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Registered number: 05573224
Westwood (Derby) Ltd
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: 05573224
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 25,000 25,000
Tangible Assets 5 14,776 28,189
39,776 53,189
CURRENT ASSETS
Debtors 50,678 8,840
Cash at bank and in hand 127,141 170,480
177,819 179,320
Creditors: Amounts Falling Due Within One Year (110,441 ) (92,789 )
NET CURRENT ASSETS (LIABILITIES) 67,378 86,531
TOTAL ASSETS LESS CURRENT LIABILITIES 107,154 139,720
NET ASSETS 107,154 139,720
CAPITAL AND RESERVES
Called up share capital 6 6 6
Profit and Loss Account 107,148 139,714
SHAREHOLDERS' FUNDS 107,154 139,720
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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.
All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 31 March 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
S S Johal
Director
19/11/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Westwood (Derby) Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 05573224 . The registered office is 12 Darley Abbey Mills, Darley Abbey, Derby, DE22 1DZ.
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 from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from 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. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 15 years.
2.4. 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:
Leasehold 25% on reducing balance
Plant & Machinery 25% on reducing balance
Motor Vehicles 25% on reducing balance
Fixtures & Fittings 25% on reducing balance
Computer Equipment 25% on reducing balance
2.5. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 26 (2023: 22)
26 22
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Page 4
4. Intangible Assets
Total
£
Cost
As at 1 April 2023 125,000
As at 31 March 2024 125,000
Amortisation
As at 1 April 2023 100,000
As at 31 March 2024 100,000
Net Book Value
As at 31 March 2024 25,000
As at 1 April 2023 25,000
5. Tangible Assets
Total
£
Cost
As at 1 April 2023 324,384
Disposals (242,485 )
As at 31 March 2024 81,899
Depreciation
As at 1 April 2023 296,195
Provided during the period 4,924
Disposals (233,996 )
As at 31 March 2024 67,123
Net Book Value
As at 31 March 2024 14,776
As at 1 April 2023 28,189
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 6 6
Page 4