0 false false false false false false false false false false true false false false false true true false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 800,000 800,000 800,000 xbrli:pure xbrli:shares iso4217:GBP 8533483 2023-01-01 2023-12-31 8533483 2023-12-31 8533483 2022-12-31 8533483 2022-01-01 2022-12-31 8533483 2022-12-31 8533483 2021-12-31 8533483 bus:Director1 2023-01-01 2023-12-31 8533483 core:WithinOneYear 2023-12-31 8533483 core:WithinOneYear 2022-12-31 8533483 core:AfterOneYear 2023-12-31 8533483 core:AfterOneYear 2022-12-31 8533483 core:ShareCapital 2023-12-31 8533483 core:ShareCapital 2022-12-31 8533483 core:RetainedEarningsAccumulatedLosses 2023-12-31 8533483 core:RetainedEarningsAccumulatedLosses 2022-12-31 8533483 core:LandBuildings 2023-12-31 8533483 core:LandBuildings 2022-12-31 8533483 bus:SmallEntities 2023-01-01 2023-12-31 8533483 bus:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 8533483 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 8533483 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 8533483 bus:FullAccounts 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: 8533483
West Park House Developments Limited
Filleted Unaudited Financial Statements
31 December 2023
West Park House Developments Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Tangible assets
4
800,000
800,000
Current assets
Debtors
5
724,244
684,250
Cash at bank and in hand
26,487
42,182
---------
---------
750,731
726,432
Creditors: amounts falling due within one year
6
1,250,066
1,231,442
------------
------------
Net current liabilities
499,335
505,010
---------
---------
Total assets less current liabilities
300,665
294,990
Creditors: amounts falling due after more than one year
7
30,093
35,648
Provisions
Taxation including deferred tax
70,880
53,869
---------
---------
Net assets
199,692
205,473
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
8
199,592
205,373
---------
---------
Shareholders funds
199,692
205,473
---------
---------
These 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 statement of comprehensive income 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 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 financial statements .
West Park House Developments Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 26 September 2024 , and are signed on behalf of the board by:
T Benson
Director
Company registration number: 8533483
West Park House Developments Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 3 Greengate, Cardale Park, Harrogate, HG3 1GY.
2. Statement of compliance
These 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 accounts are prepared on the going concern basis.
Going concern
The Directors confirm that, after reviewing expenditure commitments, expected cash flows and borrowing facilities, they have a reasonable expectation that the Company has adequate resources to continue in operational existence for the next financial year and the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (b) No cash flow statement has been presented for the company.
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. If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis.
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.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
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 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.
Financial instruments
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.
4. Tangible assets
Land and buildings
£
Cost
At 1 January 2023 and 31 December 2023
800,000
---------
Depreciation
At 1 January 2023 and 31 December 2023
---------
Carrying amount
At 31 December 2023
800,000
---------
At 31 December 2022
800,000
---------
5. Debtors
2023
2022
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
181,000
181,000
Other debtors
543,244
503,250
---------
---------
724,244
684,250
---------
---------
6. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
5,556
5,556
Trade creditors
2,546
4,500
Other creditors
1,241,964
1,221,386
------------
------------
1,250,066
1,231,442
------------
------------
7. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
30,093
35,648
--------
--------
8. Reserves
Profit and loss account - This reserve records retained earnings and accumulated losses. Included within the Profit and Loss reserve is an amount of £212,640 relating to the revaluation of investment properties (net of deferred tax provisions) which are un-distributable
9. Director's advances, credits and guarantees
The directors loan account remained in credit throughout the current year. There were no guarantees in the year.
10. Related party transactions
The company was under the control of the directors throughout the current period. No other transactions are required to be disclosed under the Financial Reporting Standard 102.