Woodland Inns Limited
Registered number: 03886922
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 31,956 60,206
Current assets
Stocks 23,638 27,342
Debtors 4 40,271 90,126
Cash at bank and in hand 514,487 448,057
578,396 565,525
Creditors: amounts falling due within one year 5 (273,426) (257,407)
Net current assets 304,970 308,118
Total assets less current liabilities 336,926 368,324
Creditors: amounts falling due after more than one year 6 (10,758) (20,758)
Provisions for liabilities (4,588) (3,451)
Net assets 321,580 344,115
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 320,580 343,115
Shareholders' funds 321,580 344,115
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr. T. A. Shortall
Director
Approved by the board on 24 July 2025
Woodland Inns Limited
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover represents the value, net of value added tax and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% straight line
Motor Vehicles 25% straight line
Leasehold buildings over the period of the lease
Stocks
Stock is valued at the lower of cost and net realisable value.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
The company contributes to individual personal pension arrangements.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 55 66
3 Tangible fixed assets
Leasehold buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2024 1,238,623 378,831 15,000 1,632,454
Additions - 19,058 - 19,058
At 31 December 2024 1,238,623 397,889 - 1,636,512
Depreciation
At 1 January 2024 1,207,100 350,148 15,000 1,572,248
Charge for the year 31,523 15,785 - 47,308
At 31 December 2024 1,238,623 365,933 - 1,604,556
Net book value
At 31 December 2024 - 31,956 - 31,956
At 31 December 2023 31,523 28,683 - 60,206
Leasehold buildings: 2024 2023
£ £
Historical cost 839,983 839,983
Cumulative depreciation based on historical cost 839,983 808,460
- 31,523
Leasehold land and buildings were valued at open market value, as a trading entity, on 5 August 2004 by an independent professional valuer.
4 Debtors 2024 2023
£ £
Trade debtors 7,818 49,183
Other debtors 32,453 40,943
40,271 90,126
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 50,334 49,417
Other taxes and social security costs 178,574 165,225
Other creditors 34,518 32,765
273,426 257,407
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 10,758 20,758
7 Share capital Nominal 2024 2024 2023
Value Number £ £
Allotted, called up and fully paid: Ordinary shares £1 each 1,000 1,000 1,000
8 Related party transactions
The company had the following transactions with related parties during the period:
A) Rent of £150,000 (2023: £150,000) paid to Lextor Limited, a company registered in the Isle of Man. The directors have a beneficial interest in this company and rent has been charged at open market value.
9 Controlling party
The company is under the control of the directors.
10 Other information
Woodland Inns Limited is a private company limited by shares and incorporated in England. Its registered office is:
The Gate,
Barnet Road,
Barnet,
Hertfordshire,
EN5 3LA.
Its place of business is at the following address:
The Gate,
Barnet Road,
Barnet,
Hertfordshire EN5 3LA.
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