4 false false false false false false false false false false true false false false false false false No description of principal activity 2023-09-01 Sage Accounts Production Advanced 2024 - FRS102_2024 23,264 23,264 xbrli:pure xbrli:shares iso4217:GBP 11517375 2023-09-01 2024-08-31 11517375 2024-08-31 11517375 2023-08-31 11517375 2022-09-01 2023-08-31 11517375 2023-08-31 11517375 2022-08-31 11517375 core:LandBuildings core:OwnedOrFreeholdAssets 2023-09-01 2024-08-31 11517375 core:PlantMachinery 2023-09-01 2024-08-31 11517375 core:MotorVehicles 2023-09-01 2024-08-31 11517375 bus:Director1 2023-09-01 2024-08-31 11517375 core:LandBuildings core:OwnedOrFreeholdAssets 2023-08-31 11517375 core:PlantMachinery 2023-08-31 11517375 core:MotorVehicles 2023-08-31 11517375 core:LandBuildings core:OwnedOrFreeholdAssets 2024-08-31 11517375 core:PlantMachinery 2024-08-31 11517375 core:MotorVehicles 2024-08-31 11517375 core:WithinOneYear 2024-08-31 11517375 core:WithinOneYear 2023-08-31 11517375 core:AfterOneYear 2024-08-31 11517375 core:AfterOneYear 2023-08-31 11517375 core:ShareCapital 2024-08-31 11517375 core:ShareCapital 2023-08-31 11517375 core:RetainedEarningsAccumulatedLosses 2024-08-31 11517375 core:RetainedEarningsAccumulatedLosses 2023-08-31 11517375 core:LandBuildings core:OwnedOrFreeholdAssets 2023-08-31 11517375 core:PlantMachinery 2023-08-31 11517375 core:MotorVehicles 2023-08-31 11517375 bus:SmallEntities 2023-09-01 2024-08-31 11517375 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 11517375 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 11517375 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 11517375 bus:FullAccounts 2023-09-01 2024-08-31 11517375 core:IntangibleAssetsOtherThanGoodwill 2023-09-01 2024-08-31 11517375 core:OfficeEquipment 2023-09-01 2024-08-31 11517375 core:IntangibleAssetsOtherThanGoodwill 2024-08-31 11517375 core:OfficeEquipment 2023-08-31 11517375 core:OfficeEquipment 2024-08-31 11517375 core:AfterOneYear 2023-09-01 2024-08-31 11517375 core:KeyManagementIndividualGroup1 2023-09-01 2024-08-31 11517375 core:KeyManagementIndividualGroup1 2024-08-31
COMPANY REGISTRATION NUMBER: 11517375
SD & AJ Wood Limited
Filleted Unaudited Financial Statements
For the year ended
31 August 2024
SD & AJ Wood Limited
Statement of Financial Position
31 August 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
6
2,592,659
2,512,593
Current assets
Stocks
476,142
488,917
Debtors
7
53,831
77,607
Investments
8
2,058
1,989
Cash at bank and in hand
1,295
36
----------
----------
533,326
568,549
Creditors: amounts falling due within one year
9
( 1,237,517)
( 1,218,163)
-------------
-------------
Net current liabilities
( 704,191)
( 649,614)
-------------
-------------
Total assets less current liabilities
1,888,468
1,862,979
Creditors: amounts falling due after more than one year
10
( 469,737)
( 455,289)
Provisions
Taxation including deferred tax
( 165,655)
( 111,645)
-------------
-------------
Net assets
1,253,076
1,296,045
-------------
-------------
Capital and reserves
Called up share capital
100
100
Profit and loss account
1,252,976
1,295,945
-------------
-------------
Shareholders funds
1,253,076
1,296,045
-------------
-------------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
SD & AJ Wood Limited
Statement of Financial Position (continued)
31 August 2024
These financial statements were approved by the board of directors and authorised for issue on 22 May 2025 , and are signed on behalf of the board by:
Mr SD Wood
Director
Company registration number: 11517375
SD & AJ Wood Limited
Notes to the Financial Statements
Year ended 31 August 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Linton House Farm, Balne, Goole, DN14 0ED, East Yorkshire.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
(b) Going concern
The UK economy has recently been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.
(c) Revenue recognition
Revenue from the sale of goods is recognised when the significant risk and reward of ownership of the goods have transferred to the buyer, usually on despatch of the goods.
(d) Current & deferred tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
(e) Intangible assets
Basic Payment Scheme entitlements acquired via the incorporation of the Company were revalued to fair value on transition to FRS 102 Section 1A and are being amortised over their expected useful life. At the reporting date the expected useful life is 5 years.
(f) Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
BPS Entitlements
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
(g) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
(h) Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property
-
20% straight line
Plant and machinery
-
15% reducing balance
Motor vehicles
-
15% reducing balance
Equipment
-
15% reducing balance
(i) Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
(j) Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
(k) Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
(l) Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangement entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2023: 5 ).
5. Intangible assets
BPS entitlements
£
Cost
At 1 September 2023 and 31 August 2024
23,264
--------
Amortisation
At 1 September 2023 and 31 August 2024
23,264
--------
Carrying amount
At 31 August 2024
--------
At 31 August 2023
--------
6. Tangible assets
Freehold property
Plant and machinery
Motor vehicles
Equipment
Total
£
£
£
£
£
Cost
At 1 September 2023
1,961,165
1,301,718
20,235
341
3,283,459
Additions
216,087
7,000
575
223,662
Disposals
( 124,008)
( 124,008)
-------------
-------------
--------
----
-------------
At 31 August 2024
1,961,165
1,393,797
27,235
916
3,383,113
-------------
-------------
--------
----
-------------
Depreciation
At 1 September 2023
45,422
708,544
16,849
51
770,866
Charge for the year
101,388
1,558
130
103,076
Disposals
( 83,488)
( 83,488)
-------------
-------------
--------
----
-------------
At 31 August 2024
45,422
726,444
18,407
181
790,454
-------------
-------------
--------
----
-------------
Carrying amount
At 31 August 2024
1,915,743
667,353
8,828
735
2,592,659
-------------
-------------
--------
----
-------------
At 31 August 2023
1,915,743
593,174
3,386
290
2,512,593
-------------
-------------
--------
----
-------------
7. Debtors
2024
2023
£
£
Trade debtors
43,079
45,383
Corporation tax repayable
6,938
Other debtors
10,752
25,286
--------
--------
53,831
77,607
--------
--------
8. Investments
2024
2023
£
£
Investments
2,058
1,989
-------
-------
9. Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
856,124
881,058
Trade creditors
151,861
211,068
Obligations under finance leases and hire purchase contracts
51,427
24,324
Directors Loan Accounts
178,105
101,713
-------------
-------------
1,237,517
1,218,163
-------------
-------------
Hire purchase liabilities are secured on the associated asset.
10. Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
373,217
391,806
Obligations under finance leases and hire purchase contracts
96,520
63,483
----------
----------
469,737
455,289
----------
----------
Included within creditors: amounts falling due after more than one year is an amount of £240,343 in respect of liabilities payable or repayable otherwise than by instalments which fall due for payment after more than five years from the reporting date.
Bank loans during the year are secured by fixed and floating charges.
Hire purchase liabilities are secured on the associated asset.
11. Related party transactions
During the year the directors made available loans to the company. The loans are interest free and repayable on demand. At the year end date the balance due to the directors totalled £ 178,105 (2023: £101,713).