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REGISTERED NUMBER: 10003241 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 31 July 2024

for

Woods Motor Company Ltd

Woods Motor Company Ltd (Registered number: 10003241)






Contents of the Financial Statements
for the Year Ended 31 July 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Woods Motor Company Ltd

Company Information
for the Year Ended 31 July 2024







DIRECTORS: D L R Woods
Mrs E L Woods





REGISTERED OFFICE: Byards Leap Garage
Byards Leap
Cranwell
Sleaford
Lincolnshire
NG34 8EY





REGISTERED NUMBER: 10003241 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
Northgate House
Northgate
Sleaford
Lincolnshire
NG34 7BZ

Woods Motor Company Ltd (Registered number: 10003241)

Balance Sheet
31 July 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 18,142 20,381

CURRENT ASSETS
Stocks 92,000 96,350
Debtors 5 79,575 21,238
Cash at bank and in hand 2,633 468
174,208 118,056
CREDITORS
Amounts falling due within one year 6 168,547 108,461
NET CURRENT ASSETS 5,661 9,595
TOTAL ASSETS LESS CURRENT
LIABILITIES

23,803

29,976

CREDITORS
Amounts falling due after more than one
year

7

(19,978

)

(24,251

)

PROVISIONS FOR LIABILITIES (3,292 ) (3,184 )
NET ASSETS 533 2,541

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 433 2,441
SHAREHOLDERS' FUNDS 533 2,541

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

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 25 February 2025 and were signed on its behalf by:





D L R Woods - Director


Woods Motor Company Ltd (Registered number: 10003241)

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

1. STATUTORY INFORMATION

Woods Motor Company Ltd 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on reducing balance
Computer equipment - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Woods Motor Company Ltd (Registered number: 10003241)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 August 2023 38,253 - 38,253
Additions 1,600 696 2,296
At 31 July 2024 39,853 696 40,549
DEPRECIATION
At 1 August 2023 17,872 - 17,872
Charge for year 4,396 139 4,535
At 31 July 2024 22,268 139 22,407
NET BOOK VALUE
At 31 July 2024 17,585 557 18,142
At 31 July 2023 20,381 - 20,381

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 16,724 16,123
Amounts owed by group undertakings 16,671 3,645
Other debtors 46,180 1,470
79,575 21,238

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 93,838 57,904
Trade creditors 63,479 27,128
Taxation and social security 8,630 19,914
Other creditors 2,600 3,515
168,547 108,461

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 19,978 24,251

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 43,512 45,274

Woods Motor Company Ltd (Registered number: 10003241)

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

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary 1 100 100