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REGISTERED NUMBER: 12539702 (England and Wales)









WESTWOODS HOLDINGS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024






WESTWOODS HOLDINGS LIMITED (REGISTERED NUMBER: 12539702)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


WESTWOODS HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTOR: A P W Fairbanks





REGISTERED OFFICE: Belvedere House
Pynes Hill
EXETER
Devon
EX2 5WS





REGISTERED NUMBER: 12539702 (England and Wales)





ACCOUNTANTS: Mark Holt & Co Limited
Chartered Accountants
7 Sandy Court
Ashleigh Way
Langage Business Park
Plymouth
Devon
PL7 5JX

WESTWOODS HOLDINGS LIMITED (REGISTERED NUMBER: 12539702)

ABRIDGED BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investments 5 2,562,598 2,562,698

CURRENT ASSETS
Debtors 2,326,873 3,374,921
Cash at bank 505,342 400,129
2,832,215 3,775,050
CREDITORS
Amounts falling due within one year 1,148,081 2,792,261
NET CURRENT ASSETS 1,684,134 982,789
TOTAL ASSETS LESS CURRENT LIABILITIES 4,246,732 3,545,487

CAPITAL AND RESERVES
Called up share capital 1,200 1,200
Share premium 1,960,298 1,960,298
Retained earnings 2,285,234 1,583,989
4,246,732 3,545,487

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 January 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 1 October 2024 and were signed by:





A P W Fairbanks - Director


WESTWOODS HOLDINGS LIMITED (REGISTERED NUMBER: 12539702)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Westwoods Holdings 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

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

The value of investments is reviewed annually for any evidence of impairment. Any impairment identified would be recognised in the Profit and Loss Account.

Taxation
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated.

Deferred tax assets are only 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. If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.

Deferred tax is calculated 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.

The tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income).

WESTWOODS HOLDINGS LIMITED (REGISTERED NUMBER: 12539702)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

3. ACCOUNTING POLICIES - continued

Provisions for liabilities
Provisions are recognised when the Company has a present (legal or constructive) obligation as a result of a past event; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

The amount recognised as a provision is the best estimate of the consideration required to settle the present recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance costs in profit or loss in the period it arises.

The Company recognises a provision for annual leave accrued by employees for services rendered in the current period, and which employees are entitled to carry forward and use within the next 12 months, measured at the salary costs payable for the period of absence.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at the transaction price.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

5. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1 February 2023 2,562,698
Disposals (100 )
At 31 January 2024 2,562,598
NET BOOK VALUE
At 31 January 2024 2,562,598
At 31 January 2023 2,562,698

On 26th April 2023, the company disposed of its 69% shareholding in ASAP Locksmiths Services Limited. This had been included within investments at the year end at a nominal value of £100. The company has retained its other shareholdings in subsidiaries.

6. RELATED PARTY DISCLOSURES

At the year end there was an overdrawn Directors Loan Account totalling £101,433 (2023: £95,492 ). Interest has been charged on the overdrawn balance during the year of £546 (2023: £3,000). This has been cleared within 9 months of the year end by way of taxable dividends.

At the year end loans were outstanding from related parties, being companies under common control. The total outstanding at the year end was £186,380 (2023: £141,000) and this balance is unsecured, interest free and repayable on demand.