Registered number
10497206
A Woods Agricultural Limited
Filleted Accounts
31 December 2024
A Woods Agricultural Limited
Registered number: 10497206
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 217,015 227,796
Current assets
Stocks 71,141 69,391
Debtors 4 197,334 168,800
Cash at bank and in hand 15,944 6,844
284,419 245,035
Creditors: amounts falling due within one year 5 (351,464) (322,081)
Net current liabilities (67,045) (77,046)
Total assets less current liabilities 149,970 150,750
Creditors: amounts falling due after more than one year 6 (58,495) (92,134)
Net assets 91,475 58,616
Capital and reserves
Profit and loss account 91,475 58,616
Shareholders' funds 91,475 58,616
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr A Woods
Director
Approved by the board on 13 March 2025
A Woods Agricultural Limited
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 12 12
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2024 152,814 145,474 78,760 377,048
Additions - 5,270 - 5,270
At 31 December 2024 152,814 150,744 78,760 382,318
Depreciation
At 1 January 2024 - 98,631 50,621 149,252
Charge for the year - 10,423 5,628 16,051
At 31 December 2024 - 109,054 56,249 165,303
Net book value
At 31 December 2024 152,814 41,690 22,511 217,015
At 31 December 2023 152,814 46,843 28,139 227,796
4 Debtors 2024 2023
£ £
Trade debtors 198,003 169,469
Other debtors (669) (669)
197,334 168,800
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 53,793 42,629
Trade creditors 146,609 113,772
Taxation and social security costs 77,393 86,647
Other creditors 73,669 79,033
351,464 322,081
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 58,495 92,134
7 Other information
A Woods Agricultural Limited is a private company limited by shares and incorporated in England. Its registered office is:
Delancey, Pipwell Gate
Saracens Head
Holbeach, Spalding
Lincs
PE12 8BA
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