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REGISTERED NUMBER: SC546479 (Scotland)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

FOR

WESTFIELD & CO HOLDINGS LTD

WESTFIELD & CO HOLDINGS LTD (REGISTERED NUMBER: SC546479)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Certified Accountants' Report 7

WESTFIELD & CO HOLDINGS LTD

COMPANY INFORMATION
for the Year Ended 30 September 2023







DIRECTORS: Mr S A Pirie
Mrs L H Gordon





REGISTERED OFFICE: Caledonia
Middlemuir
Whitecairns
Aberdeenshire
AB23 8XP





REGISTERED NUMBER: SC546479 (Scotland)





ACCOUNTANTS: Acumen Accountants and Advisors Limited
Bankhead Drive
City South Office Park
Portlethen
Aberdeenshire
AB12 4XX

WESTFIELD & CO HOLDINGS LTD (REGISTERED NUMBER: SC546479)

BALANCE SHEET
30 September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 31,692 10,527

CURRENT ASSETS
Stocks 10,510 12,440
Debtors 6 81,027 216,837
Cash at bank 744 4,685
92,281 233,962
CREDITORS
Amounts falling due within one year 7 73,076 109,797
NET CURRENT ASSETS 19,205 124,165
TOTAL ASSETS LESS CURRENT
LIABILITIES

50,897

134,692

CREDITORS
Amounts falling due after more than one year 8 (53,110 ) (36,411 )

PROVISIONS FOR LIABILITIES (7,923 ) (2,000 )
NET (LIABILITIES)/ASSETS (10,136 ) 96,281

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings (10,236 ) 96,181
SHAREHOLDERS' FUNDS (10,136 ) 96,281

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 10 October 2024 and were signed on its behalf by:





Mr S A Pirie - Director


WESTFIELD & CO HOLDINGS LTD (REGISTERED NUMBER: SC546479)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

Westfield & Co Holdings Ltd is a private company, limited by shares , registered in Scotland. 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.

Going concern
The financial statements have been prepared on a going concern basis which assumes the company will continue trading for a period of no less than 12 months from the date of this report.

The director acknowledges the negative balance sheet position and has given assurance that they will continue to support the company in order for it to meet it's obligations as they fall due by making funds available.

Turnover
Turnover is stated net of VAT and trade discounts. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer. Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where the contract has only been partially completed at the balances sheet date turnover represents the value of the service provided to date based on a proportion of the total contract value. Where payments are received from customers in advance of services provided, the amounts are recorded as Deferred Income and included as part of Creditors due within one year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost

Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.

The gain or loss arising on the disposal of an asset is determined as the difference between the proceeds and the carrying value of the asset and is included in the profit and loss account.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year 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.


WESTFIELD & CO HOLDINGS LTD (REGISTERED NUMBER: SC546479)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2023

3. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors and cash and bank balances, are measured at transaction price including transaction costs.

Financial assets are derecognised when the contractual rights to cash flows from the asset expire or are settled or when the company transfers the risks and rewards of ownership to another entity.

Basic financial liabilities

Basic financial liabilities, which include trade and other creditors and bank loans, are initially recognised at transaction price.

Financial liabilities are derecognised when the company's contractual obligations are discharged.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

WESTFIELD & CO HOLDINGS LTD (REGISTERED NUMBER: SC546479)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 October 2022 5,141 5,460 27,995 38,596
Additions - - 40,190 40,190
Disposals - - (27,995 ) (27,995 )
At 30 September 2023 5,141 5,460 40,190 50,791
DEPRECIATION
At 1 October 2022 4,487 3,752 19,830 28,069
Charge for year 285 1,365 9,793 11,443
Eliminated on disposal - - (20,413 ) (20,413 )
At 30 September 2023 4,772 5,117 9,210 19,099
NET BOOK VALUE
At 30 September 2023 369 343 30,980 31,692
At 30 September 2022 654 1,708 8,165 10,527

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 October 2022 27,995
Additions 40,190
Disposals (27,995 )
At 30 September 2023 40,190
DEPRECIATION
At 1 October 2022 19,830
Charge for year 9,793
Eliminated on disposal (20,413 )
At 30 September 2023 9,210
NET BOOK VALUE
At 30 September 2023 30,980
At 30 September 2022 8,165

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 139,504
Other debtors 20,446 60,890
Directors' current accounts 60,581 -
VAT - 16,443
81,027 216,837

WESTFIELD & CO HOLDINGS LTD (REGISTERED NUMBER: SC546479)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 30 September 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,572 4,519
Hire purchase contracts 6,307 4,740
Trade creditors 4,212 29,879
Tax 26,442 43,145
Social security and other taxes 16,082 21,387
Pension creditor 31 14
VAT 10,430 -
Other creditors - 6,113
73,076 109,797

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans - 1-2 years 4,519 4,519
Bank loans - 2-5 years 24,487 25,694
Hire purchase contracts 24,104 6,198
53,110 36,411

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 September 2023 and 30 September 2022:

2023 2022
£    £   
Mr S A Pirie
Balance outstanding at start of year - -
Amounts advanced 60,581 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 60,581 -

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mrs L H Gordon.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
WESTFIELD & CO HOLDINGS LTD (REGISTERED NUMBER: SC546479)

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Westfield & Co Holdings Ltd for the year ended 30 September 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Westfield & Co Holdings Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Westfield & Co Holdings Ltd and state those matters that we have agreed to state to the Board of Directors of Westfield & Co Holdings Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Westfield & Co Holdings Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Westfield & Co Holdings Ltd. You consider that Westfield & Co Holdings 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 financial statements of Westfield & Co Holdings 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 financial statements.






Acumen Accountants and Advisors Limited
Bankhead Drive
City South Office Park
Portlethen
Aberdeenshire
AB12 4XX


10 October 2024