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for the year ended 31 December 2024
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Registered number: 07462930
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Woodridings Limited - Registered number: 07462930
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Statement of financial position
As at 31 December 2024
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Debtors: amounts falling due after more than one year
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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Provisions for liabilities
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Page 1
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Woodridings Limited - Registered number: 07462930
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Statement of financial position (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 on 4 September 2025.
The notes on pages 3 to 8 form part of these financial statements.
Page 2
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Notes to the financial statements
For the year ended 31 December 2024
Woodridings Limited is a private company limited by shares and was incorporated in England and Wales, registration number 07462930. The registered office is 130 Wood Street, London, EC2V 6DL.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, ('FRS 102') and the Companies Act 2006.
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 accounting policies.
The following principal accounting policies have been applied:
The director has assessed the company's ability to continue to adopt the going concern basis of accounting
and consider this an appropriate basis upon which to prepare the financial statements, having considered a
period of at least 12 months from the date of signing the accounts.
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Foreign currency translation
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Functional and presentation currency
The company's functional and presentational currency is GBP.
Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'Foreign Exchange Gain/Loss'. All other foreign exchange gains and losses are presented in profit or loss within 'Foreign Exchange Gain/Loss'.
Turnover includes realised gains from unlisted investments and income arising from investment property.
Interest income is recognised in profit or loss using the effective interest method.
Page 3
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Notes to the financial statements
For the year ended 31 December 2024
2.Accounting policies (continued)
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.
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Current and deferred taxation
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The tax expense for the year comprises current and deferred tax. 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 reporting date in the countries where the company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting, except that:
∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Investment property is carried at fair value determined annually, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of income and retained earnings. Where a fair value cannot be obtained, the historic cost method is used.
Unlisted investments are investments in unlisted funds whose market value can be reliably determined, are remeasured to market value at each reporting date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings. If the investments are held in a different currency to the reporting currency, any foreign exchange gains and losses are recognised in the Statement of income and retained earnings.
Other fixed asset investments are investments in unlisted companies which are measured at fair value. Where there is no observable market price of the shares, the fair value of the shares are measured at each reporting date using the judgement of the director. If the investments are held in a different currency to the reporting currency, any foreign exchange gains and losses are recognised in the Statement of income and retained earnings.
Page 4
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Notes to the financial statements
For the year ended 31 December 2024
2.Accounting policies (continued)
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.
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Cash and cash equivalents
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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.
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.
The company only enters into basic financial instrument transactions that result in the recognition of financial
assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties,
loans to related parties and investments in ordinary shares.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting
period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss
is recognised in the Statement of income and retained earnings.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference
between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation
of the amount that the company would receive for the asset if it were to be sold at the reporting date.
Page 5
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Notes to the financial statements
For the year ended 31 December 2024
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The average monthly number of employees, including directors, during the year was 1 (2023 - 1).
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Other fixed asset investments
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Freehold investment property
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The 2024 valuations were made by an external qualified surveyor as at 23 March 2023, on an open market value for existing use basis.
Page 6
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Notes to the financial statements
For the year ended 31 December 2024
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Due after more than one year
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Prepayments and accrued income
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Prepayments and accrued income
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Cash and cash equivalents
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Creditors: Amounts falling due within one year
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Accruals and deferred income
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Page 7
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Notes to the financial statements
For the year ended 31 December 2024
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Charged to profit or loss
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The provision for deferred taxation is made up as follows:
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Fixed asset timing differences
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Related party transactions
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During the year, the company repaid funds to the directors during the year totalling £319,080 (2023 - £1,196,397).
As at 31 December 2024, £2,117,735 (2023 - £2,436,816) was due to the directors. The amounts due to the directors is included within Other Creditors.
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Page 8
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