2023-02-012024-01-312024-01-31false13120687WESTMINSTER ROAD DEVELOPMENTS LIMITED2024-10-23iso4217:GBPxbrli:pure131206872023-02-01131206872024-01-31131206872023-02-012024-01-31131206872022-02-01131206872023-01-31131206872022-02-012023-01-3113120687bus:SmallEntities2023-02-012024-01-3113120687bus:AuditExempt-NoAccountantsReport2023-02-012024-01-3113120687bus:FullAccounts2023-02-012024-01-3113120687bus:PrivateLimitedCompanyLtd2023-02-012024-01-3113120687core:WithinOneYear2024-01-3113120687core:AfterOneYear2024-01-3113120687core:WithinOneYear2023-01-3113120687core:AfterOneYear2023-01-3113120687core:ShareCapital2024-01-3113120687core:SharePremium2024-01-3113120687core:RevaluationReserve2024-01-3113120687core:OtherReservesSubtotal2024-01-3113120687core:RetainedEarningsAccumulatedLosses2024-01-3113120687core:ShareCapital2023-01-3113120687core:SharePremium2023-01-3113120687core:RevaluationReserve2023-01-3113120687core:OtherReservesSubtotal2023-01-3113120687core:RetainedEarningsAccumulatedLosses2023-01-3113120687core:LandBuildings2024-01-3113120687core:PlantMachinery2024-01-3113120687core:Vehicles2024-01-3113120687core:FurnitureFittings2024-01-3113120687core:OfficeEquipment2024-01-3113120687core:NetGoodwill2024-01-3113120687core:IntangibleAssetsOtherThanGoodwill2024-01-3113120687core:ListedExchangeTraded2024-01-3113120687core:UnlistedNon-exchangeTraded2024-01-3113120687core:LandBuildings2023-01-3113120687core:PlantMachinery2023-01-3113120687core:Vehicles2023-01-3113120687core:FurnitureFittings2023-01-3113120687core:OfficeEquipment2023-01-3113120687core:NetGoodwill2023-01-3113120687core:IntangibleAssetsOtherThanGoodwill2023-01-3113120687core:ListedExchangeTraded2023-01-3113120687core:UnlistedNon-exchangeTraded2023-01-3113120687core:LandBuildings2023-02-012024-01-3113120687core:PlantMachinery2023-02-012024-01-3113120687core:Vehicles2023-02-012024-01-3113120687core:FurnitureFittings2023-02-012024-01-3113120687core:OfficeEquipment2023-02-012024-01-3113120687core:NetGoodwill2023-02-012024-01-3113120687core:IntangibleAssetsOtherThanGoodwill2023-02-012024-01-3113120687core:ListedExchangeTraded2023-02-012024-01-3113120687core:UnlistedNon-exchangeTraded2023-02-012024-01-3113120687core:MoreThanFiveYears2023-02-012024-01-3113120687core:Non-currentFinancialInstruments2024-01-3113120687core:Non-currentFinancialInstruments2023-01-3113120687dpl:CostSales2023-02-012024-01-3113120687dpl:DistributionCosts2023-02-012024-01-3113120687core:LandBuildings2023-02-012024-01-3113120687core:PlantMachinery2023-02-012024-01-3113120687core:Vehicles2023-02-012024-01-3113120687core:FurnitureFittings2023-02-012024-01-3113120687core:OfficeEquipment2023-02-012024-01-3113120687dpl:AdministrativeExpenses2023-02-012024-01-3113120687core:NetGoodwill2023-02-012024-01-3113120687core:IntangibleAssetsOtherThanGoodwill2023-02-012024-01-3113120687dpl:GroupUndertakings2023-02-012024-01-3113120687dpl:ParticipatingInterests2023-02-012024-01-3113120687dpl:GroupUndertakingscore:ListedExchangeTraded2023-02-012024-01-3113120687core:ListedExchangeTraded2023-02-012024-01-3113120687dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2023-02-012024-01-3113120687core:UnlistedNon-exchangeTraded2023-02-012024-01-3113120687dpl:CostSales2022-02-012023-01-3113120687dpl:DistributionCosts2022-02-012023-01-3113120687core:LandBuildings2022-02-012023-01-3113120687core:PlantMachinery2022-02-012023-01-3113120687core:Vehicles2022-02-012023-01-3113120687core:FurnitureFittings2022-02-012023-01-3113120687core:OfficeEquipment2022-02-012023-01-3113120687dpl:AdministrativeExpenses2022-02-012023-01-3113120687core:NetGoodwill2022-02-012023-01-3113120687core:IntangibleAssetsOtherThanGoodwill2022-02-012023-01-3113120687dpl:GroupUndertakings2022-02-012023-01-3113120687dpl:ParticipatingInterests2022-02-012023-01-3113120687dpl:GroupUndertakingscore:ListedExchangeTraded2022-02-012023-01-3113120687core:ListedExchangeTraded2022-02-012023-01-3113120687dpl:GroupUndertakingscore:UnlistedNon-exchangeTraded2022-02-012023-01-3113120687core:UnlistedNon-exchangeTraded2022-02-012023-01-3113120687core:NetGoodwill2024-01-3113120687core:IntangibleAssetsOtherThanGoodwill2024-01-3113120687core:LandBuildings2024-01-3113120687core:PlantMachinery2024-01-3113120687core:Vehicles2024-01-3113120687core:FurnitureFittings2024-01-3113120687core:OfficeEquipment2024-01-3113120687core:AfterOneYear2024-01-3113120687core:WithinOneYear2024-01-3113120687core:ListedExchangeTraded2024-01-3113120687core:UnlistedNon-exchangeTraded2024-01-3113120687core:ShareCapital2024-01-3113120687core:SharePremium2024-01-3113120687core:RevaluationReserve2024-01-3113120687core:OtherReservesSubtotal2024-01-3113120687core:RetainedEarningsAccumulatedLosses2024-01-3113120687core:NetGoodwill2023-01-3113120687core:IntangibleAssetsOtherThanGoodwill2023-01-3113120687core:LandBuildings2023-01-3113120687core:PlantMachinery2023-01-3113120687core:Vehicles2023-01-3113120687core:FurnitureFittings2023-01-3113120687core:OfficeEquipment2023-01-3113120687core:AfterOneYear2023-01-3113120687core:WithinOneYear2023-01-3113120687core:ListedExchangeTraded2023-01-3113120687core:UnlistedNon-exchangeTraded2023-01-3113120687core:ShareCapital2023-01-3113120687core:SharePremium2023-01-3113120687core:RevaluationReserve2023-01-3113120687core:OtherReservesSubtotal2023-01-3113120687core:RetainedEarningsAccumulatedLosses2023-01-3113120687core:NetGoodwill2022-02-0113120687core:IntangibleAssetsOtherThanGoodwill2022-02-0113120687core:LandBuildings2022-02-0113120687core:PlantMachinery2022-02-0113120687core:Vehicles2022-02-0113120687core:FurnitureFittings2022-02-0113120687core:OfficeEquipment2022-02-0113120687core:AfterOneYear2022-02-0113120687core:WithinOneYear2022-02-0113120687core:ListedExchangeTraded2022-02-0113120687core:UnlistedNon-exchangeTraded2022-02-0113120687core:ShareCapital2022-02-0113120687core:SharePremium2022-02-0113120687core:RevaluationReserve2022-02-0113120687core:OtherReservesSubtotal2022-02-0113120687core:RetainedEarningsAccumulatedLosses2022-02-0113120687core:AfterOneYear2023-02-012024-01-3113120687core:WithinOneYear2023-02-012024-01-3113120687core:Non-currentFinancialInstrumentscore:CostValuation2023-02-012024-01-3113120687core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-02-012024-01-3113120687core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-02-012024-01-3113120687core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-02-012024-01-3113120687core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-02-012024-01-3113120687core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-02-012024-01-3113120687core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-02-012024-01-3113120687core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-02-012024-01-3113120687core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-02-012024-01-3113120687core:Non-currentFinancialInstrumentscore:CostValuation2024-01-3113120687core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2024-01-3113120687core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2024-01-3113120687core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2024-01-3113120687core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2024-01-3113120687core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2024-01-3113120687core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2024-01-3113120687core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2024-01-3113120687core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2024-01-3113120687core:Non-currentFinancialInstrumentscore:CostValuation2023-01-3113120687core:Non-currentFinancialInstrumentscore:AdditionsToInvestments2023-01-3113120687core:Non-currentFinancialInstrumentscore:RevaluationsIncreaseDecreaseInInvestments2023-01-3113120687core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInInvestments2023-01-3113120687core:Non-currentFinancialInstrumentscore:ProvidedReleasedInPeriodProvisionsForImpairmentInvestments2023-01-3113120687core:Non-currentFinancialInstrumentscore:ImpairmentLossReversalProvisionsForImpairmentInvestments2023-01-3113120687core:Non-currentFinancialInstrumentscore:AcquisitionsIncreaseInProvisionsForImpairmentInvestments2023-01-3113120687core:Non-currentFinancialInstrumentscore:DisposalsDecreaseInProvisionsForImpairmentInvestments2023-01-3113120687core:Non-currentFinancialInstrumentscore:OtherIncreaseDecreaseInProvisionsForImpairmentInvestments2023-01-3113120687bus:Director12023-02-012024-01-31

WESTMINSTER ROAD DEVELOPMENTS LIMITED

Registered Number
13120687
(England and Wales)

Unaudited Financial Statements for the Year ended
31 January 2024

WESTMINSTER ROAD DEVELOPMENTS LIMITED
Company Information
for the year from 1 February 2023 to 31 January 2024

Director

WALFORD, Daniel James

Registered Address

199 Monton Road
Eccles
Manchester
M30 9PN

Registered Number

13120687 (England and Wales)
WESTMINSTER ROAD DEVELOPMENTS LIMITED
Balance Sheet as at
31 January 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Investment property43,700,0003,600,000
3,700,0003,600,000
Current assets
Debtors7,882-
Cash at bank and on hand64980
8,53180
Creditors amounts falling due within one year5(602,928)(1,015,157)
Net current assets (liabilities)(594,397)(1,015,077)
Total assets less current liabilities3,105,6032,584,923
Creditors amounts falling due after one year6(2,417,730)(1,909,580)
Provisions for liabilities7(131,946)-
Net assets555,927675,343
Capital and reserves
Called up share capital11
Profit and loss account555,926675,342
Shareholders' funds8555,927675,343
The financial statements were approved and authorised for issue by the Director on 23 October 2024, and are signed on its behalf by:
WALFORD, Daniel James
Director
Registered Company No. 13120687
WESTMINSTER ROAD DEVELOPMENTS LIMITED
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 accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
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).
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.
Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The critical judgements made by management that have a significant effect on the amounts recognised in the financial statements are described below.
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 rendering of services
Revenue 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.
Finance costs
Finance costs charged to the profit or loss include interest expense calculated using the effective interest method from FRS 102:11, finance charges on finance leases, and exchange differences on foreign currency borrowings where these are treated as an adjustment to interest costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Current taxation
Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.
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.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:
Investment property
The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis.
Trade and other debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately. For the purpose of the cash flow statement, bank overdrafts form an integral part of the company's cash management and are included as a component of cash and cash equivalents.
Trade and other 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.
Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
Related parties
For the purposes of these financial statements, a related party could be a person or an entity. Careful consideration is given to the definition of a related party to ensure that all related party relationships, transactions and balances are identified.
2.Average number of employees

20242023
Average number of employees during the year00
3.Deferred tax
Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.
4.Investment property

£
Fair value at 01 February 233,600,000
Fair value adjustments100,000
At 31 January 243,700,000
5.Creditors: amounts due within one year

2024

2023

££
Amounts owed to related parties544,758809,757
Taxation and social security42-
Other creditors57,120205,000
Accrued liabilities and deferred income1,008400
Total602,9281,015,157
6.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts2,417,7301,909,580
Total2,417,7301,909,580
Hampshire Trust Bank PLC holds a fixed and floating charge which covers all the property or undertaking of the company.
7.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)131,946-
Total131,946-
8.Fair value reserve