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WESTFIELD BOULDERING PROJECT LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






WESTFIELD BOULDERING PROJECT LTD (REGISTERED NUMBER: 13251418)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WESTFIELD BOULDERING PROJECT LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: R M Lawrence
S Semenov





REGISTERED OFFICE: Aldgate House
33, Aldgate High Street
London
EC3N 1AH





REGISTERED NUMBER: 13251418 (England and Wales)





ACCOUNTANTS: Bowen Accountants Ltd
Chartered Accountants
Unit 1 Gate Farm
High Street
Sutton Benger
Chippenham
Wiltshire
SN15 4RE

WESTFIELD BOULDERING PROJECT LTD (REGISTERED NUMBER: 13251418)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1,668 1,738
Tangible assets 5 770,072 824,689
771,740 826,427

CURRENT ASSETS
Stocks 6 11,079 14,166
Debtors 7 95,937 110,268
Prepayments and accrued income 27,713 36,870
Cash at bank and in hand 17,128 10,708
151,857 172,012
CREDITORS
Amounts falling due within one year 8 382,200 290,015
NET CURRENT LIABILITIES (230,343 ) (118,003 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

541,397

708,424

ACCRUALS AND DEFERRED INCOME 5,436 2,897
NET ASSETS 535,961 705,527

CAPITAL AND RESERVES
Called up share capital 9 10 10
Share premium 1,084,990 1,084,990
Retained earnings (549,039 ) (379,473 )
SHAREHOLDERS' FUNDS 535,961 705,527

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

WESTFIELD BOULDERING PROJECT LTD (REGISTERED NUMBER: 13251418)

BALANCE SHEET - continued
31 MARCH 2024


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 4 September 2024 and were signed on its behalf by:





R M Lawrence - Director


WESTFIELD BOULDERING PROJECT LTD (REGISTERED NUMBER: 13251418)

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

1. STATUTORY INFORMATION

Westfield Bouldering Project Ltd 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Website is being amortised evenly over its estimated useful life of ten years.

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

Hire purchase and leasing commitments
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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:

Leasehold improvements - over the term of the lease
Plant & Machinery (excluding climbing wall and holds) - 15% reducing balance
Climbing Holds - straight line over 6 years
Climbing Wall - straight line over 25 years
Office equipment - 15% reducing balance basis
Computer equipment - 25% reducing balance basis

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 10 ) .

WESTFIELD BOULDERING PROJECT LTD (REGISTERED NUMBER: 13251418)

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

4. INTANGIBLE FIXED ASSETS
Website
£   
COST
At 1 April 2023
and 31 March 2024 1,750
AMORTISATION
At 1 April 2023 12
Amortisation for year 70
At 31 March 2024 82
NET BOOK VALUE
At 31 March 2024 1,668
At 31 March 2023 1,738

5. TANGIBLE FIXED ASSETS
Short Leasehold Plant and
leasehold improvements machinery
£    £    £   
COST
At 1 April 2023 25,731 546,562 292,515
Additions 1,481 - 1,400
Disposals - - (1,159 )
Reclassification/transfer - 743 -
At 31 March 2024 27,212 547,305 292,756
DEPRECIATION
At 1 April 2023 2,283 37,193 16,671
Charge for year 1,813 36,408 17,079
Eliminated on disposal - - (36 )
Reclassification/transfer - 38 -
At 31 March 2024 4,096 73,639 33,714
NET BOOK VALUE
At 31 March 2024 23,116 473,666 259,042
At 31 March 2023 23,448 509,369 275,844

WESTFIELD BOULDERING PROJECT LTD (REGISTERED NUMBER: 13251418)

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

5. TANGIBLE FIXED ASSETS - continued

Office Computer
equipment equipment Totals
£    £    £   
COST
At 1 April 2023 12,496 6,963 884,267
Additions 1,201 1,226 5,308
Disposals - - (1,159 )
Reclassification/transfer (743 ) - -
At 31 March 2024 12,954 8,189 888,416
DEPRECIATION
At 1 April 2023 1,900 1,531 59,578
Charge for year 1,743 1,759 58,802
Eliminated on disposal - - (36 )
Reclassification/transfer (38 ) - -
At 31 March 2024 3,605 3,290 118,344
NET BOOK VALUE
At 31 March 2024 9,349 4,899 770,072
At 31 March 2023 10,596 5,432 824,689

6. STOCKS
2024 2023
£    £   
Stocks 11,079 14,166

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 9,781 1,657
Other debtors 86,156 108,611
95,937 110,268

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 34,836 149,026
Taxation and social security 25,539 2,770
Other creditors 321,825 138,219
382,200 290,015

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100,000 Ordinary 0.000 1 10 10

WESTFIELD BOULDERING PROJECT LTD (REGISTERED NUMBER: 13251418)

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

10. OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £2,213,550. This relates to the lease of the premises.