REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
WESTCOURT REAL ESTATE (EUROPE) LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
FOR |
WESTCOURT REAL ESTATE (EUROPE) LIMITED |
WESTCOURT REAL ESTATE (EUROPE) LIMITED (REGISTERED NUMBER: 07615124) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
WESTCOURT REAL ESTATE (EUROPE) LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
9 Berners Place |
London |
W1T 3AD |
HOLDING COMPANY: |
1st Floor |
18-19 Jockey's Fields |
London |
WC1R 4BW |
WESTCOURT REAL ESTATE (EUROPE) LIMITED (REGISTERED NUMBER: 07615124) |
BALANCE SHEET |
31 DECEMBER 2023 |
2023 | 2022 |
Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investments | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS/(LIABILITIES) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
NET LIABILITIES | ( |
) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital | 10 |
Retained earnings | 11 | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
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. |
WESTCOURT REAL ESTATE (EUROPE) LIMITED (REGISTERED NUMBER: 07615124) |
BALANCE SHEET - continued |
31 DECEMBER 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the director and authorised for issue on |
WESTCOURT REAL ESTATE (EUROPE) LIMITED (REGISTERED NUMBER: 07615124) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
1. | STATUTORY INFORMATION |
Westcourt Real Estate (Europe) Limited is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Tangible fixed assets |
Fixtures and fittings | - |
Computer equipment | - |
Investments in associates |
Investments in associate undertakings are recognised at cost. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
WESTCOURT REAL ESTATE (EUROPE) LIMITED (REGISTERED NUMBER: 07615124) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
Short | and | Computer |
leasehold | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 January 2023 |
and 31 December 2023 |
DEPRECIATION |
At 1 January 2023 |
Charge for year |
At 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
5. | FIXED ASSET INVESTMENTS |
2023 | 2022 |
£ | £ |
Participating interests |
Loans to undertakings in which the company has a participating interest |
Additional information is as follows: |
Interest |
in |
associate |
£ |
COST |
At 1 January 2023 |
and 31 December 2023 |
NET BOOK VALUE |
At 31 December 2023 |
At 31 December 2022 |
WESTCOURT REAL ESTATE (EUROPE) LIMITED (REGISTERED NUMBER: 07615124) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
5. | FIXED ASSET INVESTMENTS - continued |
The company's investments at the Balance Sheet date in the share capital of companies include the following: |
Associated companies |
Registered office: |
Nature of business: |
% |
Class of shares: | holding |
Registered office: |
Nature of business: |
% |
Class of shares: | holding |
Registered office: |
Nature of business: |
% |
Class of shares: | holding |
Loans to |
associates |
£ |
At 1 January 2023 |
and 31 December 2023 |
£270,000 was a loan given to an associated company Victoria Quay Estate Ltd, a company based in Hongkong. |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Amount owed from companies |
under common control | 10,179 | 10,179 |
Directors' current accounts | 7,137 | 6,997 |
Corporation tax recoverable |
Other taxes | 24,747 | 25,101 |
WESTCOURT REAL ESTATE (EUROPE) LIMITED (REGISTERED NUMBER: 07615124) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts (see note 9) |
Trade creditors |
Corporation tax |
Other creditors |
Accrued expenses |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Amounts owed to holding company |
9. | LOANS |
An analysis of the maturity of loans is given below: |
2023 | 2022 |
£ | £ |
Amounts falling due within one year or on demand: |
Bank overdrafts |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
11. | RESERVES |
Retained |
earnings |
£ |
At 1 January 2023 | ( |
) |
Deficit for the year | ( |
) |
At 31 December 2023 | ( |
) |
WESTCOURT REAL ESTATE (EUROPE) LIMITED (REGISTERED NUMBER: 07615124) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31 DECEMBER 2023 |
12. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the years ended 31 December 2023 and 31 December 2022: |
2023 | 2022 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Interest of £140 was paid on overdrawn director's loan account. |
13. | RELATED PARTY DISCLOSURES |
V K Kapoor is a director and shareholders of the following companies. |
Company 1. At the year end the amount due to this company was £385,322(2022:£ 397,422). |
Company 2. At the year end the amount due to and from this company was £NIL(2022:£ 84,720). |
Company 3. At the year end the amount due from this company was £4,644(2022:£4,644). |
Company 5. At the year end the amount due from this company was £5,511(2022:£5,511). |
Company 6. At the year end the amount due from this company was £24(2022:£24). |
Company 8. At the year end the amount due to this company £4,738 (2022:£4,738). |
14. | HOLDING COMPANY |
100% of the issued shares are held by Westcourt Real Estates Development Ltd, a company registered in England. V Kapoor is the ultimate beneficial owner. |
15. | GOING CONCERN |
The accounts are prepared on a going concern basis. The parent company has agreed to support its subsidiary. |