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REGISTERED NUMBER: 11582580 (England and Wales)


Westmark Retail Ltd
T/A
Westmark London

Abridged Unaudited Financial Statements

for the Year Ended 31 October 2023






Westmark Retail Ltd (Registered number: 11582580)
T/A Westmark London






Contents of the Financial Statements
for the year ended 31 October 2023




Page

Company Information 1

Chartered Accountants' Report 2

Statement of Financial Position 3

Notes to the Financial Statements 5


Westmark Retail Ltd
T/A Westmark London

Company Information
for the year ended 31 October 2023







DIRECTOR: Mr F Ozhamaratli





SECRETARY: Mr F Ozhamaratli





REGISTERED OFFICE: Kemp House
160 City Road
London
EC1V 2NX





REGISTERED NUMBER: 11582580 (England and Wales)





ACCOUNTANTS: Alton & Co
Chartered Accountants
239-241 Kennington Lane
London
SE11 5QU

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Westmark Retail Ltd

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of Financial Position. Readers are cautioned that the Abridged Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Westmark Retail Ltd for the year ended 31 October 2023 which comprise the Abridged Statement of Income and Retained Earnings, Statement of Financial Position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Westmark Retail Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Westmark Retail Ltd and state those matters that we have agreed to state to the director of Westmark Retail Ltd in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Westmark Retail Ltd and its director for our work or for this report.

It is your duty to ensure that Westmark Retail Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Westmark Retail Ltd. You consider that Westmark Retail Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Westmark Retail Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Alton & Co
Chartered Accountants
239-241 Kennington Lane
London
SE11 5QU


19 January 2024

Westmark Retail Ltd (Registered number: 11582580)
T/A Westmark London

Statement of Financial Position
31 October 2023

2023 2022
Notes £    £   
CURRENT ASSETS
Inventories 1,500 1,785
Debtors 4 1,587 20
Cash at bank and in hand 530 3,030
3,617 4,835
CREDITORS
Amounts falling due within one year 5 55,826 48,730
NET CURRENT LIABILITIES (52,209 ) (43,895 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(52,209

)

(43,895

)

CREDITORS
Amounts falling due after more than one
year

6

27,096

37,171
NET LIABILITIES (79,305 ) (81,066 )

CAPITAL AND RESERVES
Called up share capital 7 1 1
Retained earnings 8 (79,306 ) (81,067 )
SHAREHOLDERS' FUNDS (79,305 ) (81,066 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

Westmark Retail Ltd (Registered number: 11582580)
T/A Westmark London

Statement of Financial Position - continued
31 October 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings for the year ended 31 October 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 January 2024 and were signed by:





Mr F Ozhamaratli - Director


Westmark Retail Ltd (Registered number: 11582580)
T/A Westmark London

Notes to the Financial Statements
for the year ended 31 October 2023

1. STATUTORY INFORMATION

Westmark Retail Ltd 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.

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

Turnover is derived from the normal trading activities of the business and is recognised when the customers take delivery of the goods.

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Westmark Retail Ltd (Registered number: 11582580)
T/A Westmark London

Notes to the Financial Statements - continued
for the year ended 31 October 2023

2. ACCOUNTING POLICIES - continued

Going concern
After making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

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

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,054 20
Other debtors 533 -
1,587 20

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,030 10,080
Trade creditors 1,952 5,427
Taxation and social security 3,194 1,718
Other creditors 40,650 31,505
55,826 48,730

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 27,096 37,171

7. CALLED UP SHARE CAPITAL

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

Westmark Retail Ltd (Registered number: 11582580)
T/A Westmark London

Notes to the Financial Statements - continued
for the year ended 31 October 2023

8. RESERVES
Retained
earnings
£   

At 1 November 2022 (81,067 )
Profit for the year 1,761
At 31 October 2023 (79,306 )

9. RELATED PARTY DISCLOSURES

1. Included within creditors are amounts due to key management personnel at balance sheet date of £30,450 (2022: £30,505). No interest was charged on this balance and it is repayable on demand.

2. The company paid rent of £1,080 to director for use of residence as office.