Caseware UK (AP4) 2022.0.179 2022.0.179 2023-12-312023-12-31true22023-01-01falseNo description of principal activitytrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 03192119 2023-01-01 2023-12-31 03192119 2022-01-01 2022-12-31 03192119 2023-12-31 03192119 2022-12-31 03192119 c:CompanySecretary1 2023-01-01 2023-12-31 03192119 c:Director1 2023-01-01 2023-12-31 03192119 c:Director2 2023-01-01 2023-12-31 03192119 c:RegisteredOffice 2023-01-01 2023-12-31 03192119 d:Buildings 2023-12-31 03192119 d:Buildings 2022-12-31 03192119 d:CurrentFinancialInstruments 2023-12-31 03192119 d:CurrentFinancialInstruments 2022-12-31 03192119 d:Non-currentFinancialInstruments 2023-12-31 03192119 d:Non-currentFinancialInstruments 2022-12-31 03192119 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 03192119 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 03192119 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 03192119 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 03192119 d:ShareCapital 2023-12-31 03192119 d:ShareCapital 2022-12-31 03192119 d:CapitalRedemptionReserve 2023-12-31 03192119 d:CapitalRedemptionReserve 2022-12-31 03192119 d:RetainedEarningsAccumulatedLosses 2023-12-31 03192119 d:RetainedEarningsAccumulatedLosses 2022-12-31 03192119 c:FRS102 2023-01-01 2023-12-31 03192119 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 03192119 c:FullAccounts 2023-01-01 2023-12-31 03192119 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03192119 5 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Company registration number: 03192119







UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2023


WESTAC HOLDINGS LIMITED






































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WESTAC HOLDINGS LIMITED
 


 
COMPANY INFORMATION


Directors
C Taylor 
A Taylor 




Company secretary
Y Sheridan



Registered number
03192119



Registered office
Ashcombe House
5 The Crescent

Leatherhead

Surrey

KT22 8DY




Accountants
Menzies LLP
Chartered Accountants

Ashcombe House

5 The Crescent

Leatherhead

Surrey

KT22 8DY





 


WESTAC HOLDINGS LIMITED
 



CONTENTS



Page
Statement of Financial Position
1 - 2
Notes to the Financial Statements
3 - 5

 


WESTAC HOLDINGS LIMITED
REGISTERED NUMBER:03192119



STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,075,000
1,075,000

  
1,075,000
1,075,000

Current assets
  

Debtors: amounts falling due within one year
 5 
32
10,399

Cash at bank and in hand
  
95,552
67,466

  
95,584
77,865

Creditors: amounts falling due within one year
 6 
(106,432)
(89,831)

Net current liabilities
  
 
 
(10,848)
 
 
(11,966)

Total assets less current liabilities
  
1,064,152
1,063,034

Creditors: amounts falling due after more than one year
  
(8,728)
(13,135)

Provisions for liabilities
  

Deferred tax
  
(120,873)
(120,873)

  
 
 
(120,873)
 
 
(120,873)

Net assets
  
934,551
929,026

Page 1

 


WESTAC HOLDINGS LIMITED
REGISTERED NUMBER:03192119


    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

2023
2022
£
£

Capital and reserves
  

Allotted, called up and fully paid share capital
  
2,085
2,085

Capital redemption reserve
  
1,000
1,000

Profit and loss account
  
931,466
925,941

  
934,551
929,026


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




C Taylor
Director

Date: 16 April 2024

The notes on pages 3 to 5 form part of these financial statements.

Page 2

 


WESTAC HOLDINGS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

Westac Holdings Limited is a private company limited by shares and incorporated in England and Wales. The address of the registered office is Ashcombe House, 5 The Crescent, Leatherhead, Surrey, KT22 8DY.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is derived from rental income and is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

  
2.3

Fixed assets

All fixed assets are initially recorded at cost.

 
2.4

Revaluation of tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any
accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the
asset to the location and condition necessary for it to be capable of operating in the manner intended by
management.
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if
appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are
recognised in profit or loss..

Investment properties are included at fair value. Gains are recognised in the income statement. Deferred tax
is provided on these gains at the rate expected to apply when the property is sold.

 
2.5

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Page 3

 


WESTAC HOLDINGS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of Financial Position date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).


4.


Tangible fixed assets





Investment property

£



Cost or valuation


At 1 January 2023
1,075,000



At 31 December 2023

1,075,000






Net book value



At 31 December 2023
1,075,000



At 31 December 2022
1,075,000

The investment property was valued on an open market value of £1,075,000 at 31 December 2023 by the director of the company.

Page 4

 


WESTAC HOLDINGS LIMITED
 


 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors

2023
2022
£
£


VAT control
32
2,120

Prepayments and accrued income
-
8,279

32
10,399



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
4,459
4,257

Trade creditors
5,000
15,601

Corporation tax
16,269
9,957

Other creditors
55,000
55,000

Accruals and deferred income
25,704
5,016

106,432
89,831



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
8,728
13,135

8,728
13,135




 
Page 5