West Dean Limited
Financial Statements
For the year ended 30 September 2023
Pages for Filing with Registrar
Company Registration No. 01363911 (England and Wales)
West Dean Limited
Company Information
Directors
Francis Plowden FCA
Professor Paul O'Prey CBE
Secretary
Alexander Barron ACA FRSA
Company number
01363911
Registered office
Estate Office
West Dean
Chichester
West Sussex
United Kingdom
PO18 0QZ
Auditor
Moore Kingston Smith LLP
9 Appold Street
London
EC2A 2AP
Bankers
National Westminster Bank plc
5 East Street
Chichester
West Sussex
P019 1HH
West Dean Limited
Contents
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 7
West Dean Limited
Balance Sheet
As at 30 September 2023
Page 1
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
20,707
16,099
Current assets
Stock
46,432
43,626
Debtors
5
1,038
65,224
Cash at bank and in hand
61,398
29,898
108,868
138,748
Creditors: amounts falling due within one year
6
(106,028)
(131,300)
Net current assets
2,840
7,448
Net assets
23,547
23,547
Capital and reserves
Called up share capital
7
3
3
Profit and loss reserves
23,544
23,544
Total equity
23,547
23,547

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

The financial statements were approved by the board of directors and authorised for issue on 22 February 2024 and are signed on its behalf by:
Professor Paul O'Prey CBE
Director
Company Registration No. 01363911
West Dean Limited
Statement of Changes in Equity
For the year ended 30 September 2023
Page 2
Share capital
Profit and loss reserves
Total
Notes
£
£
£
Balance at 1 October 2021
3
23,544
23,547
Year ended 30 September 2022:
Profit and total comprehensive income for the year
-
88,415
88,415
Distributions to parent charity under gift aid
-
(88,415)
(88,415)
Balance at 30 September 2022
3
23,544
23,547
Year ended 30 September 2023:
Profit and total comprehensive income for the year
-
297,610
297,610
Distributions to parent charity under gift aid
-
(297,610)
(297,610)
Balance at 30 September 2023
3
23,544
23,547
West Dean Limited
Notes to the Financial Statements
For the year ended 30 September 2023
Page 3
1
Accounting policies
Company information

West Dean Limited is a private company limited by shares incorporated in England and Wales. The registered office is Estate Office, West Dean, Chichester, P018 OQZ.

1.1
Accounting convention

These financial statements have been prepared in accordance with Section 1A of FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

This company is a qualifying entity for the purposes of FRS 102, being a member of a group where the parent of that group prepares publicly available consolidated financial statements, including this company, which are intended to give a true and fair view of the assets, liabilities, financial position and profit or loss of the group. The company has therefore taken advantage of exemptions from the following disclosure requirements:

 

 

The financial statements of the company are consolidated in the financial statements of The Edward James Foundation Limited. These consolidated financial statements are available from its registered office; Estate Office, West Dean, Chichester, West Sussex, PO18 OQZ.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

West Dean Limited
Notes to the Financial Statements (Continued)
For the year ended 30 September 2023
1
Accounting policies
(Continued)
Page 4
1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Plant and equipment
8 - 10 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.5
Stock

Stock are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stock to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stock over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.6
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

West Dean Limited
Notes to the Financial Statements (Continued)
For the year ended 30 September 2023
1
Accounting policies
(Continued)
Page 5
Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

No individuals were employed by the company in the current or prior year. Staff costs are recharged by the parent based on hours worked for West Dean Limited.

West Dean Limited
Notes to the Financial Statements (Continued)
For the year ended 30 September 2023
Page 6
4
Tangible fixed assets
Plant and machinery
£
Cost
At 1 October 2022
213,220
Additions
8,992
At 30 September 2023
222,212
Depreciation and impairment
At 1 October 2022
197,121
Depreciation charged in the year
4,384
At 30 September 2023
201,505
Carrying amount
At 30 September 2023
20,707
At 30 September 2022
16,099
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
691
1,670
Amounts owed by group undertakings
-
0
52,552
Other debtors
-
0
10,341
Prepayments and accrued income
347
661
1,038
65,224
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
25,295
21,483
Amounts owed to group undertakings
27,998
88,415
Taxation and social security
21,493
-
0
Other creditors
1,775
5,841
Accruals and deferred income
29,467
15,561
106,028
131,300
West Dean Limited
Notes to the Financial Statements (Continued)
For the year ended 30 September 2023
Page 7
7
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
3
3
3
3
8
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

Senior Statutory Auditor:
Luke Holt
Statutory Auditor:
9
Parent company

The ultimate parent organisation is The Edward James Foundation Limited (company number 6689362, charity number 1126084), a company limited by guarantee, registered in England and Wales. The parent prepares group financial statements and copies can be obtained from the company's registered office.

 

The company has taken advantage of the exemption available in accordance with FRS102 not to disclose transactions entered into between two or more members of a group, as the company is a wholly controlled subsidiary undertaking of the group to which it is party to the transactions.

 

2023-09-302022-10-01false28 February 2024CCH SoftwareCCH Accounts Production 2023.200No description of principal activityThis audit opinion is unqualifiedFrancis Plowden FCAProfessor Paul O'Prey CBEAlexander Barron ACA FRSA013639112022-10-012023-09-3001363911bus:Director12022-10-012023-09-3001363911bus:Director22022-10-012023-09-3001363911bus:CompanySecretary12022-10-012023-09-30013639112023-09-30013639112022-09-3001363911core:OtherPropertyPlantEquipment2023-09-3001363911core:OtherPropertyPlantEquipment2022-09-3001363911core:CurrentFinancialInstrumentscore:WithinOneYear2023-09-3001363911core:CurrentFinancialInstrumentscore:WithinOneYear2022-09-3001363911core:ShareCapital2023-09-3001363911core:ShareCapital2022-09-3001363911core:RetainedEarningsAccumulatedLosses2023-09-3001363911core:RetainedEarningsAccumulatedLosses2022-09-30013639112021-10-012022-09-3001363911core:RetainedEarningsAccumulatedLosses2021-10-012022-09-3001363911core:PlantMachinery2022-10-012023-09-3001363911core:OtherPropertyPlantEquipment2022-09-3001363911core:OtherPropertyPlantEquipment2022-10-012023-09-3001363911core:CurrentFinancialInstruments2023-09-3001363911core:CurrentFinancialInstruments2022-09-3001363911bus:PrivateLimitedCompanyLtd2022-10-012023-09-3001363911bus:SmallCompaniesRegimeForAccounts2022-10-012023-09-3001363911bus:FRS1022022-10-012023-09-3001363911bus:Audited2022-10-012023-09-3001363911bus:FullAccounts2022-10-012023-09-30xbrli:purexbrli:sharesiso4217:GBP