IRIS Accounts Production v22.2.0.402 07682416 Board of Directors 1.3.21 28.2.22 28.2.22 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure076824162021-02-28076824162022-02-28076824162021-03-012022-02-28076824162020-02-28076824162020-02-292021-02-28076824162021-02-2807682416ns16:EnglandWales2021-03-012022-02-2807682416ns15:PoundSterling2021-03-012022-02-2807682416ns11:Director12021-03-012022-02-2807682416ns11:PrivateLimitedCompanyLtd2021-03-012022-02-2807682416ns11:SmallEntities2021-03-012022-02-2807682416ns11:AuditExempt-NoAccountantsReport2021-03-012022-02-2807682416ns11:SmallCompaniesRegimeForDirectorsReport2021-03-012022-02-2807682416ns11:SmallCompaniesRegimeForAccounts2021-03-012022-02-2807682416ns11:FullAccounts2021-03-012022-02-2807682416ns11:Director22021-03-012022-02-2807682416ns11:Director32021-03-012022-02-2807682416ns11:Director42021-03-012022-02-2807682416ns11:RegisteredOffice2021-03-012022-02-2807682416ns6:CurrentFinancialInstruments2022-02-2807682416ns6:CurrentFinancialInstruments2021-02-2807682416ns6:Non-currentFinancialInstruments2022-02-2807682416ns6:Non-currentFinancialInstruments2021-02-2807682416ns6:ShareCapital2022-02-2807682416ns6:ShareCapital2021-02-2807682416ns6:RetainedEarningsAccumulatedLosses2022-02-2807682416ns6:RetainedEarningsAccumulatedLosses2021-02-2807682416ns6:PlantMachinery2021-03-012022-02-2807682416ns6:PlantMachinery2021-02-2807682416ns6:MotorVehicles2021-02-2807682416ns6:ComputerEquipment2021-02-2807682416ns6:MotorVehicles2021-03-012022-02-2807682416ns6:ComputerEquipment2021-03-012022-02-2807682416ns6:PlantMachinery2022-02-2807682416ns6:MotorVehicles2022-02-2807682416ns6:ComputerEquipment2022-02-2807682416ns6:PlantMachinery2021-02-2807682416ns6:MotorVehicles2021-02-2807682416ns6:ComputerEquipment2021-02-2807682416ns6:WithinOneYearns6:CurrentFinancialInstruments2022-02-2807682416ns6:WithinOneYearns6:CurrentFinancialInstruments2021-02-2807682416ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2022-02-2807682416ns6:BetweenOneTwoYearsns6:Non-currentFinancialInstruments2021-02-2807682416ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2022-02-2807682416ns6:BetweenTwoFiveYearsns6:Non-currentFinancialInstruments2021-02-2807682416ns6:MoreThanFiveYearsns6:Non-currentFinancialInstruments2022-02-2807682416ns6:MoreThanFiveYearsns6:Non-currentFinancialInstruments2021-02-28
REGISTERED NUMBER: 07682416 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2022

FOR

WESTABY'S LIMITED

WESTABY'S LIMITED (REGISTERED NUMBER: 07682416)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 28 February 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WESTABY'S LIMITED

COMPANY INFORMATION
for the Year Ended 28 February 2022







DIRECTORS: J R L Westaby
Mrs A H E Westaby
A J Westaby
E J Westaby





REGISTERED OFFICE: Cape Farm
Sheriff Hutton
York
YO60 6RT





REGISTERED NUMBER: 07682416 (England and Wales)





ACCOUNTANTS: Sowerby
Chartered Accountants
Beckside Court
Annie Reed Road
Beverley
East Yorkshire
HU17 0LF

WESTABY'S LIMITED (REGISTERED NUMBER: 07682416)

BALANCE SHEET
28 February 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 155,639 117,765

CURRENT ASSETS
Stocks 37,509 16,825
Debtors 5 276,330 346,470
Cash at bank and in hand 394,920 292,609
708,759 655,904
CREDITORS
Amounts falling due within one year 6 513,220 444,777
NET CURRENT ASSETS 195,539 211,127
TOTAL ASSETS LESS CURRENT
LIABILITIES

351,178

328,892

CREDITORS
Amounts falling due after more than one year 7 (92,396 ) (118,000 )

PROVISIONS FOR LIABILITIES (27,848 ) (19,133 )
NET ASSETS 230,934 191,759

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 230,834 191,659
SHAREHOLDERS' FUNDS 230,934 191,759

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2022 in accordance with Section 476 of the Companies Act 2006.

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.

WESTABY'S LIMITED (REGISTERED NUMBER: 07682416)

BALANCE SHEET - continued
28 February 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2022 and were signed on its behalf by:





Mrs A H E Westaby - Director


WESTABY'S LIMITED (REGISTERED NUMBER: 07682416)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 28 February 2022


1. STATUTORY INFORMATION

Westaby's Limited is a private company limited by shares and incorporated and domiciled in England. It has its registered office and principal place of business at Cape Farm, Sheriff Hutton, York, YO60 6RT.

The principal activity of the company is engineering including retail of associated parts.

The presentational currency of the financial statements is Pound Sterling (£).

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Having regard to liquidity risk, current market conditions and other factors affecting the company, the use of the going concern basis of accounting is appropriate as, in the opinion of the directors, there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

Turnover
Turnover is the amount derived from ordinary activities, measured at the fair value of the consideration received or receivable. Turnover excludes value added tax and trade discounts.

Turnover from the sale of goods is recognised at the point of sale.

Turnover from services is recognised on completion of service, or when those services span the year end date, by reference to the stage of completion at the balance sheet date.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 33% on reducing balance, 25% on a reducing balance basis and 15% on reducing balance

Stocks
Stocks are measured at the lower of cost, using the first in first out method, and selling price less costs to complete and sell.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


WESTABY'S LIMITED (REGISTERED NUMBER: 07682416)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 February 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Effects of covid-19
Having regard to liquidity risk, current market conditions and other factors affecting the company including the impact of Covid-19, the use of the going concern basis of accounting is appropriate as, in the opinion of the directors, there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2021 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 March 2021 130,494 65,261 2,152 197,907
Additions 52,859 10,995 - 63,854
At 28 February 2022 183,353 76,256 2,152 261,761
DEPRECIATION
At 1 March 2021 37,877 41,116 1,149 80,142
Charge for year 17,321 8,328 331 25,980
At 28 February 2022 55,198 49,444 1,480 106,122
NET BOOK VALUE
At 28 February 2022 128,155 26,812 672 155,639
At 28 February 2021 92,617 24,145 1,003 117,765

WESTABY'S LIMITED (REGISTERED NUMBER: 07682416)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 28 February 2022


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 173,472 237,497
Amounts owed by group undertakings 102,130 105,473
Prepayments 728 3,500
276,330 346,470

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Bank loans and overdrafts 26,576 23,495
Trade creditors 248,416 220,683
Tax 19,475 23,677
Social security and other taxes 3,052 5,725
VAT 17,756 14,066
Other creditors 746 731
Directors' current accounts 187,110 148,337
Accrued expenses 10,089 8,063
513,220 444,777

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2022 2021
£    £   
Bank loans - 1-2 years 27,555 24,495
Bank loans - 2-5 years 64,841 73,486
Bank loans more 5 yr by instal - 20,019
92,396 118,000

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal - 20,019

8. RELATED PARTY DISCLOSURES

At the balance sheet date the company owed its directors £187,110 (2021: £148,337). The loan is free from interest and repayable on demand.

The company operates from premises owned by an unincorporated partnership of which the directors are both partners. The company is responsible for the expenses incurred while operating from these premises but pays no rent.