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REGISTERED NUMBER: 01958029 (England and Wales)










Unaudited Financial Statements

For The Year Ended 31 December 2024

for

Woodgate Sawmills Limited

Woodgate Sawmills Limited (Registered number: 01958029)






Contents of the Financial Statements
For The Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Woodgate Sawmills Limited

Company Information
For The Year Ended 31 December 2024







DIRECTORS: A P Humphries
D S Humphries





REGISTERED OFFICE: Goodridge Court
Goodridge Avenue
Gloucester
Gloucestershire
GL2 5EN





REGISTERED NUMBER: 01958029 (England and Wales)





ACCOUNTANTS: Kingscott Dix Limited
Chartered Accountants
Goodridge Court
Goodridge Avenue
Gloucester
Gloucestershire
GL2 5EN

Woodgate Sawmills Limited (Registered number: 01958029)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 2,079,439 2,109,662

CURRENT ASSETS
Stocks 552,586 538,193
Debtors 5 330,140 341,736
Cash at bank and in hand 840,535 849,957
1,723,261 1,729,886
CREDITORS
Amounts falling due within one year 6 468,429 620,072
NET CURRENT ASSETS 1,254,832 1,109,814
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,334,271

3,219,476

CREDITORS
Amounts falling due after more than one
year

7

(136,449

)

(48,578

)

PROVISIONS FOR LIABILITIES (371,045 ) (382,298 )
NET ASSETS 2,826,777 2,788,600

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 2,825,777 2,787,600
2,826,777 2,788,600

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

Woodgate Sawmills Limited (Registered number: 01958029)

Balance Sheet - continued
31 December 2024


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 23 May 2025 and were signed on its behalf by:





A P Humphries - Director


Woodgate Sawmills Limited (Registered number: 01958029)

Notes to the Financial Statements
For The Year Ended 31 December 2024

1. STATUTORY INFORMATION

Woodgate Sawmills 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.

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.

Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 10% on cost
Plant and machinery - 15% on reducing balance
Motor vehicles - 15% on reducing balance

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

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets
Basic financial assets, which include and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Woodgate Sawmills Limited (Registered number: 01958029)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.

Basic financial liabilities
Basic financial liabilities, including trade and other creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Derecognition of financial liabilities
Financial liabilities are derecognised when, and only when, the company's obligations are discharged, cancelled, or they expire.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to 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 21 (2023 - 22 ) .

Woodgate Sawmills Limited (Registered number: 01958029)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2024

4. TANGIBLE FIXED ASSETS
Short Plant and Motor
leasehold machinery vehicles Totals
£    £    £    £   
COST
At 1 January 2024 1,186,564 5,152,506 558,544 6,897,614
Additions 73,109 59,573 162,269 294,951
Disposals - - (12,995 ) (12,995 )
At 31 December 2024 1,259,673 5,212,079 707,818 7,179,570
DEPRECIATION
At 1 January 2024 691,028 3,753,152 343,772 4,787,952
Charge for year 33,066 215,651 76,296 325,013
Eliminated on disposal - - (12,834 ) (12,834 )
At 31 December 2024 724,094 3,968,803 407,234 5,100,131
NET BOOK VALUE
At 31 December 2024 535,579 1,243,276 300,584 2,079,439
At 31 December 2023 495,536 1,399,354 214,772 2,109,662

The net book value above includes assets subject to hire purchase agreements as at 31 December 2024 totalling £211,444 (2023: £216,920). Depreciation on these assets for the year totalled £48,450 (2023: £33,567).

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 221,088 281,533
Other debtors 807 -
Directors' current accounts - 10,098
VAT 19,500 -
Prepayments 88,745 50,105
330,140 341,736

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Hire purchase contracts 29,226 71,318
Trade creditors 345,150 396,924
Tax 31,474 68,165
Social security and other taxes 6,955 12,034
VAT - 15,369
Other creditors 12,981 9,497
Accruals and deferred income 42,643 46,765
468,429 620,072

Woodgate Sawmills Limited (Registered number: 01958029)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.24 31.12.23
£    £   
Hire purchase contracts 105,337 13,116
Accruals and deferred income 31,112 35,462
136,449 48,578

8. SECURED DEBTS

The following secured debts are included within creditors:

31.12.24 31.12.23
£    £   
Hire purchase contracts 134,563 84,434