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REGISTERED NUMBER: 05482687 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

Westlands Holdings Limited

Westlands Holdings Limited (Registered number: 05482687)






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


Westlands Holdings Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: R N Lewis
P A Lewis





REGISTERED OFFICE: Moorland Business Park
Moorland Road
Indian Queens
Cornwall
TR9 6HJ





REGISTERED NUMBER: 05482687 (England and Wales)





ACCOUNTANTS: Wills Bingley Limited
Chartered Accountants
St Denys House
22 East Hill
St. Austell
Cornwall
PL25 4TR

Westlands Holdings Limited (Registered number: 05482687)

Balance Sheet
31 March 2023

31/3/23 31/3/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,932 11,506
Investments 5 349,934 349,934
Investment property 6 918,918 918,918
1,275,784 1,280,358

CURRENT ASSETS
Debtors 7 207 -
Cash at bank 157,394 97,069
157,601 97,069
CREDITORS
Amounts falling due within one year 8 555,482 466,458
NET CURRENT LIABILITIES (397,881 ) (369,389 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

877,903

910,969

CREDITORS
Amounts falling due after more than one
year

9

(483,419

)

(507,301

)

PROVISIONS FOR LIABILITIES 10 (9,456 ) (10,325 )
NET ASSETS 385,028 393,343

CAPITAL AND RESERVES
Called up share capital 11 5,003 5,003
Share premium 344,931 344,931
Retained earnings 35,094 43,409
SHAREHOLDERS' FUNDS 385,028 393,343

Westlands Holdings Limited (Registered number: 05482687)

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 20 November 2023 and were signed on its behalf by:





R N Lewis - Director


Westlands Holdings Limited (Registered number: 05482687)

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

1. STATUTORY INFORMATION

Westlands 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" and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the fundamental currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.

The financial statements have been prepared under the historical cost convention, with the exception of investment properties that are measured at fair value.The principal accounting policies adopted are set out below.

The company have taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents the total invoice value, excluding value added tax, of holiday rentals made during the period. Rental income is recognised in the period in which the rental took place.

Tangible fixed assets
Depreciation is provided at the following annual rate in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures & Fittings - 15% straight line

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 the profit and loss.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.


Westlands Holdings Limited (Registered number: 05482687)

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

2. ACCOUNTING POLICIES - continued
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.

Going concern
Notwithstanding the net current liabilities of £397,881 (2022 : £369,389), at the time of approving financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. In particular, amounts owed to group undertakings of £502,639 (2022:£422,610) are not required to be paid until the company has sufficient funds available.Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022
and 31 March 2023 32,120
DEPRECIATION
At 1 April 2022 20,614
Charge for year 4,574
At 31 March 2023 25,188
NET BOOK VALUE
At 31 March 2023 6,932
At 31 March 2022 11,506

Westlands Holdings Limited (Registered number: 05482687)

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

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakin
£   
COST
At 1 April 2022
and 31 March 2023 349,934
NET BOOK VALUE
At 31 March 2023 349,934
At 31 March 2022 349,934

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 918,918
NET BOOK VALUE
At 31 March 2023 918,918
At 31 March 2022 918,918

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Other debtors 207 -

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/3/23 31/3/22
£    £   
Bank loans 22,278 22,278
Trade creditors 60 47
Taxation and social security - 466
Other creditors 533,144 443,667
555,482 466,458

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/3/23 31/3/22
£    £   
Bank loans 483,419 507,301

Westlands Holdings Limited (Registered number: 05482687)

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

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued

The bank loans are secured by fixed charges over the property, plant and machinery, goodwill and investments of the company, as well by a floating charge over all other property, assets and tights of the company both now and in the future. There is also a cross guarantee between the company and its subsidiary company, Wessex Slate and Tile Roofing Services Limited.

10. PROVISIONS FOR LIABILITIES
31/3/23 31/3/22
£    £   
Deferred tax
Accelerated capital allowances 1,317 2,186
Investment property 8,139 8,139
9,456 10,325

Deferred Investment
tax property
£    £   
Balance at 1 April 2022 2,186 8,139
Credit to Income Statement during year (869 ) -
Balance at 31 March 2023 1,317 8,139

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/3/23 31/3/22
value: £    £   
5,000 Ordinary 1 5,000 5,000
1 Redeemable A 1 1 1
1 Redeemable B 1 1 1
1 Redeemable C 1 1 1
5,003 5,003

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to the a director subsisted during the years ended 31 March 2023 and 31 March 2022:

31/3/23 31/3/22
£    £   
P A Lewis
Balance outstanding at start of year (19,832 ) 7,168
Amounts repaid (9,148 ) (27,000 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (28,980 ) (19,832 )

Westlands Holdings Limited (Registered number: 05482687)

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

13. ULTIMATE CONTROLLING PARTY

The controlling party is P A Lewis.