Woodgavil Estates Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 06964825

Woodgavil Estates Limited

Filleted Unaudited Financial Statements

31 December 2024

Woodgavil Estates Limited

Financial Statements

Year ended 31 December 2024

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Woodgavil Estates Limited

Statement of Financial Position

31 December 2024

	2024	2023
Note	£	£

Fixed assets

Tangible assets	5	16,506,728	16,268,648

Current assets

Debtors	6	5,545,057	4,370,010
Cash at bank and in hand		450,843	1,109,381
		------------	------------
		5,995,900	5,479,391

Creditors: amounts falling due within one year	7	2,666,389	2,554,407
		------------	------------
Net current assets		3,329,511	2,924,984
		-------------	-------------
Total assets less current liabilities		19,836,239	19,193,632

Provisions

Taxation including deferred tax	964,671	964,671
	-------------	-------------
Net assets	18,871,568	18,228,961
	-------------	-------------

Capital and reserves

Called up share capital	951,658	951,658
Share premium account	8,141,305	8,141,305
Profit and loss account	9,778,605	9,135,998
	-------------	-------------
Shareholders funds	18,871,568	18,228,961
	-------------	-------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

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.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Woodgavil Estates Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 25 September 2025 , and are signed on behalf of the board by:

M Robinson

Director

Company registration number: 06964825

Woodgavil Estates Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Suite 3, Independent House, Independent Business Park, Imberhorne Lane, East Grinstead, West Sussex, RH19 1TU.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

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. The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows: The Investment Properties are measured at fair value using a methodology approved by the Registered Institute of Chartered Surveyors. This includes an assessment rent yields, open market value of rents receivable and site specific factors. The carrying amount of the investment property is shown in note 5 to the Financial Statements.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for rents, management services and lease extension premiums net of Value Added Tax.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

All fixed assets are initially recorded at cost.

Investment property

Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).

5. Tangible assets

	Freehold property	Long leasehold property	Total
	£	£	£
Cost
At 1 January 2024	15,536,154	732,494	16,268,648
Additions	238,080	–	238,080
	-------------	---------	-------------
At 31 December 2024	15,774,234	732,494	16,506,728
	-------------	---------	-------------
Depreciation
At 1 January 2024 and 31 December 2024	–	–	–
	-------------	---------	-------------
Carrying amount
At 31 December 2024	15,774,234	732,494	16,506,728
	-------------	---------	-------------
At 31 December 2023	15,536,154	732,494	16,268,648
	-------------	---------	-------------

The investment properties are revalued on a fair value basis by Mr P Morris, a director and shareholder of the company. He is of the opinion that the fair value has not significantly changed and no adjustment has therefore been made. Mr P Morris is a member of the Royal Institute of Chartered Surveyors (RICS). The valuations are based on market yields, rents receivable and site specific factors.

6. Debtors

	2024	2023
	£	£
Trade debtors	30,615	40,572
Amounts owed by group undertakings and undertakings in which the company has a participating interest	4,913	4,913
Other debtors	5,509,529	4,324,525
	------------	------------
	5,545,057	4,370,010
	------------	------------

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Trade creditors	52,365	46,213
Amounts owed to group undertakings and undertakings in which the company has a participating interest	2,221,759	2,031,626
Corporation tax	221,475	226,254
Social security and other taxes	14,699	14,035
Other creditors	156,091	236,279
	------------	------------
	2,666,389	2,554,407
	------------	------------

8. Related party transactions

The company was under the control of Mr P E Morris, the managing director in the current and previous year. The sole shareholder of the company in the current and previous year was Woodgavil Properties Ltd, the parent company. Mr Morris exercises control of Woodgavil Estates Ltd by virtue of ownership of specific shares in Woodgavil Properties Ltd that allows him to control the company. The balances owing from/(to) related undertakings at the year-end are shown below:

	Year ended 31/12/2024	Year ended 31/12/2023
	£	£
Woodgavil Properties Ltd - parent company	(2,221,759)	(2,031,626)
Cadeleigh Estates Ltd	3,549,667	2,273,230
D M Estates Ltd	30,080	29,780
Sovereign Counties Ltd	984,502	1,084,202
Regency Property (Tadworth) Ltd	403,487	403,487
Warbleoak	144,542	144,542
Exe Valley (Investments) Ltd	4,913	4,913
Beaver Estates (Ashford) Investments Ltd	133,371	132,171
Cadeleigh Properties Ltd	238,941	228,079

Mr P E Morris is a director and/or shareholder of the above companies. The loans are interest free and repayable on demand. The company is a joint and equal guarantor (with Woodgavil Ltd, a fellow subsidiary) for Woodgavil Properties Ltd (the parent company) and Exe Valley (Investments) Ltd (a fellow subsidiary undertaking). If at any time either of the aforementioned group companies has insufficient funds to pay its debts as they fall due, both Woodgavil Estates Ltd and Woodgavil Ltd are obliged to immediately pay to either company (as appropriate) in equal proportions a sufficient amount to enable debts to be paid.

9. Controlling party

The parent undertaking is Woodgavil Properties Ltd. The group being a small group, has taken advantage of section 398 of the Companies Act and has not prepared group accounts.