REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
1 JANUARY 2024 TO 22 AUGUST 2024 |
FOR |
WESTWARD LOOK LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD |
1 JANUARY 2024 TO 22 AUGUST 2024 |
FOR |
WESTWARD LOOK LTD |
WESTWARD LOOK LTD (REGISTERED NUMBER: 12113149) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JANUARY 2024 TO 22 AUGUST 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
WESTWARD LOOK LTD |
COMPANY INFORMATION |
FOR THE PERIOD 1 JANUARY 2024 TO 22 AUGUST 2024 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Certified Accountants |
61 Station Road |
Sudbury |
Suffolk |
CO10 2SP |
WESTWARD LOOK LTD (REGISTERED NUMBER: 12113149) |
BALANCE SHEET |
22 AUGUST 2024 |
31.12.23 | 22.8.24 |
£ | £ | Notes | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
Investment property | 5 |
CURRENT ASSETS |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 8 | ( |
) |
( |
) | Retained earnings | ( |
) |
SHAREHOLDERS' FUNDS |
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. |
WESTWARD LOOK LTD (REGISTERED NUMBER: 12113149) |
BALANCE SHEET - continued |
22 AUGUST 2024 |
The financial statements were approved by the Board of Directors and authorised for issue on |
WESTWARD LOOK LTD (REGISTERED NUMBER: 12113149) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JANUARY 2024 TO 22 AUGUST 2024 |
1. | STATUTORY INFORMATION |
Westward Look Ltd is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover |
Turnover represents rental income from property lettings and work done on property maintenance contracts. |
Tangible fixed assets |
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
Fixtures and fittings - 20% on cost |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised within the profit and loss. |
Financial instruments |
The company enters into basic financial instrument transactions, as appropriate and as and when required, that result in the recognition of financial assets and liabilities within the financial statements such as trade and other accounts receivable and payable, bank loans, hire purchase and lease contracts. |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
WESTWARD LOOK LTD (REGISTERED NUMBER: 12113149) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JANUARY 2024 TO 22 AUGUST 2024 |
4. | TANGIBLE FIXED ASSETS |
Fixtures |
and |
fittings |
£ |
COST |
At 1 January 2024 |
Additions |
At 22 August 2024 |
DEPRECIATION |
At 1 January 2024 |
Charge for period |
At 22 August 2024 |
NET BOOK VALUE |
At 22 August 2024 |
At 31 December 2023 |
5. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 January 2024 |
and 22 August 2024 |
NET BOOK VALUE |
At 22 August 2024 |
At 31 December 2023 |
Fair value at 22 August 2024 is represented by: |
£ |
Valuation in 2022 | (33,108 | ) |
Cost | 1,025,345 |
992,237 |
Investment property was valued on an open market basis on 22 August 2024 by the directors . |
WESTWARD LOOK LTD (REGISTERED NUMBER: 12113149) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 JANUARY 2024 TO 22 AUGUST 2024 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
22.8.24 | 31.12.23 |
£ | £ |
Trade debtors |
Amounts owed by group undertakings |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
22.8.24 | 31.12.23 |
£ | £ |
Other creditors |
8. | RESERVES |
Incuded within reserves is a fair value reserve, which has been created through the process of revaluing the investment property held to its open market value each year. The reserve is also adjusted annually for any movements in deferred tax. |
In accordance with FRS 102, the fair value reserve is a 'non-distributable' reserve and is separately disclosed in the balance sheet. |