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REGISTERED NUMBER: SC554395 (Scotland)














UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

WESTFIELD ENGINEERING & TECHNOLOGY
LTD

WESTFIELD ENGINEERING & TECHNOLOGY
LTD (REGISTERED NUMBER: SC554395)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Chartered Certified Accountants' Report 6

WESTFIELD ENGINEERING & TECHNOLOGY
LTD

COMPANY INFORMATION
for the Year Ended 31 January 2024







DIRECTORS: Mrs L N Buckland
Mr J P Buckland





REGISTERED OFFICE: 15 Strathburn Gardens
Inverurie
Aberdeenshire
AB51 4RY





REGISTERED NUMBER: SC554395 (Scotland)





ACCOUNTANTS: Acumen Accountants and Advisors Limited
Unit 1, Office 1 & 8
Blackhall Industrial Estate
Burghmuir Circle
Inverurie
Aberdeenshire
AB51 4FS

WESTFIELD ENGINEERING & TECHNOLOGY
LTD (REGISTERED NUMBER: SC554395)

BALANCE SHEET
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 1,486 2,389

CURRENT ASSETS
Debtors 6 1,829 651
Cash at bank 11,724 27,834
13,553 28,485
CREDITORS
Amounts falling due within one year 7 3,921 (2,817 )
NET CURRENT ASSETS 9,632 31,302
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,118

33,691

PROVISIONS FOR LIABILITIES - 454
NET ASSETS 11,118 33,237

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 11,018 33,137
SHAREHOLDERS' FUNDS 11,118 33,237

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

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

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 31 October 2024 and were signed on its behalf by:





Mr J P Buckland - Director


WESTFIELD ENGINEERING & TECHNOLOGY
LTD (REGISTERED NUMBER: SC554395)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Westfield Engineering & Technology 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.

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.

Turnover
Turnover is stated net of VAT and trade discounts. 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 balance 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.
Fixtures and fittings - 20% on cost
Computer equipment - 20% on cost

Taxation
Taxation for the year/period 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.

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.

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 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 1 (2023 - 1 ) .

WESTFIELD ENGINEERING & TECHNOLOGY
LTD (REGISTERED NUMBER: SC554395)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 February 2023
and 31 January 2024 1,138 3,379 4,517
DEPRECIATION
At 1 February 2023 228 1,900 2,128
Charge for year 227 676 903
At 31 January 2024 455 2,576 3,031
NET BOOK VALUE
At 31 January 2024 683 803 1,486
At 31 January 2023 910 1,479 2,389

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,829 1
Other debtors - 650
1,829 651

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 62
Taxation and social security 3,834 (4,275 )
Other creditors 87 1,396
3,921 (2,817 )

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 January 2024 and 31 January 2023:

2024 2023
£    £   
Mrs L N Buckland
Balance outstanding at start of year (262 ) -
Amounts advanced 500 (262 )
Amounts repaid (312 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (74 ) (262 )

Mr J P Buckland
Balance outstanding at start of year (134 ) -
Amounts advanced 584 (134 )
Amounts repaid (464 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (14 ) (134 )

WESTFIELD ENGINEERING & TECHNOLOGY
LTD (REGISTERED NUMBER: SC554395)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 January 2024

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

These amounts bear no interest and have no fixed repayment terms.

9. RELATED PARTY DISCLOSURES

Circulate Plus Limited is a company under common control of the directors.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties are both the directors Jonathan Buckland and Lisa Buckland, the shareholders of Westfield Engineering & Technology Ltd.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
WESTFIELD ENGINEERING & TECHNOLOGY
LTD (REGISTERED NUMBER: SC554395)

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 Engineering & Technology Ltd for the year ended 31 January 2024 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 Engineering & Technology 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 Engineering & Technology Ltd and state those matters that we have agreed to state to the Board of Directors of Westfield Engineering & Technology 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 Engineering & Technology 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 profit of Westfield Engineering & Technology Ltd. You consider that Westfield Engineering & Technology 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 Engineering & Technology 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
Unit 1, Office 1 & 8
Blackhall Industrial Estate
Burghmuir Circle
Inverurie
Aberdeenshire
AB51 4FS


31 October 2024