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REGISTERED NUMBER: 08239509 (England and Wales)










Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Westside Properties & Developments
Limited

Westside Properties & Developments
Limited (Registered number: 08239509)






Contents of the Financial Statements
for the Year Ended 31 March 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Westside Properties & Developments
Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: E S Panico





REGISTERED OFFICE: 37-38 Market Street
Ferryhill
Co. Durham
DL17 8JH





REGISTERED NUMBER: 08239509 (England and Wales)





ACCOUNTANTS: Little & Neal
37-38 Market Street
Ferryhill
Co. Durham
DL17 8JH

Westside Properties & Developments
Limited (Registered number: 08239509)

Balance Sheet
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 109,019 117,269
Investment property 5 1,199,221 1,199,221
1,308,240 1,316,490

CURRENT ASSETS
Debtors 6 - 28,732
Cash at bank 4,053 14,522
4,053 43,254
CREDITORS
Amounts falling due within one year 7 671,795 713,141
NET CURRENT LIABILITIES (667,742 ) (669,887 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

640,498

646,603

CREDITORS
Amounts falling due after more than one
year

8

397,936

403,379
NET ASSETS 242,562 243,224

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 242,561 243,223
SHAREHOLDERS' FUNDS 242,562 243,224

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

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

Westside Properties & Developments
Limited (Registered number: 08239509)

Balance Sheet - continued
31 March 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:





E S Panico - Director


Westside Properties & Developments
Limited (Registered number: 08239509)

Notes to the Financial Statements
for the Year Ended 31 March 2023

1. STATUTORY INFORMATION

Westside Properties & Developments Limited 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.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost and 15% on cost

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.

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 balance sheet date.

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.

3. EMPLOYEES AND DIRECTORS

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

Westside Properties & Developments
Limited (Registered number: 08239509)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2022 315,666
Additions 11,000
At 31 March 2023 326,666
DEPRECIATION
At 1 April 2022 198,397
Charge for year 19,250
At 31 March 2023 217,647
NET BOOK VALUE
At 31 March 2023 109,019
At 31 March 2022 117,269

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 1,199,221
NET BOOK VALUE
At 31 March 2023 1,199,221
At 31 March 2022 1,199,221

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors - 28,732

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Bank loans and overdrafts 47,864 47,864
Trade creditors - 6,949
Taxation and social security 32,652 32,384
Other creditors 591,279 625,944
671,795 713,141

Westside Properties & Developments
Limited (Registered number: 08239509)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.3.23 31.3.22
£    £   
Bank loans 397,936 403,379

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 206,480 211,923

9. SECURED DEBTS

The following secured debts are included within creditors:

31.3.23 31.3.22
£    £   
Bank loans 445,800 451,243

Other loans relates to a mortgage which is secured on investment properties supported by a personal guarantee.