Company registration number 09773808 (England and Wales)
WOOD FARM (PHASE 2) LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
WOOD FARM (PHASE 2) LTD
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 5
WOOD FARM (PHASE 2) LTD
STATEMENT OF FINANCIAL POSITION
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
2
105,522
123,580
Current assets
Debtors
3
1,149,107
661,520
Cash at bank and in hand
11,833
26,066
1,160,940
687,586
Creditors: amounts falling due within one year
4
(1,222,299)
(756,825)
Net current liabilities
(61,359)
(69,239)
Total assets less current liabilities
44,163
54,341
Creditors: amounts falling due after more than one year
5
(12,976)
Provisions for liabilities
6
(30,895)
(30,895)
Net assets
13,268
10,470
Capital and reserves
Called up share capital
7
100
100
Profit and loss reserves
13,168
10,370
Total equity
13,268
10,470
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the income statement within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 25 June 2025 and are signed on its behalf by:
J Moody
Director
Company registration number 09773808 (England and Wales)
WOOD FARM (PHASE 2) LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 2 -
1
Accounting policies
Company information
Wood Farm (Phase 2) Ltd is a private company limited shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
1.2
Going concern
After making enquiries and preparing integrated profit and loss and cash flow forecasts for one year from the date the financial statements are signed the Directors have formed a judgement that, as at the date of approving the financial statements, there is a reasonable expectation that the Company has adequate resources to continue in existence for the foreseeable future.true
In making this assessment the Board of Directors has undertaken a thorough review of the company's budgets and forecasts, and group budget and forecasts and has produced detailed and realistic cash flow projections. They have also considered potential impacts of current uncertainties in the wider economy.
These cash flow projections demonstrate that the group has sufficient working capital for the foreseeable future. In light of the assessment, the directors remain of the view that the forecast is achievable and that the headroom within the forecast should be sufficient to enable to company to operate and meet its liabilities as they fall due for payment throughout the year.
The company will continue to receive parent company and ultimate parent company support for the period of 12 months from the approval date of the accounts with such support having been confirmed in writing and as such the going concern basis of preparing the accounts is deemed appropriate.
The financial statements have accordingly been prepared on a going concern basis.
1.3
Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
The company recognises revenue from the following major sources:
The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:
Landfill tipping income
Revenue from landfill tipping services is recognised at the date that the service is provided.
WOOD FARM (PHASE 2) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 3 -
1.4
Tangible fixed assets
Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.
The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when the cost is incurred, if the replacement part is expected to provide incremental future benefits to the Company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment
10% reducing balance
Motor vehicles
25% straight line
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement.
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
2
Tangible fixed assets
Plant and equipment
Motor vehicles
Total
£
£
£
Cost
At 1 October 2023 and 30 September 2024
170,000
37,843
207,843
Depreciation and impairment
At 1 October 2023
52,753
31,510
84,263
Depreciation charged in the year
11,725
6,333
18,058
At 30 September 2024
64,478
37,843
102,321
WOOD FARM (PHASE 2) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
2
Tangible fixed assets
Plant and equipment
Motor vehicles
Total
£
£
£
(Continued)
- 4 -
Carrying amount
At 30 September 2024
105,522
105,522
At 30 September 2023
117,247
6,333
123,580
3
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
189,385
224,450
Amounts owed by group undertakings
943,273
429,045
Other debtors
16,449
8,025
1,149,107
661,520
Amounts owed by group undertakings, participating interests and associates do not bear interest, are unsecured and are repayable on demand.
Included within other debtors is an unsecured interest free loan in the sum of £8,250 to the director B Saunders.
4
Creditors: amounts falling due within one year
2024
2023
£
£
Obligations under finance leases
12,976
16,471
Trade creditors
4,409
32,146
Amounts owed to group undertakings
1,165,178
474,989
Taxation and social security
87,863
Accruals and deferred income
39,736
145,356
1,222,299
756,825
Amounts owed to group undertakings, participating interests and associates do not bear interest, are unsecured and are repayable on demand.
Amounts due under finance leases in the sum of £12,976 are secured upon the assets to which they relate.
5
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Obligations under finance leases
12,976
WOOD FARM (PHASE 2) LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
6
Provisions for liabilities
2024
2023
£
£
Deferred tax liabilities
30,895
30,895
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
100
100
100
100
8
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.
The auditor's report is unqualified and includes the following:
Opinion
In our opinion the financial statements:
give a true and fair view of the state of the company's affairs as at 30 September 2024 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.
Senior Statutory Auditor:
Mr Alan Jones FCCA
Statutory Auditor:
Sumer Auditco Limited
Date of audit report:
27 June 2025
9
Ultimate controlling party
The directors regard Laney Green Holdings Limited as the company's ultimate parent undertakings, whose registered office is West Point, Second Floor, Mucklow Office Park, Mucklow Hill, Halesowen, B62 8DY. The consolidated accounts of this company may be obtained from the Registrar of Companies Registration Office, Crown Way, Maindy, Cardiff, CF14 3UZ.