The Woodhouse Partnership Limited - Period Ending 2013-12-31

Registration number: 02935938

The Woodhouse Partnership Limited

Unaudited Abbreviated Accounts

for the Year Ended 31 December 2013
 

The Woodhouse Partnership Limited
Contents

Abbreviated Balance Sheet 1

Notes to the Abbreviated Accounts 2 to 4

The Woodhouse Partnership Limited
(Registration number: 02935938)
Abbreviated Balance Sheet at 31 December 2013

		Note			2013 £			2012 £
Fixed assets
Tangible fixed assets		2			256,550			243,212
Investments		2			5,001			1
					261,551			243,213
Current assets
Debtors					1,483,629			1,227,673
Cash at bank and in hand					619,511			291,452
					2,103,140			1,519,125
Creditors: Amounts falling due within one year					(1,114,159)			(665,668)
Net current assets					988,981			853,457
Total assets less current liabilities					1,250,532			1,096,670
Capital and reserves
Called up share capital		3			2,000			2,000
Profit and loss account					1,248,532			1,094,670
Shareholders' funds					1,250,532			1,096,670

For the year ending 31 December 2013 the company was entitled to exemption 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the director on 29 September 2014

.........................................
J W Woodhouse
Director

The notes on pages 2 to 4 form an integral part of these financial statements.
Page 1

The Woodhouse Partnership Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2013
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Exemption from preparing group accounts

The company is part of a small group. The company has taken advantage of the exemption provided by Section 398 of the Companies Act 2006 and has not prepared group accounts.

Turnover

The company's turnover represents the value, excluding value added tax, of services provided to customers during the year.

Depreciation

Depreciation is provided on tangible fixed assets as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Equipment	25% reducing balance basis

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Deferred tax

Deferred tax is recognised, without discounting, in respect of all timing differences between the treatment of certain items for taxation and accounting purposes, which have arisen but not reversed by the balance sheet date, except as required by FRSSE. Deferred tax is measured at the rates that are expected to apply in the periods when the timing differences are expected to reverse, based on the tax rates and law enacted at the balance sheet date.

Foreign currency

Transactions in foreign currencies are recorded at the exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the closing rates at the balance sheet date. All exchange differences are included in the profit and loss account.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as 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. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

Pensions

The company operates a defined contribution pension scheme. The pension cost charge for the period represents contributions payable by the company to the scheme and amounted to £93,656 (2011 - £13,656). There were no outstanding or prepaid contributions at either the beginning or end of the financial year.

Page 2

The Woodhouse Partnership Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2013
......... continued

2	Fixed assets

		Tangible assets £			Investments £			Total £
Cost
At 1 January 2013		265,180			1			265,181
Additions		16,219			5,000			21,219
At 31 December 2013		281,399			5,001			286,400
Depreciation
At 1 January 2013		21,968			-			21,968
Charge for the year		2,881			-			2,881
At 31 December 2013		24,849			-			24,849
Net book value
At 31 December 2013		256,550			5,001			261,551
At 31 December 2012		243,212			1			243,213

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Holding

Proportion of voting rights and shares held

Principal activity

Subsidiary undertakings
Decision Support Tools Limited	A Ordinary	100%	Software consultancy and supply

Associates
Asset Wisdom Limited	A Ordinary	35.5%	Asset management learning solutions

The loss for the financial period of Decision Support Tools Limited was £168,027 and the aggregate amount of capital and reserves at the end of the period was (£530,528).

Page 3

The Woodhouse Partnership Limited
Notes to the Abbreviated Accounts for the Year Ended 31 December 2013
......... continued

3	Share capital

Allotted, called up and fully paid shares

	2013						2012
		No.			£			No.			£
Ordinary share capital of £1 each		2,000			2,000			2,000			2,000

4

Control

The company is controlled by J W Woodhouse who has a beneficial interest in 100% of the called up share capital.

Page 4