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REGISTERED NUMBER: 02992549 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Stuart Westmoreland (Holdings) Limited

Stuart Westmoreland (Holdings) Limited (Registered number: 02992549)






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


Stuart Westmoreland (Holdings) Limited

Company Information
for the year ended 31 March 2023







DIRECTORS: Mr Stuart Ronald Westmoreland
Mrs Julia Annette Westmoreland
Mr Richard James Westmoreland
Mrs Helen Elizabeth Healey





SECRETARY: Mr Stuart Ronald Westmoreland





REGISTERED OFFICE: Cawley House
149-155 Canal Street
Nottingham
Nottinghamshire
NG1 7HR





REGISTERED NUMBER: 02992549 (England and Wales)





ACCOUNTANTS: Clayton & Brewill
Chartered Accountants
Cawley House
149-155 Canal Street
Nottingham
Nottinghamshire
NG1 7HR

Stuart Westmoreland (Holdings) Limited (Registered number: 02992549)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 744,609 794,561
Investments 5 115,314 111,001
859,923 905,562

CURRENT ASSETS
Stocks 587,822 509,787
Debtors 6 20,156 29,178
Cash at bank and in hand 202,876 156,849
810,854 695,814
CREDITORS
Amounts falling due within one year 7 407,117 374,031
NET CURRENT ASSETS 403,737 321,783
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,263,660

1,227,345

PROVISIONS FOR LIABILITIES 38,583 45,052
NET ASSETS 1,225,077 1,182,293

CAPITAL AND RESERVES
Called up share capital 100,000 100,000
Revaluation reserve 8 343,820 343,820
Retained earnings 781,257 738,473
SHAREHOLDERS' FUNDS 1,225,077 1,182,293

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.

Stuart Westmoreland (Holdings) Limited (Registered number: 02992549)

Balance Sheet - continued
31 March 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 Board of Directors and authorised for issue on 26 October 2023 and were signed on its behalf by:





Mr Richard James Westmoreland - Director


Stuart Westmoreland (Holdings) Limited (Registered number: 02992549)

Notes to the Financial Statements
for the year ended 31 March 2023

1. STATUTORY INFORMATION

Stuart Westmoreland (Holdings) 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.

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.
Land and buildings - 2% of cost or valuation
Plant and machinery etc - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 (2022 - 21 ) .

Stuart Westmoreland (Holdings) Limited (Registered number: 02992549)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Freehold Long Plant and
property leasehold machinery
£    £    £   
COST OR VALUATION
At 1 April 2022 610,000 135,000 176,395
Additions - - 8,115
Disposals - - (45,647 )
At 31 March 2023 610,000 135,000 138,863
DEPRECIATION
At 1 April 2022 32,533 7,200 135,914
Charge for year 12,200 2,700 15,731
Eliminated on disposal - - (38,717 )
At 31 March 2023 44,733 9,900 112,928
NET BOOK VALUE
At 31 March 2023 565,267 125,100 25,935
At 31 March 2022 577,467 127,800 40,481

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST OR VALUATION
At 1 April 2022 141,193 94,917 1,157,505
Additions 684 - 8,799
Disposals - (11,650 ) (57,297 )
At 31 March 2023 141,877 83,267 1,109,007
DEPRECIATION
At 1 April 2022 131,492 55,805 362,944
Charge for year 8,839 12,351 51,821
Eliminated on disposal - (11,650 ) (50,367 )
At 31 March 2023 140,331 56,506 364,398
NET BOOK VALUE
At 31 March 2023 1,546 26,761 744,609
At 31 March 2022 9,701 39,112 794,561

Cost or valuation at 31 March 2023 is represented by:

Freehold Long Plant and
property leasehold machinery
£    £    £   
Valuation in 2011 47,018 - -
Valuation in 2020 90,551 117,014 -
Cost 472,431 17,986 138,863
610,000 135,000 138,863

Stuart Westmoreland (Holdings) Limited (Registered number: 02992549)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

4. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
Valuation in 2011 - - 47,018
Valuation in 2020 - - 207,565
Cost 141,877 83,267 854,424
141,877 83,267 1,109,007

If Freehold and long leasehold had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 489,658 489,658
Aggregate depreciation 92,796 92,796

Value of land in freehold land and buildings 582,454 582,454

Freehold and long leasehold were valued on an open market basis basis on 5 August 2019 by Nigel G Carlisle BSc FRICS .

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 April 2022 111,001
Additions 10,303
Impairments (5,990 )
At 31 March 2023 115,314
NET BOOK VALUE
At 31 March 2023 115,314
At 31 March 2022 111,001

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 15,822 22,037
Prepayments and accrued income 4,334 7,141
20,156 29,178

Stuart Westmoreland (Holdings) Limited (Registered number: 02992549)

Notes to the Financial Statements - continued
for the year ended 31 March 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 32,389 42,094
Trade creditors 274,408 174,454
Corporation tax 23,648 25,763
Social security and other taxes 9,429 17,569
VAT liability 19,270 15,656
Other creditors 40,681 72,394
Directors' current accounts 131 20,131
Accrued expenses 7,161 5,970
407,117 374,031

8. RESERVES
Revaluation
reserve
£   
At 1 April 2022
and 31 March 2023 343,820