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REGISTERED NUMBER: 02014653 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

WOOD & CO (LEICESTER) LIMITED

WOOD & CO (LEICESTER) LIMITED (REGISTERED NUMBER: 02014653)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 9

WOOD & CO (LEICESTER) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: M R Spencer
Ms J A Spencer





SECRETARY: M R Spencer





REGISTERED OFFICE: Lonsdale House
High Street
Lutterworth
Leicestershire
LE17 4AD





REGISTERED NUMBER: 02014653 (England and Wales)





ACCOUNTANTS: Crowfoot & Co Accountants Ltd
Lonsdale House
High Street
Lutterworth
Leicestershire
LE17 4AD

WOOD & CO (LEICESTER) LIMITED (REGISTERED NUMBER: 02014653)

BALANCE SHEET
31 AUGUST 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 1,936,158 1,668,737
Investment property 6 669,876 834,876
2,606,034 2,503,613

CURRENT ASSETS
Stocks 181,000 181,000
Debtors 7 921,483 894,958
Cash at bank 61,619 232,628
1,164,102 1,308,586
CREDITORS
Amounts falling due within one year 8 952,662 963,769
NET CURRENT ASSETS 211,440 344,817
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,817,474

2,848,430

CREDITORS
Amounts falling due after more than
one year

9

(785,762

)

(612,219

)

PROVISIONS FOR LIABILITIES (282,072 ) (193,067 )
NET ASSETS 1,749,640 2,043,144

CAPITAL AND RESERVES
Called up share capital 275 275
Revaluation reserve 10 647,124 647,124
Capital redemption reserve 225 225
Retained earnings 1,102,016 1,395,520
SHAREHOLDERS' FUNDS 1,749,640 2,043,144

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

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

WOOD & CO (LEICESTER) LIMITED (REGISTERED NUMBER: 02014653)

BALANCE SHEET - continued
31 AUGUST 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 14 May 2025 and were signed on its behalf by:




M R Spencer - Director



Ms J A Spencer - Director


WOOD & CO (LEICESTER) LIMITED (REGISTERED NUMBER: 02014653)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024

1. STATUTORY INFORMATION

Wood & Co (Leicester) 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 measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2000, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Freehold property - 2% on cost
Plant and machinery - 10% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 10% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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

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.


WOOD & CO (LEICESTER) LIMITED (REGISTERED NUMBER: 02014653)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

2. ACCOUNTING POLICIES - continued
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
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.

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 25 (2023 - 28 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2023
and 31 August 2024 200,000
AMORTISATION
At 1 September 2023
and 31 August 2024 200,000
NET BOOK VALUE
At 31 August 2024 -
At 31 August 2023 -

WOOD & CO (LEICESTER) LIMITED (REGISTERED NUMBER: 02014653)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Motor
property machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 September 2023 561,850 105,940 90,226 2,154,069 2,912,085
Additions - 15,309 - 521,424 536,733
Disposals - - - (143,975 ) (143,975 )
At 31 August 2024 561,850 121,249 90,226 2,531,518 3,304,843
DEPRECIATION
At 1 September 2023 99,045 79,749 76,497 988,057 1,243,348
Charge for year 11,237 6,225 2,059 159,738 179,259
Eliminated on disposal - - - (53,922 ) (53,922 )
At 31 August 2024 110,282 85,974 78,556 1,093,873 1,368,685
NET BOOK VALUE
At 31 August 2024 451,568 35,275 11,670 1,437,645 1,936,158
At 31 August 2023 462,805 26,191 13,729 1,166,012 1,668,737

The freehold property comprising the haulage depot at Little Shaw Lane, Markfield and the garage at The Rookery, Groby was valued at £560,000 by Roy Green Surveyors at 28 August 2013. The property was transferred to the company during the year ended 31 August 2015 from the estate of W R Spencer deceased. On an historical cost basis the properties have an original cost of £79,741.

Fixed assets, included in the above, which are held under finance leases are as follows:
Motor
vehicles
£   
COST
At 1 September 2023 1,111,710
Additions 483,424
Disposals (143,975 )
At 31 August 2024 1,451,159
DEPRECIATION
At 1 September 2023 232,172
Charge for year 127,291
Eliminated on disposal (53,922 )
At 31 August 2024 305,541
NET BOOK VALUE
At 31 August 2024 1,145,618
At 31 August 2023 879,538

WOOD & CO (LEICESTER) LIMITED (REGISTERED NUMBER: 02014653)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2023 834,876
Disposals (165,000 )
At 31 August 2024 669,876
NET BOOK VALUE
At 31 August 2024 669,876
At 31 August 2023 834,876

The 2017 valuations were made by the directors, on an open market value for existing use basis - no material movement in value from 2016.

On an historical cost basis the properties basis an original cost of £769,288.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 772,687 786,162
Other debtors 148,796 108,796
921,483 894,958

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 56,939 32,564
Finance leases 233,743 100,502
Trade creditors 587,888 733,747
Taxation and social security 50,343 73,407
Other creditors 23,749 23,549
952,662 963,769

The bank loan is secured by fixed charges on various properties owned by the company.

Net obligations under finance leases and hire purchase contracts are secured by fixed charges on the assets concerned.

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 371,331 434,445
Finance leases 414,431 177,774
785,762 612,219

Net obligations under finance leases and hire purchase contracts are secured by fixed charges on the assets concerned.

The bank loan is secured by fixed charges on various properties owned by the company.

WOOD & CO (LEICESTER) LIMITED (REGISTERED NUMBER: 02014653)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024

10. RESERVES
Revaluation
reserve
£   
At 1 September 2023
and 31 August 2024 647,124

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At 31 August 2024, an amount of £135,477 (2023 £95,477) was due from the directors' which amount is included within debtors on the balance sheet.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
WOOD & CO (LEICESTER) LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Wood & Co (Leicester) Limited for the year ended 31 August 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Wood & Co (Leicester) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Wood & Co (Leicester) Limited and state those matters that we have agreed to state to the Board of Directors of Wood & Co (Leicester) Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at
https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Wood & Co (Leicester) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Wood & Co (Leicester) Limited. You consider that Wood & Co (Leicester) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Wood & Co (Leicester) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Crowfoot & Co Accountants Ltd
Lonsdale House
High Street
Lutterworth
Leicestershire
LE17 4AD


14 May 2025