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REGISTERED NUMBER: 12225403 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

FOR

Westfit Limited

Westfit Limited (Registered number: 12225403)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 July 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 9


Westfit Limited

COMPANY INFORMATION
for the year ended 31 July 2023







Director: Miss D Webster





Registered office: Abacus House
129 North Hill
Plymouth
Devon
PL4 8JY





Business address: Unit 20, Forresters Business Park
35 Estover Close
Plymouth
Devon
PL6 7PL





Registered number: 12225403 (England and Wales)





Accountants: Nigel Webster & Co
129 North Hill
Plymouth
Devon
PL4 8JY

Westfit Limited (Registered number: 12225403)

BALANCE SHEET
31 July 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 4 31,808 536,432
Investments 5 750,050 50
781,858 536,482

Current assets
Debtors 6 191,178 686
Cash at bank 1,663 9,220
192,841 9,906
Creditors
Amounts falling due within one year 7 167,428 326,002
Net current assets/(liabilities) 25,413 (316,096 )
Total assets less current liabilities 807,271 220,386

Creditors
Amounts falling due after more than
one year

8

-

(186,107

)

Provisions for liabilities 10 (30,500 ) (3,800 )
Net assets 776,771 30,479

Capital and reserves
Called up share capital 11 1,000 1,000
Revaluation reserve 12 199,600 -
Retained earnings 576,171 29,479
Shareholders' funds 776,771 30,479

Westfit Limited (Registered number: 12225403)

BALANCE SHEET - continued
31 July 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 November 2023 and were signed by:





Miss D Webster - Director


Westfit Limited (Registered number: 12225403)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 July 2023

1. STATUTORY INFORMATION

Westfit Limited is a private company, limited by shares, registered in England and Wales. The company's registered number, business address 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.

Preparation of consolidated financial statements
The financial statements contain information about Westfit Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents amounts invoiced ( net of applicable vat) for leasing of equipment, rent of premises and related service charges, adjusted for amounts invoiced in advance or in arrears as at the balance sheet 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.

Fixtures and fittings - 10% on reducing balance

Investments in subsidiaries and associates
Investments in subsidiary and associate undertakings are recognised at cost.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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.


Westfit Limited (Registered number: 12225403)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2023

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 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.

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.

Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - NIL ) .

Westfit Limited (Registered number: 12225403)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
Cost or valuation
At 1 August 2022 525,000 45,696 570,696
Additions - 4,662 4,662
Revaluations 225,000 - 225,000
Transfer to investments (750,000 ) - (750,000 )
At 31 July 2023 - 50,358 50,358
Depreciation
At 1 August 2022 20,000 14,264 34,264
Charge for year - 4,286 4,286
Revaluation adjustments (20,000 ) - (20,000 )
At 31 July 2023 - 18,550 18,550
Net book value
At 31 July 2023 - 31,808 31,808
At 31 July 2022 505,000 31,432 536,432

Cost or valuation at 31 July 2023 is represented by:

Fixtures
and
fittings
£   
Cost 50,358

5. FIXED ASSET INVESTMENTS
Shares in
group Investment
undertakings property Totals
£    £    £   
Cost
At 1 August 2022 50 - 50
Additions - 750,000 750,000
At 31 July 2023 50 750,000 750,050
Net book value
At 31 July 2023 50 750,000 750,050
At 31 July 2022 50 - 50

Westfit Limited (Registered number: 12225403)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2023

5. FIXED ASSET INVESTMENTS - continued

The shares relating to group companies are:



Company Shares held Activity

Westcare Ltd 100% Trading



6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 191,042 -
VAT 136 686
191,178 686

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 77,498 21,268
Amounts owed to group undertakings - 292,900
Corporation tax 16,200 7,500
Other creditors 71,570 2,936
Director's loan account 2,160 1,398
167,428 326,002

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years - 22,000
Bank loans - 2-5 years - 70,000
Bank loans over 5 years - 94,107
- 186,107

Amounts falling due in more than five years:

Repayable by instalments
Bank loans over 5 years - 94,107

Westfit Limited (Registered number: 12225403)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2023

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 77,498 207,375

10. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 30,500 3,800

Deferred
tax
£   
Balance at 1 August 2022 3,800
Provided during year 26,700
Balance at 31 July 2023 30,500

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary £1 1,000 1,000

12. RESERVES
Revaluation
reserve
£   
Transfer to revaluation
reserve 199,600

At 31 July 2023 199,600

Westfit Limited (Registered number: 12225403)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2023

13. RELATED PARTY DISCLOSURES

At the balance sheet date the company owed £2,160 to Miss D P Webster a director of the company.

During the year, the company received the following amounts from its 100% subsidiary, Westcare Limited:

Dividends £540,000

Rent and service charges £ 55,214
Hire of equipment £ 5,000

14. ULTIMATE CONTROLLING PARTY

The controlling party is Miss D Webster.