Company Registration No. 10058872 (England and Wales)
Woodspring Property Limited
Unaudited accounts
for the year ended 31 March 2020
Woodspring Property Limited
Unaudited accounts
Contents
Woodspring Property Limited
Company Information
for the year ended 31 March 2020
Directors
R Thompson
K Towers
Company Number
10058872 (England and Wales)
Registered Office
37 SPRING LANE
HARROGATE
HG3 1NP
UNITED KINGDOM
Accountants
Accounts Lab Ltd
The Leeming Building
Vicar Lane
Leeds
West Yorkshire
LS2 7JF
Woodspring Property Limited
Statement of financial position
as at 31 March 2020
Investment property
700,000
675,000
Cash at bank and in hand
62,073
44,989
Creditors: amounts falling due within one year
(368,492)
(365,262)
Net current liabilities
(301,006)
(316,663)
Total assets less current liabilities
398,994
358,337
Creditors: amounts falling due after more than one year
(239,447)
(258,894)
Provisions for liabilities
Deferred tax
(8,748)
(3,998)
Called up share capital
100
100
Revaluation reserve
20,250
-
Profit and loss account
130,449
95,345
Shareholders' funds
150,799
95,445
For the year ending 31 March 2020 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 23 December 2020 and were signed on its behalf by
R Thompson
Director
Company Registration No. 10058872
Woodspring Property Limited
Notes to the Accounts
for the year ended 31 March 2020
Woodspring Property Limited is a private company, limited by shares, registered in England and Wales, registration number 10058872. The registered office is 37 SPRING LANE, HARROGATE, HG3 1NP, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable for rental income during the period.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Fair value at 1 April 2019
675,000
Net gain from fair value adjustments
25,000
Accrued income and prepayments
587
579
Woodspring Property Limited
Notes to the Accounts
for the year ended 31 March 2020
6
Creditors: amounts falling due within one year
2020
2019
Bank loans and overdrafts
18,786
18,125
Amounts owed to group undertakings and other participating interests
2,515
295
Taxes and social security
8,234
8,979
Other creditors
2,830
1,850
Loans from directors
333,324
333,324
Svenska Handelsbanken hold a fixed charge over the property owned at Units 1-16, Clifton Forge Business Park, Forge Hill Lane, Knottingley, West Yorkshire.
7
Creditors: amounts falling due after more than one year
2020
2019
Bank loans
239,447
258,894
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
9
Transactions with related parties
T1 Asset Management Limited:
The company is related to T1 Asset Management Limited by the virtue of a common director. During the period, the net transfers between the two companies were £2,220 received from T1 Asset Management Limited (2019: £295). The amount outstanding to T1 Asset Management Limited at the Balance Sheet date was £2,515 (2019: £295).
10
Average number of employees
During the year the average number of employees was 2 (2019: 2).
