REGISTERED NUMBER: 00262559 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

A.D.WOODLEY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Directors:

Mrs A M Hodgson

Mrs M R Wear

J C Woodley

Miss L J Woodley

Registered office:

Northfields Farm

Stretton on Fosse

Moreton in Marsh

Gloucestershire

GL56 9RE

Registered number:

00262559 (England and Wales)

Accountants:

Cooper Parry Advisory Limited

New Derwent House

69-73 Theobalds Road

London

WC1X 8TA

Fixed assets

Tangible assets

4

-

-

Investments

5

1

1

1

1

Current assets

Cash at bank

236,763

236,078

Creditors

Amounts falling due within one year

6

198,230

195,472

Net current assets

38,533

40,606

Total assets less current liabilities

38,534

40,607

Capital and reserves

Called up share capital

7

100

100

Retained earnings

8

38,434

40,507

Shareholders' funds

38,534

40,607

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 18 September 2025 and were signed on its behalf by:

Miss L J Woodley - Director

1.	Statutory information

A.D.Woodley Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The financial statements are presented in Sterling, which is the functional currency of the company, rounded to the nearest £1.

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

Going concern

The directors have made an assessment of the company's ability to continue as a going concern and have identified no material uncertainties that may cast a significant doubt on the ability of the company to continue as a going concern in the foreseeable future.

3.	Employees and directors

The average number of employees during the year was NIL (2023 - NIL).

4.	Tangible fixed assets

Plant and

machinery

etc

£

Cost

At 1 January 2024

and 31 December 2024

731

Depreciation

At 1 January 2024

and 31 December 2024

731

Net book value

At 31 December 2024

-

5.	Fixed asset investments

Other

investments

£

Cost

At 1 January 2024

and 31 December 2024

1

Net book value

At 31 December 2024

1

At 31 December 2023

1

6.

Creditors: amounts falling due within one year

2024

2023

£

£

Other creditors

198,230

195,472

7.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

10,000

Ordinary

£0.01

100

100

8.

Reserves

Retained

earnings

£

At 1 January 2024

40,507

Deficit for the year

(2,073

)

At 31 December 2024

38,434

9.	Ultimate controlling party

No one has overall control of the company.

10.	Film partnerships - year ended 31/12/2009

HMRC issued an Advance Payment Notice (APN) on 1 December 2017 which showed an amount due of £1,539,942. This does not take into account the sum of £1,000,000 which was paid in October 2014 in respect of the film partnership losses, nor the extra rollover relief due for 2009.

The rollover relief claim was agreed on 18 May 2020, and this gave rise to an overpayment of £206,550.

The amount payable under the APN has been covered by the overpayment of £206,550, the payment of £1,000,000 and the sum of £333,392 paid on 9 March 2018.

Representations have been made against the amount shown on the APN. These have been considered by HMRC. As a result, the amount due under the APN was reduced on 7 February 2022 to £1,256,395.

A case involving film partnerships was heard before the Upper Tier Tribunal in July 2019; the result of that case, if applied to the company's situation, would be that none of the claimed losses would be allowable. The taxpayers in that case appealed to the Court of Appeal. The Court of Appeal found that the partnerships were trading with a view to a profit, but the losses would be much reduced. The decision is now final.

However, there are still some unresolved issues, including the treatment of the film production costs for corporation tax purposes. No agreement has been reached with HMRC, and this will need to be considered by the First Tier Tribunal.

Despite the reduction in the amount of the APN, the directors consider that the whole of the tax paid would not be recoverable, so they have provided for this and the interest due on the payment.