2023-02-012024-01-312024-01-31false09960888WEST AND REID 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WEST AND REID LTD

Registered Number
09960888
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2024

WEST AND REID LTD
Company Information
for the year from 1 February 2023 to 31 January 2024

Directors

JARVIS, Thomas Paul
WEIR, Malcolm

Registered Address

53a Brading Road
London
SW2 2AP

Registered Number

09960888 (England and Wales)
WEST AND REID LTD
Balance Sheet as at
31 January 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets34,0006,000
Tangible assets436,67049,269
40,67055,269
Current assets
Stocks9,50014,000
Debtors186,914107,528
Cash at bank and on hand60,82435,974
257,238157,502
Creditors amounts falling due within one year(244,041)(123,787)
Net current assets (liabilities)13,19733,715
Total assets less current liabilities53,86788,984
Creditors amounts falling due after one year(47,597)(83,779)
Net assets6,2705,205
Capital and reserves
Called up share capital22
Profit and loss account6,2685,203
Shareholders' funds6,2705,205
The financial statements were approved and authorised for issue by the Board of Directors on 14 October 2024, and are signed on its behalf by:
JARVIS, Thomas Paul
Director
Registered Company No. 09960888
WEST AND REID LTD
Notes to the Financial Statements
for the year ended 31 January 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Current taxation
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
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible Assets are stated at cost less amortisation.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year1111
3.Intangible assets

Total

£
Cost or valuation
At 01 February 2320,000
At 31 January 2420,000
Amortisation and impairment
At 01 February 2314,000
Charge for year2,000
At 31 January 2416,000
Net book value
At 31 January 244,000
At 31 January 236,000
4.Tangible fixed assets

Total

£
Cost or valuation
At 01 February 2391,512
Additions184
At 31 January 2491,696
Depreciation and impairment
At 01 February 2342,243
Charge for year12,783
At 31 January 2455,025
Net book value
At 31 January 2436,670
At 31 January 2349,269
5.Obligations under finance leases

2024

2023

££
Finance lease and HP contracts13,51824,607
6.Related party transactions
During the year, the company made interest-free advances to a director amounting to £400 (2023: £0). These were repayable on demand.