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Registration number: 00633935

Wood Bros. (Properties) Limited

Unaudited Financial Statements

for the Year Ended 31 March 2025

Brebners
Chartered Accountants
1 Suffolk Way
Sevenoaks
Kent
TN13 1YL

 

Wood Bros. (Properties) Limited

Statement of Financial Position as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

368

532

Investment property

5

2,189,250

2,085,000

 

2,189,618

2,085,532

Current assets

 

Debtors

6

8,892

13,689

Cash at bank and in hand

 

174,254

169,530

 

183,146

183,219

Creditors: Amounts falling due within one year

7

(18,977)

(25,373)

Net current assets

 

164,169

157,846

Total assets less current liabilities

 

2,353,787

2,243,378

Provisions for liabilities

(270,411)

(244,348)

Net assets

 

2,083,376

1,999,030

Capital and reserves

 

Called up share capital

3,000

3,000

Retained earnings

2,080,376

1,996,030

Shareholders' funds

 

2,083,376

1,999,030

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

The directors have elected not to include a copy of the Income Statement within the financial statements, in accordance with the special provisions relating to companies subject to the small companies regime within the Companies Act 2006, section 444.

 

Wood Bros. (Properties) Limited

Statement of Financial Position as at 31 March 2025

Approved and authorised by the Board on 16 June 2025 and signed on its behalf by:
 

.........................................

Mr M R Hobson

Director

Company registration number: 00633935

 

Wood Bros. (Properties) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1 Suffolk Way
Sevenoaks
Kent
TN13 1YL

The principal activity of the company is that of property investment.

2

Accounting policies

Statement of compliance

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' Section 1A and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except any items disclosed in the accounting policies as being shown at fair value and are presented in sterling, which is the functional currency of the entity.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented.

Going concern

The company made a profit for the year ended 31 March 2025 and had net assets at that date of £2,083,376 including cash at bank amounting to £174,254.

The company continues to trade profitably subsequent to 31 March 2025 and the directors do not believe the current economic conditions will have a significant effect on the company.

On the basis of the above, and after making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable in respect of rental income receivable in the ordinary course of the company's activities. Turnover is shown net of returns, rebates and discounts.

The company recognises rental income evenly over the periods of the leases and licenses in place.

 

Wood Bros. (Properties) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets over their useful lives as follows:

Asset class

Depreciation method and rate

Furniture, fittings and equipment

20% Straight Line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined by external valuers and reviewed annually by directors. The valuers and directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due for rental income receivable from tenants arising in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Wood Bros. (Properties) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company during the year was 2 (2024 - 2).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 April 2024

819

819

At 31 March 2025

819

819

Depreciation

At 1 April 2024

287

287

Charge for the year

164

164

At 31 March 2025

451

451

Carrying amount

At 31 March 2025

368

368

At 31 March 2024

532

532

5

Investment properties

2025
£

Fair value

At 31 March 2024

2,085,000

Fair value adjustments

104,250

At 31 March 2025

2,189,250

The investment properties are reflected at fair value at 31 March 2025 as estimated by the directors.

 

Wood Bros. (Properties) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

6

Debtors

2025
£

2024
£

Trade debtors

4,125

8,532

Other debtors

4,767

5,157

8,892

13,689

7

Creditors

2025
£

2024
£

Due within one year

 

Taxation and social security

 

15,137

21,533

Other creditors

 

3,840

3,840

 

18,977

25,373

8

Reserves

The profit and loss account includes an amount of £1,827,455 (2024: £1,749,268) which is non-distributable.