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Registered number: 02116000
Wood's Flooring (Milton Keynes) Limited
Unaudited Financial Statements
For The Year Ended 31 August 2025
Sawford Bullard
Blisworth Hill Farm
Stoke Road
Blisworth
Northamptonshire
NN7 3DB
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 02116000
2025 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 223,918 233,392
223,918 233,392
CURRENT ASSETS
Stocks 5 1,000 1,500
Debtors 6 6,924 31,396
Cash at bank and in hand 24,468 16,321
32,392 49,217
Creditors: Amounts Falling Due Within One Year 7 (73,417 ) (88,957 )
NET CURRENT ASSETS (LIABILITIES) (41,025 ) (39,740 )
TOTAL ASSETS LESS CURRENT LIABILITIES 182,893 193,652
Creditors: Amounts Falling Due After More Than One Year 8 (21,879 ) (27,584 )
NET ASSETS 161,014 166,068
CAPITAL AND RESERVES
Called up share capital 9 2 2
Profit and Loss Account 161,012 166,066
SHAREHOLDERS' FUNDS 161,014 166,068
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For the year ending 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
S T Wood
Director
24 April 2026
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Wood's Flooring (Milton Keynes) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 02116000 . The registered office is The Workshop, 72 Silver Street, Newport Pagnell, Buckinghamshire, MK16 0EG.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. 
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. 
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed 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 is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold 2% straight line
Plant & Machinery 15% reducing balance
Motor Vehicles 20% reducing balance
Equipment 15% reducing balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Financial Instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. 
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
2.7. 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 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 group of assets. 
For impairment testing of goodwill, the goodwill acquired in a business combination is, from acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective if whether other assets or liabilities of the company are assigned to those units. 
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2024: 3)
3 3
4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Equipment Total
£ £ £ £ £
Cost
As at 1 September 2024 364,731 15,023 13,650 34,811 428,215
Disposals - (12,475 ) - (31,581 ) (44,056 )
As at 31 August 2025 364,731 2,548 13,650 3,230 384,159
Depreciation
As at 1 September 2024 139,833 13,960 7,360 33,670 194,823
Provided during the period 7,296 152 1,258 571 9,277
Disposals - (12,424 ) - (31,435 ) (43,859 )
As at 31 August 2025 147,129 1,688 8,618 2,806 160,241
...CONTINUED
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Net Book Value
As at 31 August 2025 217,602 860 5,032 424 223,918
As at 1 September 2024 224,898 1,063 6,290 1,141 233,392
5. Stocks
2025 2024
£ £
Stock 1,000 1,500
6. Debtors
2025 2024
£ £
Due within one year
Trade debtors 2,951 26,753
Other debtors 3,973 4,643
6,924 31,396
7. Creditors: Amounts Falling Due Within One Year
2025 2024
£ £
Trade creditors 696 5,580
Bank loans and overdrafts 5,818 5,537
Other creditors 65,818 74,374
Taxation and social security 1,085 3,466
73,417 88,957
8. Creditors: Amounts Falling Due After More Than One Year
2025 2024
£ £
Bank loans 21,879 27,584
Included within bank loans is an amount due after 5 years of £60 (2024: £5,436)
9. Share Capital
2025 2024
£ £
Allotted, Called up and fully paid 2 2
10. Related Party Transactions
Included in other creditors are amounts due to S T Wood of £57,351 (2024: £62,306) and to J M Chick of £7,268 (2024: £10,868), who are both directors' of the company. The above amounts are interest free and repayable on demand.
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