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REGISTERED NUMBER: 01426183 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

WESTERN & MIDLAND INVESTMENTS LIMITED

WESTERN & MIDLAND INVESTMENTS LIMITED (REGISTERED NUMBER: 01426183)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WESTERN & MIDLAND INVESTMENTS LIMITED

Company Information
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: P J Marmot
K V Tuempling-Marmot
M C H Britter





SECRETARY: K V Tuempling-Marmot





REGISTERED OFFICE: Ferrari House
258 Field End Road
Eastcote
Middlesex
HA4 9UU





REGISTERED NUMBER: 01426183 (England and Wales)






WESTERN & MIDLAND INVESTMENTS LIMITED (REGISTERED NUMBER: 01426183)

Balance Sheet
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 406 477
Investments 5 1 1
407 478

CURRENT ASSETS
Debtors 6 2,756,313 2,701,131
Cash at bank 135,555 143,421
2,891,868 2,844,552
CREDITORS
Amounts falling due within one year 7 367,657 317,126
NET CURRENT ASSETS 2,524,211 2,527,426
TOTAL ASSETS LESS CURRENT LIABILITIES 2,524,618 2,527,904

PROVISIONS FOR LIABILITIES 101 91
NET ASSETS 2,524,517 2,527,813

CAPITAL AND RESERVES
Called up share capital 8 96 96
Retained earnings 9 2,524,421 2,527,717
SHAREHOLDERS' FUNDS 2,524,517 2,527,813

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 directors acknowledge their 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.

WESTERN & MIDLAND INVESTMENTS LIMITED (REGISTERED NUMBER: 01426183)

Balance Sheet - continued
31 MARCH 2024


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 Board of Directors and authorised for issue on 14 August 2024 and were signed on its behalf by:




P J Marmot - Director



K V Tuempling-Marmot - Director


WESTERN & MIDLAND INVESTMENTS LIMITED (REGISTERED NUMBER: 01426183)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Western & Midland Investments 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.

Preparation of consolidated financial statements
The financial statements contain information about Western & Midland Investments Ltd as an individual company and do not contain consolidated financial information as the parent of (a) subsidiary(ies). Western and Midland Investments Ltd is itself a subsidiary company of Returngain Ltd and the company and group as a whole have taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

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 - 15% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost less any provision for impairment.

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.

WESTERN & MIDLAND INVESTMENTS LIMITED (REGISTERED NUMBER: 01426183)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Financial instruments
Financial instruments are recognised in the balance sheet when the Group has become a party to the contractual provisions of the instruments. Financial instruments are classified as liabilities or equity in accordance with the substance of the contractual arrangement. Interest, dividends, gains and losses relating to a financial instrument classified as a liability, are reported as expense or income. Distributions to holders of financial instruments classified as equity are charged directly to equity. Financial instruments are offset when the Group has a legally enforceable right to offset and intends to settle either on a net basis or to realise the asset and settle the liability simultaneously.

Investments
Fixed asset investments are stated at cost unless, in the opinion of the Directors, there has been an impairment, in which case an appropriate adjustment is made.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 22,280
DEPRECIATION
At 1 April 2023 21,803
Charge for year 71
At 31 March 2024 21,874
NET BOOK VALUE
At 31 March 2024 406
At 31 March 2023 477

WESTERN & MIDLAND INVESTMENTS LIMITED (REGISTERED NUMBER: 01426183)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 100
PROVISIONS
At 1 April 2023
and 31 March 2024 99
NET BOOK VALUE
At 31 March 2024 1
At 31 March 2023 1

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Western & Midland Developments Ltd
Registered office: Ferrari House, 258 Field End Road, Eastcote, Middlesex HA4 9UU
Nature of business: Property Dealing
%
Class of shares: holding
Ordinary 100.00
2024 2023
£    £   
Aggregate capital and reserves (2,899,749 ) (2,925,305 )
Profit for the year 25,556 50,835

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 1,093,480 1,034,130
Other debtors 1,662,833 1,667,001
2,756,313 2,701,131

WESTERN & MIDLAND INVESTMENTS LIMITED (REGISTERED NUMBER: 01426183)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued

Other debtors includes loans totalling £1,650,000 (2023 : £1,650,000) to unrelated parties, and generating interest income on a monthly basis. All loans are overdue for repayment based on their original terms.

In the year, one loan, for £250,000 was advised (by the borrower) to be at risk of default. Interest payments were paused in July 2023. The Directors are currently taking legal advice in respect of recovery of either unpaid interest or capital. No provision has as yet been made in this regard.

One loan, totalling £500,000 is being repaid after the year end, and is expected to be fully repaid by September 2024, under the terms of its borrowers personal guarantee.

Two loans totalling £900,000 are overdue for repayment, but are continuing to pay full interest as it falls due. The Directors are taking legal advice as to their rights in respect of repayment of the capital.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed to group undertakings 348,301 311,393
Taxation and social security 15,261 4,283
Other creditors 4,095 1,450
367,657 317,126

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
96 Ordinary £1 96 96

9. RESERVES
Retained
earnings
£   

At 1 April 2023 2,527,717
Deficit for the year (3,296 )
At 31 March 2024 2,524,421

WESTERN & MIDLAND INVESTMENTS LIMITED (REGISTERED NUMBER: 01426183)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


10. RELATED PARTY DISCLOSURES

At the year end, the company was owed £1.093,479 (2023 : £1,034,130) by Western & Midland Developments Ltd, a wholly owned subsidiary.

At the year end, the company owed £178,028 (2023 : £185,420) to Returngain Ltd, the company's parent undertaking.

At the year end, the company owed £170,273 (2023 : £125,973) to Kindpride Ltd, a company under common control, but not a group member..

11. ULTIMATE CONTROLLING PARTY

The controlling party is Returngain Ltd, which is controlled by P Marmot.