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REGISTERED NUMBER: 12225403 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

FOR

Westfit Limited

Westfit Limited (Registered number: 12225403)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 July 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 8


Westfit Limited

COMPANY INFORMATION
for the year ended 31 July 2024







Director: Miss D Webster





Registered office: Abacus House
129 North Hill
Plymouth
Devon
PL4 8JY





Registered number: 12225403 (England and Wales)





Accountants: Websters
129 North Hill
Plymouth
Devon
PL4 8JY

Westfit Limited (Registered number: 12225403)

BALANCE SHEET
31 July 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 32,264 31,808
Investments 5 50 50
Investment property 6 750,000 750,000
782,314 781,858

Current assets
Debtors 7 86,597 191,178
Cash at bank 3,159 1,663
89,756 192,841
Creditors
Amounts falling due within one year 8 21,015 167,428
Net current assets 68,741 25,413
Total assets less current liabilities 851,055 807,271

Provisions for liabilities 10 30,500 30,500
Net assets 820,555 776,771

Capital and reserves
Called up share capital 11 1,000 1,000
Revaluation reserve 12 199,600 199,600
Retained earnings 619,955 576,171
Shareholders' funds 820,555 776,771

Westfit Limited (Registered number: 12225403)

BALANCE SHEET - continued
31 July 2024


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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 6 November 2024 and were signed by:





Miss D Webster - Director


Westfit Limited (Registered number: 12225403)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 July 2024

1. STATUTORY INFORMATION

Westfit Limited is a private company, limited by shares, registered in England and Wales. The company's registered number, business address 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.

Preparation of consolidated financial statements
The financial statements contain information about Westfit Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover
Turnover represents amounts invoiced ( net of applicable vat) for leasing of equipment, rent of premises and related service charges, adjusted for amounts invoiced in advance or in arrears as at the balance sheet date.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Fixtures and fittings - 10% on reducing balance
Computers - 50% on reducing balance

Investments in subsidiaries and associates
Investments in subsidiary and associate 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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit & Loss Account, 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.


Westfit Limited (Registered number: 12225403)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 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.

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.

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.

Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

Westfit Limited (Registered number: 12225403)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
Cost
At 1 August 2023 50,358
Additions 4,206
At 31 July 2024 54,564
Depreciation
At 1 August 2023 18,550
Charge for year 3,750
At 31 July 2024 22,300
Net book value
At 31 July 2024 32,264
At 31 July 2023 31,808

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
Cost
At 1 August 2023
and 31 July 2024 50
Net book value
At 31 July 2024 50
At 31 July 2023 50

The shares relating to group companies are:



Company Shares held Activity

Westcare Ltd 100% Trading



Westfit Limited (Registered number: 12225403)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2024

6. INVESTMENT PROPERTY
Total
£   
Fair value
At 1 August 2023
and 31 July 2024 750,000
Net book value
At 31 July 2024 750,000
At 31 July 2023 750,000

Fair value at 31 July 2024 is represented by:
£   
Valuation in 2023 225,000
Cost 525,000
750,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 86,542 191,042
VAT 55 136
86,597 191,178

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 77,498
Corporation tax 12,450 16,200
Other creditors 5,643 71,570
Director's loan account 2,922 2,160
21,015 167,428

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans - 77,498

Westfit Limited (Registered number: 12225403)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2024

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 30,500 30,500

Deferred
tax
£   
Balance at 1 August 2023 30,500
Balance at 31 July 2024 30,500

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1,000 Ordinary £1 1,000 1,000

12. RESERVES
Revaluation
reserve
£   
At 1 August 2023
and 31 July 2024 199,600

13. RELATED PARTY DISCLOSURES

At the balance sheet date the company owed £2,922 to Miss D P Webster a director of the company.

During the year, the company received the following amounts from its 100% subsidiary, Westcare Limited


Rent and service charges £ 63,250
Hire of equipment £ 5,000

14. ULTIMATE CONTROLLING PARTY

The controlling party is Miss D Webster.