Registered number: 02358175
WOODCOTE STUD LIMITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 30 JUNE 2024
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WOODCOTE STUD LIMITED
REGISTERED NUMBER: 02358175
STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Provisions for liabilities
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WOODCOTE STUD LIMITED
REGISTERED NUMBER: 02358175
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2024
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
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 on 18 March 2025.
J P Hallam MBA MSc MA (Oxon)
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The notes on pages 3 to 9 form part of these financial statements.
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WOODCOTE STUD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
Woodcote Stud Limited is a company limited by shares, incorporated in England and Wales. The address of the registered office is 4 The Deans, Bridge Road, Bagshot, Surrey, GU19 5AT.
The company specialises in property rental and storage.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The following principal accounting policies have been applied:
The financial statements have been prepared on a going concern basis, notwithstanding the net liabilities of £6,538,733 (2023 - £6,903,527 unaudited), which the director believes to be appropriate for the following reasons.
The ultimate parent undertaking, Stonplan Limited, is owed £9,866,976 (2023 - £9,891,978 unaudited) by the company. The common director with Stonplan Limited has provided the company with confirmation that Stonplan Limited will not seek repayment of this loan until such time as the company has sufficient funds to do so and specifically not within 12 months of the date of approval of these financial statements. This will enable the company to meet its liabilities as they fall due.
On the above basis the director considers that the preparation of the financial statements on a going concern basis is appropriate.
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:
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.
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WOODCOTE STUD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
2.Accounting policies (continued)
Finance costs are charged to the Statement of comprehensive income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
All borrowing costs are recognised in the Statement of comprehensive income in the year in which they are incurred.
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of comprehensive income 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 reporting date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
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Revaluation of tangible fixed assets
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Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the reporting date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.
Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in Statement of comprehensive income.
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WOODCOTE STUD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
2.Accounting policies (continued)
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.
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Cash and cash equivalents
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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.
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.
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Provisions for liabilities
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Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
Increases in provisions are generally charged as an expense to the Statement of comprehensive income.
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The average monthly number of employees, including directors, during the year was 1 (2023 - 1 unaudited).
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WOODCOTE STUD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
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Freehold land and buildings
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At 1 July 2023 (unaudited)
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At 30 June 2023 (unaudited)
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Cost or valuation at 30 June 2024 is as follows:
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Freehold land and buildings
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If the land and buildings had not been included at valuation they would have been included under the historical cost convention as follows:
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WOODCOTE STUD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
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Prepayments and accrued income
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Cash and cash equivalents
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Included within cash at bank and in hand are rent deposits amounting to £17,171 (2023 - £16,800 unaudited). These monies are held in trust on behalf of tenants and as a result are not available for use by the company, except in accordance with the terms of their respective rent deposit deeds.
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Accruals and deferred income
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Included within other creditors are rent deposits amounting to £17,171 (2023 - £16,800 unaudited). These monies are held in trust on behalf of tenants and as a result are not available for use by the company, except in accordance with the terms of their respective rent deposit deeds.
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WOODCOTE STUD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
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At beginning of year (unaudited)
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Charged to the Statement of comprehensive income
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Charged to Other comprehensive income
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The provision for deferred taxation is made up as follows:
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Potential capital gains tax
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Tax losses carried forward
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Allotted, called up and fully paid
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2 Ordinary shares of £1 each
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Related party transactions
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The company has taken advantage of the exemption permitted by FRS 102 not to disclose any transactions with its parent company or other group undertakings on the basis that they are wholly owned.
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Post balance sheet events
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There have been no subsequent events that require disclosure or adjustments to the financial statements.
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WOODCOTE STUD LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024
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Ultimate parent undertaking and controlling party
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The immediate and ultimate parent undertaking is Stonplan Limited, a company incorporated in England and Wales. Its registered office address is 4 The Deans, Bridge Road, Bagshot, Surrey, GU19 5AT.
The results of this company are consolidated in the financial statements of the ultimate parent undertaking and available at Companies House.
The ultimate controlling party is Mr J P Hallam, MBA, MSc, MA (Oxon), by virtue of his majority shareholding in Stonplan Limited.
The auditors' report on the financial statements for the year ended 30 June 2024 was unqualified.
Other matters
The year ended 30 June 2024 was the first year in which the financial statements were audited. The comparative figures in these financial statements are therefore unaudited.
The audit report was signed on 18 March 2025 by Elliot S J Arwas (Senior statutory auditor) on behalf of Barnes Roffe LLP.
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