Silverfin false false 31/01/2024 01/02/2023 31/01/2024 Mr P J Styring 01/02/2021 30 July 2024 The principal activity of the Company during the financial year was that of gym equipment repairs. 05247503 2024-01-31 05247503 bus:Director1 2024-01-31 05247503 2023-01-31 05247503 core:CurrentFinancialInstruments 2024-01-31 05247503 core:CurrentFinancialInstruments 2023-01-31 05247503 core:ShareCapital 2024-01-31 05247503 core:ShareCapital 2023-01-31 05247503 core:RetainedEarningsAccumulatedLosses 2024-01-31 05247503 core:RetainedEarningsAccumulatedLosses 2023-01-31 05247503 bus:OrdinaryShareClass1 2024-01-31 05247503 bus:OrdinaryShareClass2 2024-01-31 05247503 2023-02-01 2024-01-31 05247503 bus:FilletedAccounts 2023-02-01 2024-01-31 05247503 bus:SmallEntities 2023-02-01 2024-01-31 05247503 bus:AuditExemptWithAccountantsReport 2023-02-01 2024-01-31 05247503 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 05247503 bus:Director1 2023-02-01 2024-01-31 05247503 2022-02-01 2023-01-31 05247503 bus:OrdinaryShareClass1 2023-02-01 2024-01-31 05247503 bus:OrdinaryShareClass1 2022-02-01 2023-01-31 05247503 bus:OrdinaryShareClass2 2023-02-01 2024-01-31 05247503 bus:OrdinaryShareClass2 2022-02-01 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 05247503 (England and Wales)

WESTECH (SW) LIMITED

Unaudited Financial Statements
For the financial year ended 31 January 2024
Pages for filing with the registrar

WESTECH (SW) LIMITED

Unaudited Financial Statements

For the financial year ended 31 January 2024

Contents

WESTECH (SW) LIMITED

BALANCE SHEET

As at 31 January 2024
WESTECH (SW) LIMITED

BALANCE SHEET (continued)

As at 31 January 2024
2024 2023
£ £
Current assets
Stocks 6,000 6,000
Debtors 3 26,303 15,650
Cash at bank and in hand 48,270 43,147
80,573 64,797
Creditors: amounts falling due within one year 4 ( 30,718) ( 24,900)
Net current assets 49,855 39,897
Total assets less current liabilities 49,855 39,897
Provision for liabilities 0 ( 481)
Net assets 49,855 39,416
Capital and reserves
Called-up share capital 5 2 2
Profit and loss account 49,853 39,414
Total shareholder's funds 49,855 39,416

For the financial year ending 31 January 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Westech (SW) Limited (registered number: 05247503) were approved and authorised for issue by the Director on 30 July 2024. They were signed on its behalf by:

Mr P J Styring
Director
WESTECH (SW) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
WESTECH (SW) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 January 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Westech (SW) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Francis Clark Llp Melville Building East, Royal William Yard, Plymouth, PL1 3RP, United Kingdom. The principal place of business is 10 Edgecumbe Road, St Dominick, Saltash, Cornwall, PL12 6NU.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Revenue from services is recognised as they are delivered.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

Fixed asset investments

Quoted fixed asset investments are included at market value at the balance sheet date and any surplus or deficit is transferred to the Fair Value Reserve except for permanent diminution in value which are written off to the profit and loss account. Unquoted fixed asset investments are included at cost.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including the director 2 2

3. Debtors

2024 2023
£ £
Trade debtors 25,483 14,955
Other debtors 820 695
26,303 15,650

4. Creditors: amounts falling due within one year

2024 2023
£ £
Accruals 1,670 1,500
Corporation tax 20,652 13,863
Other taxation and social security 8,359 9,128
Other creditors 37 409
30,718 24,900

5. Called-up share capital

2024 2023
£ £
Allotted, called-up and fully-paid
1 Ordinary A share of £ 1.00 1 1
1 Ordinary B share of £ 1.00 1 1
2 2

6. Ultimate controlling party

Parent Company:

Tamartech Limited
The registered office of the company is C/O Francis Clark Llp Melville Building East, Royal William Yard, Plymouth, Devon, United Kingdom, PL1 3RP