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Company No: 04636810 (England and Wales)

WESTFORD MECHANICAL LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2023
Pages for filing with the registrar

WESTFORD MECHANICAL LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2023

Contents

WESTFORD MECHANICAL LIMITED

COMPANY INFORMATION

For the financial year ended 31 December 2023
WESTFORD MECHANICAL LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 December 2023
DIRECTOR Mr A J Fewings
REGISTERED OFFICE Ground Floor Blackbrook Gate 1
Blackbrook Business Park
Taunton
TA1 2PX
United Kingdom
BUSINESS ADDRESS Unit 2, Venture Way, Priorswood Industrial Estate, Taunton, Somerset, TA2 8DG
COMPANY NUMBER 04636810 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Blackbrook Gate 1
Blackbrook Business Park
Taunton
Somerset TA1 2PX
WESTFORD MECHANICAL LIMITED

BALANCE SHEET

As at 31 December 2023
WESTFORD MECHANICAL LIMITED

BALANCE SHEET (continued)

As at 31 December 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 4 104,157 74,508
104,157 74,508
Current assets
Debtors 5 771,450 959,166
Cash at bank and in hand 6 554,845 426,714
1,326,295 1,385,880
Creditors: amounts falling due within one year 7 ( 462,980) ( 669,239)
Net current assets 863,315 716,641
Total assets less current liabilities 967,472 791,149
Provision for liabilities 8 ( 12,038) ( 13,065)
Net assets 955,434 778,084
Capital and reserves
Called-up share capital 9 10 10
Profit and loss account 955,424 778,074
Total shareholder's funds 955,434 778,084

For the financial year ending 31 December 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Westford Mechanical Limited (registered number: 04636810) were approved and authorised for issue by the Director on 16 April 2024. They were signed on its behalf by:

Mr A J Fewings
Director
WESTFORD MECHANICAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
WESTFORD MECHANICAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Westford Mechanical Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Ground Floor Blackbrook Gate 1, Blackbrook Business Park, Taunton, Somerset, United Kingdom. The principal place of business is Unit 2, Venture Way, Priorswood Industrial Estate, Taunton, Somerset, TA2 8DG.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £1.

Going concern

The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured and it is probable that future economic benefits will flow to the entity.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a reducing balance basis over its expected useful life, as follows:

Vehicles 25 % reducing balance
Office equipment 15 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the director is required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the director has made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

The director is satisfied, having considered the current financial position and performance of the company, that the going concern assessment (which is a critical accounting judgement) remains appropriate. In making this assessment, the director has considered the recoverability of debtors, future contracts and cash flow projections (from the date of approval of these financial statements).

3. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 20 23

4. Tangible assets

Vehicles Office equipment Total
£ £ £
Cost
At 01 January 2023 132,697 41,443 174,140
Additions 37,339 10,800 48,139
Disposals ( 7,244) 0 ( 7,244)
At 31 December 2023 162,792 52,243 215,035
Accumulated depreciation
At 01 January 2023 68,284 31,348 99,632
Charge for the financial year 16,881 1,514 18,395
Disposals ( 7,149) 0 ( 7,149)
At 31 December 2023 78,016 32,862 110,878
Net book value
At 31 December 2023 84,776 19,381 104,157
At 31 December 2022 64,413 10,095 74,508

5. Debtors

2023 2022
£ £
Trade debtors 621,471 804,321
Amounts owed by related parties 112,849 112,849
Other taxation and social security 1,482 0
Other debtors 35,648 41,996
771,450 959,166

6. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 554,845 426,714

7. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 353,410 605,789
Taxation and social security 103,950 61,080
Other creditors 5,620 2,370
462,980 669,239

8. Deferred tax

2023 2022
£ £
At the beginning of financial year ( 13,065) ( 17,786)
Credited to the Statement of Income and Retained Earnings 1,027 4,721
At the end of financial year ( 12,038) ( 13,065)

9. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
10 Ordinary £1 shares of £ 1.00 each 10 10

10. Financial commitments

Commitments

2023 2022
£ £
Total future minimum lease payments under non-cancellable operating lease 0 9,299