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REGISTERED NUMBER: 05482687 (England and Wales)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

WESTLANDS HOLDINGS LIMITED

WESTLANDS HOLDINGS LIMITED (REGISTERED NUMBER: 05482687)






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


WESTLANDS HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: R N Lewis
P A Lewis





REGISTERED OFFICE: Moorland Business Park
Moorland Road
Indian Queens
ST COLUMB
Cornwall
TR9 6HJ





REGISTERED NUMBER: 05482687 (England and Wales)





ACCOUNTANTS: TC Group
The Old Carriage Works
Moresk Road
Truro
Cornwall
TR1 1DG

WESTLANDS HOLDINGS LIMITED (REGISTERED NUMBER: 05482687)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,359 6,932
Investments 5 349,934 349,934
Investment property 6 918,918 918,918
1,271,211 1,275,784

CURRENT ASSETS
Debtors 7 505 207
Cash at bank 155,885 157,394
156,390 157,601
CREDITORS
Amounts falling due within one year 8 586,203 555,482
NET CURRENT LIABILITIES (429,813 ) (397,881 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

841,398

877,903

CREDITORS
Amounts falling due after more than one
year

9

(458,669

)

(483,419

)

PROVISIONS FOR LIABILITIES (8,729 ) (9,456 )
NET ASSETS 374,000 385,028

CAPITAL AND RESERVES
Called up share capital 5,003 5,003
Share premium 344,931 344,931
Retained earnings 24,066 35,094
374,000 385,028

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.

WESTLANDS HOLDINGS LIMITED (REGISTERED NUMBER: 05482687)

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 23 August 2024 and were signed on its behalf by:





R N Lewis - Director


WESTLANDS HOLDINGS LIMITED (REGISTERED NUMBER: 05482687)

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

1. STATUTORY INFORMATION

Westlands Holdings 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.

Turnover
Turnover represents the total invoice value, excluding value added tax, of holiday rentals made during the period. Rental income is recognised in the period in which the rental took place.

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 cost

Investments in subsidiaries
Investment in subsidiary undertakings are recognised at cost.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

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.

WESTLANDS HOLDINGS LIMITED (REGISTERED NUMBER: 05482687)

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

2. ACCOUNTING POLICIES - continued

Going concern
Notwithstanding the net current liabilities of £429,813 (2023 £397,881), at the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. In particular, amounts owed to group undertakings of £529,591 (2023 £502,639) are not required to be paid until the company has sufficient funds available. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 32,120
DEPRECIATION
At 1 April 2023 25,188
Charge for year 4,573
At 31 March 2024 29,761
NET BOOK VALUE
At 31 March 2024 2,359
At 31 March 2023 6,932

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 April 2023
and 31 March 2024 349,934
NET BOOK VALUE
At 31 March 2024 349,934
At 31 March 2023 349,934

WESTLANDS HOLDINGS LIMITED (REGISTERED NUMBER: 05482687)

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

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 918,918
NET BOOK VALUE
At 31 March 2024 918,918
At 31 March 2023 918,918

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 505 207

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 22,278 22,278
Trade creditors 99 60
Amounts owed to group undertakings 529,591 502,639
Other creditors 34,235 30,505
586,203 555,482

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 458,669 483,419

The bank loans are secured by fixed charges over the property, plant and machinery, goodwill and investments of the company, as well by a floating charge over all other property, assets and titles of the company both now and in the future. There is also a cross guarantee between the company and its subsidiary company, Wessex Slate and Tile Roofing Services Limited.