Woodglen Direct Ltd.,Ltd - AccountsLtd - Accounts

Woodglen Direct Ltd.,Ltd - AccountsLtd - Accounts

WOODGLEN DIRECT LTD. - Company Information

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2020-06-01 04623076 2021-03-31 04623076 2020-06-01 2021-03-31 04623076 2020-05-31 04623076 2019-04-01 2020-05-31 04623076 uk-core:WithinOneYear 2020-05-31 04623076 uk-core:WithinOneYear 2021-03-31 04623076 uk-core:AfterOneYear 2020-05-31 04623076 uk-core:AfterOneYear 2021-03-31 04623076 uk-core:ShareCapital 2021-03-31 04623076 uk-core:ShareCapital 2020-05-31 04623076 uk-core:RetainedEarningsAccumulatedLosses 2021-03-31 04623076 uk-core:RetainedEarningsAccumulatedLosses 2020-05-31 04623076 uk-bus:Director1 2020-06-01 2021-03-31 04623076 uk-core:Buildings 2020-06-01 2021-03-31 04623076 uk-core:PlantMachinery 2020-06-01 2021-03-31 04623076 uk-core:ComputerEquipment 2020-06-01 2021-03-31 04623076 uk-core:MotorCars 2020-06-01 2021-03-31 04623076 uk-core:FurnitureFittings 2020-06-01 2021-03-31 04623076 uk-core:FurnitureFittings 2020-05-31 04623076 uk-core:PlantMachinery 2020-05-31 04623076 uk-core:Buildings 2020-05-31 04623076 uk-core:Buildings 2021-03-31 04623076 uk-core:PlantMachinery 2021-03-31 04623076 uk-core:FurnitureFittings 2021-03-31 04623076 uk-core:AfterOneYear uk-core:Secured 2021-03-31 04623076 uk-core:AfterOneYear uk-core:Secured 2020-05-31 04623076 uk-core:BetweenTwoFiveYears 2020-05-31 04623076 uk-core:BetweenTwoFiveYears 2021-03-31 iso4217:GBP xbrli:pure 04623076 uk-bus:AuditExemptWithAccountantsReport 2020-06-01 2021-03-31 04623076 uk-bus:FRS102 2020-06-01 2021-03-31 04623076 uk-bus:FullAccounts 2020-06-01 2021-03-31 04623076 uk-bus:PrivateLimitedCompanyLtd 2020-06-01 2021-03-31
Woodglen Direct Ltd.
Registered Number:04623076
For the period ended 31 March 2021
England and Wales
Unaudited Financial Statements
2
For the period ended 31 March 2021
Woodglen Direct Ltd.
Contents Page
1
Statement of Financial Position
2 to 5
Notes to the Financial Statements
3
Registered Number :
04623076
As at 31 March 2021
Woodglen Direct Ltd.
Statement of Financial Position
£
£
2020
2021
Notes
Fixed assets
Property, plant and equipment
1
123,859
2
1
123,859
Current assets
Inventories
8,375
299,530
3
Trade and other receivables
128,135
134,074
4
290,446
Cash and cash equivalents
126,349
559,953
426,956
Trade and other payables: amounts falling due within one
year
(90,527)
(100,863)
5
336,429
459,090
Net current assets
Total assets less current liabilities
459,091
460,288
Trade and other payables: amounts falling due after more
than one year
(150,000)
(150,000)
6
-
(1,521)
Provisions for liabilities
309,091
Net assets
308,767
Capital and reserves
Called up share capital
100
100
Retained earnings
308,991
308,667
309,091
308,767
Shareholders' funds
For the period ended 31 March 2021 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 of its financial statements for the period ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Section
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
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4
Registered Number :
04623076
For the period ended 31 March 2021
Woodglen Direct Ltd.
Statement of Financial Position Continued
Mr Michael Glen Cotter Director
These financial statements were approved and authorised for issue by the Board on 27 July 2021 and were signed by:
The notes form part of these financial statements
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5
For the period ended 31 March 2021
Woodglen Direct Ltd.
Notes to the Financial Statements
Statutory Information
Woodglen Direct Ltd. is a private limited company, limited by shares, domiciled in England and Wales, registration
number 04623076.
Registered address:
82 Blackdyke Road
Kingstown Industrial Estate
Carlisle
CA30PJ
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of 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 costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes.
Property, plant and equipment
Property, plant and equipment, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and Buildings
2% Straight line
Plant and Machinery
25% Straight line
25% Straight line
Computer Equipment
25% Straight line
Motor Vehicles
25% Straight line
Furniture and Fittings
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Inventories
Inventories are value at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straightline basis over the period of the lease.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable.
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6
For the period ended 31 March 2021
Woodglen Direct Ltd.
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Furniture and
Fittings
Plant and
Machinery
Land and
Buildings
£
£
£
£
Cost or
valuation
At 01 June 2020
159,266
8,890
31,756
118,620
-
-
(118,620)
Disposals
(118,620)
At 31 March 2021
-
31,756
8,890
40,646
Provision for depreciation and impairment
At 01 June 2020
35,407
8,889
23,750
2,768
Charge for period
8,006
-
8,006
-
(2,768)
-
-
(2,768)
On disposal
At 31 March 2021
40,645
8,889
31,756
-
At 31 March 2021
Net book value
-
-
1
1
At 31 May 2020
115,852
8,006
1
123,859
3. Inventories
2020
2021
£
£
Stocks
299,530
8,375
4. Trade and other receivables
2020
2021
£
£
Trade debtors
30,496
22,507
Amounts owed by group undertakings and participating interests
100,000
100,000
Other debtors
3,578
5,628
128,135
134,074
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7
For the period ended 31 March 2021
Woodglen Direct Ltd.
Notes to the Financial Statements Continued
5. Trade and other payables: amounts falling due within one year
2020
2021
£
£
Trade creditors
90,877
86,270
Amounts owed to group undertaking and undertaking in which the
company has a participating interest
105
105
Taxation and social security
8,431
2,702
Other creditors
1,450
1,450
100,863
90,527
6. Trade and other payables: amounts falling due after more than one year
2020
2021
£
£
Bank loans and overdraft
150,000
150,000
7. Guarantees and other financial commitments
Lease commitments
At 31 March 2021 the company had annual commitments under non-cancellable operating leases as set out below:
2020
£
2021
£
Operating leases which expire:
13,951
16,804
Within 1 year
951
-
Within 2 to 5 years
13,951
17,755
8. Average number of persons employed
During the period the average number of employees was 2 (2020 : 2)
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