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REGISTERED NUMBER: 12342724 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022

FOR

WESTGATE EFI GLOBAL LTD

WESTGATE EFI GLOBAL LTD (REGISTERED NUMBER: 12342724)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2022




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WESTGATE EFI GLOBAL LTD

COMPANY INFORMATION
for the Year Ended 31 December 2022







DIRECTORS: Mr D L Mitson
Mrs V L Mitson





REGISTERED OFFICE: 4 Grovelands
Boundary Way
Hemel Hempstead
Hertfordshire
HP2 7TE





REGISTERED NUMBER: 12342724 (England and Wales)





ACCOUNTANTS: Kings Chartered Accountants
4 Grovelands
Boundary Way
Hemel Hempstead
Hertfordshire
HP2 7TE

WESTGATE EFI GLOBAL LTD (REGISTERED NUMBER: 12342724)

BALANCE SHEET
31 December 2022

31.12.22 31.12.21
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 12,203 12,694

CURRENT ASSETS
Debtors 5 55,114 54,897
Cash at bank 2,971 8,961
58,085 63,858
CREDITORS
Amounts falling due within one year 6 635,700 422,306
NET CURRENT LIABILITIES (577,615 ) (358,448 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(565,412

)

(345,754

)

PROVISIONS FOR LIABILITIES 7 2,318 2,412
NET LIABILITIES (567,730 ) (348,166 )

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings (567,830 ) (348,266 )
SHAREHOLDERS' FUNDS (567,730 ) (348,166 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

WESTGATE EFI GLOBAL LTD (REGISTERED NUMBER: 12342724)

BALANCE SHEET - continued
31 December 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2023 and were signed on its behalf by:





Mr D L Mitson - Director


WESTGATE EFI GLOBAL LTD (REGISTERED NUMBER: 12342724)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

Westgate EFI Global Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the 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.

The accounts have been prepared on a going concern basis which assumes that the company will continue to trade. The validity of this assumption is dependent on sufficient and continuing financial support being made available by the company's director and the creditors. If the company were unable to continue to trade adjustments would have to be made to reduce the value of assets to their realisable amount, to reclassify fixed assets as current assets, and to provide for any further liabilities that may arise.

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 - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance
Computer equipment - Straight line over 3 years

WESTGATE EFI GLOBAL LTD (REGISTERED NUMBER: 12342724)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2022

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including loans from fellow group undertakings, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.


WESTGATE EFI GLOBAL LTD (REGISTERED NUMBER: 12342724)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
COST
At 1 January 2022 8,531 8,734 1,565 18,830
Additions - 4,010 - 4,010
At 31 December 2022 8,531 12,744 1,565 22,840
DEPRECIATION
At 1 January 2022 2,666 2,687 783 6,136
Charge for year 1,466 2,514 521 4,501
At 31 December 2022 4,132 5,201 1,304 10,637
NET BOOK VALUE
At 31 December 2022 4,399 7,543 261 12,203
At 31 December 2021 5,865 6,047 782 12,694

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Value added tax 8,425 8,418
Prepayments 46,689 46,479
55,114 54,897

WESTGATE EFI GLOBAL LTD (REGISTERED NUMBER: 12342724)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 December 2022

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.22 31.12.21
£    £   
Trade creditors 8,061 4,981
Amounts owed to group undertakings 626,860 416,066
Accruals 779 1,259
635,700 422,306

7. PROVISIONS FOR LIABILITIES
31.12.22 31.12.21
£    £   
Deferred tax
Accelerated capital allowances 2,318 2,412

Deferred
tax
£   
Balance at 1 January 2022 2,412
Provided during year (94 )
Balance at 31 December 2022 2,318

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.22 31.12.21
value: £    £   
100 Ordinary £1 100 100

9. ULTIMATE CONTROLLING PARTY

The controlling party is HLM Group Ltd.

HLM Group Ltd owns 100% of the shares of Westgate EFI Global Ltd. This company is limited by shares and
registered in England and Wales and is the ultimate controlling party. The company's registered address is 4 Grovelands Boundary Way, Hemel Hempstead, Hertfordshire, England, HP2 7TE