Company registration number 00485396 (England and Wales)
POTTS & WARD, WOODCOCKS LIMITED
FINANCIAL STATEMENTS
FOR THE 11 MONTH PERIOD ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
POTTS & WARD, WOODCOCKS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 10
POTTS & WARD, WOODCOCKS LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 1 -
31 December 2024
31 January 2024
Notes
£
£
£
£
Fixed assets
Tangible assets
5
534,733
553,220
Current assets
Stocks
843,980
796,209
Debtors
6
889,538
818,902
Cash at bank and in hand
207,929
111,128
1,941,447
1,726,239
Creditors: amounts falling due within one year
7
(1,093,836)
(1,084,166)
Net current assets
847,611
642,073
Net assets
1,382,344
1,195,293
Capital and reserves
Called up share capital
9
860,000
860,000
Profit and loss reserves
10
522,344
335,293
Total equity
1,382,344
1,195,293

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 1 December 2025 and are signed on its behalf by:
D Evans
Director
Company registration number 00485396 (England and Wales)
POTTS & WARD, WOODCOCKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE 11 MONTH PERIOD ENDED 31 DECEMBER 2024
- 2 -
1
Accounting policies
Company information

Potts & Ward, Woodcocks Limited is a private company limited by shares incorporated in England and Wales. The registered office is Lion Buildings Warehouse, Crowhurst Road, Hollingbury, Brighton, Sussex, BN1 8AF.

1.1
Reporting period

These financial statements cover the 11 month period ended 31 December 2024. This follows a change in the reporting date for the Brookvale group in order to bring all companies in line with the calendar year. The comparatives represent the previous 12 month period ended 31 January 2024 and the financial statements (including the related notes) are not directly comparable.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. T he company has therefore taken advantage of e xemptions from the following disclosure requirements:

- Section 7 ‘Statement of Cash Flows’: Presentation of a statement of cash flow and related notes and disclosures;

- Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instrument Issues: Interest income/expense and net gains/losses for financial instruments not measured at fair value; basis of determining fair values; details of collateral, loan defaults or breaches, details of hedges, hedging fair value changes recognised in profit or loss and in other comprehensive income;

- Section 33 ‘Related Party Disclosures’: Compensation for key management personnel.

The financial statements of the company are consolidated in the financial statements of Brookvale Limited, company number 01751661, registered in England & Wales. These consolidated financial statements are available from its registered office at The Lodge, Leek Road, Endon, Stoke-on-Trent, Staffordshire, ST9 9HQ.

1.3
Going concern

A true t the time of approving the financial statements, t he directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus t he directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4
Turnover

Revenue is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

POTTS & WARD, WOODCOCKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE 11 MONTH PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 3 -

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (upon delivery of goods to customer or collection by customer), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Leasehold
2% straight line
Plant and machinery
15% straight line
Fixtures, fittings & equipment
15% straight line
Motor vehicles
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials.

Stocks held for distribution at no or nominal consideration are measured at cost, adjusted where applicable for any loss of service potential.

POTTS & WARD, WOODCOCKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE 11 MONTH PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.8
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

POTTS & WARD, WOODCOCKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE 11 MONTH PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 5 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans and loans from fellow group companies, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

1.10
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.11
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the period. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates for the year as at the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.12
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense. The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

POTTS & WARD, WOODCOCKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE 11 MONTH PERIOD ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 6 -
1.13
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.14
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

Critical judgements

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Useful lives of property, plant and equipment

In determining the depreciation rates to apply against property, plant and equipment, the directors have used their knowledge and experience of both the company and the industry to assess the useful lives of each individual asset.

Key sources of estimation uncertainty

The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows.

Provision for the impairment of trade receivables

The company establishes a provision for the impairment of trade receivables in accordance with its policy in note 1. The recoverable amount of the receivables is compared to the carrying amount to determine the amount of impairment. These calculations require the use of estimates.

3
Auditor's remuneration
Period
Year
ended
ended
31 December
31 January
2024
2024
Fees payable to the company's auditor and associates:
£
£
For audit services
Audit of the financial statements of the company
11,000
9,650
POTTS & WARD, WOODCOCKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE 11 MONTH PERIOD ENDED 31 DECEMBER 2024
- 7 -
4
Employees

The average monthly number of persons (including directors) employed by the company during the 11 month period was:

Period
Year
ended
ended
31 December
31 January
2024
2024
Number
Number
Total
24
20
5
Tangible fixed assets
Land and buildings Leasehold
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 February 2024
750,000
29,595
117,490
-
0
897,085
Additions
-
0
-
0
-
0
11,350
11,350
At 31 December 2024
750,000
29,595
117,490
11,350
908,435
Depreciation and impairment
At 1 February 2024
240,000
28,475
75,390
-
0
343,865
Depreciation charged in the 11 month period
13,750
385
14,520
1,182
29,837
At 31 December 2024
253,750
28,860
89,910
1,182
373,702
Carrying amount
At 31 December 2024
496,250
735
27,580
10,168
534,733
At 31 January 2024
510,000
1,120
42,100
-
0
553,220
6
Debtors
31 December
31 January
2024
2024
Amounts falling due within one year:
£
£
Trade debtors
711,169
651,060
Amounts owed by group undertakings
101,383
87,400
Other debtors
76,986
80,442
889,538
818,902
POTTS & WARD, WOODCOCKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE 11 MONTH PERIOD ENDED 31 DECEMBER 2024
6
Debtors
(Continued)
- 8 -

Trade debtors disclosed above are measured at amortised cost.

An impairment loss of £27,376 (31 January 2024: £31,827) has been recognised against trade receivables.

7
Creditors: amounts falling due within one year
31 December
31 January
2024
2024
£
£
Trade creditors
512,699
500,630
Amounts owed to group undertakings
142,263
162,697
Taxation and social security
86,703
74,456
Other creditors
352,171
346,383
1,093,836
1,084,166
8
Retirement benefit schemes
Period
Year
ended
ended
31 December
31 January
2024
2024
Defined contribution schemes
£
£
Charge to profit or loss in respect of defined contribution schemes
12,986
13,842

The company operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the company in an independently administered fund.

9
Called up share capital
31 December
31 January
31 December
31 January
2024
2024
2024
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
860,000
860,000
860,000
860,000

The company has only one class of ordinary shares, which carries no right to fixed income.

POTTS & WARD, WOODCOCKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE 11 MONTH PERIOD ENDED 31 DECEMBER 2024
- 9 -
10
Profit and loss reserves

The retained earnings account represents cumulative profits and losses net of dividends and other adjustments.

11
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006.

The auditor's report is unqualified and includes the following:

Opinion

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its profit for the 11 month period 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.

Senior Statutory Auditor:
Colin Hamilton
Statutory Auditor:
Ward Williams Limited
Date of audit report:
1 December 2025
12
Operating lease commitments
Lessee

Operating lease payments represent rentals payable by the company for certain equipment and motor vehicles. Leases are negotiated for periods of 3-5 years.

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

31 December
31 January
2024
2024
£
£
216,602
18,988
13
Related party transactions
Transactions with related parties

The company has taken advantage of the exemption in FRS102 section 33 from the requirement to disclose transactions with group companies on the grounds that consolidated accounts are prepared by the ultimate parent company. The consolidated financial statements of Brookvale Limited are available from The Lodge, Leek Road, Endon, Stoke on Trent, Staffordshire, ST9 9HQ.

During the year the company purchased goods totalling £195,390 (31 January 2024: £22,858) from F. Ball and Co. Ltd, a company under the control of a director of Brookvale Limited. The balance owed to F Ball and Co Limited at the period end was £nil (31 January 2024: £12,863), included within trade creditors balance.

POTTS & WARD, WOODCOCKS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE 11 MONTH PERIOD ENDED 31 DECEMBER 2024
- 10 -
14
Parent company

The company's ultimate parent company is Brookvale Limited, a company registered in England and Wales.

The following are t he parents of the largest and smallest groups in which this company's results are consolidated:

Largest group
Brookvale Limited
Smallest group
Brookvale Limited
2024-12-31 2024-02-01 false false false 01 December 2025 CCH Software CCH Accounts Production 2025.300 The principal activity of the company continued to be that of wholesalers of carpets and floor coverings.
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