Westleys Limited 00552560 true 2022-07-01 2023-06-30 2023-06-30 The principal activity of the company is non trading. Digita Accounts Production Advanced 6.30.9574.0 true Mr Michael James Richards Mr Robert John Salisbury Mr James Michael Salisbury false 00552560 2022-07-01 2023-06-30 00552560 2023-06-30 00552560 bus:OrdinaryShareClass1 2023-06-30 00552560 core:CapitalRedemptionReserve 2023-06-30 00552560 core:OtherReservesSubtotal 2023-06-30 00552560 core:RetainedEarningsAccumulatedLosses 2023-06-30 00552560 core:ShareCapital 2023-06-30 00552560 core:CurrentFinancialInstruments 2023-06-30 00552560 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 00552560 bus:FRS102 2022-07-01 2023-06-30 00552560 bus:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 00552560 bus:FullAccounts 2022-07-01 2023-06-30 00552560 bus:RegisteredOffice 2022-07-01 2023-06-30 00552560 bus:Director1 2022-07-01 2023-06-30 00552560 bus:Director2 2022-07-01 2023-06-30 00552560 bus:Director4 2022-07-01 2023-06-30 00552560 bus:OrdinaryShareClass1 2022-07-01 2023-06-30 00552560 bus:EntityNoLongerTradingButTradedInPast 2022-07-01 2023-06-30 00552560 bus:Consolidated 2022-07-01 2023-06-30 00552560 bus:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 00552560 core:AllAssociates 2022-07-01 2023-06-30 00552560 1 2022-07-01 2023-06-30 00552560 countries:England 2022-07-01 2023-06-30 00552560 2022-06-30 00552560 bus:OrdinaryShareClass1 2022-06-30 00552560 core:CapitalRedemptionReserve 2022-06-30 00552560 core:OtherReservesSubtotal 2022-06-30 00552560 core:RetainedEarningsAccumulatedLosses 2022-06-30 00552560 core:ShareCapital 2022-06-30 00552560 core:CurrentFinancialInstruments 2022-06-30 00552560 core:CurrentFinancialInstruments core:WithinOneYear 2022-06-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 00552560

Westleys Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 June 2023

 

Westleys Limited

Profit and Loss Account for the Year Ended 30 June 2023

The company has not traded during the year. During this year, the company received no income and incurred no expenditure and therefore made neither profit nor loss.

 

Westleys Limited

(Registration number: 00552560)
Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Current assets

 

Debtors

3

1,189,747

1,184,500

Cash at bank and in hand

 

-

(803)

 

1,189,747

1,183,697

Creditors: Amounts falling due within one year

5

-

6,050

Net assets

 

1,189,747

1,189,747

Capital and reserves

 

Called up share capital

6

1,550,000

1,550,000

Capital redemption reserve

6,000

6,000

Other reserves

224,705

224,705

Retained earnings

(590,958)

(590,958)

Shareholders' funds

 

1,189,747

1,189,747

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 20 February 2024 and signed on its behalf by:
 

.........................................
Mr Michael James Richards
Director

 

Westleys Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Doulton Road
Cradley Heath
West Midlands
B64 5QS

These financial statements were authorised for issue by the Board on 20 February 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland and the Companies Act 2006'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Westleys Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023 (continued)

2

Accounting policies (continued)

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. 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.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified 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.

3

Debtors

Current

Note

2023
£

2022
£

Amounts owed by related parties

8

1,189,747

1,184,500

   

1,189,747

1,184,500

4

Cash and cash equivalents

2023
£

2022
£

Cash on hand

-

(803)

Bank overdrafts

-

(41)

Cash and cash equivalents in statement of cash flows

-

(844)

 

Westleys Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023 (continued)

5

Creditors

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

7

-

41

Amounts due to related parties

8

-

603

Other payables

 

-

(6,694)

 

-

(6,050)

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary Shares of £1 each

1,550,000

1,550,000

1,550,000

1,550,000

         

7

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank overdrafts

-

41

8

Related party transactions

Summary of transactions with associates

The company has taken advantage of the exemption in FRS 102 "related party disclosures" from disclosing transactions with other members of the group.
 

 

Westleys Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2023 (continued)

9

Parent and ultimate parent undertaking

The company's immediate parent is Westley Group Limited, incorporated in England.

 The ultimate parent is Musgrave Holdings Limited, incorporated in England.

 The most senior parent entity producing publicly available financial statements is Musgrave Holdings Limited. These financial statements are available upon request from Doulton Road
Cradley Heath
West Midlands
B64 5QS