Caseware UK (AP4) 2023.0.135 2023.0.135 2023-11-302023-11-302022-12-014falseinvestment company4falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 06149969 2022-12-01 2023-11-30 06149969 2021-12-01 2022-11-30 06149969 2023-11-30 06149969 2022-11-30 06149969 c:Director4 2022-12-01 2023-11-30 06149969 d:CurrentFinancialInstruments 2023-11-30 06149969 d:CurrentFinancialInstruments 2022-11-30 06149969 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 06149969 d:CurrentFinancialInstruments d:WithinOneYear 2022-11-30 06149969 d:ShareCapital 2023-11-30 06149969 d:ShareCapital 2022-11-30 06149969 d:RetainedEarningsAccumulatedLosses 2023-11-30 06149969 d:RetainedEarningsAccumulatedLosses 2022-11-30 06149969 c:FRS102 2022-12-01 2023-11-30 06149969 c:AuditExempt-NoAccountantsReport 2022-12-01 2023-11-30 06149969 c:FullAccounts 2022-12-01 2023-11-30 06149969 c:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 06149969 6 2022-12-01 2023-11-30 06149969 e:PoundSterling 2022-12-01 2023-11-30 iso4217:GBP xbrli:pure

Registered number: 06149969









WEST END & CITY PROPERTY FINANCE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2023

 
WEST END & CITY PROPERTY FINANCE LIMITED
 

CONTENTS



Page
Balance sheet
 
1 - 2
Notes to the financial statements
 
3 - 7


 
WEST END & CITY PROPERTY FINANCE LIMITED
REGISTERED NUMBER: 06149969

BALANCE SHEET
AS AT 30 NOVEMBER 2023

2023
2023
2022
2022
Note
£
£
£
£

Fixed assets
  

Investments
 4 
10
10

  
10
10

Current assets
  

Debtors: amounts falling due within one year
 5 
4,768,492
2,960,779

Cash at bank and in hand
 6 
532,876
55,244

  
5,301,368
3,016,023

Creditors: amounts falling due within one year
 7 
(4,992,914)
(2,845,227)

Net current assets
  
 
 
308,454
 
 
170,796

Total assets less current liabilities
  
308,464
170,806

  

Net assets
  
308,464
170,806


Capital and reserves
  

Called up share capital 
  
2
2

Profit and loss account
  
308,462
170,804

  
308,464
170,806


Page 1

 
WEST END & CITY PROPERTY FINANCE LIMITED
REGISTERED NUMBER: 06149969
    
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2023

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 the 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 comprehensive income 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 on 11 July 2024.




D G Mattey
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
WEST END & CITY PROPERTY FINANCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

1.


General information

West End & City Property Finance Limited is a private company, limited by shares and incorporated in England and Wales, United Kingdom, with a registration number 06149969. The address of the registered office is Lawrence House, Goodwyn Avenue, Mill Hill, London, NW7 3RH. The principal activity is that of an investment company.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

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

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue represents interest receivable on advances made during the period.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.4

Taxation

Tax is recognised in profit or loss 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 balance sheet date in the countries where the Company operates and generates income.

 
2.5

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the statement of comprehensive income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Page 3

 
WEST END & CITY PROPERTY FINANCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.7

Financial instruments

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

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

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

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

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

Page 4

 
WEST END & CITY PROPERTY FINANCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

2.Accounting policies (continued)


2.7
Financial instruments (continued)

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees




The average monthly number of employees, including directors, during the year was 4 (2022 - 4).


4.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 December 2022
10



At 30 November 2023
10




Page 5

 
WEST END & CITY PROPERTY FINANCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

5.


Debtors

2023
2022
£
£


Other debtors
4,768,492
2,960,779

4,768,492
2,960,779



6.


Cash and cash equivalents

2023
2022
£
£

Cash at bank and in hand
532,876
55,244

532,876
55,244



7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Amounts owed to group undertakings
2,550,000
885,000

Corporation tax
41,144
19,729

Other creditors
2,398,860
1,937,587

Accruals and deferred income
2,910
2,911

4,992,914
2,845,227



8.


Related party transactions

At the year-end the following amounts were due from/(to) the related parties:


Loans due from/(to) at 30/11/2023
Loans due from/(to) at 30/11/2022
£
£

Entities with control, joint control or significant influence over the entity
(2,163,000)
(1,653,077)

Page 6

 
WEST END & CITY PROPERTY FINANCE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023

9.


Controlling party

The company's ultimate parent is West End & City Properties Limited, a company incorporated in England and Wales.
The ultimate controlling party is The Alan Mattey Will Trust, due to its majority shareholding in the ultimate parent company.

 
Page 7