Woodworks Limited


Directors	Andrew Wood
	Audra Wood


Company Secretary	Andrew Wood


Registered Address	15 West Ella Way
	Kirk Ella
	Hull
	HU10 7LN


Registered Number	05072343 (England and Wales)

Notes to the Financial Statements
for the year ended 31 March 2026

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.

	Revenue from sale of goods
	Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.

	Revenue from rendering of services
	Revenue from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

	Employee benefits
	Contributions to defined contribution plans are expensed in the period to which they relate.

	Defined contribution pension plan
	The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

Defined contribution pension plan

The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:


		Reducing balance (%)
	Plant and machinery	25
	Fixtures and fittings	25
	Vehicles	25
	Office Equipment	25

	Finance leases and hire purchase contracts
	Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.

	Stocks and work in progress
	Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition.

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. Trade debtors includes amounts recoverable on contracts, being the estimated revenue earned on long term contracts but not yet invoiced as at the balance sheet date, by reference to their stage of completion.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. 

Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade debtors includes amounts recoverable on contracts, being the estimated revenue earned on long term contracts but not yet invoiced as at the balance sheet date, by reference to their stage of completion.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Trade creditors includes amounts payable on contracts, being the estimated costs payable on long term contracts but not yet invoiced as at the balance sheet date, by reference to their stage of completion.

Trade and other creditors

Short term creditors are measured at transaction price (which is usually the invoice price). 

Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Trade creditors includes amounts payable on contracts, being the estimated costs payable on long term contracts but not yet invoiced as at the balance sheet date, by reference to their stage of completion.

2.	Average number of employees


		2026		2025
	Average number of employees during the year	4		4

3.	Tangible fixed assets

	Plant & machinery	Vehicles	Fixtures & fittings	Office Equipment	Total
	£	£	£	£	£
Cost or valuation
At 01 April 25	14,044	68,210	3,376	7,039	92,669
Additions	2,931	-	-	-	2,931
Disposals	(538)	-	-	-	(538)
At 31 March 26	16,437	68,210	3,376	7,039	95,062
Depreciation and impairment
At 01 April 25	8,079	33,079	3,111	3,162	47,431
Charge for year	1,892	8,783	66	969	11,710
On disposals	(342)	-	-	-	(342)
At 31 March 26	9,629	41,862	3,177	4,131	58,799
Net book value
At 31 March 26	6,808	26,348	199	2,908	36,263
At 31 March 25	5,965	35,131	265	3,877	45,238

4.	Debtors: amounts due within one year

	2026	2025
	£	£
Trade debtors / trade receivables	22,000	37,662
Prepayments and accrued income	2,744	14,037
Total	24,744	51,699


	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.

5.	Creditors: amounts due within one year

	2026	2025
	£	£
Trade creditors / trade payables	16,004	16,476
Bank borrowings and overdrafts	1,667	10,000
Amounts owed to related parties	27	19
Taxation and social security	23,118	42,004
Finance lease and HP contracts	6,178	5,554
Accrued liabilities and deferred income	12,102	18,110
Total	59,096	92,163


	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Included within Bank borrowings and overdrafts is a Government Bounce Back loan totalling £1,667 (2025 £10,000) which is denominated in sterling. The loan is repayable over 6 years with the final instalment due in May 2026. The overall carrying value of the loan as at the year-end is £1,667 (2025 £11,667).

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Included within Bank borrowings and overdrafts is a Government Bounce Back loan totalling £1,667 (2025 £10,000) which is denominated in sterling. The loan is repayable over 6 years with the final instalment due in May 2026.

The overall carrying value of the loan as at the year-end is £1,667 (2025 £11,667).

6.	Creditors: amounts due after one year

	2026	2025
	£	£
Bank borrowings and overdrafts	-	1,667
Other creditors	14,512	20,689
Total	14,512	22,356


	Long term creditors are measured at transaction price (which is usually the invoice price). Included within Bank borrowings and overdrafts is a Government Bounce Back loan totalling £Nil (2025 £1,667) which is denominated in sterling. The loan is repayable over 6 years with the final instalment due in May 2026. The overall carrying value of the loan as at the year-end is £1,667 (2025 £11,667).

Long term creditors are measured at transaction price (which is usually the invoice price).

Included within Bank borrowings and overdrafts is a Government Bounce Back loan totalling £Nil (2025 £1,667) which is denominated in sterling. The loan is repayable over 6 years with the final instalment due in May 2026.

The overall carrying value of the loan as at the year-end is £1,667 (2025 £11,667).

7.	Obligations under finance leases

		2026		2025
		£		£
	Finance lease and HP contracts	20,690		26,244

8.	Provisions for liabilities

	2026	2025
	£	£
Net deferred tax liability (asset)	6,890	10,021
Total	6,890	10,021

	Notes	2026		2025
		£	£	£	£
Fixed assets
Tangible assets	3		36,263		45,238
			36,263		45,238
Current assets
Debtors	4	24,744		51,699
Cash at bank and on hand		19,557		41,934
		44,301		93,633
Creditors amounts falling due within one year	5	(59,096)		(92,163)
Net current assets (liabilities)			(14,795)		1,470
Total assets less current liabilities			21,468		46,708
Creditors amounts falling due after one year	6		(14,512)		(22,356)
Provisions for liabilities	8		(6,890)		(10,021)
Net assets			66		14,331
Capital and reserves
Called up share capital			2		2
Profit and loss account			64		14,329
Shareholders' funds			66		14,331