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REGISTERED NUMBER: 00672822 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024

FOR

WOODWARD & TAYLOR LIMITED

WOODWARD & TAYLOR LIMITED (REGISTERED NUMBER: 00672822)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WOODWARD & TAYLOR LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2024







DIRECTORS: Mr M Clarke
Mr L Briscoe



SECRETARY: Ms E Clarke



REGISTERED OFFICE: Watson House
Percy Street
Sheffield
South Yorkshire
S3 8BX



REGISTERED NUMBER: 00672822 (England and Wales)



ACCOUNTANTS: Gibson Booth Limited
12 Victoria Road
Barnsley
South Yorkshire
S70 2BB



BANKERS: Handelsbanken
Sheffield Barkers Pool
8th Floor
Fountain Precinct
Sheffield
South Yorkshire
S1 2JA

WOODWARD & TAYLOR LIMITED (REGISTERED NUMBER: 00672822)

BALANCE SHEET
30 NOVEMBER 2024

30.11.24 30.11.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 387,185 374,098

CURRENT ASSETS
Stocks 1,500 1,650
Debtors 5 177,798 176,350
Cash at bank 544,785 454,715
724,083 632,715
CREDITORS
Amounts falling due within one year 6 124,883 120,303
NET CURRENT ASSETS 599,200 512,412
TOTAL ASSETS LESS CURRENT LIABILITIES 986,385 886,510

CREDITORS
Amounts falling due after more than
one year

7

(39,565

)

(3,585

)

PROVISIONS FOR LIABILITIES (10,910 ) (8,424 )
NET ASSETS 935,910 874,501

CAPITAL AND RESERVES
Called up share capital 10 6,000 6,000
Share premium 47,000 47,000
Retained earnings 882,910 821,501
SHAREHOLDERS' FUNDS 935,910 874,501

WOODWARD & TAYLOR LIMITED (REGISTERED NUMBER: 00672822)

BALANCE SHEET - continued
30 NOVEMBER 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 6 May 2025 and were signed on its behalf by:





Mr L Briscoe - Director


WOODWARD & TAYLOR LIMITED (REGISTERED NUMBER: 00672822)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

1. STATUTORY INFORMATION

Woodward & Taylor Limited 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest pound.

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.

Significant judgements and estimates
No judgements have been made in the process of applying the below accounting policies that have had the most significant effect on amounts recognised in the financial statements.

There are no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year.

Turnover
Construction contracts
When the outcome of a construction contract can be estimated reliably, contract costs and turnover are recognised by reference to the stage of completion at the balance sheet date. Stage of completion is measured by reference to valuation and percentage of works completed.

Where the outcome cannot be measured reliably, contract costs are recognised as an expense in the period in which they are incurred and contract turnover is recognised to the extent of costs incurred that it is probable will be recoverable.

When it is probable that contract costs will exceed the total contract turnover, the expected loss is recognised as an expense immediately, with a corresponding provision.

Grant income
Grant income received is credited to the profit and loss account in full in the period to which it relates.

WOODWARD & TAYLOR LIMITED (REGISTERED NUMBER: 00672822)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows

Fixtures and fittings - 20% reducing balance
Motor vehicles - 25% reducing balance
Freehold property - not depreciated

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport and handling costs in bringing stocks to their present location and condition.

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.

WOODWARD & TAYLOR LIMITED (REGISTERED NUMBER: 00672822)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Rentals applicable to operating leases where substantially all of the benefits and risk of ownership remain with the lessor are charged to the profit or loss on a straight-line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 3 ) .

WOODWARD & TAYLOR LIMITED (REGISTERED NUMBER: 00672822)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and Motor
property fittings vehicles Totals
£    £    £    £   
COST
At 1 December 2023 329,761 8,429 86,626 424,816
Additions - - 66,195 66,195
Disposals - - (86,376 ) (86,376 )
At 30 November 2024 329,761 8,429 66,445 404,635
DEPRECIATION
At 1 December 2023 - 8,157 42,561 50,718
Charge for year - 54 19,745 19,799
Eliminated on disposal - - (53,067 ) (53,067 )
At 30 November 2024 - 8,211 9,239 17,450
NET BOOK VALUE
At 30 November 2024 329,761 218 57,206 387,185
At 30 November 2023 329,761 272 44,065 374,098

WOODWARD & TAYLOR LIMITED (REGISTERED NUMBER: 00672822)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 December 2023 37,106
Additions 66,195
Disposals (36,856 )
At 30 November 2024 66,445
DEPRECIATION
At 1 December 2023 18,896
Charge for year 13,219
Eliminated on disposal (23,184 )
At 30 November 2024 8,931
NET BOOK VALUE
At 30 November 2024 57,514
At 30 November 2023 18,210

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Trade debtors 133,674 175,866
VAT 44,124 -
Prepayments and accrued income - 484
177,798 176,350

WOODWARD & TAYLOR LIMITED (REGISTERED NUMBER: 00672822)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Hire purchase contracts (see note 8) 15,620 5,801
Trade creditors 55,764 16,702
Corporation tax 30,077 47,589
Social security and other taxes 6,815 7,421
VAT - 20,004
Other creditors 13,586 14,884
Directors' current accounts 371 371
Accruals and deferred income 2,650 7,531
124,883 120,303

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.11.24 30.11.23
£    £   
Hire purchase contracts (see note 8) 39,565 3,585

8. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

30.11.24 30.11.23
£    £   
Net obligations repayable:
Within one year 15,620 5,801
Between one and five years 39,565 3,585
55,185 9,386

9. SECURED DEBTS

The following secured debts are included within creditors:

30.11.24 30.11.23
£    £   
Hire purchase contracts 55,185 9,386

WOODWARD & TAYLOR LIMITED (REGISTERED NUMBER: 00672822)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.24 30.11.23
value: £    £   
2,000 Ordinary A £1 2,000 2,000
1,700 Ordinary B £1 1,700 2,000
2,000 Ordinary C £1 2,000 2,000
300 Ordinary D £1 300 -
6,000 6,000

11. RELATED PARTY DISCLOSURES

Mr M Clarke
A shareholder and director of the company.

During the year the company rented premises owned by Mr M Clarke. The rent charged in the year was £7,200 (2023: £7,200).