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Registered number: 11064420









WOOD INVESTMENTS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2024

 
WOOD INVESTMENTS LIMITED
REGISTERED NUMBER: 11064420

BALANCE SHEET
AS AT 30 NOVEMBER 2024

2024
2023
Note
$
$

Fixed assets
  

Investments
 4 
5,270,800
1,273,074

  
5,270,800
1,273,074

Current assets
  

Debtors
 5 
518,222
536,165

Current asset investments
 6 
1,086,281
2,472,176

Cash at bank and in hand
 7 
3,281,340
5,452,262

  
4,885,843
8,460,603

Creditors: amounts falling due within one year
 8 
(37,886)
(39,211)

Net current assets
  
 
 
4,847,957
 
 
8,421,392

Total assets less current liabilities
  
10,118,757
9,694,466

  

Net assets
  
10,118,757
9,694,466


Capital and reserves
  

Called up share capital 
  
1,316
1,316

Share premium account
  
20,096,589
20,096,589

Profit and loss account
  
(9,979,148)
(10,403,439)

  
10,118,757
9,694,466


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


Page 1

 
WOOD INVESTMENTS LIMITED
REGISTERED NUMBER: 11064420
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2024



M S Sherwood
Director

Date: 30 November 2024

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
WOOD INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

1.


General information

Wood Investments Limited is a private company, limited by shares, registered in England and Wales (registration number: 11064420). The company's registered office address is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is USD.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Comprehensive Income within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
WOOD INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


Page 4

 
WOOD INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.6

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees




The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Directors
2
2

Page 5

 
WOOD INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

4.


Fixed asset investments





Other fixed asset investments

$



Cost or valuation


At 1 December 2023
8,008,074


Additions
4,000,000


Foreign exchange movement
(2,274)



At 30 November 2024

12,005,800



Impairment


At 1 December 2023
6,735,000



At 30 November 2024

6,735,000



Net book value



At 30 November 2024
5,270,800



At 30 November 2023
1,273,074


5.


Debtors

2024
2023
$
$

Due after more than one year

Accrued income
18,222
36,165

18,222
36,165

Due within one year

Deferred tax asset
500,000
500,000

518,222
536,165


Page 6

 
WOOD INVESTMENTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

6.


Current asset investments

2024
2023
$
$

Other investments
1,086,281
2,472,176

1,086,281
2,472,176


Other investments consist of loan receivables. The loans were issued to numerous unrelated companies and interest accrues at 10-17% per annum. The loans are repayable once the related projects are complete.
The loans are denominated in GBP and have been retranslated at the year end with any gain or loss on retranslation recognised in other operating income. 


7.


Cash and cash equivalents

2024
2023
$
$

Cash at bank and in hand
3,281,340
5,452,262

3,281,340
5,452,262



8.


Creditors: Amounts falling due within one year

2024
2023
$
$

Other creditors
29,118
29,118

Accruals
8,768
10,093

37,886
39,211



9.


Related party transactions

Other creditors is a directors loan of $29,118 (2022: $29,118). The amount is interest free and repayable on demand.
The total directors' remuneration for the year was Nil. (2022: Nil).

 
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