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Registered Number: 09787294
England and Wales

 

 

 

WOOD LANE PROPERTY LTD



Unaudited Financial Statements
 


Period of accounts

Start date: 01 October 2023

End date: 30 September 2024
Director Mark Wood
Registered Number 09787294
Registered Office The Courtyard Offices, The Grange
Wheldrake Lane
Elvington
York
YO41 4AZ
Accountants Cotton Accountancy Services Limited
83 Ducie Street
Manchester
M1 2JQ
1
Director's report and financial statements
The directors present his/her/their annual report and the financial statements for the year ended 30 September 2024.
Principal activities
The principal activity of the company during the financial year was the rental of property and the buying and selling of property.
Directors
The directors who served the company throughout the year were as follows:
Mark Wood (from 21/09/2015)
Mark Wasley (from 21/09/2015 to 22/04/2024)
Statement of directors' responsibilities
These accounts have been prepared and delivered in accordance with the provisions of part 15 of the Companies Act 2006 applicable
to companies subject to the small companies regime, FRS 102 Section 1A small entities.

This report was approved by the board and signed on its behalf by:


----------------------------------
Mark Wood
Director

Date approved: 01 July 2025
2
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Wood Lane Property Ltd for the year ended 30 September 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Wood Lane Property Ltd for the year ended 30 September 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance

This report is made solely to the Board of Directors of Wood Lane Property Ltd , as a body, in accordance with the terms of our engagement letter dated 31 October 2024. Our work has been undertaken solely to prepare for your approval the accounts of Wood Lane Property Ltd and state those matters that we have agreed to state to the Board of Directors of Wood Lane Property Ltd , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Wood Lane Property Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Wood Lane Property Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Wood Lane Property Ltd . You consider that Wood Lane Property Ltd 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 accounts of Wood Lane Property Ltd . 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 accounts 2024.



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

Cotton Accountancy Services Limited

83 Ducie Street
Manchester
M1 2JQ
01 July 2025
3
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 9,625    798 
Investments 4 2,920,172    2,613,333 
2,929,797    2,614,131 
Current assets      
Debtors: amounts falling due within one year 5 228,385    119,802 
Cash at bank and in hand 8,905    1,964 
237,290    121,766 
Creditors: amount falling due within one year 6 (32,657)   (44,554)
Net current assets 204,633    77,212 
 
Total assets less current liabilities 3,134,430    2,691,343 
Creditors: amount falling due after more than one year 7 (2,129,722)   (2,107,972)
Provisions for liabilities 8 (266,826)   (97,649)
Net assets 737,882    485,722 
 

Capital and reserves
     
Called up share capital 9 100    100 
Reserves 10 500,634    181,690 
Profit and loss account 237,148    303,932 
Shareholders' funds 737,882    485,722 
 


For the year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 01 July 2025 and were signed on its behalf by:


-------------------------------
Mark Wood
Director
4
General Information
Wood Lane Property Ltd is a private company, limited by shares, domiciled in England and Wales, registration number 09787294. The registered address of the company is The Courtyard Offices, The Grange, Wheldrake Lane, Elvington, York, YO41 4AZ.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 20% Straight Line
Fixtures and Fittings 20% Straight Line
Investment properties
Investment properties are initially included at cost of purchased investment property and directly attributable
expenditure.
Investment properties are included in the balance sheet at fair value at the balance sheet date. Revaluation gains are recognised in the income statement. The gains are held in a non-distributable fair value reserve going forward. Depreciation is provided only on those investment properties which are leasehold and where the unexpired lease term is less than 20 years.
Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees


Average number of employees during the year was 1 (2023 : 1).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Fixtures and Fittings   Total
  £   £   £
At 01 October 2023 1,533      1,533 
Additions   11,417    11,417 
Disposals    
At 30 September 2024 1,533    11,417    12,950 
Depreciation
At 01 October 2023 735      735 
Charge for year 307    2,283    2,590 
On disposals    
At 30 September 2024 1,042    2,283    3,325 
Net book values
Closing balance as at 30 September 2024 491    9,134    9,625 
Opening balance as at 01 October 2023 798      798 


4.

Investments

Cost Other investments other than loans   Total
  £   £
At 01 October 2023 2,613,333    2,613,333 
Additions 172    172 
Transfer to/from tangible fixed assets  
Disposals (145,387)   (145,387)
Revaluations 452,054    452,054 
At 30 September 2024 2,920,172    2,920,172 

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 73,884    62,302 
Prepayments & Accrued Income   7,500 
Other Debtors 154,501    50,000 
228,385    119,802 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 15,617    18,765 
Bank Loans & Overdrafts (Secured) 3,453    3,353 
PAYE & Social Security 2,655    781 
Accrued Expenses   (5,000)
Other Creditors 174    23,655 
Wages & Salaries Control Account 2,270   
Director: Mark Wood 8,488    3,000 
32,657    44,554 

7.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts (secured) 2,005,487    1,791,599 
Loans 124,235    316,373 
2,129,722    2,107,972 
Bounce Back Loan
The Bounce Back Loan is denominated in GBP with a nominal interest rate of 2.5%, and the final instalment is due on 11 May 2026. The carrying amount at period end is £20,941 (2023: £24,352).

8.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 266,826    97,649 
266,826    97,649 

9.

Share Capital

Authorised
100 Ordinary shares of £1.00 each
Allotted, called up and fully paid
2024
£
  2023
£
100 Ordinary shares of £1.00 each 100    100 
100    100 

10.

Reserves

2024
£
  2023
£
Revaluation Reserve b/fwd 181,690    181,690 
Transfer to/ from Profit and Loss Account 318,944   
500,634    181,690 

5