REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2022 |
for |
WESTERN & MIDLAND INVESTMENTS LIMITED |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 March 2022 |
for |
WESTERN & MIDLAND INVESTMENTS LIMITED |
WESTERN & MIDLAND INVESTMENTS LIMITED (REGISTERED NUMBER: 01426183) |
Contents of the Financial Statements |
FOR THE YEAR ENDED 31 MARCH 2022 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
WESTERN & MIDLAND INVESTMENTS LIMITED |
Company Information |
FOR THE YEAR ENDED 31 MARCH 2022 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
WESTERN & MIDLAND INVESTMENTS LIMITED (REGISTERED NUMBER: 01426183) |
Balance Sheet |
31 MARCH 2022 |
2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Investments | 7 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 8 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
PROVISIONS FOR LIABILITIES |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps 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 Sections 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. |
WESTERN & MIDLAND INVESTMENTS LIMITED (REGISTERED NUMBER: 01426183) |
Balance Sheet - continued |
31 MARCH 2022 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
WESTERN & MIDLAND INVESTMENTS LIMITED (REGISTERED NUMBER: 01426183) |
Notes to the Financial Statements |
FOR THE YEAR ENDED 31 MARCH 2022 |
1. | STATUTORY INFORMATION |
Western & Midland Investments Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
In the light of the COVID-19 pandemic, the directors have concluded that the company is and remains a going concern based on the continued support of the directors and the companies under common control. |
Preparation of consolidated financial statements |
The financial statements contain information about Western & Midland Investments Ltd as an individual company and do not contain consolidated financial information as the parent of (a) subsidiary(ies). Western and Midland Investments Ltd is itself a subsidiary company of Returngain Ltd and the company and group as a whole have taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements. |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Tangible fixed assets |
Plant and machinery etc | - |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost less any provision for impairment. |
Taxation |
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
WESTERN & MIDLAND INVESTMENTS LIMITED (REGISTERED NUMBER: 01426183) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 MARCH 2022 |
2. | ACCOUNTING POLICIES - continued |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
Financial instruments |
Financial instruments are recognised in the balance sheet when the Group has become a party to the contractual provisions of the instruments. Financial instruments are classified as liabilities or equity in accordance with the substance of the contractual arrangement. Interest, dividends, gains and losses relating to a financial instrument classified as a liability, are reported as expense or income. Distributions to holders of financial instruments classified as equity are charged directly to equity. Financial instruments are offset when the Group has a legally enforceable right to offset and intends to settle either on a net basis or to realise the asset and settle the liability simultaneously. |
Investments |
Fixed asset investments are stated at cost unless, in the opinion of the Directors, there has been an impairment, in which case an appropriate adjustment is made. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
WESTERN & MIDLAND INVESTMENTS LIMITED (REGISTERED NUMBER: 01426183) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 MARCH 2022 |
4. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 April 2021 |
and 31 March 2022 |
DEPRECIATION |
At 1 April 2021 |
Charge for year |
At 31 March 2022 |
NET BOOK VALUE |
At 31 March 2022 |
At 31 March 2021 |
5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 April 2021 |
and 31 March 2022 |
PROVISIONS |
At 1 April 2021 |
and 31 March 2022 | 99 |
NET BOOK VALUE |
At 31 March 2022 |
At 31 March 2021 |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Registered office: Ferrari House, 258 Field End Road, Eastcote, Middlesex HA4 9UU |
Nature of business: |
% |
Class of shares: | holding |
2022 | 2021 |
£ | £ |
Aggregate capital and reserves | ( |
) | ( |
) |
Profit for the year |
WESTERN & MIDLAND INVESTMENTS LIMITED (REGISTERED NUMBER: 01426183) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 31 MARCH 2022 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Amounts owed by group undertakings |
Other debtors |
The balances due between the wholly owned group companies are guaranteed by P Marmot. |
7. | CURRENT ASSET INVESTMENTS |
2022 | 2021 |
£ | £ |
Listed investments | - | 139,363 |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
9. | ULTIMATE CONTROLLING PARTY |
The controlling party is Returngain Ltd, which is controlled by P Marmot. |