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REGISTERED NUMBER: 04684692 (England and Wales)















REPORT OF THE DIRECTOR AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

THE WESTWARD STOCKTAKING & STOCK
VALUATION AGENCY LIMITED

THE WESTWARD STOCKTAKING & STOCK
VALUATION AGENCY LIMITED (REGISTERED NUMBER: 04684692)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Report of the Director 2

Statement of Income and Retained Earnings 3

Balance Sheet 4

Notes to the Financial Statements 6


THE WESTWARD STOCKTAKING & STOCK
VALUATION AGENCY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: R A W Price





REGISTERED OFFICE: The Old Vicarage
Somerset Square Nailsea
Bristol
Somerset
BS48 1RN





REGISTERED NUMBER: 04684692 (England and Wales)





ACCOUNTANTS: Gordon Wood Scott & Partners Limited
Chartered Accountants
Dean House
94 Whiteladies Road
Clifton
Bristol
BS8 2QX

THE WESTWARD STOCKTAKING & STOCK
VALUATION AGENCY LIMITED (REGISTERED NUMBER: 04684692)

REPORT OF THE DIRECTOR
FOR THE YEAR ENDED 31 MARCH 2024

The director presents his report with the financial statements of the company for the year ended 31 March 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of stocktakers.

DIRECTOR
R A W Price held office during the whole of the period from 1 April 2023 to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





R A W Price - Director


2 August 2024

THE WESTWARD STOCKTAKING & STOCK
VALUATION AGENCY LIMITED (REGISTERED NUMBER: 04684692)

STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 31 MARCH 2024

31.3.24 31.3.23
Notes £    £   

TURNOVER 24,895 26,030

Administrative expenses (14,452 ) (19,710 )
OPERATING PROFIT and
PROFIT BEFORE TAXATION 10,443 6,320

Tax on profit (1,984 ) (2,151 )
PROFIT FOR THE FINANCIAL YEAR 8,459 4,169

Retained earnings at beginning of year 12,480 15,311

Dividends (10,500 ) (7,000 )

RETAINED EARNINGS AT END OF
YEAR

10,439

12,480

THE WESTWARD STOCKTAKING & STOCK
VALUATION AGENCY LIMITED (REGISTERED NUMBER: 04684692)

BALANCE SHEET
31 MARCH 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 83 110
83 110

CURRENT ASSETS
Debtors 7 3,879 3,554
Cash at bank 10,509 13,071
14,388 16,625
CREDITORS
Amounts falling due within one year 8 (4,014 ) (4,232 )
NET CURRENT ASSETS 10,374 12,393
TOTAL ASSETS LESS CURRENT
LIABILITIES

10,457

12,503

PROVISIONS FOR LIABILITIES (16 ) (21 )
NET ASSETS 10,441 12,482

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 10,439 12,480
SHAREHOLDERS' FUNDS 10,441 12,482

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

THE WESTWARD STOCKTAKING & STOCK
VALUATION AGENCY LIMITED (REGISTERED NUMBER: 04684692)

BALANCE SHEET - continued
31 MARCH 2024


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

The financial statements were approved by the director and authorised for issue on 2 August 2024 and were signed by:





R A W Price - Director


THE WESTWARD STOCKTAKING & STOCK
VALUATION AGENCY LIMITED (REGISTERED NUMBER: 04684692)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

The Westward Stocktaking & Stock Valuation Agency 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 reducing balance

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.

Short term debtors are measured at transaction price less any impairment.

Short term creditors are measured at transaction price.

Cash is represented by deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

Other financial liabilities, including borrowings are initially measured at fair value and subsequently measured at amortised cost using the effective interest rate method, with interest expense recognised on an effective yield basis.

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 balance sheet date.

THE WESTWARD STOCKTAKING & STOCK
VALUATION AGENCY LIMITED (REGISTERED NUMBER: 04684692)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

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 3 (2023 - 3 ) .

4. OPERATING PROFIT

The operating profit is stated after charging:

31.3.24 31.3.23
£    £   
Depreciation - owned assets 27 37
Goodwill amortisation - 5,000

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2023
and 31 March 2024 100,000
AMORTISATION
At 1 April 2023
and 31 March 2024 100,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

THE WESTWARD STOCKTAKING & STOCK
VALUATION AGENCY LIMITED (REGISTERED NUMBER: 04684692)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

6. TANGIBLE FIXED ASSETS
Fixtures,
fittings
and Computer
equipment equipment Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 2,212 3,684 5,896
DEPRECIATION
At 1 April 2023 2,190 3,596 5,786
Charge for year 5 22 27
At 31 March 2024 2,195 3,618 5,813
NET BOOK VALUE
At 31 March 2024 17 66 83
At 31 March 2023 22 88 110

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 3,810 3,485
Other debtors 10 10
Prepayments and accrued income 59 59
3,879 3,554

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Corporation Tax 1,989 2,158
Directors' current accounts 243 243
Accruals and deferred income 1,782 1,831
4,014 4,232

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
2 Ordinary £1 2 2