Registered number
09555123
West R&R Limited
Filleted Accounts
31 January 2024
West R&R Limited
Registered number: 09555123
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,275,991 1,062,991
Current assets
Debtors 4 841 -
Cash at bank and in hand 26,252 17,784
27,093 17,784
Creditors: amounts falling due within one year 5 (880,115) (906,150)
Net current liabilities (853,022) (888,366)
Total assets less current liabilities 422,969 174,625
Provisions for liabilities (63,080) (22,610)
Net assets 359,889 152,015
Capital and reserves
Called up share capital 100 100
Revaluation reserve 6 268,920 96,390
Profit and loss account 90,869 55,525
Shareholders' funds 359,889 152,015
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs F Brown
Director
Approved by the board on 30 October 2024
West R&R Limited
Notes to the Accounts
for the year ended 31 January 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
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. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Land and buildings Carried at fair value
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. 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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings
£
Cost
At 1 February 2023 1,062,991
Surplus on revaluation 213,000
At 31 January 2024 1,275,991
Depreciation
At 31 January 2024 -
Net book value
At 31 January 2024 1,275,991
At 31 January 2023 1,062,991
Land and buildings consists of investment properties only, which are carried at fair value.
4 Debtors 2024 2023
£ £
Other debtors 841 -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Taxation and social security costs 9,228 6,118
Director's and other loan accounts 862,606 892,051
Other creditors 8,281 7,981
880,115 906,150
6 Revaluation reserve 2024 2023
£ £
At 1 February 2023 96,390 96,390
Gain on revaluation of land and buildings 213,000 -
Deferred taxation arising on the revaluation of land and buildings (40,470) -
At 31 January 2024 268,920 96,390
7 Other information
West R&R Limited is a private company limited by shares and incorporated in England. Its registered office is:
Cumberland House
24-28 Baxter Avenue
Southend on Sea
Essex
SS2 6HZ
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