduced on acquisition | 7,253,422 |
Equity dividends paid | (419,419 | ) |
Net cash from financing activities | 3,295,498 |
Increase in cash and cash equivalents | 3,853,533 |
Cash and cash equivalents at beginning of period |
2 |
- |
Cash and cash equivalents at end of period |
2 |
3,853,533 |
Woodalls Holdings Limited (Registered number: 15158756) |
Notes to the Consolidated Cash Flow Statement |
for the Period 23 September 2023 to 30 April 2024 |
1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS |
£ |
Profit before taxation | 3,368,820 |
Depreciation charges | 4,151 |
Finance income | (59,497 | ) |
3,313,474 |
Increase in stocks | (907,179 | ) |
Increase in trade and other debtors | (2,721,809 | ) |
Increase in trade and other creditors | 830,010 |
Cash generated from operations | 514,496 |
2. | CASH AND CASH EQUIVALENTS |
The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts: |
Period ended 30 April 2024 |
30.4.24 | 23.9.23 |
£ | £ |
Cash and cash equivalents | 3,853,533 | - |
3. | ANALYSIS OF CHANGES IN NET FUNDS |
At 23.9.23 | Cash flow | At 30.4.24 |
£ | £ | £ |
Net cash |
Cash at bank | - | 3,853,533 | 3,853,533 |
- | 3,853,533 | 3,853,533 |
Total | - | 3,853,533 | 3,853,533 |
Woodalls Holdings Limited (Registered number: 15158756) |
Notes to the Consolidated Financial Statements |
for the Period 23 September 2023 to 30 April 2024 |
1. | STATUTORY INFORMATION |
Woodalls Holdings Limited is a private company, limited by shares, domiciled in England, registration number 15158756. The registered office is Victoria House 1-3 College Hill, London, EC4R 2RA. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Basis of consolidation |
The consolidated accounts are prepared in accordance with the group’s accounting principles and include the accounts of the parent company and all subsidiaries. Subsidiaries are consolidated from the date the group exercises control or influence over the company. Divested companies are included in the consolidated accounts until the date the group ceases to control or exercise influence over them. In preparing the consolidated financial statements any intra-group transactions have been eliminated. Foreign subsidiaries are translated using the current rate for the assets and liabilities and the average rate for turnover and expenses. |
Related party exemption |
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. |
Transactions between group entities which have been eliminated on consolidation are not disclosed within the financial statements. |
Turnover |
Turnover represents net invoiced sales of goods and services in respect of supply and fit office interiors, |
excluding value added tax. |
Turnover comprises the fair value of work carried out in the year, based on an internal assessment of work |
carried out. Once the outcome of a contract can be estimated reliably, profit is recognised on a stage of contract completion basis by reference to either costs incurred to date and total forecast costs on the contract as a whole, or certified value. |
Losses expected in bringing a contract to completion are recognised immediately as soon as they are forecast. Where the outcome of variations is uncertain, the company only recognises turnover and associated profit where it is probable that the client will approve the variation. Where the outcome of claims is uncertain, the company only recognises turnover when negotiations have reached an advanced stage such that it is probable that the customer will accept the claim. |
Amounts due from contract customers which are included within debtors, represent turnover less progress |
payments received. Where progress payments exceed turnover and other contract balances, the excess is shown as amounts due to construction contract customers within current liabilities. |
Tangible fixed assets and depreciation |
Fixtures and fittings | - |
Computer equipment | - |
Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition. |
The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value. |
Woodalls Holdings Limited (Registered number: 15158756) |
Notes to the Consolidated Financial Statements - continued |
for the Period 23 September 2023 to 30 April 2024 |
2. | ACCOUNTING POLICIES - continued |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price. |
Work in Progress represents goods or services that are partially completed at the reporting date but not yet ready for sale or delivery. It includes direct costs incurred to date and an allocation of overheads where appropriate. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Consolidated Statement of Comprehensive Income, 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 period 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 group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate. |
Provisions |
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material. |
Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small. |
Cash and cash equivalents |
Cash and cash equivalents include cash at bank and in hand and highly liquid interest-bearing securities with maturities of three months or less. In the cash-flow statement, cash and cash equivalents are shown net of bank overdrafts, which are included as current borrowings in liabilities on the balance sheet. |
Woodalls Holdings Limited (Registered number: 15158756) |
Notes to the Consolidated Financial Statements - continued |
for the Period 23 September 2023 to 30 April 2024 |
2. | ACCOUNTING POLICIES - continued |
Significant estimates and judgements |
The preparation of financial statements required management to make judgements, estimates and assumptions that affect the application of accounting policies and reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. Estimates and assumptions are reviewed on an ongoing basis and revisions to estimates are recognised in the period in which the estimate is revised and in any future periods affected. |
The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying |
amount of assets and liabilities relate to construction contract accounting as the values recognised are based on the proportion of work carried out on a contract by contract basis. |
3. | TURNOVER |
The turnover and profit before taxation are attributable to the one principal activity of the group. |
An analysis of turnover by geographical market is given below: |
£ |
United Kingdom | 8,734,271 |
Europe | 4,971,615 |
13,705,886 |
4. | EMPLOYEES AND DIRECTORS |
£ |
Wages and salaries | 2,537,232 |
Social security costs | 280,369 |
Other pension costs | 22,088 |
2,839,689 |
The average number of employees during the period was as follows: |
Employees |
The average number of employees by undertakings that were proportionately consolidated during the period was 48 . |
£ |
Directors' remuneration | 56,000 |
5. | OPERATING PROFIT |
The operating profit is stated after charging: |
£ |
Hire of plant and machinery | 7,310 |
Other operating leases | 185,310 |
Depreciation - owned assets | 4,151 |
Auditors' remuneration | 20,000 |
Foreign exchange differences | 9,484 |
Woodalls Holdings Limited (Registered number: 15158756) |
Notes to the Consolidated Financial Statements - continued |
for the Period 23 September 2023 to 30 April 2024 |
6. | TAXATION |
Analysis of the tax charge |
The tax charge on the profit for the period was as follows: |
£ |
Current tax: |
UK corporation tax | 849,344 |
Deferred tax | 3,386 |
Tax on profit | 852,730 |
Reconciliation of total tax charge included in profit and loss |
The tax assessed for the period is higher than the standard rate of corporation tax in the UK. The difference is explained below: |
£ |
Profit before tax | 3,368,820 |
Profit multiplied by the standard rate of corporation tax in the UK of 25 % | 842,205 |
Effects of: |
Expenses not deductible for tax purposes | 10,525 |
Capital allowances in excess of depreciation | (3,386 | ) |
Deferred tax movement | 3,386 |
Total tax charge | 852,730 |
7. | INDIVIDUAL STATEMENT OF COMPREHENSIVE INCOME |
As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements. |
8. | DIVIDENDS |
£ |
Ordinary A-F shares of £1 each |
Final | 419,419 |
Woodalls Holdings Limited (Registered number: 15158756) |
Notes to the Consolidated Financial Statements - continued |
for the Period 23 September 2023 to 30 April 2024 |
9. | TANGIBLE FIXED ASSETS |
Group |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
Additions | 3,642 | 28,593 | 32,235 |
At 30 April 2024 | 3,642 | 28,593 | 32,235 |
DEPRECIATION |
Charge for period | 425 | 3,726 | 4,151 |
At 30 April 2024 | 425 | 3,726 | 4,151 |
NET BOOK VALUE |
At 30 April 2024 | 3,217 | 24,867 | 28,084 |
10. | FIXED ASSET INVESTMENTS |
Company |
Shares in |
group |
undertakings |
£ |
COST |
Additions |
At 30 April 2024 |
NET BOOK VALUE |
At 30 April 2024 |
The group or the company's investments at the Balance Sheet date in the share capital of companies include the following: |
Subsidiaries |
Registered office: Victoria House 1-3 College Hill, London, England, EC4R 2RA |
Nature of business: |
% |
Class of shares: | holding |
Registered office: Victoria House 1-3 College Hill, London, England, EC4R 2RA |
Nature of business: |
% |
Class of shares: | holding |
Woodalls Holdings Limited (Registered number: 15158756) |
Notes to the Consolidated Financial Statements - continued |
for the Period 23 September 2023 to 30 April 2024 |
11. | STOCKS |
Group |
£ |
Work-in-progress | 907,179 |
12. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Group | Company |
£ | £ |
Trade debtors | 4,428,030 |
Amounts owed by related parties | 120,385 |
Amounts recoverable on contract | 645,287 |
Other debtors | 246,052 |
Prepayments and accrued income | 444,222 |
5,883,976 |
13. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
Group |
£ |
Trade creditors | 1,149,497 |
Tax | 849,344 |
Social security and other taxes | 208,156 |
VAT | 847,728 |
Directors' current accounts | 1,146,153 |
Accruals and deferred income | 3,770,837 |
7,971,715 |
14. | PROVISIONS FOR LIABILITIES |
Group |
£ |
Deferred tax | 3,386 |
Group |
Deferred |
tax |
£ |
Provided during period | 3,386 |
Balance at 30 April 2024 | 3,386 |
Woodalls Holdings Limited (Registered number: 15158756) |
Notes to the Consolidated Financial Statements - continued |
for the Period 23 September 2023 to 30 April 2024 |
15. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal |
value: | £ |
Ordinary A-F | £1 | 1,000 |
Redeemable | £1 | 600,000 |
601,000 |
16. | RESERVES |
Group |
Retained |
earnings |
£ |
Profit for the period | 2,516,090 |
Dividends | (419,419 | ) |
At 30 April 2024 | 2,096,671 |
Company |
Retained |
earnings |
£ |
Profit for the period |
Dividends | ( |
) |
At 30 April 2024 |
17. | RELATED PARTY DISCLOSURES |
Other related parties |
£ |
Amount due from related party | 120,385 |
18. | ULTIMATE CONTROLLING PARTY |
The company is under the control of the Board of Directors. |