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Registration number: 13758609

West 16th Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2023

 

West 16th Ltd

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Income Statement

4

Statement of Financial Position

5 to 6

Statement of Changes in Equity

7

Notes to the Unaudited Financial Statements

8 to 13

Detailed Income Statement

14 to 16

 

West 16th Ltd

Company Information

Directors

Mrs Z Steyn

Mrs Anneke Herselman

Registered office

7 Tollgate Drive
London
SE21 7LS

Accountants

DSK Partners LLP
Chartered Accountants
D S House
306 High Street
Croydon
Surrey
CR0 1NG

 

West 16th Ltd

Directors' Report for the Year Ended 30 November 2023

The directors present their report and the financial statements for the year ended 30 November 2023.

Directors of the company

The directors who held office during the year were as follows:

Mrs Z Steyn

Mrs Anneke Herselman (appointed 17 May 2023)

Principal activity

The principal activity of the company is unlicensed restaurants and cafes.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the Board on 2 September 2024 and signed on its behalf by:

Mrs Z Steyn
Director

   
     
 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
West 16th Ltd
for the Year Ended 30 November 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of West 16th Ltd for the year ended 30 November 2023 as set out on pages 4 to 13 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of West 16th Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of West 16th Ltd and state those matters that we have agreed to state to the Board of Directors of West 16th Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than West 16th Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that West 16th Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of West 16th Ltd. You consider that West 16th Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of West 16th Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

DSK Partners LLP
Chartered Accountants
D S House
306 High Street
Croydon
Surrey
CR0 1NG

2 September 2024

 

West 16th Ltd

Income Statement for the Year Ended 30 November 2023

Note

2023
£

2022
£

Turnover

 

25,540

-

Cost of sales

 

(20,172)

-

Gross profit

 

5,368

-

Administrative expenses

 

(59,467)

-

Other operating income

 

521

-

Operating loss

 

(53,578)

-

Other interest receivable and similar income

 

277

-

Loss before tax

4

(53,301)

-

Tax on (loss)/profit

 

(62,560)

-

Loss for the financial year

 

(115,861)

-

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

West 16th Ltd

(Registration number: 13758609)
Statement of Financial Position as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

5

5,108

-

Tangible assets

6

250,240

-

 

255,348

-

Current assets

 

Stocks

7

15,000

-

Debtors

8

10,744

100

Cash at bank and in hand

 

59,587

-

 

85,331

100

Creditors: Amounts falling due within one year

9

(393,880)

-

Net current (liabilities)/assets

 

(308,549)

100

Total assets less current liabilities

 

(53,201)

100

Provisions for liabilities

(62,560)

-

Net (liabilities)/assets

 

(115,761)

100

Capital and reserves

 

Called up share capital

100

100

Retained earnings

(115,861)

-

Shareholders' (deficit)/funds

 

(115,761)

100

 

West 16th Ltd

(Registration number: 13758609)
Statement of Financial Position as at 30 November 2023 (continued)

For the financial year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 2 September 2024 and signed on its behalf by:
 

Mrs Z Steyn
Director

   
     
 

West 16th Ltd

Statement of Changes in Equity for the Year Ended 30 November 2023

Share capital
£

Retained earnings
£

Total
£

At 1 December 2022

100

-

100

Loss for the year

-

(115,861)

(115,861)

At 30 November 2023

100

(115,861)

(115,761)


 

Share capital
£

Total
£

New share capital subscribed

100

100

At 30 November 2022

100

100

 

West 16th Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
7 Tollgate Drive
London
SE21 7LS
United Kingdom

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

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

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

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 sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

West 16th Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

2

Accounting policies (continued)

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Furniture and fittings

25% RBM

Plant and machinery

25% RBM

Leasehold improvements

10% SLM

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Trademark

10 Years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

West 16th Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

2

Accounting policies (continued)

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors 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 the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Financial instruments

Classification
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.
 

 

West 16th Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 18 (2022 - 0).

4

Loss/profit before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

18,750

-

Amortisation expense

452

-

 

West 16th Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

5

Intangible assets

Trademarks, patents and licenses
 £

Total
£

Cost or valuation

Additions acquired separately

5,560

5,560

At 30 November 2023

5,560

5,560

Amortisation

Amortisation charge

452

452

At 30 November 2023

452

452

Carrying amount

At 30 November 2023

5,108

5,108

6

Tangible assets

Leasehold improvements
£

Furniture and fittings
£

Plant and machinery
£

Total
£

         

Cost or valuation

Additions

158,185

26,289

84,516

268,990

At 30 November 2023

158,185

26,289

84,516

268,990

Depreciation

Charge for the year

9,855

2,426

6,469

18,750

At 30 November 2023

9,855

2,426

6,469

18,750

Carrying amount

At 30 November 2023

148,330

23,863

78,047

250,240

7

Stocks

2023
£

2022
£

Other inventories

15,000

-

 

West 16th Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023 (continued)

8

Debtors

Current

2023
£

2022
£

Prepayments

1,592

-

Other debtors

9,152

100

 

10,744

100

9

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

36,693

-

Taxation and social security

2,151

-

Accruals and deferred income

2,300

-

Other creditors

352,736

-

393,880

-

 

West 16th Ltd

Detailed Income Statement for the Year Ended 30 November 2023

2023
£

2022
£

Turnover (analysed below)

25,540

-

Cost of sales (analysed below)

(20,172)

-

Gross profit

5,368

-

Gross profit (%)

21.02%

0%

Administrative expenses

Employment costs (analysed below)

(27,964)

-

Establishment costs (analysed below)

(4,105)

-

General administrative expenses (analysed below)

(7,665)

-

Finance charges (analysed below)

(531)

-

Depreciation costs (analysed below)

(19,202)

-

(59,467)

-

Other operating income (analysed below)

521

-

Operating loss

(53,578)

-

Other interest receivable and similar income (analysed below)

277

-

Loss before tax

(53,301)

-

 

West 16th Ltd

Detailed Income Statement for the Year Ended 30 November 2023 (continued)

2023
£

2022
£

   

Turnover

Sale of goods, UK

25,540

-

   

Cost of sales

Purchases

(33,773)

-

Direct costs

(1,399)

-

Closing finished goods

15,000

-

(20,172)

-

   

Employment costs

Wages and salaries (excluding directors)

(22,963)

-

Directors remuneration

(2,275)

-

Staff training

(2,324)

-

Travelling

(402)

-

(27,964)

-

   

Establishment costs

Rates

(453)

-

Light, heat and power

(1,417)

-

Insurance

(99)

-

Repairs and maintenance

(2,136)

-

(4,105)

-

   

General administrative expenses

Telephone and fax

(130)

-

Computer software and maintenance costs

(1,633)

-

Printing, postage and stationery

(113)

-

Sundry expenses

(13)

-

Cleaning

(1,661)

-

Parking charges

(61)

-

Advertising

(1,561)

-

Accountancy fees

(2,085)

-

Consultancy fees

(242)

-

Legal and professional fees

(166)

-

(7,665)

-

   

Finance charges

Bank charges

(531)

-

 

West 16th Ltd

Detailed Income Statement for the Year Ended 30 November 2023 (continued)

2023
£

2022
£

   

Depreciation costs

Amortisation of patents

(452)

-

Depreciation of leasehold improvement

(9,855)

-

Depreciation of plant and machinery (owned)

(6,469)

-

Depreciation of fixtures and fittings (owned)

(2,426)

-

(19,202)

-

   

Other operating income

Other operating income

521

-

   

Other interest receivable and similar income

HMRC interest

277

-