Silverfin false 31/03/2023 01/10/2022 31/03/2023 A Lehner 01/09/2014 30 October 2023 The principal activity of the Company during the financial year was property development. 09197448 2023-03-31 09197448 bus:Director1 2023-03-31 09197448 2022-09-30 09197448 core:CurrentFinancialInstruments 2023-03-31 09197448 core:CurrentFinancialInstruments 2022-09-30 09197448 core:ShareCapital 2023-03-31 09197448 core:ShareCapital 2022-09-30 09197448 core:RetainedEarningsAccumulatedLosses 2023-03-31 09197448 core:RetainedEarningsAccumulatedLosses 2022-09-30 09197448 core:OtherPropertyPlantEquipment 2022-09-30 09197448 core:OtherPropertyPlantEquipment 2023-03-31 09197448 2022-10-01 2023-03-31 09197448 bus:FullAccounts 2022-10-01 2023-03-31 09197448 bus:SmallEntities 2022-10-01 2023-03-31 09197448 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-03-31 09197448 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-03-31 09197448 bus:Director1 2022-10-01 2023-03-31 09197448 core:OtherPropertyPlantEquipment core:TopRangeValue 2022-10-01 2023-03-31 09197448 2021-10-01 2022-09-30 09197448 core:OtherPropertyPlantEquipment 2022-10-01 2023-03-31 iso4217:GBP xbrli:pure

Company No: 09197448 (England and Wales)

WEST OF ENGLAND DEVELOPMENTS (TAUNTON) NO2 LIMITED

Unaudited Financial Statements
For the financial period from 01 October 2022 to 31 March 2023
Pages for filing with the registrar

WEST OF ENGLAND DEVELOPMENTS (TAUNTON) NO2 LIMITED

Unaudited Financial Statements

For the financial period from 01 October 2022 to 31 March 2023

Contents

WEST OF ENGLAND DEVELOPMENTS (TAUNTON) NO2 LIMITED

COMPANY INFORMATION

For the financial period from 01 October 2022 to 31 March 2023
WEST OF ENGLAND DEVELOPMENTS (TAUNTON) NO2 LIMITED

COMPANY INFORMATION (continued)

For the financial period from 01 October 2022 to 31 March 2023
DIRECTOR A Lehner
REGISTERED OFFICE Kibbear House
Trull
Taunton
TA3 7LN
United Kingdom
COMPANY NUMBER 09197448 (England and Wales)
CHARTERED ACCOUNTANTS Albert Goodman LLP
Goodwood House
Blackbrook Park Avenue
Taunton
Somerset
TA1 2PX
WEST OF ENGLAND DEVELOPMENTS (TAUNTON) NO2 LIMITED

BALANCE SHEET

As at 31 March 2023
WEST OF ENGLAND DEVELOPMENTS (TAUNTON) NO2 LIMITED

BALANCE SHEET (continued)

As at 31 March 2023
Note 31.03.2023 30.09.2022
£ £
Fixed assets
Tangible assets 3 2,592 0
2,592 0
Current assets
Stocks 4 1,605,021 2,785,646
Debtors 5 5,430,913 4,358,239
Cash at bank and in hand 7,464,081 3,823,095
14,500,015 10,966,980
Creditors: amounts falling due within one year 6 ( 9,347,064) ( 9,105,350)
Net current assets 5,152,951 1,861,630
Total assets less current liabilities 5,155,543 1,861,630
Net assets 5,155,543 1,861,630
Capital and reserves
Called-up share capital 100 100
Profit and loss account 5,155,443 1,861,530
Total shareholder's funds 5,155,543 1,861,630

For the financial period ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of West of England Developments (Taunton) No2 Limited (registered number: 09197448) were approved and authorised for issue by the Director on 30 October 2023. They were signed on its behalf by:

A Lehner
Director
WEST OF ENGLAND DEVELOPMENTS (TAUNTON) NO2 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 October 2022 to 31 March 2023
WEST OF ENGLAND DEVELOPMENTS (TAUNTON) NO2 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 October 2022 to 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

West of England Developments (Taunton) No2 Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Kibbear House, Trull, Taunton, TA3 7LN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks

Work in progress is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Ordinary share capital

The ordinary share capital of the Company is presented as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis

2. Employees

Period from
01.10.2022 to
31.03.2023
Year ended
30.09.2022
Number Number
Monthly average number of persons employed by the Company during the period, including the director 1 1

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 October 2022 40,997 40,997
Additions 2,788 2,788
At 31 March 2023 43,785 43,785
Accumulated depreciation
At 01 October 2022 40,997 40,997
Charge for the financial period 196 196
At 31 March 2023 41,193 41,193
Net book value
At 31 March 2023 2,592 2,592
At 30 September 2022 0 0

4. Stocks

31.03.2023 30.09.2022
£ £
Work in progress 1,605,021 2,785,646

5. Debtors

31.03.2023 30.09.2022
£ £
Trade debtors 3,859,682 3,732
Other debtors 1,571,231 4,354,507
5,430,913 4,358,239

6. Creditors: amounts falling due within one year

31.03.2023 30.09.2022
£ £
Trade creditors 37,286 65,340
Taxation and social security 772,223 337
Other creditors 8,537,555 9,039,673
9,347,064 9,105,350