IRIS Accounts Production v23.3.1.45 SC231820 director 1.7.22 30.6.23 30.6.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC2318202022-06-30SC2318202023-06-30SC2318202022-07-012023-06-30SC2318202021-06-30SC2318202021-07-012022-06-30SC2318202022-06-30SC231820ns10:Originalns15:Scotland2022-07-012023-06-30SC231820ns14:PoundSterlingns10:Original2022-07-012023-06-30SC231820ns10:Originalns10:Director12022-07-012023-06-30SC231820ns10:Original2022-07-012023-06-30SC231820ns10:Original2023-06-30SC231820ns10:Originalns10:PrivateLimitedCompanyLtd2022-07-012023-06-30SC231820ns10:Originalns10:SmallEntities2022-07-012023-06-30SC231820ns10:Originalns10:AuditExempt-NoAccountantsReport2022-07-012023-06-30SC231820ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-07-012023-06-30SC231820ns10:SmallCompaniesRegimeForAccountsns10:Original2022-07-012023-06-30SC231820ns10:Originalns10:FullAccounts2022-07-012023-06-30SC231820ns10:Originalns10:RegisteredOffice2022-07-012023-06-30SC231820ns10:Original2022-06-30SC231820ns10:Originalns5:CurrentFinancialInstruments2023-06-30SC231820ns10:Originalns5:CurrentFinancialInstruments2022-06-30SC231820ns10:Originalns5:Non-currentFinancialInstruments2023-06-30SC231820ns10:Originalns5:Non-currentFinancialInstruments2022-06-30SC231820ns5:ShareCapitalns10:Original2023-06-30SC231820ns5:ShareCapitalns10:Original2022-06-30SC231820ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-06-30SC231820ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-06-30SC231820ns10:Originalns5:PlantMachinery2022-07-012023-06-30SC231820ns10:Originalns5:MotorVehicles2022-07-012023-06-30SC231820ns10:Originalns5:ComputerEquipment2022-07-012023-06-30SC231820ns10:Original2021-07-012022-06-30SC231820ns10:Originalns5:PlantMachinery2022-06-30SC231820ns10:Originalns5:MotorVehicles2022-06-30SC231820ns10:Originalns5:ComputerEquipment2022-06-30SC231820ns10:Original2022-06-30SC231820ns10:Originalns5:PlantMachinery2023-06-30SC231820ns10:Originalns5:MotorVehicles2023-06-30SC231820ns10:Originalns5:ComputerEquipment2023-06-30SC231820ns10:Originalns5:PlantMachinery2022-06-30SC231820ns10:Originalns5:MotorVehicles2022-06-30SC231820ns10:Originalns5:ComputerEquipment2022-06-30SC231820ns10:Originalns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-06-30SC231820ns10:Originalns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-06-30SC231820ns10:Originalns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-06-30SC231820ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-06-30SC231820ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-06-30SC231820ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-06-30SC231820ns10:Originalns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2022-06-30SC231820ns10:Originalns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2023-06-30SC231820ns10:Originalns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2022-06-30SC231820ns5:Securedns10:Original2023-06-30SC231820ns5:Securedns10:Original2022-06-30SC231820ns10:Original1ns10:Director12022-06-30SC231820ns10:Original1ns10:Director12021-06-30SC231820ns10:Original1ns10:Director12022-07-012023-06-30SC231820ns10:Original1ns10:Director12021-07-012022-06-30SC231820ns10:Original1ns10:Director12023-06-30SC231820ns10:Original1ns10:Director12022-06-30
REGISTERED NUMBER: SC231820 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

FOR

WESTCREST LIMITED

WESTCREST LIMITED (REGISTERED NUMBER: SC231820)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


WESTCREST LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTOR: Philip McCaig



REGISTERED OFFICE: 4d Auchingramont Road
Hamilton
ML3 6JT



REGISTERED NUMBER: SC231820 (Scotland)



ACCOUNTANTS: William Duncan (UK) Limited
Chartered Accountants
4d Auchingramont Road
Hamilton
ML3 6JT



BANKERS: Bank of Scotland
100/102 Cowgate
Kirkintilloch
G66 1JQ

WESTCREST LIMITED (REGISTERED NUMBER: SC231820)

STATEMENT OF FINANCIAL POSITION
30 JUNE 2023

30.6.23 30.6.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 32,529 53,046

CURRENT ASSETS
Debtors 5 48,591 101,744
Cash at bank 202 -
48,793 101,744
CREDITORS
Amounts falling due within one year 6 52,676 52,022
NET CURRENT (LIABILITIES)/ASSETS (3,883 ) 49,722
TOTAL ASSETS LESS CURRENT
LIABILITIES

28,646

102,768

CREDITORS
Amounts falling due after more than one
year

7

(31,188

)

(90,417

)

PROVISIONS FOR LIABILITIES (5,400 ) (10,047 )
NET (LIABILITIES)/ASSETS (7,942 ) 2,304

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (7,944 ) 2,302
SHAREHOLDERS' FUNDS (7,942 ) 2,304

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

WESTCREST LIMITED (REGISTERED NUMBER: SC231820)

STATEMENT OF FINANCIAL POSITION - continued
30 JUNE 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 20 February 2024 and were signed by:





Philip McCaig - Director


WESTCREST LIMITED (REGISTERED NUMBER: SC231820)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023


1. STATUTORY INFORMATION

Westcrest Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

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

Rendering of services
Turnover from the rendering of services, namely the provision of civil engineering services, is recognised by reference to the stage of completion of the service at the statement of financial position date.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Equipment - 25% on cost
Motor vehicles - 25% on cost
Computer equipment - 25% on cost

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the income statement.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of impairment loss is recognised immediately in the income statement.

WESTCREST LIMITED (REGISTERED NUMBER: SC231820)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial instruments are recognised as follows:

(i) Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method less any impairment.

(ii) Cash and cash equivalents
Cash and cash equivalents include cash at bank and in hand.

Cash and cash equivalents are shown net of bank overdrafts, which are included as current borrowings in liabilities on the statement of financial position.

(iii) Creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the statement of financial position. 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 shorter.

The interest element of these obligations is charged to the income statement over the relevant period using the effective interest method. The capital element of the future payments is treated as a liability.

Provision for liabilities
The company recognises a provision for annual leave accrued by employees as a result of services rendered in the current period, and which employees are entitled to carry forward and use within the next 12 months. The provision is measured at the salary cost payable for the period of absence.

WESTCREST LIMITED (REGISTERED NUMBER: SC231820)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. TANGIBLE FIXED ASSETS
Motor Computer
Equipment vehicles equipment Totals
£    £    £    £   
COST
At 1 July 2022 89,878 101,635 2,283 193,796
Additions 29,103 4,344 - 33,447
Disposals - (50,885 ) - (50,885 )
At 30 June 2023 118,981 55,094 2,283 176,358
DEPRECIATION
At 1 July 2022 89,874 48,596 2,280 140,750
Charge for year 7,276 8,524 - 15,800
Eliminated on disposal - (12,721 ) - (12,721 )
At 30 June 2023 97,150 44,399 2,280 143,829
NET BOOK VALUE
At 30 June 2023 21,831 10,695 3 32,529
At 30 June 2022 4 53,039 3 53,046

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 July 2022
and 30 June 2023 77,635
DEPRECIATION
At 1 July 2022
and 30 June 2023 26,097
NET BOOK VALUE
At 30 June 2023 51,538
At 30 June 2022 51,538

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 847 2,550
Director's loan 47,744 97,423
VAT - 1,771
48,591 101,744

WESTCREST LIMITED (REGISTERED NUMBER: SC231820)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Bank loans and overdrafts 6,250 10,710
Other loans 7,193 7,193
Hire purchase contracts 4,815 14,157
Trade creditors 968 10,838
Corporation tax 14,887 7,430
PAYE and NIC 40 29
VAT 16,477 -
Accrued charges 2,046 1,665
52,676 52,022

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.23 30.6.22
£    £   
Bank loans 16,660 22,838
Other loans 8,509 15,702
Hire purchase contracts 6,019 51,877
31,188 90,417

8. SECURED DEBTS

The following secured debts are included within creditors:

30.6.23 30.6.22
£    £   
Bank overdraft - 1,940
Bank loans 22,910 31,608
Hire purchase contracts 10,834 66,034
33,744 99,582

Hire purchase contracts are secured on the assets to which they relate.

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following net advances and credits to a director subsisted during the years ended 30 June 2023 and 30 June 2022:

30.6.23 30.6.22
£    £   
Philip McCaig
Balance outstanding at start of year (97,423 ) (97,058 )
Amounts advanced 49,679 -
Amounts repaid - (365 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (47,744 ) (97,423 )

WESTCREST LIMITED (REGISTERED NUMBER: SC231820)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023


9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES - continued

The above balance, which is due from the director, is unsecured, interest free and has no fixed repayment terms.