IRIS Accounts Production v23.3.0.418 13130212 Board of Directors Board of Directors 1.4.22 31.3.23 31.3.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure131302122022-03-31131302122023-03-31131302122022-04-012023-03-31131302122021-01-12131302122021-01-132022-03-31131302122022-03-3113130212ns16:EnglandWales2022-04-012023-03-3113130212ns15:PoundSterling2022-04-012023-03-3113130212ns11:Director12022-04-012023-03-3113130212ns11:Director22022-04-012023-03-3113130212ns11:PrivateLimitedCompanyLtd2022-04-012023-03-3113130212ns11:SmallEntities2022-04-012023-03-3113130212ns11:AuditExempt-NoAccountantsReport2022-04-012023-03-3113130212ns11:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3113130212ns11:SmallCompaniesRegimeForAccounts2022-04-012023-03-3113130212ns11:FullAccounts2022-04-012023-03-3113130212ns11:RegisteredOffice2022-04-012023-03-3113130212ns6:CurrentFinancialInstruments2023-03-3113130212ns6:CurrentFinancialInstruments2022-03-3113130212ns6:Non-currentFinancialInstruments2023-03-3113130212ns6:Non-currentFinancialInstruments2022-03-3113130212ns6:ShareCapital2023-03-3113130212ns6:ShareCapital2022-03-3113130212ns6:RetainedEarningsAccumulatedLosses2023-03-3113130212ns6:RetainedEarningsAccumulatedLosses2022-03-3113130212ns6:PlantMachinery2022-04-012023-03-3113130212ns6:MotorVehicles2022-04-012023-03-3113130212ns6:ComputerEquipment2022-04-012023-03-3113130212ns6:PlantMachinery2022-03-3113130212ns6:MotorVehicles2022-03-3113130212ns6:ComputerEquipment2022-03-3113130212ns6:PlantMachinery2023-03-3113130212ns6:MotorVehicles2023-03-3113130212ns6:ComputerEquipment2023-03-3113130212ns6:PlantMachinery2022-03-3113130212ns6:MotorVehicles2022-03-3113130212ns6:ComputerEquipment2022-03-3113130212ns6:WithinOneYearns6:CurrentFinancialInstruments2023-03-3113130212ns6:WithinOneYearns6:CurrentFinancialInstruments2022-03-31
REGISTERED NUMBER: 13130212 (England and Wales)















Westhaven Developments Limited

Unaudited Financial Statements for the Year Ended 31 March 2023






Westhaven Developments Limited (Registered number: 13130212)

Contents of the Financial Statements
for the Year Ended 31 March 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Westhaven Developments Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: L A Hopper
H E H St George





REGISTERED OFFICE: 3 Southernhay West
Exeter
Devon
EX1 1JG





REGISTERED NUMBER: 13130212 (England and Wales)





ACCOUNTANTS: Haines Watts Accountants (Exeter) Limited
3 Southernhay West
Exeter
Devon
EX1 1JG

Westhaven Developments Limited (Registered number: 13130212)

Balance Sheet
31 March 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 5 34,803 3,862

CURRENT ASSETS
Stocks 1,421,231 776,251
Debtors 6 131,929 297,922
Cash at bank 65,594 103,438
1,618,754 1,177,611
CREDITORS
Amounts falling due within one year 7 (888,642 ) (671,405 )
NET CURRENT ASSETS 730,112 506,206
TOTAL ASSETS LESS CURRENT
LIABILITIES

764,915

510,068

CREDITORS
Amounts falling due after more than one
year

8

(575,000

)

(500,000

)
NET ASSETS 189,915 10,068

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 188,915 9,068
189,915 10,068

Westhaven Developments Limited (Registered number: 13130212)

Balance Sheet - continued
31 March 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 October 2023 and were signed on its behalf by:




H E H St George - Director



L A Hopper - Director


Westhaven Developments Limited (Registered number: 13130212)

Notes to the Financial Statements
for the Year Ended 31 March 2023


1. STATUTORY INFORMATION

Westhaven Developments Limited 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 (£).


The principal place of business is 44 Ennors Road, Newquay, Cornwall TR7 1RB

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Residential properties and land

Turnover is recognised at legal completion in respect of the total proceeds of building and land sales.
Turnover is measured at the fair value of consideration received or receivable and represents the
amounts receivable for the property, net of VAT.

Construction contracts

Turnover is only recognised on a construction contract where the outcome can be estimated reliably.
Turnover and costs are recognised by reference to the stage of completion of contract activity at the
year-end date. This is normally measured by surveys of work performed to date. Contracts are only
treated as construction contracts where they have been specifically negotiated for the construction of
a property.

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% straight line
Motor vehicles - 25% reducing balance
Computer equipment - 25% straight line

Stocks
Stock and work in progress are valued at the lower of cost and estimated selling price less costs to complete and sell; which is equivalent to the net realisable value. Costs comprise direct materials, direct labour costs and those overheads which have been incurred in bringing the stocks to their present location and condition. Management assess the costs and where required will provide against the stock.

Properties held for sale are stated at the lower of cost and net realisable value.

Westhaven Developments Limited (Registered number: 13130212)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


3. ACCOUNTING POLICIES - continued

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.

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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2022 5,150 - - 5,150
Additions 4,975 27,795 833 33,603
At 31 March 2023 10,125 27,795 833 38,753
DEPRECIATION
At 1 April 2022 1,288 - - 1,288
Charge for year 1,910 579 173 2,662
At 31 March 2023 3,198 579 173 3,950
NET BOOK VALUE
At 31 March 2023 6,927 27,216 660 34,803
At 31 March 2022 3,862 - - 3,862

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts recoverable on contract 66,320 90,514
Directors' current accounts - 35,500
VAT 56,277 9,189
Prepayments 9,332 1,969
Other Debtors - 160,750
131,929 297,922

Westhaven Developments Limited (Registered number: 13130212)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other loans 653,045 536,334
Trade creditors 114,498 1,296
Tax 1,888 1,160
Social security and other taxes 16,789 3,787
Directors' current accounts 30,323 19,500
Accruals and deferred income 72,099 109,328
888,642 671,405

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Directors' loan accounts 575,000 500,000

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Loan 246,964 536,334

There is a mortgage deed with Jameson Homes Limited dated 11 August 2021 over the property known as 12 Trethiggey Crescent, Quintrell Downs, Newquay, Cornwall TR8 4LF.

There is a mortgage deed with Jameson Homes Limited dated 22 September 2022 over the property known as St Meubred's Cottage, Cardinham, Bodmin PL30 4BL.

10. RELATED PARTY DISCLOSURES

There is a loan from a Director totalling £500,000 (2022 - £500,000) at the year end. There is interest accruing on this loan, charged to the profit and loss account for the period in which it relates.

There is a loan from a Director totalling £75,000 (2022 - £nil) at the year end.There is interest accruing on this loan, charged to the profit and loss account for the period in which it relates.

During the year, a director had a current account with the company. At the balance sheet date the amount due from the company is £29,500 (2022 - £19,500).

During the year, a director had a current account with the company. At the balance sheet date the amount due to the company is £823 (2022 - £35,500 overdrawn).