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REGISTERED NUMBER: 09444921 (England and Wales)











Westbrook James Limited

Unaudited Financial Statements

for the Period 1 September 2021 to 30 August 2022






Westbrook James Limited (Registered number: 09444921)






Contents of the Financial Statements
for the Period 1 September 2021 to 30 August 2022




Page

Company information 1

Balance sheet 2

Notes to the financial statements 4


Westbrook James Limited

Company Information
for the Period 1 September 2021 to 30 August 2022







Director: K G Jackson





Registered office: 76 Manchester Rd
Denton
Manchester
M34 3PS





Registered number: 09444921 (England and Wales)





Accountants: Warr & Co Limited
Chartered Accountants
76 Manchester Road
Denton
Manchester
M34 3PS

Westbrook James Limited (Registered number: 09444921)

Balance Sheet
30 August 2022

30.8.22 31.8.21
Notes £    £   
Fixed assets
Investments 4 1,937,700 1,791,700
Investment property 5 5,302,078 3,470,000
7,239,778 5,261,700

Current assets
Debtors 6 2,190,875 3,602,209
Cash at bank 438 59
2,191,313 3,602,268
Creditors
Amounts falling due within one year 7 (5,260,046 ) (6,138,953 )
Net current liabilities (3,068,733 ) (2,536,685 )
Total assets less current liabilities 4,171,045 2,725,015

Creditors
Amounts falling due after more than one
year

8

(3,552,897

)

(2,174,980

)

Provisions for liabilities (128,858 ) (128,858 )
Net assets 489,290 421,177

Capital and reserves
Called up share capital 10 1 1
Retained earnings 11 489,289 421,176
Shareholders' funds 489,290 421,177

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 August 2022.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 August 2022 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.

Westbrook James Limited (Registered number: 09444921)

Balance Sheet - continued
30 August 2022


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 21 November 2023 and were signed by:





K G Jackson - Director


Westbrook James Limited (Registered number: 09444921)

Notes to the Financial Statements
for the Period 1 September 2021 to 30 August 2022

1. Statutory information

Westbrook James 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.

Investment property
Investment properties are initially measured at cost and subsequently measured at fair value. Changes in fair value are recognised in profit or loss.

The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in FRS 102. The directors consider that, because investment properties are not held for consumption, but for their investment potential, to depreciate them would not give a true and fair view.

If this departure from the Companies Act 2006 had not been made in order to give a true and fair view, the profit for the financial year would have been reduced by depreciation. However the amount of depreciation cannot reasonably be quantified, because depreciation is only one of many factors reflected in the annual valuation and the amount relating to the depreciation of the property cannot be separately identified.

Taxation
Taxation for the period 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.


Westbrook James Limited (Registered number: 09444921)

Notes to the Financial Statements - continued
for the Period 1 September 2021 to 30 August 2022

2. Accounting policies - continued
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 period 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.

3. Employees and directors

The average number of employees during the period was 1 (2021 - 1 ) .

4. Fixed asset investments
Other
investments
£   
Cost
At 1 September 2021 1,791,700
Additions 794,000
Disposals (648,000 )
At 30 August 2022 1,937,700
Net book value
At 30 August 2022 1,937,700
At 31 August 2021 1,791,700

Other investments represent deposits paid on properties

5. Investment property
Total
£   
Fair value
At 1 September 2021 3,470,000
Additions 1,832,078
At 30 August 2022 5,302,078
Net book value
At 30 August 2022 5,302,078
At 31 August 2021 3,470,000

Westbrook James Limited (Registered number: 09444921)

Notes to the Financial Statements - continued
for the Period 1 September 2021 to 30 August 2022

5. Investment property - continued

Fair value at 30 August 2022 is represented by:
£   
Valuation in 2021 678,200
Cost 4,623,878
5,302,078

6. Debtors: amounts falling due within one year
30.8.22 31.8.21
£    £   
Trade debtors 952 -
Other debtors 1,893,094 3,444,446
Directors' current accounts 296,195 -
Corporation tax recoverable - 15,284
VAT 634 22,375
Prepayments - 120,104
2,190,875 3,602,209

7. Creditors: amounts falling due within one year
30.8.22 31.8.21
£    £   
Bank loans and overdrafts 8,333 8,333
Trade creditors 39,593 352
Corporation tax 45,416 4,789
Other creditors 5,164,303 6,119,051
Directors' current accounts - 2,756
Accrued expenses 2,401 3,672
5,260,046 6,138,953

8. Creditors: amounts falling due after more than one year
30.8.22 31.8.21
£    £   
Bank loans - 1-2 years 8,333 8,333
Bank loans - 2-5 years 25,564 32,297
Mortgage - due over 5 years 3,519,000 2,134,350
3,552,897 2,174,980

Westbrook James Limited (Registered number: 09444921)

Notes to the Financial Statements - continued
for the Period 1 September 2021 to 30 August 2022

9. Secured debts

The following secured debts are included within creditors:

30.8.22 31.8.21
£    £   
Mortgage 2,134,350 2,134,350
Mortgage 1,384,650 -
3,519,000 2,134,350

The two mortgages are from Hampshire Trust, they are interest only, both being secured by a legal charge over the investment properties with £2,134,350 being repayable in April 2031 and £1,384,650 being repayable in December 2031.

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 30.8.22 31.8.21
value: £    £   
1 Ordinary 1 1 1

11. Reserves
Retained
earnings
£   

At 1 September 2021 421,176
Profit for the period 68,113
At 30 August 2022 489,289