Acorah Software Products - Accounts Production 16.5.460 false true true 31 December 2023 1 January 2023 false 1 January 2024 31 December 2024 31 December 2024 02904418 Mr A L Cohen Mrs S Shaikh-Kiayani Mr A L Cohen true iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 02904418 2023-12-31 02904418 2024-12-31 02904418 2024-01-01 2024-12-31 02904418 frs-core:CurrentFinancialInstruments 2024-12-31 02904418 frs-core:ComputerEquipment 2024-12-31 02904418 frs-core:ComputerEquipment 2024-01-01 2024-12-31 02904418 frs-core:ComputerEquipment 2023-12-31 02904418 frs-core:FurnitureFittings 2024-12-31 02904418 frs-core:FurnitureFittings 2024-01-01 2024-12-31 02904418 frs-core:FurnitureFittings 2023-12-31 02904418 frs-core:InvestmentPropertyIncludedWithinPPE 2024-12-31 02904418 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-12-31 02904418 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 02904418 frs-core:LandBuildings frs-core:LeasedAssetsHeldAsLessee 2023-12-31 02904418 frs-core:PlantMachinery 2024-12-31 02904418 frs-core:PlantMachinery 2024-01-01 2024-12-31 02904418 frs-core:PlantMachinery 2023-12-31 02904418 frs-core:SharePremium 2024-12-31 02904418 frs-core:ShareCapital 2024-12-31 02904418 frs-core:RetainedEarningsAccumulatedLosses 2024-12-31 02904418 frs-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 02904418 frs-bus:FilletedAccounts 2024-01-01 2024-12-31 02904418 frs-bus:SmallEntities 2024-01-01 2024-12-31 02904418 frs-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 02904418 frs-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 02904418 1 2024-01-01 2024-12-31 02904418 frs-core:DeferredTaxation 2024-01-01 2024-12-31 02904418 frs-core:DeferredTaxation 2024-12-31 02904418 frs-core:RevaluationInvestmentPropertyDeferredTax 2024-12-31 02904418 frs-core:UnlistedNon-exchangeTraded 2024-12-31 02904418 frs-core:UnlistedNon-exchangeTraded 2023-12-31 02904418 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2023-12-31 02904418 frs-core:CostValuation frs-core:UnlistedNon-exchangeTraded 2024-12-31 02904418 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2023-12-31 02904418 frs-core:ProvisionsForImpairmentInvestments frs-core:UnlistedNon-exchangeTraded 2024-12-31 02904418 frs-bus:Director1 2024-01-01 2024-12-31 02904418 frs-bus:CompanySecretary1 2024-01-01 2024-12-31 02904418 frs-countries:EnglandWales 2024-01-01 2024-12-31 02904418 2022-12-31 02904418 2023-12-31 02904418 2023-01-01 2023-12-31 02904418 frs-core:CurrentFinancialInstruments 2023-12-31 02904418 frs-core:SharePremium 2023-12-31 02904418 frs-core:ShareCapital 2023-12-31 02904418 frs-core:RetainedEarningsAccumulatedLosses 2023-12-31
Registered number: 02904418
Wood Hall Stud Limited
Unaudited Financial Statements
For The Year Ended 31 December 2024
One Bean Limited
Chartered Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—7
Page 1
Balance Sheet
Registered number: 02904418
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 401,037 1,129,877
Investment Properties 5 2,370,000 -
Investments 6 190,274 190,274
2,961,311 1,320,151
CURRENT ASSETS
Stocks 7 227,121 483,575
Debtors 8 298,810 886,433
Cash at bank and in hand 142,984 83,465
668,915 1,453,473
Creditors: Amounts Falling Due Within One Year 9 (9,642,755 ) (9,790,260 )
NET CURRENT ASSETS (LIABILITIES) (8,973,840 ) (8,336,787 )
TOTAL ASSETS LESS CURRENT LIABILITIES (6,012,529 ) (7,016,636 )
PROVISIONS FOR LIABILITIES
Deferred Taxation 10 (418,891 ) -
NET LIABILITIES (6,431,420 ) (7,016,636 )
CAPITAL AND RESERVES
Called up share capital 12 1,118,000 1,118,000
Share premium account 499,300 499,300
Profit and Loss Account (8,048,720 ) (8,633,936 )
SHAREHOLDERS' FUNDS (6,431,420) (7,016,636)
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For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr A L Cohen
Director
29 September 2025
The notes on pages 3 to 7 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Wood Hall Stud Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02904418 . The registered office is Wood Hall Farm Office, Woodhall Lane, Shenley, WD7 9AA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
Although the company has significant net liabilites at the balance sheet date, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the forseeable future based on the continuing support from the parent company and ultimately the director and shareholder. Thus, the director continues to adopt the going concern basis of accouting in preparing the accounting status.
2.3. Turnover
Turnover represents the fair value of consideration received or receivable in respect of the sale of bloodstock, sundry farming activities and property rents due during the accounting period.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.
Biological assets consist solely of breeding mares. The useful lives of these assets are based on the assumption that each mare is estimated to foal nine times between the age of four years and fifteen years. For each year a newly purchased mare is over the age of four, the estimated number of foals is reduced by one. The estimated residual value of each mare is £2,000.
Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 4% reducing balance
Plant & Machinery 25% reducing balance
Fixtures & Fittings 25% reducing balance
Biological Assets As above
2.5. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
2.6. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.7. Financial Instruments
The company only uses basic financial instruments.
Basic financial assets such as debtors and bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the value is measured at the present value of future receipts, discounted at a market rate of interest.
Basic financial liabilities such as trade creditors, bank loans and other loans are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future payments, discounted at a market rate of interest.
Financial assets and liabilities are only offset where there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis.
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2.8. Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.9. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.10. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
2.11. Investments
Investments in unlisted company shares and other businesses where the market value cannot be reliably dtermined are measured at historic cost less impairment.
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3. Average Number of Employees
Average number of employees, including directors, during the year was: 8 (2023: 9)
8 9
4. Tangible Assets
Land & Property
Leasehold Plant & Machinery Fixtures & Fittings Biological Assets Total
£ £ £ £ £
Cost or Valuation
As at 1 January 2024 854,601 1,591,222 168,659 40,000 2,654,482
Additions 180 21,950 3,347 - 25,477
Disposals - (56,121 ) - - (56,121 )
Transfers (694,435 ) - - - (694,435 )
As at 31 December 2024 160,346 1,557,051 172,006 40,000 1,929,403
Depreciation
As at 1 January 2024 70,137 1,300,606 149,640 4,222 1,524,605
Provided during the period 1,505 76,566 5,007 4,222 87,300
Disposals - (49,839 ) - - (49,839 )
Transfers (33,700 ) - - - (33,700 )
As at 31 December 2024 37,942 1,327,333 154,647 8,444 1,528,366
Net Book Value
As at 31 December 2024 122,404 229,718 17,359 31,556 401,037
As at 1 January 2024 784,464 290,616 19,019 35,778 1,129,877
5. Investment Property
2024
£
Fair Value
As at 1 January 2024 -
Transfers 694,435
Depreciation and impairment -
Fair value adjustments 1,675,565
As at 31 December 2024 2,370,000
If investment property had been accounted for under historical cost accounting rules, the amounts would be:
2024 2023
£ £
Cost 694,435 -
Accumulated depreciation and impairment 60,129 -
Carrying amount 634,306 -
The investment properties were valued by the director on a fair value basis in accordance with FRS102(1A).
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6. Investments
Unlisted
£
Cost
As at 1 January 2024 190,274
As at 31 December 2024 190,274
Provision
As at 1 January 2024 -
As at 31 December 2024 -
Net Book Value
As at 31 December 2024 190,274
As at 1 January 2024 190,274
7. Stocks
2024 2023
£ £
Stock 227,121 483,575
8. Debtors
2024 2023
£ £
Due within one year
Trade debtors 83 434,850
Amounts owed by group undertakings 229,734 265,995
Other debtors 68,993 185,588
298,810 886,433
9. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 59,663 131,386
Amounts owed to group undertakings - 36,261
Other creditors 9,577,385 9,610,064
Taxation and social security 5,707 12,549
9,642,755 9,790,260
10. Deferred Taxation
The provision for deferred tax is made up as follows:-
2024 2023
£ £
Revaluation of investment properties 418,891 -
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11. Provisions for Liabilities
Deferred Tax Total
£ £
Additions 418,891 418,891
Balance at 31 December 2024 418,891 418,891
12. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1,118,000 1,118,000
13. Related Party Transactions
Included in other creditors is an interst-free loan from the director for £9,367,287 (2023: £9,349,846) which is repayable on demand.
14. Ultimate Parent Undertaking and Controlling Party
The company's immediate parent undertaking is Wood Hall Investments Ltd, and the ultimate parent undertaking is Wood Hall Securities Ltd , both incorporated in England & Wales. The ultimate controlling party is Mr A L Cohen , who controls 100% of the share capital of Wood Hall Securities Ltd .
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