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Registered number: 05682924
Westwood Developments UK Ltd
Unaudited Financial Statements
For The Year Ended 31 January 2024
Yates & Co (Accountants) Limited
Chartered Certified Accountants
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05682924
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 1,338 2,285
1,338 2,285
CURRENT ASSETS
Debtors 5 111,534 103,566
111,534 103,566
Creditors: Amounts Falling Due Within One Year 6 (67,327 ) (55,106 )
NET CURRENT ASSETS (LIABILITIES) 44,207 48,460
TOTAL ASSETS LESS CURRENT LIABILITIES 45,545 50,745
Creditors: Amounts Falling Due After More Than One Year 7 (31,783 ) (37,651 )
NET ASSETS 13,762 13,094
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account 13,662 12,994
SHAREHOLDERS' FUNDS 13,762 13,094
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For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Paul Foley
Director
30/10/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Westwood Developments UK Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 05682924 . The registered office is 7 St Georges Yard, Castle Street, Farnham, Surrey, GU9 7NU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 form the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover form the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% on reducing balance
Motor Vehicles 25% on reducing balance
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
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3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 1 1
1 1
4. Tangible Assets
Plant & Machinery Motor Vehicles Total
£ £ £
Cost
As at 1 February 2023 20,583 15,099 35,682
As at 31 January 2024 20,583 15,099 35,682
Depreciation
As at 1 February 2023 19,590 13,807 33,397
Provided during the period 624 323 947
As at 31 January 2024 20,214 14,130 34,344
Net Book Value
As at 31 January 2024 369 969 1,338
As at 1 February 2023 993 1,292 2,285
5. Debtors
2024 2023
£ £
Due within one year
Trade debtors 27,634 49,375
Other debtors 83,900 54,191
111,534 103,566
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 29,455 29,687
Other creditors 35,466 22,268
Taxation and social security 2,406 3,151
67,327 55,106
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7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 31,783 37,651
8. Share Capital
2024 2023
Allotted, called up and fully paid £ £
99 Ordinary Shares of £ 1 each 99 99
1 Ordinary A shares of £ 1 each 1 1
100 100
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