Woodhart Carpentry Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 06015400

WOODHART CARPENTRY LTD

FILLETED UNAUDITED FINANCIAL STATEMENTS

31 March 2025

WOODHART CARPENTRY LTD

STATEMENT OF FINANCIAL POSITION

31 March 2025

	2025		2024
			(restated)
Note	£	£	£

Fixed assets

Tangible assets	5		441,323	401,692

Current assets

Debtors	6	3,764,867	2,547,023
Cash at bank and in hand		336,653	292,664
		-------------	-------------
		4,101,520	2,839,687

Creditors: amounts falling due within one year	7	2,208,207		1,221,476
		-------------		-------------
Net current assets			1,893,313	1,618,211
			-------------	-------------
Total assets less current liabilities			2,334,636	2,019,903

Creditors: amounts falling due after more than one year	8		150,849	524,815

Provisions	59,356	42,525
	-------------	-------------
Net assets	2,124,431	1,452,563
	-------------	-------------

Capital and reserves

Called up share capital		4	4
Profit and loss account	9	2,124,427	1,452,559
		-------------	-------------
Shareholders funds		2,124,431	1,452,563
		-------------	-------------

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 income and retained earnings has not been delivered.

For the year ending 31 March 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 year 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 .

WOODHART CARPENTRY LTD

STATEMENT OF FINANCIAL POSITION (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 5 September 2025 , and are signed on behalf of the board by:

B Woodhart	M Woodhart
Director	Director

Company registration number: 06015400

WOODHART CARPENTRY LTD

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Woodhart House, Unit 4 Carlton Terrace, Portslade, Brighton, BN41 1XF.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the 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.

Going concern

No material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors. The directors consider that the uncertainty caused in the company's industry as a result of Coronavirus and the recovery from the restrictions put in place by the government should not affect the company's ability to continue as a going concern. This assumption has been continued as the economy is hit by the cost of living crisis, and world economic impact of the war in Ukraine.

Revenue recognition

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.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, 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.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	25% straight line
Motor vehicles	-	25% reducing balance
Equipment	-	25 % reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 24 (2024: 28 ).

5. Tangible assets

	Freehold property	Plant and machinery	Motor vehicles	Equipment	Total
	£	£	£	£	£
Cost
At 1 April 2024 (as restated)	350,000	18,808	206,778	48,703	624,289
Additions	–	–	28,495	–	28,495
Disposals	–	–	( 19,160)	–	( 19,160)
Transfers	–	–	84,387	(21,225)	63,162
	----------	---------	----------	---------	----------
At 31 March 2025	350,000	18,808	300,500	27,478	696,786
	----------	---------	----------	---------	----------
Depreciation
At 1 April 2024	–	18,808	158,845	44,944	222,597
Charge for the year	–	–	12,519	1,454	13,973
Disposals	–	–	( 17,643)	–	( 17,643)
Transfers	–	–	60,973	(24,437)	36,536
	----------	---------	----------	---------	----------
At 31 March 2025	–	18,808	214,694	21,961	255,463
	----------	---------	----------	---------	----------
Carrying amount
At 31 March 2025	350,000	–	85,806	5,517	441,323
	----------	---------	----------	---------	----------
At 31 March 2024	350,000	–	47,933	3,759	401,692
	----------	---------	----------	---------	----------

6. Debtors

	2025	2024
		(restated)
	£	£
Trade debtors	70,996	( 5,807)
Amounts owed by group undertakings and undertakings in which the company has a participating interest	1,850,704	1,930,192
Other debtors	1,843,167	622,638
	-------------	-------------
	3,764,867	2,547,023
	-------------	-------------

7. Creditors: amounts falling due within one year

	2025	2024
		(restated)
	£	£
Bank loans and overdrafts	139,214	224,150
Trade creditors	353,309	420,342
Corporation tax	395,971	115,942
Social security and other taxes	42,620	448
Other creditors	1,277,093	460,594
	-------------	-------------
	2,208,207	1,221,476
	-------------	-------------

8. Creditors: amounts falling due after more than one year

	2025	2024
		(restated)
	£	£
Bank loans and overdrafts	150,849	524,815
	----------	----------

9. Reserves

Profit and loss account : This reserve records retained earnings and accumulated losses (distributable), together with investment property revaluations and associated deferred tax (non-distributable). At 31 March 2025 the profit and loss account balance of £2,424,427(2024: £1,452,559) represents distributable reserves of £2,314,850(2024: £1,342,982) and non distributable reserves of £109,577(2024 £109,577).

10. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2025
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
B Woodhart	( 93,026)	7,130	( 85,896)
M Woodhart	( 105,685)	19,117	( 86,568)
	----------	---------	----------
	( 198,711)	26,247	( 172,464)
	----------	---------	----------

	2024
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
B Woodhart	( 132,535)	39,509	( 93,026)
M Woodhart	( 146,334)	40,649	( 105,685)
	----------	---------	----------
	( 278,869)	80,158	( 198,711)
	----------	---------	----------

11. Related party transactions

At 31st March 2025 the company was owed: £543,902 (2024: £787,649) by Woodhart Construction Limited. £1,306,385 (2024: £1,142,543) by Woodhart Group Limited. £417 (2024: Nil) by Woodhart Lofts & Conversions Limited. Woodhart Construction Limited, Woodhart Lofts and Conversions Limited, and Woodhart Carpentry Limited are all 100% wholly owned subsidiaries of Woodhart Group Limited.

12. Controlling party

The company is a 100% wholly owned subsidiary of Woodhart Group Limited,a company incorporated in England & wales. Woodhart Group Limited is controlled by Mr B Woodhart and Mr M Woodhart by virtue of their shareholdings.