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REGISTERED NUMBER: 04487030 (England and Wales)















Westcoast Imports Limited

Unaudited Financial Statements

for the Year Ended 30 November 2023






Westcoast Imports Limited (Registered number: 04487030)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Abridged Statement of Financial Position 2

Notes to the Financial Statements 4


Westcoast Imports Limited

Company Information
for the Year Ended 30 November 2023







DIRECTORS: J M Jones
G B Jones



REGISTERED OFFICE: Unit 4a
Hawksfield Road
Minehead
Somerset
TA24 5BZ



REGISTERED NUMBER: 04487030 (England and Wales)



ACCOUNTANTS: Maxwells
Chartered Accountants
4 King Square
Bridgwater
Somerset
TA6 3YF



BANKERS: National Westminster Bank plc
9 The Parade
Minehead
Somerset
TA24 5LT

Westcoast Imports Limited (Registered number: 04487030)

Abridged Statement of Financial Position
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - 21,600
Tangible assets 6 46,566 51,345
46,566 72,945

CURRENT ASSETS
Stocks 357,479 374,945
Debtors 18,009 18,780
Cash in hand 982 1,077
376,470 394,802
CREDITORS
Amounts falling due within one year 21,005 11,734
NET CURRENT ASSETS 355,465 383,068
TOTAL ASSETS LESS CURRENT
LIABILITIES

402,031

456,013

CREDITORS
Amounts falling due after more than one
year

(3,319

)

(6,566

)

PROVISIONS FOR LIABILITIES (3,340 ) (3,162 )
NET ASSETS 395,372 446,285

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 395,370 446,283
SHAREHOLDERS' FUNDS 395,372 446,285

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 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.

Westcoast Imports Limited (Registered number: 04487030)

Abridged Statement of Financial Position - continued
30 November 2023


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

All the members have consented to the preparation of an abridged Statement of Financial Position for the year ended 30 November 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 28 August 2024 and were signed on its behalf by:





G B Jones - Director


Westcoast Imports Limited (Registered number: 04487030)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Westcoast Imports 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

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 - 20% on reducing balance and 10% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Westcoast Imports Limited (Registered number: 04487030)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

5. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 December 2022 83,763
Disposals (24,000 )
At 30 November 2023 59,763
AMORTISATION
At 1 December 2022 62,163
Eliminated on disposal (2,400 )
At 30 November 2023 59,763
NET BOOK VALUE

At 30 November 2023 -
At 30 November 2022 21,600

Bitcoin has been invested in during the year to 30 November 2022, it was being amortised over a period of 10 years. The intangible asset was then realised in the year end 30 November 2023.

6. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 December 2022
and 30 November 2023 73,898
DEPRECIATION
At 1 December 2022 22,553
Charge for year 4,779
At 30 November 2023 27,332
NET BOOK VALUE
At 30 November 2023 46,566
At 30 November 2022 51,345

7. SECURED DEBTS

The following secured debts are included within creditors:

30.11.23 30.11.22
£    £   
Bank loans 5,533 9,193