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REGISTERED NUMBER: 05706244 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 March 2024

for

West Lodge Property Development Limited

West Lodge Property Development Limited (Registered number: 05706244)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


West Lodge Property Development Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: A Higginbotham
C Higginbotham
N Higginbotham
J Price





REGISTERED OFFICE: West Lodge Care Home Peases West
Billy Row
Crook
Co. Durham
DL15 9SY





REGISTERED NUMBER: 05706244 (England and Wales)





ACCOUNTANTS: Evelyn Partners
17 Queens Lane
Newcastle upon Tyne
Tyne and Wear
NE1 1RN

West Lodge Property Development Limited (Registered number: 05706244)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 5 3,270,203 3,348,103

CURRENT ASSETS
Debtors 6 1,000 1,000
Cash at bank 62,034 88,651
63,034 89,651
CREDITORS
Amounts falling due within one year 7 (304,349 ) (277,505 )
NET CURRENT LIABILITIES (241,315 ) (187,854 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,028,888

3,160,249

CREDITORS
Amounts falling due after more than one
year

8

(2,348,289

)

(2,364,949

)
NET ASSETS 680,599 795,300

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Profit and loss account 679,599 794,300
SHAREHOLDERS' FUNDS 680,599 795,300

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2024 and were signed on its behalf by:





C Higginbotham - Director


West Lodge Property Development Limited (Registered number: 05706244)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

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

Turnover represents rent receivable.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 20% on cost

Freehold land is not depreciated.

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Impairment of assets
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments on non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

4. EMPLOYEES AND DIRECTORS

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

West Lodge Property Development Limited (Registered number: 05706244)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023
and 31 March 2024 4,360,804 348,773 4,709,577
DEPRECIATION
At 1 April 2023 1,012,701 348,773 1,361,474
Charge for year 77,900 - 77,900
At 31 March 2024 1,090,601 348,773 1,439,374
NET BOOK VALUE
At 31 March 2024 3,270,203 - 3,270,203
At 31 March 2023 3,348,103 - 3,348,103

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 1,000 1,000

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 100,049 163,789
Amounts owed to group undertakings 190,178 102,076
Taxation and social security 9,739 7,258
Other creditors 4,383 4,382
304,349 277,505

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 2,348,289 2,364,949

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 1,867,480 -

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 2,448,338 2,528,738

The bank loans are secured by way of legal charge and debenture over the assets of the company.

10. ULTIMATE CONTROLLING PARTY

The ultimate parent company is West Lodge Holdings Limited a company registered in England and Wales. The registered office of the parent company is Peases West, Billy Row, Crook, County Durham.