REGISTERED NUMBER: 04716715 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

WOODCOTE ESTATES LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

W M Morris

REGISTERED OFFICE:

Unit 5 Woodcote Mews

Chequers Lane

Walton on the Hill

Tadworth

Surrey

KT20 7ST

REGISTERED NUMBER:

04716715 (England and Wales)

ACCOUNTANTS:

Brooks & Co

Chartered Accountants & Statutory Auditors

9 Cheam Road

Ewell

Epsom

KT17 1SP

FIXED ASSETS

Tangible assets

4

131,667

163,124

Investments

5

855,100

855,100

Investment property

6

34,262,000

31,827,196

35,248,767

32,845,420

CURRENT ASSETS

Work in progress

1,374,437

865,935

Debtors

7

9,676,529

10,176,362

Cash at bank

94,329

128,195

11,145,295

11,170,492

CREDITORS

Amounts falling due within one year

8

24,391,218

9,670,321

NET CURRENT (LIABILITIES)/ASSETS

(13,245,923

)

1,500,171

TOTAL ASSETS LESS CURRENT LIABILITIES

22,002,844

34,345,591

CREDITORS

Amounts falling due after more than one year

9

3,902,012

16,657,579

NET ASSETS

18,100,832

17,688,012

CAPITAL AND RESERVES

Called up share capital

11

3,728

3,728

Share premium

12

4,046,777

4,046,777

Capital redemption reserve

12

6,576

6,576

Retained earnings

12

14,043,751

13,630,931

SHAREHOLDERS' FUNDS

18,100,832

17,688,012

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

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

The director acknowledges his 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 director and authorised for issue on 17th September 2025 and were signed by:

W M Morris - Director

1.	STATUTORY INFORMATION

Woodcote Estates Ltd 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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Turnover

Turnover represents rents receivable, exclusive of value added tax and lease extension premiums during the year, turnover is recognised at the point when rent becomes payable which is normally at the end of each calendar month.

Investment policy

Investment in subsidiary undertakings are stated at cost less impairment.

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

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Office Equipment

-

25% on reducing balance

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.

Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing work in progress to their present location and condition.

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 statement of financial position date.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Consolidation

In the opinion of the Directors, the company and its subsidiary undertakings comprise a small group. The company has therefore taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare group accounts.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Office

machinery

vehicles

Equipment

Totals

£

£

£

£

COST

At 1st January 2024

1,328,232

72,858

28,747

1,429,837

Additions

986

-

4,286

5,272

Disposals

(81,340

)

-

(5,074

)

(86,414

)

At 31st December 2024

1,247,878

72,858

27,959

1,348,695

DEPRECIATION

At 1st January 2024

1,217,983

25,897

22,833

1,266,713

Charge for year

15,451

11,741

1,991

29,183

Eliminated on disposal

(74,046

)

-

(4,822

)

(78,868

)

At 31st December 2024

1,159,388

37,638

20,002

1,217,028

NET BOOK VALUE

At 31st December 2024

88,490

35,220

7,957

131,667

At 31st December 2023

110,249

46,961

5,914

163,124

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1st January 2024

and 31st December 2024

855,100

NET BOOK VALUE

At 31st December 2024

855,100

At 31st December 2023

855,100

The company's investments at the Statement of Financial Position date in the share capital of companies include the following:

Belendale

Registered office: Unit 5, Woodcote Mews, Chequers Lane, Walton on the Hill, Tadworth KT20 7ST

Nature of business: Letting of residential properties

%

Class of shares:

holding

Ordinary

99.99

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1st January 2024

31,827,196

Additions

663,944

Revaluations

1,770,860

At 31st December 2024

34,262,000

NET BOOK VALUE

At 31st December 2024

34,262,000

At 31st December 2023

31,827,196

The investment properties were revalued on fair value basis by Martin Morris, Advisory Chairman of the company at 31st December 2024 at £34,262,000 (2023 - £31,747,471). The historical cost of these properties was £16,692,009. The valuation is based on the property market conditions prevailing at the various revaluation dates.

The investment properties provided security for a bank loan taken out by Woodcote Estates Ltd.

Fair value at 31st December 2024 is represented by:

£

Valuation in 2014

9,579,927

Valuation in 2016

3,394,322

Valuation in 2017

814,868

Valuation in 2018

501,622

Valuation in 2019

(287,400

)

Valuation in 2020

280,100

Valuation in 2021

2,276,837

Valuation in 2022

(1,009,320

)

Valuation in 2023

248,175

Valuation in 2024

1,770,860

Cost

16,692,009

34,262,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

146,054

38,141

Other debtors

68,032

55,673

Amounts owed by related parties

9,282,067

10,066,337

VAT

48,509

2,892

Prepayments

131,867

13,319

9,676,529

10,176,362

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

10,872,384

-

Trade creditors

93,442

33,384

Amounts owed to group undertakings

566,197

566,231

Tax

-

6

Social security and other taxes

20,594

11,468

Other creditors

30,162

27,962

Amounts owed to related parties

12,530,683

8,733,036

Directors' current accounts

9,222

10,426

Accruals and deferred income

171,432

185,583

Deferred rent

97,102

102,225

24,391,218

9,670,321

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Other loans - 2-5 years

366,147

1,245,673

Bank loans - 2-5 years

-

12,979,999

Deferred tax

3,535,865

2,431,907

3,902,012

16,657,579

10.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

10,870,493

12,979,999

The bank loans are secured on Investment Properties.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

3,728

Ordinary

£1.00

3,728

3,728

12.

RESERVES

Capital

Retained

Share

redemption

earnings

premium

reserve

Totals

£

£

£

£

At 1st January 2024

13,630,931

4,046,777

6,576

17,684,284

Profit for the year

412,820

-

-

412,820

At 31st December 2024

14,043,751

4,046,777

6,576

18,097,104

13.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

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

2024

2023

£

£

W M Morris

Balance outstanding at start of year

(10,426

)

189,512

Amounts repaid

1,204

(199,938

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(9,222

)

(10,426

)

The loan is unsecured, interest free and wholly repayable to the company.

14.	EVENTS AFTER THE END OF THE REPORTING PERIOD

Subsequent to the year ended 31 December 2024, the Company settled its loan with Barclays Bank PLC, which had an outstanding balance of £10,870,493 at the year-end, classified as amounts falling due within one year. The settlement was funded through a new loan facility provided by Investec Bank PLC, drawn on 11 April 2025. This transaction represents a refinancing of the existing debt and does not impact the financial position of the Company as at 31 December 2024.