Registered number
04923974
West Hyde Property Ltd
Filleted Accounts
31 March 2023
West Hyde Property Ltd
Registered number: 04923974
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 262,877 274,489
Current assets
Debtors 4 5,632 9,922
Cash at bank and in hand 868,779 763,932
874,411 773,854
Creditors: amounts falling due within one year 5 (556,268) (426,608)
Net current assets 318,143 347,246
Total assets less current liabilities 581,020 621,735
Creditors: amounts falling due after more than one year 6 (51,908) (78,991)
Provisions for liabilities (4,902) (6,732)
Net assets 524,210 536,012
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 523,210 535,012
Shareholders' funds 524,210 536,012
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr S Taylor
Director
Approved by the board on 11 March 2024
West Hyde Property Ltd
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Equipment, fixtures and fittings 25% reducing balance
Motor vehicles 25% reducing balance
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 14 16
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 April 2022 228,044 324,519 47,295 599,858
At 31 March 2023 228,044 324,519 47,295 599,858
Depreciation
At 1 April 2022 - 301,653 23,716 325,369
Charge for the year - 5,717 5,895 11,612
At 31 March 2023 - 307,370 29,611 336,981
Net book value
At 31 March 2023 228,044 17,149 17,684 262,877
At 31 March 2022 228,044 22,866 23,579 274,489
4 Debtors 2023 2022
£ £
Other debtors 5,632 9,922
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 27,083 27,083
Trade creditors 30,942 30,779
Taxation and social security costs (435) 271
Other creditors 498,678 368,475
556,268 426,608
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 51,908 78,991
7 Other information
West Hyde Property Ltd is a private company limited by shares and incorporated in England. Its registered office is:
West Hyde House
Old Uxbridge Road
West Hyde, Rickmansworth
Herts
WD3 9XP
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