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Company registration number: 15398631
The Woodshed Guitars Limited
Unaudited filleted financial statements
31 January 2025
The Woodshed Guitars Limited
Contents
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
The Woodshed Guitars Limited
Report to the board of directors on the preparation of the
unaudited statutory financial statements of The Woodshed Guitars Limited
Period ended 31 January 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Woodshed Guitars Limited for the period ended 31 January 2025 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the board of directors of The Woodshed Guitars Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of The Woodshed Guitars Limited and state those matters that we have agreed to state to the board of directors of The Woodshed Guitars Limited as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Woodshed Guitars Limited and its board of directors as a body for our work or for this report.
It is your duty to ensure that The Woodshed Guitars Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The Woodshed Guitars Limited. You consider that The Woodshed Guitars Limited is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the financial statements of The Woodshed Guitars Limited. 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 financial statements.
Parkinson & Partners
ACCA
Mobbs Wood Farm
Brinklow Road
Ansty, Coventry
Warwickshire
CV7 9JN
28 August 2025
The Woodshed Guitars Limited
Statement of financial position
31 January 2025
31/01/25
Note £ £
Current assets
Stocks 12,761
Debtors 4 7,860
Cash at bank and in hand 3,449
_______
24,070
Creditors: amounts falling due
within one year 5 ( 5,786)
_______
Net current assets 18,284
_______
Total assets less current liabilities 18,284
_______
Net assets 18,284
_______
Capital and reserves
Called up share capital 100
Profit and loss account 18,184
_______
Shareholders funds 18,284
_______
For the period ending 31 January 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 financial statements for the period 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.
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 comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 28 August 2025 , and are signed on behalf of the board by:
Mr Bruce Thompson
Director
Company registration number: 15398631
The Woodshed Guitars Limited
Statement of changes in equity
Period ended 31 January 2025
Called up share capital Profit and loss account Total
£ £ £
At 9 January 2024 - - -
Profit for the period 18,184 18,184
_______ _______ _______
Total comprehensive income for the period - 18,184 18,184
Issue of shares 100 100
_______ _______ _______
Total investments by and distributions to owners 100 - 100
_______ _______ _______
At 31 January 2025 100 18,184 18,284
_______ _______ _______
The Woodshed Guitars Limited
Notes to the financial statements
Period ended 31 January 2025
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is Mobbs Wood Farm, Brinklow Road, Ansty, Coventry, Warwickshire, CV7 9JN.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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 pay or recover 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.
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 stocks to their present location and condition.
4. Debtors
31/01/25
£
Other debtors 7,860
_______
5. Creditors: amounts falling due within one year
31/01/25
£
Corporation tax 4,266
Other creditors 1,520
_______
5,786
_______
6. Directors advances, credits and guarantees
During the period the directors entered into the following advances and credits with the company:
Period ended 31/01/25
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
Mr Bruce Thompson - 8,450 ( 4,120) 4,330
Mr Daniel Smith - 7,650 ( 4,120) 3,530
_______ _______ _______ _______
- 16,100 ( 8,240) 7,860
_______ _______ _______ _______
The directors Loans are repayable and no interest is payable on the outstanding loans.