ACCOUNTS - Final Accounts preparation

Registered number: 05865976

WOODNEWTON ASSOCIATES LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

WOODNEWTON ASSOCIATES LIMITED

REGISTERED NUMBER: 05865976

BALANCE SHEET

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£


Current assets
Debtors: amounts falling due within one year	5	40,172		64,611
Cash at bank and in hand	6	58,209		69,533
		98,381		134,144
Creditors: amounts falling due within one year	7	(19,264)		(35,401)
Net current assets			79,117		98,743
Total assets less current liabilities			79,117		98,743

Net assets			79,117		98,743

Capital and reserves
Called up share capital	1,000	1,000
Profit and loss account	78,117	97,743
	79,117	98,743

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WOODNEWTON ASSOCIATES LIMITED

REGISTERED NUMBER: 05865976

BALANCE SHEET (CONTINUED)

AS AT 31 DECEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

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

J W Humphreys

Director

Date: 10 September 2025

The notes on pages 3 to 8 form part of these financial statements.

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WOODNEWTON ASSOCIATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

The company is a private company limited by shares, which is incorporated under the Companies Act 2006 and registered in England (05865976). The address of the registered office is C/O Langtons, The Plaza, 100 Old Hall Street, Liverpool, United Kingdom, L3 9QJ
These financial statements present information about the company as an individual undertaking. It is not a member of a group of companies. The principal activity of the company is that of communications and procurement consultancy services.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

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WOODNEWTON ASSOCIATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the Company in independently administered funds.

2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

2.7

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures and fittings

33%

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 profit or loss.

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WOODNEWTON ASSOCIATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Employees

The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

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WOODNEWTON ASSOCIATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

4.	Tangible fixed assets

		Fixtures and fittings
		£
	Cost or valuation
	At 1 January 2024	325
	At 31 December 2024	325
	Depreciation
	At 1 January 2024	325
	At 31 December 2024	325
	Net book value
	At 31 December 2024	-
	At 31 December 2023	-

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WOODNEWTON ASSOCIATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Debtors

					2024	2023
					£	£


Trade debtors	26,761	59,998
Other debtors	13,411	4,613
	40,172	64,611

6.	Cash and cash equivalents
		2024	2023
		£	£

Cash at bank and in hand	58,209	69,533
	58,209	69,533

7.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Trade creditors	520	-
Corporation tax	-	9,128
Other taxation and social security	2,261	9,826
Other creditors	15,433	15,432
Accruals and deferred income	1,050	1,015
	19,264	35,401

Related party transactions

During the year the company incurred costs amounting to £34,500 (2023: £67,000) from Indie Books Limited, a connected company.
Included in debtors is an amount of £4,613 (2023: £4,613) owed from Indie Books Limited, a connected company. The loan is repayable on demand and no interest has been charged.
Included in creditors is a amount of £6,392 (2023: £6,392) owed to R Price, a director. The loan is repayable on demand and no interest has been charged.
Included in creditors is a amount of £9,041 (2023: £9,041) owed to J Humphreys, a director. The loan is repayable on demand and no interest has been charged.

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WOODNEWTON ASSOCIATES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

9.	Controlling party

The company is under the control of its directors.

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