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Company No: 05185187 (England and Wales)

WOOD BARTON DEVELOPMENTS LIMITED

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

WOOD BARTON DEVELOPMENTS LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

WOOD BARTON DEVELOPMENTS LIMITED

BALANCE SHEET

As at 30 June 2024
WOOD BARTON DEVELOPMENTS LIMITED

BALANCE SHEET (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 19,172 29,695
Investments 4 1 2
19,173 29,697
Current assets
Stocks 0 146,000
Debtors 5 366,029 391,057
Cash at bank and in hand 119,926 44,648
485,955 581,705
Creditors: amounts falling due within one year 6 ( 9,587) ( 68,256)
Net current assets 476,368 513,449
Total assets less current liabilities 495,541 543,146
Net assets 495,541 543,146
Capital and reserves
Called-up share capital 7 30,000 30,000
Share premium account 735,000 735,000
Profit and loss account ( 269,459 ) ( 221,854 )
Total shareholders' funds 495,541 543,146

For the financial year ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Wood Barton Developments Limited (registered number: 05185187) were approved and authorised for issue by the Board of Directors on 20 January 2025. They were signed on its behalf by:

J D Buckle
Director
WOOD BARTON DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
WOOD BARTON DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Wood Barton Developments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Lower Lixton Barn, Loddiswell, Kingsbridge, TQ7 4EG, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company's activities, and is shown net of value added tax and discounts.
The company recognises revenue when it can be reliably measured and it is probable that future economic benefits will flow to the entity.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 5 years straight line
Vehicles 4 years straight line
Office equipment 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is calculated using the FIFO (first-in, first-out) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Profit and Loss Account. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Plant and machinery Vehicles Office equipment Total
£ £ £ £
Cost
At 01 July 2023 34,345 32,953 1,124 68,422
Additions 4,708 0 0 4,708
At 30 June 2024 39,053 32,953 1,124 73,130
Accumulated depreciation
At 01 July 2023 22,427 15,738 562 38,727
Charge for the financial year 6,711 8,239 281 15,231
At 30 June 2024 29,138 23,977 843 53,958
Net book value
At 30 June 2024 9,915 8,976 281 19,172
At 30 June 2023 11,918 17,215 562 29,695

4. Fixed asset investments

Investments in subsidiaries

2024
£
Cost
At 01 July 2023 2
Disposals ( 1)
At 30 June 2024 1
Carrying value at 30 June 2024 1
Carrying value at 30 June 2023 2

Investments in shares

Name of entity Registered office Principal activity Class of
shares
Ownership
30.06.2024
Ownership
30.06.2023
Wood Barton Properties Limited Lower Lixton Barn, Loddiswell, Kingsbridge, Devon, TQ7 4EG Dissolved Ordinary 0.00% 100.00%
Wood Barton Investments Limited Lower Lixton Barn, Loddiswell, Kingsbridge, Devon, TQ7 4EG Dormant company Ordinary 100.00% 100.00%

5. Debtors

2024 2023
£ £
Trade debtors 17,894 24,658
Amounts owed by Group undertakings 0 308,428
Amounts owed by directors 152,214 30,117
Accrued income 185,551 24,865
VAT recoverable 5,009 2,969
Other debtors 5,361 20
366,029 391,057

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 5,754 2,642
Amounts owed to directors 0 56,083
Accruals 3,410 9,531
Other creditors 423 0
9,587 68,256

7. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
30,000 Ordinary shares of £ 1.00 each 30,000 30,000

8. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
S & J Buckle 0 0
Opening balances 30,117 0
Advances 3,459 127,875
Repayments (31,362) (97,758)
Closing balance 2,214 30,117
R & T Howells 0 0
Advances 150,000 0
Closing balance 150,000 0

Loan, repayable on demand, with interest charged at official rate

The company's wholly owned subsidiary, Wood Barton Investments Limited, owns 100 percent of the issued share capital of two Canadian companies, 0827934 BC Limited and 0827935 BC Limited.