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REGISTERED NUMBER: 09987991 (England and Wales)















Unaudited Financial Statements for the Year Ended 28 February 2023

for

Weston & Elliott Ltd

Weston & Elliott Ltd (Registered number: 09987991)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Weston & Elliott Ltd

Company Information
for the Year Ended 28 February 2023







DIRECTOR: G Elliott





REGISTERED OFFICE: 26 Warren Drive
Caerphilly
CF83 1HQ





REGISTERED NUMBER: 09987991 (England and Wales)





ACCOUNTANTS: ABC Accounting Services
1 Willoughton Place
Wharton Close
Gainsborough
Lincolnshire
DN21 1EB

Weston & Elliott Ltd (Registered number: 09987991)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 33,572 31,592
Investment property 5 565,000 555,000
598,572 586,592

CURRENT ASSETS
Debtors 6 796 995
Cash at bank 12,545 92,869
13,341 93,864
CREDITORS
Amounts falling due within one year 7 74,147 131,596
NET CURRENT LIABILITIES (60,806 ) (37,732 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

537,766

548,860

CREDITORS
Amounts falling due after more than one
year

8

(236,351

)

(257,639

)

PROVISIONS FOR LIABILITIES (61,234 ) (58,958 )
NET ASSETS 240,181 232,263

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 240,179 232,261
SHAREHOLDERS' FUNDS 240,181 232,263

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Weston & Elliott Ltd (Registered number: 09987991)

Balance Sheet - continued
28 February 2023


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 director and authorised for issue on 11 November 2023 and were signed by:





G Elliott - Director


Weston & Elliott Ltd (Registered number: 09987991)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Weston & Elliott 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.

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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Full provision has been made on the gains arising from the fair value review of the investment properties.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

Weston & Elliott Ltd (Registered number: 09987991)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 March 2022 2,600 48,495 7,733 58,828
Additions 13,500 - - 13,500
At 28 February 2023 16,100 48,495 7,733 72,328
DEPRECIATION
At 1 March 2022 1,391 21,217 4,628 27,236
Charge for year 3,677 6,819 1,024 11,520
At 28 February 2023 5,068 28,036 5,652 38,756
NET BOOK VALUE
At 28 February 2023 11,032 20,459 2,081 33,572
At 28 February 2022 1,209 27,278 3,105 31,592

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 March 2022
and 28 February 2023 48,495
DEPRECIATION
At 1 March 2022 21,217
Charge for year 6,819
At 28 February 2023 28,036
NET BOOK VALUE
At 28 February 2023 20,459
At 28 February 2022 27,278

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2022 555,000
Revaluations 10,000
At 28 February 2023 565,000
NET BOOK VALUE
At 28 February 2023 565,000
At 28 February 2022 555,000

Weston & Elliott Ltd (Registered number: 09987991)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

5. INVESTMENT PROPERTY - continued

Fair value at 28 February 2023 is represented by:
£   
Valuation in 2017 276,287
Valuation in 2018 65,000
Valuation in 2021 193,413
Valuation in 2022 20,300
Valuation in 2023 10,000
565,000

If investment property had not been revalued it would have been included at the following historical cost:

28.2.23 28.2.22
£    £   
Cost 276,288 276,288

Investment property was valued on an open market basis on 28 February 2023 by the director .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Prepayments 796 995

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Other loans 5,000 5,000
Hire purchase contracts 5,999 5,999
Tax 6,642 13,138
Directors' current accounts 55,787 106,743
Accrued expenses 719 716
74,147 131,596

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Bank loans - 1-2 years 9,844 9,844
Bank loans - 2-5 years 16,074 16,074
Bank loans more 5 yr by instal 166,287 172,976
Other loans - 1-2 years 5,000 5,000
Other loans - 2-5 years 17,950 26,550
Hire purchase contracts 21,196 27,195
236,351 257,639

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 166,287 172,976

Weston & Elliott Ltd (Registered number: 09987991)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

28.2.23 28.2.22
£    £   
Bank loans 192,205 198,894

10. ULTIMATE CONTROLLING PARTY

The controlling party is G Elliott.

At the balance sheet date the amount owed by the company to the director was £55,787 (2022 - £106,743).