REGISTERED NUMBER: 06964823 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Woodgavil Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

W M Morris

D M Pay

REGISTERED OFFICE:

Unit 5, Woodcote Mews Chequers Lane

Walton On The Hill

Tadworth

KT20 7ST

REGISTERED NUMBER:

06964823 (England and Wales)

FIXED ASSETS

Tangible assets

4

1,496

2,056

Investments

5

100

100

Investment property

6

8,707,218

8,197,218

8,708,814

8,199,374

CURRENT ASSETS

Work in progress

7

222,316

78,759

Debtors

8

17,340,847

17,497,502

Cash at bank

19,394

55,023

17,582,557

17,631,284

CREDITORS

Amounts falling due within one year

9

11,511,338

11,732,751

NET CURRENT ASSETS

6,071,219

5,898,533

TOTAL ASSETS LESS CURRENT LIABILITIES

14,780,033

14,097,907

CREDITORS

Amounts falling due after more than one year

10

1,276,285

1,148,785

NET ASSETS

13,503,748

12,949,122

CAPITAL AND RESERVES

Called up share capital

889,704

889,704

Share premium

11

7,795,211

7,795,211

Retained earnings

11

4,818,833

4,264,207

SHAREHOLDERS' FUNDS

13,503,748

12,949,122

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

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

The directors acknowledge their 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 Board of Directors and authorised for issue on 23 September 2025 and were signed on its behalf by:

W M Morris - Director

1.	STATUTORY INFORMATION

Woodgavil 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.

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 and management fees receivable during the year. Rent free periods are accounted for in accordance with FRS 102, 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

All fixed assets are initially recorded at cost.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% 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 3 (2023 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Office

machinery

Equipment

Totals

£

£

£

COST

At 1 January 2024

18,411

1,407

19,818

Disposals

(3,477

)

(1,407

)

(4,884

)

At 31 December 2024

14,934

-

14,934

DEPRECIATION

At 1 January 2024

16,355

1,407

17,762

Charge for year

498

-

498

Eliminated on disposal

(3,415

)

(1,407

)

(4,822

)

At 31 December 2024

13,438

-

13,438

NET BOOK VALUE

At 31 December 2024

1,496

-

1,496

At 31 December 2023

2,056

-

2,056

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2024

and 31 December 2024

100

NET BOOK VALUE

At 31 December 2024

100

At 31 December 2023

100

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

Charter Court(New Malden) Ltd

Registered office:

Nature of business: Letting of residential properties

%

Class of shares:

holding

Ordinary

100.00

31.12.24

31.12.23

£

£

Aggregate capital and reserves

(1,038,441

)

256,828

Loss for the year

(1,295,169

)

(461,382

)

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

8,197,218

Revaluations

510,000

At 31 December 2024

8,707,218

NET BOOK VALUE

At 31 December 2024

8,707,218

At 31 December 2023

8,197,218

The investment properties were revalued on fair value basis by Martin Morris at 31st December 2024 at £8,707,218 (2023 - £8,197,218). The historical cost of these properties was £3,872,879. The valuation is based on the property market conditions prevailing at the various revaluation dates.

The company has also provided securities on a few of its properties, 40 Penrith Road, New Malden, KT3 3QS; 60, 62 and 64 Acacia Grove, New Malden, KT3 3BU in favour of the Morris Family Pension Scheme.

Fair value at 31 December 2024 is represented by:

£

Valuation in 2014

3,064,327

Valuation in 2015

607,189

Valuation in 2016

311,658

Valuation in 2017

359,164

Valuation in 2019

(200,000

)

Valuation in 2020

5,000

Valuation in 2021

201,776

Valuation in 2022

(31,900

)

Valuation in 2023

7,125

Valuation in 2024

510,000

Cost

3,872,879

8,707,218

7.	WORK IN PROGRESS

31.12.24

31.12.23

£

£

Work-in-progress

222,316

78,759

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

4,545

5,375

Amounts owed by group undertakings

12,088,838

12,135,864

Amounts owed by related

parties

5,244,548

5,331,164

VAT

-

3,789

Prepayments

2,916

21,310

17,340,847

17,497,502

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

(18,731

)

3,292

Amounts owed to group undertakings

9,660,672

9,495,042

Corporation tax

57,959

36,537

Social security and other taxes

994

4,155

VAT

10

-

Other creditors

22,582

-

Amounts owed to related parties

1,783,427

2,184,725

Accruals and deferred income

4,425

9,000

11,511,338

11,732,751

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Deferred tax

1,276,285

1,148,785

The company has provided a fixed and floating charge on the freehold land situated 40 Penrith Road, New Malden, KT3 3QS to the trustees of the Morris Family Pension Scheme.

11.

RESERVES

Retained

Share

earnings

premium

Totals

£

£

£

At 1 January 2024

4,264,207

7,795,211

12,059,418

Profit for the year

554,626

554,626

At 31 December 2024

4,818,833

7,795,211

12,614,044

12.	RELATED PARTY DISCLOSURES

The company is a joint and equal guarantor with Woodgavil Estates Limited for Woodgavil Properties Ltd and Exe Valley (Investments) Limited. In the event of default by both Woodgavil Properties Ltd and Exe Valley (Investments) Limited, the company is equally responsible to meet any debts as they fall due.

Woodgavil Ltd has received a loan of £200,000 from Woodgavil Properties Ltd for a three year term ending on 23 September 2027. The term may be extended at the discretion of Woodgavil Properties Ltd's directors. The loan is interest free but if not repaid by the end of the term, interest will apply at the Bank of England base rate plus 5%.