Woodgavil Properties Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 00542415 (England and Wales)

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

WOODGAVIL PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

W M Morris

M Robinson

REGISTERED OFFICE:

Unit 5, Woodcote Mews

Chequers Lane

Walton on the Hill

Tadworth

Surrey

KT20 7ST

REGISTERED NUMBER:

00542415 (England and Wales)

AUDITORS:

Brooks & Co.

Chartered Accountants & Statutory Auditors

9 Cheam Road

Ewell

Epsom

Surrey

KT17 1SP

FIXED ASSETS

Investments

4

17,778,574

Investment property

5

7,515,000

8,280,116

25,293,574

26,058,690

CURRENT ASSETS

Debtors

6

12,092,266

11,706,890

Cash at bank

226,182

287,739

12,318,448

11,994,629

CREDITORS

Amounts falling due within one year

7

8,161,482

8,046,967

NET CURRENT ASSETS

4,156,966

3,947,662

TOTAL ASSETS LESS CURRENT
LIABILITIES

29,450,540

30,006,352

CREDITORS

Amounts falling due after more than one
year

8

916,139

1,107,418

NET ASSETS

28,534,401

28,898,934

CAPITAL AND RESERVES

Called up share capital

9

25,058

Capital redemption reserve

10

13,120

Reorganisation reserve

10

14,104,319

Retained earnings

10

14,391,904

14,756,437

SHAREHOLDERS' FUNDS

28,534,401

28,898,934

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 18th September 2025 and were signed on its behalf by:

W M Morris - Director

1.	STATUTORY INFORMATION

Woodgavil Properties 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.

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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Going concern

The directors have adopted the going concern basis in preparing these financial statements after assessing the financial forecasts of the Company.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1st January 2024

and 31st December 2024

17,778,574

NET BOOK VALUE

At 31st December 2024

17,778,574

At 31st December 2023

17,778,574

The company owns 100% of the issued ordinary share capital of the companies listed below.

2024

2023

£

Aggregate capital and reserves

Woodgavil Ltd

13,503,748

12,949,122

Woodgavil Estates Ltd

18,871,568

18,112,446

Exe Valley Investments Ltd

541,502

Profit and (loss) for the year

Woodgavil Ltd

554,626

(152,990

)

Woodgavil Estates Ltd

642,607

651,151

Exe Valley Investments Ltd

-

66

Under the provision of section 398 of the Companies Act 2006 the company is exempt from preparing consolidated accounts and has not done so, therefore the accounts show information about the company as an individual entity.

Investment in Non-subsidiaries

Investments in Indirect Subsidiaries - 100% Holding

2024

2023

£

Aggregate capital and reserves

Charter Court (New Malden) Ltd

(1,038,341

)

256,828

Profit and (loss) for the year

Charter Court (New Malden) Ltd

(1,295,169

)

(461,382

)

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st January 2024

8,280,116

Revaluations

(765,116

)

At 31st December 2024

7,515,000

NET BOOK VALUE

At 31st December 2024

7,515,000

At 31st December 2023

8,280,116

The investment properties were revalued on fair value basis by Martin Morris, advisory chairman of the company as at 31st December 2024, at £7,515,000 (2023 - £8,280,116). The historical cost of these properties was £3,165,000. The valuation is based on the property market conditions prevailing at the various revaluation dates.

Fair value at 31st December 2024 is represented by:

£

Valuation in 2021

3,402,000

Valuation in 2022

1,698,116

Valuation in 2023

15,000

Valuation in 2024

(765,116

)

Cost

3,165,000

7,515,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

14,490

13,325

Amounts owed by group undertakings

11,882,430

11,526,668

Other debtors

131,350

105,296

Amounts owed by related parties

61,087

60,730

Prepayments

2,909

871

12,092,266

11,706,890

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade creditors

7,748

4,638

Amounts owed to group undertakings

483,001

Tax

69,958

69,394

Other creditors

3,883,650

4,309,722

Amounts owed to related parties

3,637,034

3,166,014

Accruals and deferred income

80,091

14,198

8,161,482

8,046,967

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR

2024

2023

£

Deferred tax

916,139

1,107,418

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

160

Ordinary

1

160

12,449

M Class

1

12,449

P Class

1

12,449

25,058

10.

RESERVES

Capital

Retained

redemption

Reorganisation

earnings

reserve

Totals

£

At 1st January 2024

14,756,437

13,120

14,104,319

28,873,876

Deficit for the year

(364,533

)

(364,533

)

At 31st December 2024

14,391,904

13,120

14,104,319

28,509,343

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Sundareswary Araniyasundaran (Senior Statutory Auditor)

for and on behalf of Brooks & Co.

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st December 2024 and 31st December 2023:

2024

2023

£

P E Morris and M J Morris

Balance outstanding at start of year

20,916

Amounts repaid

(20,916

)

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

-

20,916

M J Morris

Balance outstanding at start of year

(4,319,775

)

(6,034,343

)

Amounts advanced

4,319,775

1,714,568

Amounts repaid

-

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

-

(4,319,775

)

13.	RELATED PARTY DISCLOSURES

The company was under the joint control of Mr W Morris & Mr P Morris during the year. Mr W Morris & Mr P Morris each controlled 50% of the company. Mr W Morris exercised control by virtue of his direct holding of 100% of the "M" shares in issue and his direct holding of 50% of the Ordinary A shares in the company. Mr P Morris exercised his control by virtue of his direct holding of 11,824 (94.98%) of the "P" shares in issue, his direct holding of 47.5% of the Ordinary A shares in the company, his indirect holding of 625 (5.02%) of the "P" shares in issue and his indirect holding of 2.5% of the Ordinary A shares in the company.

The company paid £45,319 in commission to We Are Lettings Ltd., a company 100% owned by W M Morris, a director of Woodgavil Properties Limited. These transactions were conducted on normal commercial terms.

The company also paid £64,710 in maintenance costs to Woodcote Estates Ltd, a company 100% owned by W M Morris, a director of Woodgavil Properties Limited. These transactions were conducted on normal commercial terms.

The company is liable to pay annual management fees to Woodgavil Ltd & Woodgavil Estates Ltd. During the year £35,565 (2023 - £34,415) was paid to Woodgavil Ltd and £9,867 (2023 - £9,548) was paid to Woodgavil Estates Ltd. Both of these companies are subsidiaries.

Two of the company's subsidiaries, Woodgavil Ltd & Woodgavil Estates Ltd are joint and equal guarantors for Woodgavil Properties Ltd. If at any time the company has insufficient funds to pay its debts as they fall due, both Woodgavil Ltd and Woodgavil Estates Ltd are obliged to immediately pay to the company (as appropriate) in equal proportions a sufficient amount to enable debts to be paid.

The balances owing from (to) subsidiary undertakings at the year-end are shown below:

2024

2023

£

Woodgavil Ltd

9,660,672

9,495,042

Woodgavil Estates Ltd

2,221,759

2,031,626

Exe Valley Investments Ltd

(483,001

)

(483,001

)

11,399,430

11,043,667