WOODBANK PROPERTIES LIMITED


Director	SEWELL, Stephen Andrew


Registered Address	6 The Glebe
	Wetheral
	Carlisle
	CA4 8EY


Registered Number	00676373 (England and Wales)

Statement of Financial Position
31 December 2024

	Notes	2024		2023
		£	£	£	£
Fixed assets
Investment property	3		225,000		51,000
			225,000		51,000
Current assets
Cash at bank and on hand		19,898		22,154
		19,898		22,154
Creditors amounts falling due within one year	4	(11,397)		(11,034)
Net current assets (liabilities)			8,501		11,120
Total assets less current liabilities			233,501		62,120
Net assets			233,501		62,120
Capital and reserves
Revaluation reserve			174,000		-
Profit and loss account			59,501		62,120
Shareholders' funds			233,501		62,120

The company was entitled to exemption from audit for this reporting period under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The Director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The directors have chosen to not file a copy of the company’s profit and loss account under section 444 (5A) Companies Act 2006.

The financial statements were approved and authorised for issue by the Director on 3 September 2025, and are signed on its behalf by:

SEWELL, Stephen Andrew
Director
Registered Company No. 00676373

WOODBANK PROPERTIES LIMITED

Notes to the Financial Statements
for the year ended 31 December 2024

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Basis of preparation
	The financial statements have been prepared under the historical cost convention on a going concern basis 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 the Republic of Ireland and the Companies Act 2006.

	Turnover policy
	Rental income from commercial properties is recognised on a straight-line basis over the lease term. Lease incentives are spread over the lease period. Income is recognised when it is probable that economic benefits will flow to the company and the amount can be measured reliably.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement Depreciation is provided on all tangible fixed assets as follows:

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. 

The assets residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposal are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement

Depreciation is provided on all tangible fixed assets as follows:

	Investment property
	Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate. These values are 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 Income Statement.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

2.	Average number of employees


		2024		2023
	Average number of employees during the year	1		1

3.	Investment property
	The 2024 valuations were made by the directors, on an open market value for existing use basis.


		£
	Fair value at 01 January 24	51,000
	Fair value adjustments	174,000
	At 31 December 24	225,000

4.	Creditors: amounts due within one year

	2024	2023
	£	£
Taxation and social security	4,077	4,114
Other creditors	2,514	6,620
Accrued liabilities and deferred income	4,806	300
Total	11,397	11,034