Company registration number:
09978281
Westfield Properties Commercial Limited
Unaudited filleted financial statements
31 January 2023
Westfield Properties Commercial Limited
Directors and other information
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Directors |
Mr M Wilson |
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Mrs S Wilson |
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Company number |
09978281 |
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Registered office |
Heritage Exchange |
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South Lane |
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Elland |
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HX5 0HG |
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Business address |
2 Stansfield Road |
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Todmorden |
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Lancashire |
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OL14 5DL |
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Accountants |
Hodgson Hey Limited |
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Heritage Exchange |
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South Lane |
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Elland |
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HX5 0HG |
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Westfield Properties Commercial Limited
Statement of financial position
31 January 2023
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2023 |
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2022 |
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Note |
£ |
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£ |
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£ |
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£ |
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Fixed assets |
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Investments |
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5 |
1,268,867 |
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1,268,867 |
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_______ |
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_______ |
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1,268,867 |
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1,268,867 |
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Creditors: amounts falling due |
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within one year |
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6 |
(
101,606) |
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(
177,353) |
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_______ |
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_______ |
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Net current liabilities |
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(
101,606) |
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(
177,353) |
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_______ |
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_______ |
Total assets less current liabilities |
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1,167,261 |
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1,091,514 |
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Creditors: amounts falling due |
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after more than one year |
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7 |
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(
1,052,000) |
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(
1,052,000) |
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_______ |
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_______ |
Net assets |
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115,261 |
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39,514 |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
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100 |
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100 |
Profit and loss account |
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115,161 |
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39,414 |
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_______ |
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_______ |
Shareholders funds |
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115,261 |
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39,514 |
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_______ |
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_______ |
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For the year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
23 October 2023
, and are signed on behalf of the board by:
Mr M Wilson
Director
Company registration number:
09978281
Westfield Properties Commercial Limited
Notes to the financial statements
Year ended 31 January 2023
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Westfield Properties Commercial Limited, Heritage Exchange, South Lane, Elland, HX5 0HG.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Investment property
Investment property is measured initially at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2022: Nil).
5.
Investments
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Other investments other than loans |
Total |
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£ |
£ |
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Cost |
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At 1 February 2022 and 31 January 2023 |
1,268,867 |
1,268,867 |
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_______ |
_______ |
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Impairment |
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At 1 February 2022 and 31 January 2023 |
- |
- |
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_______ |
_______ |
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Carrying amount |
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At 31 January 2023 |
1,268,867 |
1,268,867 |
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_______ |
_______ |
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At 31 January 2022 |
1,268,867 |
1,268,867 |
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_______ |
_______ |
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6.
Creditors: amounts falling due within one year
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2023 |
2022 |
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£ |
£ |
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Bank loans and overdrafts |
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62,316 |
74,419 |
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Trade creditors |
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1,117 |
956 |
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Corporation tax |
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17,768 |
2,591 |
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Other creditors |
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20,405 |
99,387 |
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_______ |
_______ |
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101,606 |
177,353 |
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_______ |
_______ |
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7.
Creditors: amounts falling due after more than one year
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2023 |
2022 |
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£ |
£ |
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Bank loans and overdrafts |
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1,052,000 |
1,052,000 |
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_______ |
_______ |
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Bank borrowings are secured against the assets of the company.
8.
Directors advances, credits and guarantees
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During the year the directors entered into the following advances and credits with the company: |
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2023 |
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Balance brought forward |
Advances /(credits) to the directors |
Balance o/standing |
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£ |
£ |
£ |
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Mr M Wilson |
(
45,980) |
43,549 |
(
2,431) |
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Mrs S Wilson |
(
45,980) |
43,548 |
(
2,432) |
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_______ |
_______ |
_______ |
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(
91,960) |
87,097 |
(
4,863) |
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_______ |
_______ |
_______ |
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2022 |
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Balance brought forward |
Advances /(credits) to the directors |
Balance o/standing |
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£ |
£ |
£ |
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Mr M Wilson |
(
52,831) |
6,851 |
(
45,980) |
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Mrs S Wilson |
(
52,830) |
6,850 |
(
45,980) |
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_______ |
_______ |
_______ |
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(
105,661) |
13,701 |
(
91,960) |
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_______ |
_______ |
_______ |
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9.
Controlling party
The company was controlled throughout the year by the directors who own 100% of the Issued Share Capital.