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Registration number: 11394024 (England and Wales)

Woodrow Estates Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Woodrow Estates Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 9

 

Woodrow Estates Limited

Company Information

Directors

Mr S Bains

Mrs A Kaur

Registered office

66 Breamore Road
Ilford
IG3 9ND

Accountants

Aventus Partners Limited
Chartered AccountantsHygeia Building
Ground Floor
66-68 College Road
Harrow
Middlesex
HA1 1BE

 

Woodrow Estates Limited

(Registration number: 11394024) (England and Wales)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

4

101

101

Current assets

 

Debtors

5

1,396,318

1,039,919

Cash at bank and in hand

 

103

4,011

 

1,396,421

1,043,930

Creditors: Amounts falling due within one year

6

(271,059)

(326,661)

Net current assets

 

1,125,362

717,269

Total assets less current liabilities

 

1,125,463

717,370

Creditors: Amounts falling due after more than one year

6

(1,186,447)

(762,292)

Net liabilities

 

(60,984)

(44,922)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

(61,084)

(45,022)

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:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476; and

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)

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

The financial statements were approved and authorised for issue by the Board on 25 February 2025 and signed on its behalf by:
 

.........................................
Mr S Bains
Director

   
     
 

Woodrow Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
66 Breamore Road
Ilford
IG3 9ND
United Kingdom

These financial statements were authorised for issue by the Board on 25 February 2025.

2

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
The company only enters into basic financial instruments 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 and loans from related parties.

 Recognition and measurement
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other debtors and creditors, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method.

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
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 if recognised in the Profit and loss account.

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.

3

Staff numbers

The average monthly number of persons employed by the company (including directors) during the year, was 2 (2023: 2).

 

Woodrow Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

4

Investments

2024
£

2023
£

Investments in subsidiaries

101

101

Subsidiaries

£

Cost or valuation

At 1 July 2023

101

Carrying amount

At 30 June 2024

101

At 30 June 2023

101

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

     

2024

2023

Subsidiary undertakings

Bains Kang Developments Ltd

66 Breamore Road,
Ilford, IG3 9ND.
England.

Ordinary shares

50%

50%

Knoll Estates Limited

66 Breamore Road,
Ilford, IG3 9ND.
England.

Ordinary shares

100%

100%

Subsidiary undertakings

Bains Kang Developments Ltd

The principal activity of Bains Kang Developments Ltd is property development.

Knoll Estates Limited

The principal activity of Knoll Estates Limited is property trading.

 

Woodrow Estates Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024 (continued)

5

Debtors

Note

2024
£

2023
£

Amounts owed by related parties

8

1,396,217

1,039,919

Prepayments

 

101

-

 

1,396,318

1,039,919

The amount owed by related parties are recoverable after more than one year.

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Bank loans

10,649

10,649

Trade creditors

 

4,000

-

Other creditors

8

56,000

56,000

Accrued expenses

 

4,631

5,200

Directors current account

 

195,779

254,812

 

271,059

326,661

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

32,118

32,118

Amounts owed to related parties

8

1,154,329

730,174

 

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)

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Share Capital of £50 each

2

100

2

100

       

8

Related party transactions

At the balance sheet date, the company was owed £1,396,217 (2023 :£1,039,919) by other companies which have common director. The loans are interest free and repayable on demand.

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.