Wroot Homes Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 10507311

Wroot Homes Ltd

Filleted Unaudited Financial Statements

31 March 2025

Wroot Homes Ltd

Statement of Financial Position

31 March 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	5		85,394	109,049

Current assets

Stocks		128,417	96,997
Debtors	6	1,334,768	1,108,231
Cash at bank and in hand		6,378	16,580
		------------	------------
		1,469,563	1,221,808

Creditors: amounts falling due within one year	7	1,264,759		1,014,363
		------------		------------
Net current assets			204,804	207,445
			---------	---------
Total assets less current liabilities			290,198	316,494

Creditors: amounts falling due after more than one year	8		17,088	50,684

Provisions	21,349	27,262
	---------	---------
Net assets	251,761	238,548
	---------	---------

Capital and reserves

Called up share capital	100	100
Profit and loss account	251,661	238,448
	---------	---------
Shareholders funds	251,761	238,548
	---------	---------

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 March 2025 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 .

Wroot Homes Ltd

Statement of Financial Position (continued)

31 March 2025

These financial statements were approved by the board of directors and authorised for issue on 6 November 2025 , and are signed on behalf of the board by:

Mr JTE Wroot

Director

Company registration number: 10507311

Wroot Homes Ltd

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 20 Brewery Road, Crowle, Scunthorpe, DN17 4LZ.

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.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

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.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Lease income is recognised in profit or loss on a straight line basis over the lease term. The aggregate cost of lease incentives are recognised as a reduction to income over the lease term on a straight-line basis. Costs, including depreciation, incurred in earning the lease income are recognised as an expense. Any initial direct costs incurred in negotiating and arranging the operating lease are added to the carrying amount of the lease and recognised as an expense over the lease term on the same basis as the lease income.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Plant and machinery	-	25% reducing balance
Motor vehicles	-	25% reducing balance

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.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

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 5 (2024: 4 ).

5. Tangible assets

	Plant and machinery	Motor vehicles	Total
	£	£	£
Cost
At 1 April 2024 and 31 March 2025	99,265	63,800	163,065
	--------	--------	---------
Depreciation
At 1 April 2024	27,103	26,913	54,016
Charge for the year	14,433	9,222	23,655
	--------	--------	---------
At 31 March 2025	41,536	36,135	77,671
	--------	--------	---------
Carrying amount
At 31 March 2025	57,729	27,665	85,394
	--------	--------	---------
At 31 March 2024	72,162	36,887	109,049
	--------	--------	---------

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

	Plant and machinery	Motor vehicles	Total
	£	£	£
At 31 March 2025	53,316	20,165	73,481
	--------	--------	--------
At 31 March 2024	66,644	26,887	93,531
	--------	--------	--------

6. Debtors

	2025	2024
	£	£
Trade debtors	1,135,774	842,194
Amounts owed by group undertakings and undertakings in which the company has a participating interest	111,814	209,814
Other debtors	87,180	56,223
	------------	------------
	1,334,768	1,108,231
	------------	------------

7. Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	175,607	80,780
Amounts owed to group undertakings and undertakings in which the company has a participating interest	761,099	728,285
Corporation tax	10,896	1,001
Social security and other taxes	21,375	14,813
Other creditors	295,782	189,484
	------------	------------
	1,264,759	1,014,363
	------------	------------

8. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Other creditors	17,088	50,684
	--------	--------

9. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2025
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr JTE Wroot	( 73,451)	( 66,500)	14,550	( 125,401)
Mrs C Wroot	( 73,450)	( 66,500)	14,550	( 125,400)
	---------	---------	--------	---------
	( 146,901)	( 133,000)	29,100	( 250,801)
	---------	---------	--------	---------

	2024
	Balance brought forward	Advances/ (credits) to the directors	Amounts repaid	Balance outstanding
	£	£	£	£
Mr JTE Wroot	( 31,451)	( 59,500)	17,500	( 73,451)
Mrs C Wroot	( 31,450)	( 59,500)	17,500	( 73,450)
	--------	---------	--------	---------
	( 62,901)	( 119,000)	35,000	( 146,901)
	--------	---------	--------	---------

10. Related party transactions

The directors of the company, Jonathan and Clare Wroot, both holding 50% of the issued share capital of the company, are also directors and shareholders of Wroot Contracts Ltd (each owning one-third of the issued share capital of that company), Lakes Ealand Ltd (each owning 50% of the issued share capital of that company), Lakes Ealand 18 Ltd (each owning 50% of the issued share capital of that company), Flaxmill Way Ltd (a wholly owned subsidiary of Lakes Ealand 18 Ltd), and Lakes Ealand Management Ltd (each owning 50% of the share capital of that company). During the year ended 31 March 2025, Wroot Contracts Ltd provided materials and sub-contractor services to the company to the value of £nil (2024: £3,200). During the year ended 31 March 2025, the company supplied goods and services to Lakes Ealand Ltd amounting to £nil (2024: £nil) in connection with phase 1 of a domestic property development in Crowle. At 31 March 2025, Lakes Ealand Ltd still owed the company £202,533 in connection with goods and services provided in earlier years. During the year ended 31 March 2025, Lakes Ealand Ltd recharged expenses of £nil (2024: £8,000 plus vat) to Wroot Homes Ltd . The amount outstanding at 31 March 2025 remained at £8,000 (plus vat). The company has previously provided loans to Lakes Ealand Ltd, of which £98,000 remained outstanding at 31 March 2024. The company advanced further loans of £8,000 during the year and Lakes Ealand Ltd advanced £135,814 in repayment of the above loans and advancement of loans to Wroot Homes Ltd . At 31 March 2025 Wroot Homes owed £29,814 to Lakes Ealand Ltd. During the year ended 31 March 2022, Wroot Homes Ltd also advanced two further separate loans to Lakes Ealand Ltd, one for £43,872 and another for £67,943. Both these loans remained owing to the company at 31 March 2025. The second and third phase of the domestic property development in Crowle is being undertaken by Lakes Ealand 18 Ltd and its 100% owned subsidiary company, Flaxmill Way Ltd. Work commenced on the second phase during March 2022 and was completed in September 2023. Work commenced on the third phase of the project during June 2023. During the year ended 31 March 2025, the company supplied goods and services to Lakes Ealand 18 Ltd amounting to £793,083 (2024: £2,440,177). At 31 March 2025 Wroot Homes Ltd was owed £272,295 from Lakes Ealand 18 Ltd in connection with these sales. Wroot Homes Ltd will deduct the amounts owed from Lakes Ealand 18 Ltd against the loans that company has provided to Wroot Homes Ltd (see below). During the year ended 31 March 2024, Lakes Ealand 18 Ltd advanced loans to Wroot Homes Ltd totalling £725,285, the full amount of which remained owing by Wroot Homes Ltd at 31 March 2024 and 31 March 2025. During the year ended 31 March 2025, Lakes Ealand 18 Ltd advanced further loans of £27,000, all of which were repaid during the same period. Any amounts owed by Lakes Ealand 18 Ltd for goods and services supplied will be deducted from this liability when settlement is made. During the year ended 31 March 2025, Wroot Homes Ltd provided goods and services to Flaxmill Way Ltd amounting to £2,166,269 (2024: £nil). At 31 March 2025, Flaxmill Way Ltd still owed the company £694,368 in connection with these goods and services. During the year ended 31 March 2025, the company received advances from Flaxmill Way Ltd of £48,000, of which £42,000 was subsequently repaid, leaving £6,000 still owed to Flaxmill Way Ltd at 31 March 2025. During the year ended 31 March 2024, Lakes Ealand Management Ltd advanced a loan of £3,000 to the company, with a further loan of £5,000 advanced during the year ended 31 March 2025. Both loans were repaid in full during the year ended 31 March 2025.