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REGISTERED NUMBER: 00788851 (England and Wales)












Westbridge Motors (N'pton) Limited

Unaudited Financial Statements

for the Year Ended 29 February 2024






Westbridge Motors (N'pton) Limited (Registered number: 00788851)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Westbridge Motors (N'pton) Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: N W Brocklehurst
K J Brocklehurst
Mrs E L Brocklehurst
Mrs A Mackaness





SECRETARY: K J Brocklehurst





REGISTERED OFFICE: St James Road
Northampton
Northamptonshire
NN5 5HS





REGISTERED NUMBER: 00788851 (England and Wales)





ACCOUNTANTS: Kilby Fox
Chartered Accountants
4 Pavilion Court
600 Pavilion Drive
Northampton Business Park
Northampton
Northamptonshire
NN4 7SL

Westbridge Motors (N'pton) Limited (Registered number: 00788851)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 598,168 641,415
Investments 5 1 1
Investment property 6 5,104,000 5,104,000
5,702,169 5,745,416

CURRENT ASSETS
Stocks 6,296 2,025
Debtors 7 169,542 125,577
Cash at bank and in hand 35,401 73,772
211,239 201,374
CREDITORS
Amounts falling due within one year 8 322,824 253,908
NET CURRENT LIABILITIES (111,585 ) (52,534 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,590,584

5,692,882

CREDITORS
Amounts falling due after more than one
year

9

(323,126

)

(400,930

)

PROVISIONS FOR LIABILITIES (330,069 ) (263,141 )
NET ASSETS 4,937,389 5,028,811

CAPITAL AND RESERVES
Called up share capital 50,000 51,000
Share premium 11,809 11,809
Revaluation reserve 11 3,928,017 3,928,017
Other reserves 50,000 50,000
Retained earnings 897,563 987,985
SHAREHOLDERS' FUNDS 4,937,389 5,028,811

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

Westbridge Motors (N'pton) Limited (Registered number: 00788851)

Balance Sheet - continued
29 February 2024


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 28 November 2024 and were signed on its behalf by:




K J Brocklehurst - Director



N W Brocklehurst - Director


Westbridge Motors (N'pton) Limited (Registered number: 00788851)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Westbridge Motors (N'pton) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant & machinery etc - 20% on cost, 10% on cost and 2% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

The Investment Property was valued at £5,104,000 in October 2021 by Barber Wadlow and Hadland Surveyors. The valuation was prepared in accordance with the Royal Institute of Chartered Surveyors (RICS) Appraisal and Valuation Standards, the Insurance Companies (Valuation of Assets) Regulations 1981, the Financial Services Authority (FSA) "Listing Rules" ("Source Book") and "City Code on Takeovers and Mergers" ("Blue Book") and is on the basis of market value, the petrol forecourt element being valued on the basis of a fully equipped operational entity.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year 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.


Westbridge Motors (N'pton) Limited (Registered number: 00788851)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued
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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 5 ) .

4. TANGIBLE FIXED ASSETS
Freehold Property Plant and
property improvements machinery
£    £    £   
COST OR VALUATION
At 1 March 2023 230,018 256,760 411,949
Additions - - 14,623
At 29 February 2024 230,018 256,760 426,572
DEPRECIATION
At 1 March 2023 12,000 25,695 281,137
Charge for year 1,000 5,135 36,337
At 29 February 2024 13,000 30,830 317,474
NET BOOK VALUE
At 29 February 2024 217,018 225,930 109,098
At 28 February 2023 218,018 231,065 130,812

Westbridge Motors (N'pton) Limited (Registered number: 00788851)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

4. TANGIBLE FIXED ASSETS - continued

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
COST OR VALUATION
At 1 March 2023 44,871 77,784 1,021,382
Additions - - 14,623
At 29 February 2024 44,871 77,784 1,036,005
DEPRECIATION
At 1 March 2023 35,251 25,884 379,967
Charge for year 2,423 12,975 57,870
At 29 February 2024 37,674 38,859 437,837
NET BOOK VALUE
At 29 February 2024 7,197 38,925 598,168
At 28 February 2023 9,620 51,900 641,415

Cost or valuation at 29 February 2024 is represented by:

Freehold Property Plant and
property improvements machinery
£    £    £   
Valuation in 2007 1,242,826 - -
Valuation in 2008 2,545,041 - -
Valuation in 2009 (700,000 ) - -
Valuation in 2012 (3,904,956 ) - -
Cost 1,047,107 256,760 426,572
230,018 256,760 426,572

Fixtures
and Motor
fittings vehicles Totals
£    £    £   
Valuation in 2007 - - 1,242,826
Valuation in 2008 - - 2,545,041
Valuation in 2009 - - (700,000 )
Valuation in 2012 - - (3,904,956 )
Cost 44,871 77,784 1,853,094
44,871 77,784 1,036,005

Westbridge Motors (N'pton) Limited (Registered number: 00788851)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST OR VALUATION
At 1 March 2023
and 29 February 2024 1
NET BOOK VALUE
At 29 February 2024 1
At 28 February 2023 1

Cost or valuation at 29 February 2024 is represented by:

Shares in
group
undertakings
£   
Cost 1

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023
and 29 February 2024 5,104,000
NET BOOK VALUE
At 29 February 2024 5,104,000
At 28 February 2023 5,104,000

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2022 5,104,000

Investment property was valued on an open market basis on 19 October 2021 by Barbar Wadlow and Hadland Surveyors .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 14,953 12,855
Other debtors 2,054 -
Directors' loan accounts 124,841 86,143
Tax 24,738 24,738
Prepayments and accrued income 2,956 1,841
169,542 125,577

Westbridge Motors (N'pton) Limited (Registered number: 00788851)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 80,789 81,794
Hire purchase contracts 18,974 8,834
Trade creditors 17,179 17,035
Corporation tax 66,792 56,281
Social security and other taxes 6,919 7,391
VAT 35,510 34,760
Other creditors 14,543 10,945
Directors' loan accounts 1,811 -
Accruals and deferred income 80,307 36,868
322,824 253,908

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 80,789 81,794
Bank loans - 2-5 years 174,911 203,552
Bank loans more 5 yr by instal 24,600 70,164
Hire purchase contracts 42,826 45,420
323,126 400,930

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 24,600 70,164

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 361,089 437,304

The above bank overdrafts and loans are secured as follows:

A debenture creating a fixed and floating charge over the assets of the company.

Legal mortgage charges over the workshop area, development land, petrol filling station and "The Maltings" building at the Company's premises, St James Road, Northampton.

11. RESERVES
Revaluation
reserve
£   
At 1 March 2023
and 29 February 2024 3,928,017

Westbridge Motors (N'pton) Limited (Registered number: 00788851)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

12. OTHER FINANCIAL COMMITMENTS

Lease commitments contracted for but not provided for in the financial statements £1,044 (2023 : £1,740)

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 29 February 2024 and 28 February 2023:

2024 2023
£    £   
N W Brocklehurst
Balance outstanding at start of year 56,814 56,982
Amounts advanced 93,357 68,690
Amounts repaid (69,062 ) (68,858 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 81,109 56,814

K J Brocklehurst
Balance outstanding at start of year 19,120 19,414
Amounts advanced 31,900 23,431
Amounts repaid (24,196 ) (23,725 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 26,824 19,120

Mrs E L Brocklehurst
Balance outstanding at start of year 8,174 (5,423 )
Amounts advanced 53,546 57,409
Amounts repaid (43,812 ) (43,812 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 17,908 8,174

Mrs A Mackaness
Balance outstanding at start of year 2,036 (3,603 )
Amounts advanced 11,708 21,194
Amounts repaid (15,555 ) (15,555 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1,811 ) 2,036

The directors received total dividends of £127,354 (2023 : £127,354) from the company during the year ended 29 February 2024.

14. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr N W Brocklehurst.