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No description of principal activity
2023-01-01
Sage Accounts Production Advanced 2023 - FRS102_2023
xbrli:pure
xbrli:shares
iso4217:GBP
03055964
2023-01-01
2023-12-31
03055964
2023-12-31
03055964
2022-12-31
03055964
2022-01-01
2022-12-31
03055964
2022-12-31
03055964
2021-12-31
03055964
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2023-01-01
2023-12-31
03055964
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2023-01-01
2023-12-31
03055964
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2023-12-31
03055964
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2022-12-31
03055964
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2023-12-31
03055964
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2022-12-31
03055964
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2023-12-31
03055964
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2022-12-31
03055964
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2023-12-31
03055964
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2022-12-31
03055964
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2023-12-31
03055964
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2022-12-31
03055964
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2023-12-31
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2023-12-31
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2023-01-01
2023-12-31
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2023-01-01
2023-12-31
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2023-01-01
2023-12-31
COMPANY REGISTRATION NUMBER:
03055964
Filleted Unaudited Abridged Financial Statements |
|
Abridged Financial Statements |
|
Year ended 31 December 2023
Chartered accountant's report to the director on the preparation of the unaudited statutory abridged financial statements |
1 |
|
|
Abridged statement of financial position |
2 |
|
|
Notes to the abridged financial statements |
4 |
|
|
Chartered Accountant's Report to the Director on the Preparation of the Unaudited Statutory Abridged Financial Statements of
Westerleigh Limited |
|
Year ended 31 December 2023
As described on the abridged statement of financial position, the director of the company is responsible for the preparation of the abridged financial statements for the year ended 31 December 2023, which comprise the abridged statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these abridged financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
HARPER SHELDON LIMITED
Chartered accountants
Midway House
Staverton Technology Park
Herrick Way, Staverton
Cheltenham, Glos.
GL51 6TQ
17 September 2024
Abridged Statement of Financial Position |
|
31 December 2023
Fixed assets
Tangible assets |
5 |
300,000 |
300,000 |
|
|
|
|
Current assets
Stocks |
358,436 |
358,436 |
Debtors |
807,305 |
799,988 |
Cash at bank and in hand |
289,746 |
233,085 |
|
------------ |
------------ |
|
1,455,487 |
1,391,509 |
|
|
|
Creditors: amounts falling due within one year |
273,110 |
263,582 |
|
------------ |
------------ |
Net current assets |
1,182,377 |
1,127,927 |
|
------------ |
------------ |
Total assets less current liabilities |
1,482,377 |
1,427,927 |
|
|
|
Creditors: amounts falling due after more than one year |
6 |
389,469 |
406,236 |
|
|
|
|
Provisions |
11,396 |
11,396 |
|
------------ |
------------ |
Net assets |
1,081,512 |
1,010,295 |
|
------------ |
------------ |
|
|
|
Capital and reserves
Called up share capital |
4 |
4 |
Other reserves |
34,187 |
34,187 |
Profit and loss account |
1,047,321 |
976,104 |
|
------------ |
------------ |
Shareholders funds |
1,081,512 |
1,010,295 |
|
------------ |
------------ |
|
|
|
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged income statement has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
Abridged Statement of Financial Position (continued) |
|
31 December 2023
All of the members have consented to the preparation of the abridged income statement and the abridged statement of financial position for the year ending 31 December 2023 in accordance with Section 444(2A) of the Companies Act 2006.
These abridged financial statements were approved by the
board of directors
and authorised for issue on
17 September 2024
, and are signed on behalf of the board by:
Company registration number:
03055964
Notes to the Abridged Financial Statements |
|
Year ended 31 December 2023
1.
General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is Victoria House, Churchill Road, Leckhampton, Cheltenham, Gloucestershire, GL53 7EG, United Kingdom.
2.
Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Investment property
Investment property is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the abridged statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
(2022:
1
).
5.
Tangible assets
|
£ |
Cost |
|
At 1 January 2023 and 31 December 2023 |
300,000 |
|
--------- |
Depreciation |
|
At 1 January 2023 and 31 December 2023 |
– |
|
--------- |
Carrying amount |
|
At 31 December 2023 |
300,000 |
|
--------- |
At 31 December 2022 |
300,000 |
|
--------- |
|
|
Included within the above is investment property as follows:
|
£ |
|
--------- |
At 1 January 2023 and 31 December 2023 |
300,000 |
|
--------- |
|
|
Investment property was valued at the balance sheet date by the director on an open-market basis. Had the investment property been held at historic cost the value would be £254,418 (2022: £254,418)
6.
Creditors:
amounts falling due after more than one year
Mortgages are secured with fixed and floating charges over the assets of the company.
7.
Related party transactions
As at 31 December 2023, the company had the following balances with related parties: The company owed £216,000 (2022: £216,000) to Cape Homes Ltd, a company under common control. The company owed £1,419 (2022: £1,419) to MH Group Ltd, a company under common control. The company was owed £526,780 (2022: £526,780) by Mark Holland (Cheltenham) Limited, its parent company. No interest was charged on the above balances, and there are no fixed repayment terms.