REGISTERED NUMBER: 03863127 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

T G Wood Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr S D Wood

Mrs J Wood

SECRETARY:

Mrs J Wood

REGISTERED OFFICE:

BCL House

2 Pavilion Business Park

Royds Hall Road

Leeds

LS12 6AJ

REGISTERED NUMBER:

03863127 (England and Wales)

ACCOUNTANTS:

SMH BCL Accountants Ltd

2, Pavilion Business Park

Royds Hall Road

Lower Wortley

Leeds

LS12 6AJ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

175,947

90,712

Investments

6

2

2

Investment property

7

972,763

745,537

1,148,712

836,251

CURRENT ASSETS

Debtors

8

348,420

333,292

Cash at bank

514,872

632,010

863,292

965,302

CREDITORS

Amounts falling due within one year

9

195,620

155,426

NET CURRENT ASSETS

667,672

809,876

TOTAL ASSETS LESS CURRENT LIABILITIES

1,816,384

1,646,127

PROVISIONS FOR LIABILITIES

36,191

12,416

NET ASSETS

1,780,193

1,633,711

CAPITAL AND RESERVES

Called up share capital

96

96

Capital redemption reserve

4

4

Retained earnings

1,780,093

1,633,611

SHAREHOLDERS' FUNDS

1,780,193

1,633,711

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 14 February 2025 and were signed on its behalf by:

Mr S D Wood - Director

1.	STATUTORY INFORMATION

T G Wood 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.

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.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2000, is being amortised evenly over its estimated useful life of two years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

Straight line over 3 years

Investments in subsidiaries and associates

Investments in subsidiary and associate undertakings are recognised at cost.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 14 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

1

AMORTISATION

At 1 January 2024

and 31 December 2024

1

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

126,434

13,489

110,360

7,282

257,565

Additions

-

-

105,044

4,103

109,147

At 31 December 2024

126,434

13,489

215,404

11,385

366,712

DEPRECIATION

At 1 January 2024

91,620

3,961

66,833

4,439

166,853

Charge for year

6,963

1,429

13,106

2,414

23,912

At 31 December 2024

98,583

5,390

79,939

6,853

190,765

NET BOOK VALUE

At 31 December 2024

27,851

8,099

135,465

4,532

175,947

At 31 December 2023

34,814

9,528

43,527

2,843

90,712

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 January 2024

29,070

Transfer to ownership

(29,070

)

At 31 December 2024

-

DEPRECIATION

At 1 January 2024

16,459

Transfer to ownership

(16,459

)

At 31 December 2024

-

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

12,611

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2024

and 31 December 2024

2

NET BOOK VALUE

At 31 December 2024

2

At 31 December 2023

2

7.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

745,537

Additions

227,226

At 31 December 2024

972,763

NET BOOK VALUE

At 31 December 2024

972,763

At 31 December 2023

745,537

8.

DEBTORS

2024

2023

£

£

Amounts falling due within one year:

Trade debtors

54,400

52,491

Amounts owed by group undertakings

270,356

263,156

Other debtors

8,129

9,784

332,885

325,431

Amounts falling due after more than one year:

Other debtors

15,535

7,861

Aggregate amounts

348,420

333,292

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Hire purchase contracts

-

1,524

Trade creditors

9,047

15,995

Taxation and social security

57,250

82,305

Other creditors

129,323

55,602

195,620

155,426

10.	ULTIMATE CONTROLLING PARTY

The controlling party is Mr S D Wood.

The ultimate controlling party is Mr S D Wood.