Woodman Motor Company Limited - Filleted accounts

Registered number

06453796

Woodman Motor Company Limited

Report and Accounts

31 December 2024

Woodman Motor Company Limited
Registered number:		06453796
Balance Sheet
as at 31 December 2024

Notes			2024			2023
£				£
Fixed assets
Tangible assets	3		99,278			61,785

Current assets
Stocks		190,661			204,973
Debtors	4	30,491			17,816
Cash at bank and in hand		4,074			3,044
		225,226			225,833

Creditors: amounts falling due within one year	5	(96,924)			(89,963)

Net current assets			128,302			135,870

Total assets less current liabilities			227,580			197,655

Creditors: amounts falling due after more than one year	6		(39,680)			(14,953)



Net assets			187,900			182,702

Capital and reserves
Called up share capital			106			106
Share premium			6,220			6,220
Capital redemption reserve	7		175,185			175,185
Profit and loss account			6,389			1,191

Shareholders' funds			187,900			182,702

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 A Woodman
Director
Approved by the board on 18 September 2025

Woodman Motor Company 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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.

	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:

	Freehold property			2% straight line
	Leasehold land and buildings			over the lease term
	Office equipment			20% - 25% reducing balance
	Motor vehicles			25% reducing balance

	Stocks
	Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.

	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.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Leasing comittments
	Operating lease payments are recognised as an expense on a straight line basis over the lease term.


2	Employees					2024		2023
Number							Number

	Average number of persons employed by the company					3		3


3	Tangible fixed assets
		Freehold property		Office Equipment		Motor vehicles		Total
£			£		£		£
	Cost
	At 1 January 2024	57,689		28,565		52,581		138,835
	Additions	-		-		48,973		48,973
	Disposals	-		-		(41,814)		(41,814)
	At 31 December 2024	57,689		28,565		59,740		145,994

	Depreciation
	At 1 January 2024	11,876		22,355		42,819		77,050
	Charge for the year	1,154		1,516		1,678		4,348
	On disposals	-		-		(34,682)		(34,682)
	At 31 December 2024	13,030		23,871		9,815		46,716

	Net book value
	At 31 December 2024	44,659		4,694		49,925		99,278
	At 31 December 2023	45,813		6,210		9,762		61,785




4	Debtors					2024		2023
£							£

	Amounts owed by related undertakings					21,392		10,692
	Other debtors					9,099		7,124
						30,491		17,816


5	Creditors: amounts falling due within one year					2024		2023
£							£

	Bank loan and overdraft					37,032		45,258
	Obligations under finance lease and hire purchase contracts					11,685		-
	Trade creditors					18,718		5,367
	Corporation tax					2,323		2,803
	Other taxes and social security costs					58		1,484
	Other creditors					27,108		35,051
						96,924		89,963


6	Creditors: amounts falling due after one year					2024		2023
£							£

	Bank loan					4,626		14,953
	Obligations under finance lease and hire purchase contracts					35,054		-
						39,680		14,953


7	Capital redemption reserve					2024		2023
£							£

	At 1 January 2024					175,185		175,185

	At 31 December 2024					175,185		175,185


8	Related party transactions

	At 31 December 2024 the company owed £191 (2023: £24,309) to Mr A Woodman , a company director. The movement during the year relates to net payments of £24,118. During the year dividends of £6000 (2023: £1,000) was paid to Mr A Woodman.


9	Controlling party

	The company was under the control of its director, who owned the majority of the issued ordinary share capital, throughout the whole of the current and prior year.


10	Other information

	Woodman Motor Company Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Mariners Lodge
	80 Victory Boulevard
	Lytham St Annes
	Lancashire
	FY8 5TH