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REGISTERED NUMBER: 13130212 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 March 2024

for

WESTHAVEN DEVELOPMENTS LIMITED

WESTHAVEN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 13130212)

Contents of the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WESTHAVEN DEVELOPMENTS LIMITED

Company Information
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: L A Hopper
H E H St George





REGISTERED OFFICE: 3 Southernhay West
Exeter
Devon
EX1 1JG





REGISTERED NUMBER: 13130212 (England and Wales)





ACCOUNTANTS: Haines Watts
3 Southernhay West
Exeter
Devon
EX1 1JG

WESTHAVEN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 13130212)

Balance Sheet
31 MARCH 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 5 28,545 34,803
Investments 6 800 -
29,345 34,803

CURRENT ASSETS
Stocks 1,607,595 1,421,231
Debtors 7 150,206 131,929
Cash at bank 94,164 65,594
1,851,965 1,618,754
CREDITORS
Amounts falling due within one year 8 (1,235,428 ) (888,642 )
NET CURRENT ASSETS 616,537 730,112
TOTAL ASSETS LESS CURRENT
LIABILITIES

645,882

764,915

CREDITORS
Amounts falling due after more than one
year

9

(600,000

)

(575,000

)
NET ASSETS 45,882 189,915

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 44,882 188,915
45,882 189,915

WESTHAVEN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 13130212)

Balance Sheet - continued
31 MARCH 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

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 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.

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 Board of Directors and authorised for issue on 18 September 2024 and were signed on its behalf by:





L A Hopper - Director


WESTHAVEN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 13130212)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 MARCH 2024


1. STATUTORY INFORMATION

Westhaven Developments 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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
Residential properties and land

Turnover is recognised at legal completion in respect of the total proceeds of building and land sales.
Turnover is measured at the fair value of consideration received or receivable and represents the
amounts receivable for the property, net of VAT.

Construction contracts

Turnover is only recognised on a construction contract where the outcome can be estimated reliably.
Turnover and costs are recognised by reference to the stage of completion of contract activity at the
year-end date. This is normally measured by surveys of work performed to date. Contracts are only
treated as construction contracts where they have been specifically negotiated for the construction of
a property.

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 - 25% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stock and work in progress are valued at the lower of cost and estimated selling price less costs to complete and sell; which is equivalent to the net realisable value. Costs comprise direct materials, direct labour costs and those overheads which have been incurred in bringing the stocks to their present location and condition. Management assess the costs and where required will provide against the stock.

Properties held for sale are stated at the lower of cost and net realisable value.

WESTHAVEN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 13130212)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


3. ACCOUNTING POLICIES - continued

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its 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.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 10,125 27,795 833 38,753
Additions 3,152 - 214 3,366
At 31 March 2024 13,277 27,795 1,047 42,119
DEPRECIATION
At 1 April 2023 3,198 579 173 3,950
Charge for year 2,585 6,804 235 9,624
At 31 March 2024 5,783 7,383 408 13,574
NET BOOK VALUE
At 31 March 2024 7,494 20,412 639 28,545
At 31 March 2023 6,927 27,216 660 34,803

WESTHAVEN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 13130212)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 825
Disposals (25 )
At 31 March 2024 800
NET BOOK VALUE
At 31 March 2024 800

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 135,675 -
Amounts recoverable on contracts - 66,320
VAT 10,811 56,277
Prepayments 3,720 9,332
150,206 131,929

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other loans 1,044,703 653,045
Trade creditors 43,007 114,498
Tax - 1,888
Social security and other taxes 11,791 16,789
Other creditors 10,000 -
Directors' current accounts 18,663 30,323
Accruals and deferred income 107,264 72,099
1,235,428 888,642

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Directors' loan accounts 600,000 575,000

WESTHAVEN DEVELOPMENTS LIMITED (REGISTERED NUMBER: 13130212)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 MARCH 2024


10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Loan 307,000 246,964

There is a charge with Exeter Finance Limited dated 12 May 2023 over the freehold property known as 'land on the North side of Potters Lodge' St Issey, Wadebridge PL27 7QY.

11. RELATED PARTY DISCLOSURES

There is a loan from a Director totalling £500,000 (2023 - £500,000) at the year end. There is interest accruing on this loan, charged to the profit and loss account for the period in which it relates.

There is a loan from a Director totalling £100,000 (2023 - £75,000) at the year end.There is interest accruing on this loan, charged to the profit and loss account for the period in which it relates.

During the year, a director had a current account with the company. At the balance sheet date the amount due from the company is £14,500 (2023 - £29,500).

During the year, a director had a current account with the company. At the balance sheet date the amount due from the company is £4,163 (2023 - £823).