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REGISTERED NUMBER: 06237012 (England and Wales)










Unaudited Financial Statements

For The Year Ended 31 December 2023

for

West Country Developers Limited

West Country Developers Limited (Registered number: 06237012)






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


West Country Developers Limited

Company Information
For The Year Ended 31 December 2023







DIRECTOR: J F Wheeler





REGISTERED OFFICE: Goodridge Court
Goodridge Avenue
Gloucester
Gloucestershire
GL2 5EN





REGISTERED NUMBER: 06237012 (England and Wales)





ACCOUNTANTS: Kingscott Dix Limited
Chartered Accountants
Goodridge Court
Goodridge Avenue
Gloucester
Gloucestershire
GL2 5EN

West Country Developers Limited (Registered number: 06237012)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 204,000 204,000

CURRENT ASSETS
Debtors 5 989 710
Cash at bank 1,015 2,187
2,004 2,897
CREDITORS
Amounts falling due within one year 6 2,107 7,144
NET CURRENT LIABILITIES (103 ) (4,247 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

203,897

199,753

CREDITORS
Amounts falling due after more than one
year

7

188,838

188,837
NET ASSETS 15,059 10,916

CAPITAL AND RESERVES
Called up share capital 8 4 4
Non-distributable Revaluation
Reserve 9 28,158 28,158
Retained earnings 9 (13,103 ) (17,246 )
SHAREHOLDERS' FUNDS 15,059 10,916

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

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.

West Country Developers Limited (Registered number: 06237012)

Balance Sheet - continued
31 December 2023


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 director and authorised for issue on 4 September 2024 and were signed by:





J F Wheeler - Director


West Country Developers Limited (Registered number: 06237012)

Notes to the Financial Statements
For The Year Ended 31 December 2023

1. STATUTORY INFORMATION

West Country Developers 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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment property is shown at the directors most recent valuation. Any aggregate surplus or deficit arising from changes in fair value are recognised in the profit and loss account.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Basic financial liabilities
Basic financial liabilities, including trade and other payables and bank loans are recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

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.

West Country Developers Limited (Registered number: 06237012)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued

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.

Going concern
The company meets its day to day working capital requirements through loans from the company's bankers and its director, which are payable on demand. The director consider that the company will continue to operate within the loans currently agreed. On this basis, the director considers it appropriate to prepare the financial statements on a going concern basis.

3. EMPLOYEES AND DIRECTORS

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 204,000
NET BOOK VALUE
At 31 December 2023 204,000
At 31 December 2022 204,000

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2018 37,268
Valuation in 2019 (9,110 )
Cost 175,842
204,000

If the investment property had not been revalued it would have been included at the following historical cost:

31.12.23 31.12.22
£    £   
Cost 175,842 175,842

Investment property was valued on an open market basis on 31 December 2021 by the directors .

West Country Developers Limited (Registered number: 06237012)

Notes to the Financial Statements - continued
For The Year Ended 31 December 2023

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other debtors 989 710

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Other creditors 780 1,331
Directors' current accounts - 5,813
Accruals and deferred income 1,327 -
2,107 7,144

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans more 5 yr by instal 188,838 188,837

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 188,838 188,837

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
4 Ordinary £1 4 4

9. RESERVES
Non-distributable
Retained Revaluation
earnings Reserve Totals
£    £    £   

At 1 January 2023 (17,246 ) 28,158 10,912
Profit for the year 4,143 4,143
At 31 December 2023 (13,103 ) 28,158 15,055