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Westgate Students Limited
Registered Number:08753731
For the year ended 31 March 2024
England and Wales
Unaudited Financial Statements
2
For the year ended 31 March 2024
Westgate Students Limited
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
Registered Number :
08753731
As at 31 March 2024
Westgate Students Limited
Statement of Financial Position
£
£
2023
2024
Notes
Fixed assets
Property, plant and equipment
3,595
4,325
3
3,595
4,325
Current assets
Trade and other receivables
75,000
89,000
4
294,220
Cash and cash equivalents
354,731
443,731
369,220
Trade and other payables: amounts falling due within one year
(79,531)
(107,248)
5
289,689
336,483
Net current assets
Total assets less current liabilities
340,078
294,014
Trade and other payables: amounts falling due after more than
one year
(20,118)
(11,940)
6
328,138
Net assets
273,896
Capital and reserves
Called up share capital
100
100
Retained earnings
328,038
273,796
328,138
273,896
Shareholders' funds
For the year ended 31 March 2024 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
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 director acknowledges his responsibilities for:a) ensuring that the company keeps proper 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 Section 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.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Mr Charanjiv Shukla Director
These financial statements were approved and authorised for issue by the Board on 30 July 2024 and were signed by:
The notes form part of these financial statements
1 of 4
4
For the year ended 31 March 2024
Westgate Students Limited
Notes to the Financial Statements
Statutory Information
Westgate Students Limited is a private limited company, limited by shares, domiciled in England and Wales, registration number
08753731.
Registered address:
46 Erleigh Road
Reading
Berkshire
RG1 5NA
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial Reporting Standard 102 'The
Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have
been prepared under the historical costs convention as modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, is being amortised evenly over its estimated useful life of 2 years.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
25% Reducing balance
Computer equipment
15% Reducing balance
Fixtures and fittings
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
2. Intangible fixed assets
Goodwill
Cost or valuation
£
At 01 April 2023
40,000
At 31 March 2024
40,000
Amortisation
At 01 April 2023
40,000
At 31 March 2024
40,000
Net book value
At 31 March 2024
-
At 31 March 2023
-
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5
For the year ended 31 March 2024
Westgate Students Limited
Notes to the Financial Statements Continued
3. Property, plant and equipment
Total
Computer
equipment
Fixtures and
fittings
£
£
£
Cost or valuation
At 01 April 2023
20,447
5,022
15,425
At 31 March 2024
15,425
5,022
20,447
Provision for depreciation and impairment
At 01 April 2023
16,122
4,206
11,916
Charge for year
730
204
526
At 31 March 2024
16,852
4,410
12,442
At 31 March 2024
Net book value
2,983
612
3,595
At 31 March 2023
3,509
816
4,325
4. Trade and other receivables
2023
2024
£
£
Other debtors
89,000
75,000
5. Trade and other payables: amounts falling due within one year
2023
2024
£
£
Bank loans and overdraft
10,560
10,560
Trade creditors
359
772
Taxation and social security
28,794
21,887
Accruals and deferred income
1,500
1,500
Directors' loan accounts
65,795
44,812
Other creditors
240
-
107,248
79,531
6. Trade and other payables: amounts falling due after more than one year
2023
2024
£
£
Bank loans and overdraft
11,940
20,118
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6
For the year ended 31 March 2024
Westgate Students Limited
Notes to the Financial Statements Continued
7. Average number of persons employed
During the year the average number of employees was 1 (2023 : 1)
4 of 4