Registration number:
Woodrow Estates Limited
for the Year Ended 30 June 2024
Woodrow Estates Limited
Contents
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Woodrow Estates Limited
Company Information
Directors |
Mr S Bains Mrs A Kaur |
Registered office |
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Accountants |
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Woodrow Estates Limited
(Registration number: 11394024) (England and Wales)
Balance Sheet as at 30 June 2024
Note |
2024 |
2023 |
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Fixed assets |
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Investments |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Net liabilities |
( |
( |
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Capital and reserves |
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Called up share capital |
100 |
100 |
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Retained earnings |
(61,084) |
(45,022) |
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Shareholders' deficit |
(60,984) |
(44,922) |
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:
• |
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• |
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. |
Woodrow Estates Limited
(Registration number: 11394024) (England and Wales)
Balance Sheet as at 30 June 2024 (continued)
The financial statements were approved and authorised for issue by the
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Woodrow Estates Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
United Kingdom
These financial statements were authorised for issue by the
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The functional and presentational currency is GBP Sterling (£), being the currency of the primary economic environment in which the company operates in. The amounts are presented rounded to the nearest pound.
Going concern
The company relies on ongoing financial support from its shareholders to continue operations and meet its obligations as they fall due. The shareholders have committed to providing sufficient funding for at least 12 months from the date of approval of these financial statements. Based on this assurance, the directors consider it appropriate to prepare the financial statements on a going concern basis.
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Woodrow Estates Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)
2 |
Accounting policies (continued) |
Investments
Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment. Dividends on equity securities are recognised in income when receivable.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Woodrow Estates Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)
2 |
Accounting policies (continued) |
Financial instruments
Classification
Recognition and measurement
Debt instruments that are payable or receivable within one year, typically trade creditors or debtors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms of financed at a rate of interest that is not a market rate or in case of an out-right short term loan not at a market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Impairment
For financial assets measured as amortised cost, the impairment loss is measured as the difference between an asset’s carrying amount and the present value of estimated cash flows discounted at the asset’s original effective interest rate. If a financial asset has a variable interest rate, the discounted rate for measuring any impairment loss is the current effective interest rate determined under the contract.
Financial assets and liabilities are offset and the net amount reported in the Balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Staff numbers |
The average monthly number of persons employed by the company (including directors) during the year, was
Woodrow Estates Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)
Investments |
2024 |
2023 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
Cost or valuation |
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At 1 July 2023 |
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Carrying amount |
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At 30 June 2024 |
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At 30 June 2023 |
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Details of undertakings
Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2024 |
2023 |
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Subsidiary undertakings |
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66 Breamore Road,
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66 Breamore Road,
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Subsidiary undertakings |
Bains Kang Developments Ltd The principal activity of Bains Kang Developments Ltd is |
Knoll Estates Limited The principal activity of Knoll Estates Limited is |
Woodrow Estates Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)
Debtors |
Note |
2024 |
2023 |
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Amounts owed by related parties |
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Prepayments |
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- |
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The amount owed by related parties are recoverable after more than one year.
Creditors |
Creditors: amounts falling due within one year
Note |
2024 |
2023 |
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Due within one year |
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Bank loans |
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Trade creditors |
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- |
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Other creditors |
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Accrued expenses |
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Directors current account |
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Creditors: amounts falling due after more than one year
Note |
2024 |
2023 |
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Due after one year |
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Loans and borrowings |
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Amounts owed to related parties |
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1,186,447 |
762,292 |
Bank borrowings consists of a government-backed Loan with a repayment term of 6 years from 18 May 2020. The interest rate applicable to the loan is 2.5% per annum with the first 12 months interest being covered by the Government.
Woodrow Estates Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)
Share capital |
Allotted, called up and fully paid shares
2024 |
2023 |
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No. |
£ |
No. |
£ |
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100 |
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100 |
Related party transactions |
At the balance sheet date, the company owed £1,154,329 (2023 :£730,174) to other companies which have common director. The loans are interest free and repayable on demand.
The company received funding from family members of the director of £56,000 (2023:£56,000) These loans are interest free, unsecured and with no fixed terms of repayment.