IRIS Accounts Production v25.4.0.155 07145284 Board of Directors 1.4.24 31.3.25 31.3.25 Medium entities true false true true false false true false These accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime. Ordinary 1.00000 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 07145284 2024-03-31 07145284 2025-03-31 07145284 2024-04-01 2025-03-31 07145284 2023-03-31 07145284 2023-04-01 2024-03-31 07145284 2024-03-31 07145284 ns15:EnglandWales 2024-04-01 2025-03-31 07145284 ns14:PoundSterling 2024-04-01 2025-03-31 07145284 ns10:Director1 2024-04-01 2025-03-31 07145284 ns10:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 07145284 ns10:MediumEntities 2024-04-01 2025-03-31 07145284 ns10:Audited 2024-04-01 2025-03-31 07145284 ns10:Medium-sizedCompaniesRegimeForDirectorsReport 2024-04-01 2025-03-31 07145284 ns10:Medium-sizedCompaniesRegimeForAccounts 2024-04-01 2025-03-31 07145284 ns10:FullAccounts 2024-04-01 2025-03-31 07145284 ns10:OrdinaryShareClass1 2024-04-01 2025-03-31 07145284 ns10:Director2 2024-04-01 2025-03-31 07145284 ns10:Director3 2024-04-01 2025-03-31 07145284 ns10:RegisteredOffice 2024-04-01 2025-03-31 07145284 ns10:Director4 2024-04-01 2025-03-31 07145284 ns5:RetainedEarningsAccumulatedLosses 2024-03-31 07145284 ns5:RetainedEarningsAccumulatedLosses 2023-03-31 07145284 ns5:RetainedEarningsAccumulatedLosses 2024-04-01 2025-03-31 07145284 ns5:RetainedEarningsAccumulatedLosses 2023-04-01 2024-03-31 07145284 ns5:RetainedEarningsAccumulatedLosses 2025-03-31 07145284 ns5:RetainedEarningsAccumulatedLosses 2024-03-31 07145284 ns5:CurrentFinancialInstruments 2025-03-31 07145284 ns5:CurrentFinancialInstruments 2024-03-31 07145284 ns5:ShareCapital 2025-03-31 07145284 ns5:ShareCapital 2024-03-31 07145284 ns5:PlantMachinery 2024-04-01 2025-03-31 07145284 ns5:ReportableOperatingSegment1 2024-04-01 2025-03-31 07145284 ns5:ReportableOperatingSegment1 2023-04-01 2024-03-31 07145284 ns5:TotalReportableOperatingSegmentsIncludingAnyUnallocatedAmount 2024-04-01 2025-03-31 07145284 ns5:TotalReportableOperatingSegmentsIncludingAnyUnallocatedAmount 2023-04-01 2024-03-31 07145284 ns5:OwnedAssets 2024-04-01 2025-03-31 07145284 ns5:OwnedAssets 2023-04-01 2024-03-31 07145284 ns10:OrdinaryShareClass1 2023-04-01 2024-03-31 07145284 ns5:PlantMachinery 2024-03-31 07145284 ns5:PlantMachinery 2025-03-31 07145284 ns5:PlantMachinery 2024-03-31 07145284 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2025-03-31 07145284 ns5:WithinOneYear ns5:CurrentFinancialInstruments 2024-03-31 07145284 ns5:DeferredTaxation 2024-03-31 07145284 ns5:DeferredTaxation 2024-04-01 2025-03-31 07145284 ns5:DeferredTaxation 2025-03-31 07145284 ns10:OrdinaryShareClass1 2025-03-31

REGISTERED NUMBER: 07145284 (England and Wales)

| Strategic Report, Report of the Directors and |

| Financial Statements |

| for the Year Ended 31 March 2025 |

| for |

| Herbert Woods Enterprises |

| Limited |

Herbert Woods Enterprises

Limited (Registered number: 07145284)

Contents of the Financial Statements

for the Year Ended 31 March 2025

Page |

Company Information | 1 |

Strategic Report | 2 |

Report of the Directors | 3 |

Report of the Independent Auditors | 5 |

Statement of Income and Retained Earnings | 8 |

Balance Sheet | 9 |

Cash Flow Statement | 10 |

Notes to the Cash Flow Statement | 11 |

Notes to the Financial Statements | 12 |

Herbert Woods Enterprises

Limited

Company Information

for the Year Ended 31 March 2025

| DIRECTORS: | J A Butler

| J F Brunning

| Mrs E M Butler

| REGISTERED OFFICE: | Broads Haven Bridge Road

| Potter Heigham

| Great Yarmouth

| Norfolk

| NR29 5JD

| REGISTERED NUMBER: | 07145284 (England and Wales)

| AUDITORS: | Lovewell Blake LLP

| Statutory Auditors

| Bankside 300

| Peachman Way

| Broadland Business Park

| Norwich

| Norfolk

| NR7 0LB

Herbert Woods Enterprises

Limited (Registered number: 07145284)

Strategic Report

for the Year Ended 31 March 2025

The directors present their strategic report for the year ended 31 March 2025.

REVIEW OF BUSINESS

The principal activity of the company is that of boat sales and administration of human resources. In the accounting period under review, the company reported a pre-tax profit of £64,126 (2024: pre-tax profit of £497,850).

Trading was hampered during the year due to flooding which caused widespread disruption. However, customer demand continued to be strong and the director is satisfied with this result.

KEY PERFORMANCE INDICATORS

Key performance indicators highlight a reduced company turnover of £265,084 to £1,798,666 (2024: £2,063,750). Gross profit also reduced by £261,748 from £1,676,004 to £1,414,256. The gross margin for the year ended 31 March 2025 was 78.6% (2024: 81.2%).

A budget is set each year and monthly performance, including the KPIs above, are monitored against historical trends and budgetary targets.

CASH FLOW RISK

Cash flow risk is the risk that inflows and outflows of cash will not be sufficient to finance the day-to-day operations of the company. The company manages its cash flow risk by monitoring working capital and ensuring that cash collection terms are met.

ON BEHALF OF THE BOARD:

J A Butler - Director

13 November 2025

Herbert Woods Enterprises

Limited (Registered number: 07145284)

Report of the Directors

for the Year Ended 31 March 2025

The directors present their report with the financial statements of the company for the year ended 31 March 2025.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of boat sales and administration of human resources.

DIVIDENDS

No dividends will be distributed for the year ended 31 March 2025.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 April 2024 to the date of this report.

J A Butler

J F Brunning

Mrs E M Butler

Other changes in directors holding office are as follows:

M J Hogarth - resigned 30 April 2024

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- | select suitable accounting policies and then apply them consistently;

- | make judgements and accounting estimates that are reasonable and prudent;

- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Herbert Woods Enterprises

Limited (Registered number: 07145284)

Report of the Directors

for the Year Ended 31 March 2025

AUDITORS

The auditors, Lovewell Blake LLP, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

J A Butler - Director

13 November 2025

Report of the Independent Auditors to the Members of

Herbert Woods Enterprises

Limited

Opinion

We have audited the financial statements of Herbert Woods Enterprises Limited (the 'company') for the year ended 31 March 2025 which comprise the Statement of Income and Retained Earnings, Balance Sheet, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- | give a true and fair view of the state of the company's affairs as at 31 March 2025 and of its profit for the year then ended;

- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- | have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

- | the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- | the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of

Herbert Woods Enterprises

Limited

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- the financial statements are not in agreement with the accounting records and returns; or

- certain disclosures of directors' remuneration specified by law are not made; or

- we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including

fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- Enquiry of management and those charged with governance;

- Enquiry of entity staff to identify any instances of non-compliance with laws and regulations;

- Performing audit work over the risk of management override of controls, including testing of journal and other adjustments for appropriateness and evaluating the business rationale of significant transactions outside the normal course of business;

- Performing audit work over the calculation and internal processing of payroll costs

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of

Herbert Woods Enterprises

Limited

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Steven Scarlett FCA (Senior Statutory Auditor)

For and on behalf of Lovewell Blake LLP

Statutory Auditors

Bankside 300

Peachman Way

Broadland Business Park

Norwich

Norfolk

NR7 0LB

13 November 2025

Herbert Woods Enterprises

Limited (Registered number: 07145284)

Statement of Income and Retained Earnings

for the Year Ended 31 March 2025

| 31.3.25 |  | 31.3.24

| Notes | £ | £ |

TURNOVER | 3 | 1,798,666 |  | 2,063,750 |  |

Cost of sales | 384,410 |  | 387,746 |  |

GROSS PROFIT | 1,414,256 |  | 1,676,004 |  |

Administrative expenses | 1,688,358 |  | 1,643,437 |  |

(274,102 | ) | 32,567 |  |

Other operating income | 338,228 |  | 465,283 |  |

OPERATING PROFIT and |

PROFIT BEFORE TAXATION | 64,126 |  | 497,850 |  |

Tax on profit | 7 | (50,153 | ) | 30,280 |  |

PROFIT FOR THE FINANCIAL YEAR | 114,279 |  | 467,570 |  |

Retained earnings at beginning of year | 5,184,104 |  | 4,717,534 |  |

Dividends | 8 | - |  | (1,000 | ) |

RETAINED EARNINGS AT END OF YEAR | 5,298,383 |  | 5,184,104 |  |

Herbert Woods Enterprises

Limited (Registered number: 07145284)

Balance Sheet

31 March 2025

| 31.3.25 | 31.3.24 |

| Notes | £ | £ | £ | £ |

FIXED ASSETS

Tangible assets | 9 | 60,993 |  | 69,811 |  |

Investments | 10 | 5,173,022 |  | 4,925,781 |  |

5,234,015 |  | 4,995,592 |  |

CURRENT ASSETS

Debtors | 11 | 123,194 |  | 281,287 |  |

Cash at bank | 10,046 |  | 43,626 |  |

133,240 |  | 324,913 |  |

CREDITORS

Amounts falling due within one year | 12 | 68,772 |  | 118,848 |  |

NET CURRENT ASSETS | 64,468 |  | 206,065 |  |

TOTAL ASSETS LESS CURRENT LIABILITIES | 5,298,483 |  | 5,201,657 |  |

PROVISIONS FOR LIABILITIES | 13 | - |  | 17,453 |  |

NET ASSETS | 5,298,483 |  | 5,184,204 |  |

CAPITAL AND RESERVES

Called up share capital | 14 | 100 |  | 100 |  |

Retained earnings | 15 | 5,298,383 |  | 5,184,104 |  |

SHAREHOLDERS' FUNDS | 5,298,483 |  | 5,184,204 |  |

The financial statements were approved by the Board of Directors and authorised for issue on 13 November 2025 and were signed on its behalf by:

J A Butler - Director

Herbert Woods Enterprises

Limited (Registered number: 07145284)

Cash Flow Statement

for the Year Ended 31 March 2025

| 31.3.25 |  | 31.3.24

| Notes | £ | £ |

Cash flows from operating activities

Cash generated from operations | 1 | 245,801 |  | 502,048 |  |

Tax paid | (32,140 | ) | (181,289 | ) |

Net cash from operating activities | 213,661 |  | 320,759 |  |

Cash flows from investing activities

Movement in valuation of investments | (247,241 | ) | (336,450 | ) |

Net cash from investing activities | (247,241 | ) | (336,450 | ) |

Cash flows from financing activities

Equity dividends paid | - |  | (1,000 | ) |

Net cash from financing activities | - |  | (1,000 | ) |

Decrease in cash and cash equivalents | (33,580 | ) | (16,691 | ) |

Cash and cash equivalents at beginning of year | 2 | 43,626 |  | 60,317 |  |

Cash and cash equivalents at end of year | 2 | 10,046 |  | 43,626 |  |

Herbert Woods Enterprises

Limited (Registered number: 07145284)

Notes to the Cash Flow Statement

for the Year Ended 31 March 2025

1. | RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS

| 31.3.25 |  | 31.3.24

£ | £ |

| Profit before taxation | 64,126 |  | 497,850 |  |

| Depreciation charges | 8,818 |  | 8,818 |  |

72,944 |  | 506,668 |  |

| Decrease in trade and other debtors | 190,310 |  | 3,998 |  |

| Decrease in trade and other creditors | (17,453 | ) | (8,618 | ) |

| Cash generated from operations | 245,801 |  | 502,048 |  |

2. | CASH AND CASH EQUIVALENTS

| The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

| Year ended 31 March 2025

| 31.3.25 |  | 1.4.24

£ | £ |

| Cash and cash equivalents | 10,046 |  | 43,626 |  |

| Year ended 31 March 2024

| 31.3.24 |  | 1.4.23

£ | £ |

| Cash and cash equivalents | 43,626 |  | 60,317 |  |

3. | ANALYSIS OF CHANGES IN NET FUNDS

| At 1.4.24 | Cash flow | At 31.3.25

£ | £ | £ |

| Net cash |

| Cash at bank | 43,626 |  | (33,580 | ) | 10,046 |  |

43,626 |  | (33,580 | ) | 10,046 |  |

| Total | 43,626 |  | (33,580 | ) | 10,046 |  |

Herbert Woods Enterprises

Limited (Registered number: 07145284)

Notes to the Financial Statements

for the Year Ended 31 March 2025

1. | STATUTORY INFORMATION

| Herbert Woods Enterprises 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| The functional and presentational currency of the company is pounds sterling. Monetary amounts in these financial statements are rounded to the nearest £1, except where otherwise indicated.

| Going concern

| The directors have prepared the accounts using the going concern basis.

| Significant judgements and estimates

| Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

| Turnover

| 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.

| Tangible fixed assets

| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

| Plant and machinery | - | 10% on cost

| Investments

| Investments are shown at fair value or where fair value cannot be readily ascertained at cost less impairment. Any aggregate or surplus arising from changes in fair value is recognised through profit and 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.

Herbert Woods Enterprises

Limited (Registered number: 07145284)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

2. | ACCOUNTING POLICIES - continued

| 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.

| 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.

| Investments

| Investments are initially measured at cost, and subsequently measured at cost less any accumulated impairment losses.

| Provision for liabilities

| Provisions are recognised when the group has a present obligation (legal or constructive) as a result of a past event, it is probable that the company will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation.

| The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

| Other operating income

| Other operating income represents the profit shares receivable from LLPs based on the company’s entitlement to them from LLPs of which the company is a member.

3. | TURNOVER

| The turnover and profit before taxation are attributable to the one principal activity of the company.

| An analysis of turnover by class of business is given below:

| 31.3.25 |  | 31.3.24

£ | £ |

| Services and the sale of goods | 1,798,666 |  | 2,063,750 |  |

1,798,666 |  | 2,063,750 |  |

| The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.

Herbert Woods Enterprises

Limited (Registered number: 07145284)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

4. | EMPLOYEES AND DIRECTORS

| 31.3.25 |  | 31.3.24

£ | £ |

| Wages and salaries | 1,484,677 |  | 1,451,894 |  |

| Social security costs | 125,119 |  | 123,117 |  |

| Other pension costs | 34,853 |  | 38,491 |  |

1,644,649 |  | 1,613,502 |  |

| The average number of employees during the year was as follows:

| 31.3.25 |  | 31.3.24

| Administration | 68 |  | 67 |  |

5. | DIRECTORS' EMOLUMENTS

| 31.3.25 |  | 31.3.24

£ | £ |

| Directors' remuneration | 51,145 |  | 100,081 |  |

| Directors' pension contributions to money purchase schemes | 11,476 |  | 17,528 |  |

| Company pension contributions to money purchase pension schemes on behalf of directors paid during the year were £11,476 (2024: £17,528).

6. | OPERATING PROFIT

| The operating profit is stated after charging:

| 31.3.25 |  | 31.3.24

£ | £ |

| Depreciation - owned assets | 8,818 |  | 8,818 |  |

| Auditors' remuneration | 2,500 |  | 2,350 |  |

Herbert Woods Enterprises

Limited (Registered number: 07145284)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

7. | TAXATION

| Analysis of the tax (credit)/charge

| The tax (credit)/charge on the profit for the year was as follows:

| 31.3.25 |  | 31.3.24

£ | £ |

| Current tax:

| UK corporation tax | - |  | 32,484 |  |

| Prior year corporation tax | (32,700 | ) | - |  |

| Total current tax | (32,700 | ) | 32,484 |  |

| Deferred tax | (17,453 | ) | (2,204 | ) |

| Tax on profit | (50,153 | ) | 30,280 |  |

| Reconciliation of total tax (credit)/charge included in profit and loss

| The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

| 31.3.25 |  | 31.3.24

£ | £ |

| Profit before tax | 64,126 |  | 497,850 |  |

| Profit multiplied by the standard rate of corporation tax in the UK of 25% (2024 - 25%) | 16,032 |  | 124,463 |  |

| Effects of:

| Income not taxable for tax purposes | (68,904 | ) | (92,469 | ) |

| Marginal relief | - |  | (1,714 | ) |

| Deferred tax asset not recognised | 1,488 |  | - |  |

| Difference between tax rate and carried back losses rate | 1,231 |  | - |  |

| Total tax (credit)/charge | (50,153 | ) | 30,280 |  |

8. | DIVIDENDS

| 31.3.25 |  | 31.3.24

£ | £ |

| Final | - |  | 1,000 |  |

Herbert Woods Enterprises

Limited (Registered number: 07145284)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

9. | TANGIBLE FIXED ASSETS

| Plant and

| machinery

£ |

| COST

| At 1 April 2024

| and 31 March 2025 | 88,182 |  |

| DEPRECIATION

| At 1 April 2024 | 18,371 |  |

| Charge for year | 8,818 |  |

| At 31 March 2025 | 27,189 |  |

| NET BOOK VALUE

| At 31 March 2025 | 60,993 |  |

| At 31 March 2024 | 69,811 |  |

10. | FIXED ASSET INVESTMENTS

| Investments (neither listed nor unlisted) were as follows:

| 31.3.25 |  | 31.3.24

£ | £ |

| Balance b/fwd | 4,925,781 |  | 4,589,331 |  |

| Capital introduced | 247,241 |  | 336,450 |  |

5,173,022 |  | 4,925,781 |  |

| Fixed Asset Investments represents the company's capital account balances in Herbert Woods LLP of £4,865,437 (2024: £4,598,137), Waterside Estate Agency LLP of £254,648 (2024: £280,214) and Waterside Holiday Direct LLP of £52,937 (2024: £47,430) respectively.

11. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.3.25 |  | 31.3.24

£ | £ |

| Amounts recoverable on contract | 90,677 |  | 275,127 |  |

| Other debtors | 32,517 |  | 6,160 |  |

123,194 |  | 281,287 |  |

Herbert Woods Enterprises

Limited (Registered number: 07145284)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

12. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |

| 31.3.25 |  | 31.3.24

£ | £ |

| Trade creditors | 11,570 |  | 4,306 |  |

| Tax | - |  | 32,623 |  |

| Social security and other taxes | 23,982 |  | 23,375 |  |

| Pension Fund | 5,152 |  | 4,144 |  |

| Accruals and deferred income | 28,068 |  | 54,400 |  |

68,772 |  | 118,848 |  |

13. | PROVISIONS FOR LIABILITIES

| 31.3.25 |  | 31.3.24

£ | £ |

| Deferred tax | - |  | 17,453 |  |

| Deferred |

| tax |

£ |

| Balance at 1 April 2024 | 17,453 |  |

| Credit to Income Statement during year | (17,453 | ) |

| Balance at 31 March 2025 | - |  |

| Deferred tax totalling £nil (2024: £17,453) includes accelerated capital allowance of £15,248 (2024: £17,453) less losses carried forward of £15,248 (2024: £nil).

14. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 31.3.25 |  | 31.3.24

| value: | £ | £ |

| 100 | Ordinary | £1 | 100 |  | 100 |  |

Herbert Woods Enterprises

Limited (Registered number: 07145284)

Notes to the Financial Statements - continued

for the Year Ended 31 March 2025

15. | RESERVES

| Retained

| earnings

£ |

| At 1 April 2024 | 5,184,104 |  |

| Profit for the year | 114,279 |  |

| At 31 March 2025 | 5,298,383 |  |

| Called up share capital represents the nominal value of shares that have been issued.

| Profit and loss account includes all current and prior period retained profits and losses.

16. | CONTINGENT LIABILITIES

| There is a cross guarantee in place with Herbert Woods LLP, whose bank loan balances and overdraft balance totals £5,026,992 (2024: £5,435,279).

17. | RELATED PARTY DISCLOSURES

| Herbert Woods Enterprises Limited is connected to Herbert Woods LLP, Waterside Estate Agency LLP and Waterside Holidays Direct LLP through common directors and designated members.

| During the period ended 31 March 2025, the company received net profit & loss shares of £333,502 (2024: £459,612) from LLPs connected through common directors and designated members.

| During the period ended 31 March 2025, the company recharged costs of £1,375,815 (2024: £1,669,374) to LLPs connected through common directors and designated members.

| During the period ended 31 March 2025, the company invoiced boat sales of £422,851 (2024: £394,376) to an LLP connected through common directors and designated members.

18. | ULTIMATE CONTROLLING PARTY

| The ultimate controlling party is J A Butler.