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REGISTERED NUMBER: 14493668 (England and Wales)















Group Strategic Report, Report of the Director and

Consolidated Financial Statements

for the Period 18 November 2022 to 30 January 2024

for

Weststone Group Limited

Weststone Group Limited (Registered number: 14493668)






Contents of the Consolidated Financial Statements
for the Period 18 November 2022 to 30 January 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Director 4

Report of the Independent Auditors 6

Consolidated Income Statement 9

Consolidated Balance Sheet 10

Company Balance Sheet 11

Consolidated Statement of Changes in Equity 12

Company Statement of Changes in Equity 13

Consolidated Cash Flow Statement 14

Notes to the Consolidated Cash Flow Statement 15

Notes to the Consolidated Financial Statements 16


Weststone Group Limited

Company Information
for the Period 18 November 2022 to 30 January 2024







DIRECTOR: M Haris





REGISTERED OFFICE: Cop UK
Delph New Road
Dobcross
Oldham
OL3 5BG





REGISTERED NUMBER: 14493668 (England and Wales)





AUDITORS: KJA Kilner Johnson Ltd (Statutory Auditors)
Network House
Stubs Beck Lane
Cleckheaton
BD19 4TT

Weststone Group Limited (Registered number: 14493668)

Group Strategic Report
for the Period 18 November 2022 to 30 January 2024

The director presents his strategic report of the company and the group for the period 18 November 2022 to 30 January 2024.

REVIEW OF BUSINESS
The results, as set out on page 8, show a significant profit on ordinary activities before tax of £1,370,736, which includes £63,696 attributable to discontinued operations.

The group purchased One Stop CCTV Limited on 5 April 2023 , following its acquisition of of Weststone Limited on 15 August 2022. The Group disposed of One Stop CCTV Limited to a third party on 15 August 2023 to focus on its core trade of Wholesale and Distribution to the customer channel rather than remaining a sub-distributor.

The group's statement of financial position, detailed on page 10, remains robust.

Despite challenging economic conditions characterised by high inflation, interest rates, and fuel costs, contributing to the current 'Cost of Living Crisis,' the group achieved strong revenue and gross margin growth for the period. This success is attributable to enhanced sales and marketing efforts, our ability to meet customer requirements, exceptional customer service, and award-winning technical support.

PRINCIPAL RISKS AND UNCERTAINTIES
Shipping issues caused by the Red Sea/Suez crisis led to stock arrival delays in the UK. This challenge was mitigated through increased ordering and sourcing products from alternative suppliers. Fortunately, this issue has eased in the current year.

Inflation and interest costs may have a negative impact on the customer base, leading to bad debts, and the group mitigates this risk by maintaining a credit insurance policy.

BUSINESS ENVIRONMENT
Since the period end, the group has increased its turnover and continued to develop sales with new customers as well as developing new and complementary product lines.

STRATEGY
The group's strategy for 2024 and beyond focuses on delivering profitable and sustainable growth through new customers and existing and new product lines. This will be achieved by continuous investment in key personnel and improved systems, particularly our online trading presence, ensuring the constant enhancement and development of the resources at our disposal

KEY PERFORMANCE INDICATORS
The company monitors progress using the following KPIs:


Continuing
Operations
Discontinuing
Operations

Total
Turnover £16,157,208 £460,108 £16,617,316
Gross profit percentage 20.63% 23.86% 20.73%
Operating profit percentage 8.06% 14.93% 8.25%

In addition to financial KPIs, the company also values non-financial indicators such as online ordering, social media interaction and customer reviews.


Weststone Group Limited (Registered number: 14493668)

Group Strategic Report
for the Period 18 November 2022 to 30 January 2024

FUTURE DEVELOPMENTS
The group is actively pursuing complementary acquisitions and organic growth through new business divisions.

ON BEHALF OF THE BOARD:




M Haris - Director


3 January 2025

Weststone Group Limited (Registered number: 14493668)

Report of the Director
for the Period 18 November 2022 to 30 January 2024

The director presents his report with the financial statements of the company and the group for the period 18 November 2022 to 30 January 2024.

INCORPORATION
The group was incorporated on 18 November 2022 .

PRINCIPAL ACTIVITY
The principal activity of the group for the period under review was that of a wholesale distributor of security equipment.

DIVIDENDS
No dividends will be distributed for the period ended 30 January 2024.

DIRECTOR
M Haris was appointed as a director on 18 November 2022 and held office during the whole of the period from then to the date of this report.

The director, being eligible, offers himself for election at the forthcoming first Annual General Meeting.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Group Strategic Report, the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the director is required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the director is aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and he has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

Weststone Group Limited (Registered number: 14493668)

Report of the Director
for the Period 18 November 2022 to 30 January 2024


AUDITORS
The auditors, KJA Kilner Johnson Ltd (Statutory Auditors), will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





M Haris - Director


3 January 2025

Report of the Independent Auditors to the Members of
Weststone Group Limited

Opinion
We have audited the financial statements of Weststone Group Limited (the 'parent company') and its subsidiaries (the 'group') for the period ended 30 January 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 30 January 2024 and of the group's profit for the period then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.

Other information
The director is responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Director, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Director for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Director have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Weststone Group Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Director.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of director's remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of director
As explained more fully in the Statement of Director's Responsibilities set out on page four, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the director is responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the group or the parent company or to cease operations, or has no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

While planning our audit, we have enquired of management and those charged with governance around any actual or potential litigation and claims against the company for non-compliance with specific laws and regulations. The same has been done in respect of any instances of fraud or irregularities. The responses received have been communicated with the engagement team at the planning stage.

We have not been informed of any specific laws or regulatory related issues that could materially impact the financial statements in addition to this, there has been no suspected fraud or irregularities reported to us.

While planning our audit the engagement partner selected appropriately trained staff to be engaged in the audit and the team are allocated based on their competence and capabilities.

The audit work undertaken is a substantive work based audit approach, reviewing to source documentation where appropriate and includes a review and walkthrough of the systems which management have put in place. These tests are directional. Therefore, they are designed in a way to maximise audit effectiveness and the possible identification of any material fraud, irregularities, or instances of systems and procedure breaches. Our testing did not identify any issues that require additional reporting.

These tests and other areas of our audit work are designed to enhance our ability to detect cases of material fraud and certain irregularities. It should be noted that our audit is carried out using a material based approach and therefore does not test every transaction, as such it would not detect all instances of irregularities and specifically fraud which is inherently more difficult to detect.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Weststone Group Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Raza Effendi (Senior Statutory Auditor)
for and on behalf of KJA Kilner Johnson Ltd (Statutory Auditors)
Network House
Stubs Beck Lane
Cleckheaton
BD19 4TT

3 January 2025

Weststone Group Limited (Registered number: 14493668)

Consolidated
Income Statement
for the Period 18 November 2022 to 30 January 2024

2024 2024 2024
Continuing Discontinued Total
Notes £    £    £   

TURNOVER 3 16,157,208 460,108 16,617,316
Cost of sales (12,822,732 ) (350,312 ) (13,173,044 )
GROSS PROFIT 3,334,476 109,796 3,444,272

Administrative expenses (1,930,937 ) (41,100 ) (1,972,037 )

OPERATING PROFIT 1,403,539 68,696 1,472,235

Interest payable and similar expenses 5 (101,499 ) - (101,499 )
PROFIT BEFORE TAXATION 6 1,302,040 68,696 1,370,736
Tax on profit 7 (206,315 ) - (206,315 )
PROFIT FOR THE FINANCIAL PERIOD 1,095,725 68,696 1,164,421
Profit attributable to:
Owners of the parent 1,164,42

Weststone Group Limited (Registered number: 14493668)

Consolidated Balance Sheet
30 January 2024

Notes £    £   
FIXED ASSETS
Intangible assets 9 1,488,661
Tangible assets 10 521,308
Investments 11 -
2,009,969

CURRENT ASSETS
Stocks 12 7,120,277
Debtors 13 4,311,479
Cash at bank and in hand 291,557
11,723,313
CREDITORS
Amounts falling due within one year 14 12,236,942
NET CURRENT LIABILITIES (513,629 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,496,340

CREDITORS
Amounts falling due after more than one
year

15

(202,951

)

PROVISIONS FOR LIABILITIES 19 (128,967 )
NET ASSETS 1,164,422

CAPITAL AND RESERVES
Called up share capital 20 1
Retained earnings 21 1,164,421
SHAREHOLDERS' FUNDS 1,164,422

The financial statements were approved by the director and authorised for issue on 3 January 2025 and were signed by:





M Haris - Director


Weststone Group Limited (Registered number: 14493668)

Company Balance Sheet
30 January 2024

Notes £    £   
FIXED ASSETS
Intangible assets 9 -
Tangible assets 10 -
Investments 11 7,260,001
7,260,001

CURRENT ASSETS
Cash at bank 795

CREDITORS
Amounts falling due within one year 14 3,265,068
NET CURRENT LIABILITIES (3,264,273 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,995,728

CAPITAL AND RESERVES
Called up share capital 20 1
Fair value reserve 2,610,000
Retained earnings 1,385,727
SHAREHOLDERS' FUNDS 3,995,728

Company's profit for the financial year 3,995,727

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 3 January 2025 and were signed by:





M Haris - Director


Weststone Group Limited (Registered number: 14493668)

Consolidated Statement of Changes in Equity
for the Period 18 November 2022 to 30 January 2024

Called up
share Retained Total
capital earnings equity
£    £    £   

Changes in equity
Issue of share capital 1 - 1
Total comprehensive income - 1,164,421 1,164,421
Balance at 30 January 2024 1 1,164,421 1,164,422

Weststone Group Limited (Registered number: 14493668)

Company Statement of Changes in Equity
for the Period 18 November 2022 to 30 January 2024

Called up Fair
share Retained value Total
capital earnings reserve equity
£    £    £    £   

Changes in equity
Issue of share capital 1 - - 1
Total comprehensive income - 1,385,727 2,610,000 3,995,727
Balance at 30 January 2024 1 1,385,727 2,610,000 3,995,728

Weststone Group Limited (Registered number: 14493668)

Consolidated Cash Flow Statement
for the Period 18 November 2022 to 30 January 2024

Notes £   
Cash flows from operating activities
Cash generated from operations 1 (4,432,424 )
Interest paid (101,499 )
Net cash from operating activities (4,533,923 )

Cash flows from investing activities
Purchase of intangible fixed assets (8,261,206 )
Purchase of tangible fixed assets (586,256 )
Sale of intangible fixed assets 7,333,210
Net cash from investing activities (1,514,252 )

Cash flows from financing activities
New loans in year 3,422,499
Capital repayments in year (60,494 )
Amount introduced by directors 2,977,726
Share issue 1
Net cash from financing activities 6,339,732

Increase in cash and cash equivalents 291,557
Cash and cash equivalents at beginning of
period

2

-

Cash and cash equivalents at end of
period

2

291,557

Weststone Group Limited (Registered number: 14493668)

Notes to the Consolidated Cash Flow Statement
for the Period 18 November 2022 to 30 January 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

£   
Profit before taxation 1,370,736
Depreciation charges 449,039
Profit on disposal of fixed assets (944,756 )
Finance costs 101,499
976,518
Increase in stocks (7,120,277 )
Increase in trade and other debtors (4,311,479 )
Increase in trade and other creditors 6,022,814
Cash generated from operations (4,432,424 )

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Period ended 30 January 2024
30.1.24 18.11.22
£    £   
Cash and cash equivalents 291,557 -


3. ANALYSIS OF CHANGES IN NET DEBT

At 18.11.22 Cash flow At 30.1.24
£    £    £   
Net cash
Cash at bank and in hand - 291,557 291,557
- 291,557 291,557
Debt
Finance leases - (97,776 ) (97,776 )
Debts falling due within 1 year - (84,533 ) (84,533 )
Debts falling due after 1 year - (133,889 ) (133,889 )
- (316,198 ) (316,198 )
Total - (24,641 ) (24,641 )

Weststone Group Limited (Registered number: 14493668)

Notes to the Consolidated Financial Statements
for the Period 18 November 2022 to 30 January 2024

1. STATUTORY INFORMATION

Weststone Group 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 General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Basis of consolidation
The group financial statements consolidate the financial statements of the company and its subsidiary undertakings drawn updo 30 January each year. The results of subsidiaries acquired or sold are consolidated for the period from or to the date which control is passed.

Business combinations are accounted for under the purchase method. All intra-group transactions, balances income and expenses are eliminated on consolidation.

Significant judgements and estimates
In the application of the company's accounting policies, which are described in note 2, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Long leasehold - 15% straight line
Plant and machinery - 15% straight line
Motor vehicles - 20% straight line and 10% straight line
Computer equipment - 25% straight line

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


Weststone Group Limited (Registered number: 14493668)

Notes to the Consolidated Financial Statements - continued
for the Period 18 November 2022 to 30 January 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the period comprises current and deferred tax. Tax is recognised in the Consolidated 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 period 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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

Weststone Group Limited (Registered number: 14493668)

Notes to the Consolidated Financial Statements - continued
for the Period 18 November 2022 to 30 January 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances,are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets classified as receivable within on year are not amortised.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated related party.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of the business from suppliers. Trade creditors are recognised initially at transaction price.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

Employee benefits
The cost of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Cash & cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks.

Weststone Group Limited (Registered number: 14493668)

Notes to the Consolidated Financial Statements - continued
for the Period 18 November 2022 to 30 January 2024

3. TURNOVER

The turnover and profit before taxation are attributable to the one principal activity of the group.

An analysis of turnover by class of business is given below:

£   
Sale of goods 16,617,316
16,617,316

4. EMPLOYEES AND DIRECTORS
£   
Wages and salaries 1,501,155
Social security costs 148,181
Other pension costs 40,997
1,690,333

The average number of employees during the period was as follows:

Average group employees 45

£   
Director's remuneration 7,500

5. INTEREST PAYABLE AND SIMILAR EXPENSES
£   
Bank interest 79,830
Bank loan interest 14,162
Hire purchase interest 7,507
101,499

6. PROFIT BEFORE TAXATION

The profit is stated after charging/(crediting):

£   
Hire of plant and machinery 3,774
Other operating leases 134,751
Depreciation - owned assets 64,948
Profit on disposal of fixed assets (944,756 )
Goodwill amortisation 384,091
Auditors' remuneration 8,750
Foreign exchange differences 7,715

Weststone Group Limited (Registered number: 14493668)

Notes to the Consolidated Financial Statements - continued
for the Period 18 November 2022 to 30 January 2024

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the period was as follows:
£   
Current tax:
UK corporation tax 143,962

Deferred tax 62,353
Tax on profit 206,315

Reconciliation of total tax charge included in profit and loss
The tax assessed for the period is lower than the standard rate of corporation tax in the UK. The difference is explained below:

£   
Profit before tax 1,370,736
Profit multiplied by the standard rate of corporation tax in the UK of 24 % 328,977

Effects of:
Expenses not deductible for tax purposes 3,264
Difference in tax rate 2,311
Pre acquisition Deferred tax provision (66,614 )
Other non taxable items (61,623 )
Total tax charge 206,315

8. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


9. INTANGIBLE FIXED ASSETS

Group
Goodwill
£   
COST
Additions 8,261,206
Disposals (6,666,213 )
At 30 January 2024 1,594,993
AMORTISATION
Amortisation for period 384,091
Eliminated on disposal (277,759 )
At 30 January 2024 106,332
NET BOOK VALUE
At 30 January 2024 1,488,661

Weststone Group Limited (Registered number: 14493668)

Notes to the Consolidated Financial Statements - continued
for the Period 18 November 2022 to 30 January 2024

10. TANGIBLE FIXED ASSETS

Group
Long Plant and Motor Computer
leasehold machinery vehicles equipment Totals
£    £    £    £    £   
COST
Additions 203,421 21,784 181,101 179,950 586,256
At 30 January 2024 203,421 21,784 181,101 179,950 586,256
DEPRECIATION
Charge for period 18,103 3,573 21,194 22,078 64,948
At 30 January 2024 18,103 3,573 21,194 22,078 64,948
NET BOOK VALUE
At 30 January 2024 185,318 18,211 159,907 157,872 521,308

11. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertaking
£   
COST OR VALUATION
Additions 8,350,027
Disposals (7,570,000 )
Revaluations 6,479,974
At 30 January 2024 7,260,001
NET BOOK VALUE
At 30 January 2024 7,260,001

Cost or valuation at 30 January 2024 is represented by:

Shares in
group
undertaking
£   
Valuation in 2024 7,260,000
Cost 1
7,260,001

Weststone Group Limited (Registered number: 14493668)

Notes to the Consolidated Financial Statements - continued
for the Period 18 November 2022 to 30 January 2024

11. FIXED ASSET INVESTMENTS - continued

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiaries

Weststone Limited
Registered office: Delph New Road, Oldham, OL3 5BG
Nature of business: wholesale distributor of security equipment
%
Class of shares: holding
Ordinary 100.00

Weststone Limited was acquired on 5 April 2023.

Weststone Holdings Limited
Registered office: Delph New Road, Oldham, OL3 5BG
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00

Weststone Holdings Limited was acquired on incorporation on 22 November 2022.

One Stop CCTV Limited
Registered office: 900 Leeds Road, Bradford, BD3 8EZ
Nature of business: Wholesale of security equipment
%
Class of shares: holding
Ordinary 100.00

One Stop CCTV Limited was acquired on 5 April 2023. The company was sold to a third party on 15 August 2023.


12. STOCKS


Group
£   
Stocks 7,120,277

Included within stock is £2,759,253 of goods in transit at the balance sheet date, for which the company has the risks and rewards of ownership.

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


Group
£   
Trade debtors 3,749,691
Other debtors 291,778
Prepayments 270,010
4,311,479

Weststone Group Limited (Registered number: 14493668)

Notes to the Consolidated Financial Statements - continued
for the Period 18 November 2022 to 30 January 2024

14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR


Group Company
£    £   
Bank loans and overdrafts (see note 16) 84,533 -
Hire purchase contracts (see note 17) 28,714 -
Trade creditors 5,379,729 -
Amounts owed to group undertakings - 12,000
Tax 172,287 -
Social security and other taxes 48,792 -
VAT 498,531 -
Other creditors 2,962,760 312,800
Directors' loan accounts 2,977,726 2,940,268
Accruals and deferred income 83,870 -
12,236,942 3,265,068

15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR


Group
£   
Bank loans (see note 16) 133,889
Hire purchase contracts (see note 17) 69,062
202,951

16. LOANS

An analysis of the maturity of loans is given below:


Group
£   
Amounts falling due within one year or on demand:
Bank loans 84,533
Amounts falling due between one and two years:
Bank loans - 1-2 years 84,533
Amounts falling due between two and five years:
Bank loans - 2-5 years 49,356

Weststone Group Limited (Registered number: 14493668)

Notes to the Consolidated Financial Statements - continued
for the Period 18 November 2022 to 30 January 2024

17. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire
purchase
contracts
£   
Net obligations repayable:
Within one year 28,714
Between one and five years 69,062
97,776

18. SECURED DEBTS

The following secured debts are included within creditors:


Group
£   
Invoice discounting 2,638,067

The company has an invoice finance facility. The debt at the year end is secured with a charge over the Weststone Limited assets.

19. PROVISIONS FOR LIABILITIES


Group
£   
Deferred tax 128,967

Group
Deferred
tax
£   
Provided during period 62,353
Pre-acquisition provision 66,614
Balance at 30 January 2024 128,967

20. CALLED UP SHARE CAPITAL

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

Weststone Group Limited (Registered number: 14493668)

Notes to the Consolidated Financial Statements - continued
for the Period 18 November 2022 to 30 January 2024

21. RESERVES

Group
Retained
earnings
£   

Profit for the period 1,164,421
At 30 January 2024 1,164,421

Company
Fair
value
reserve
£   
Fair value movement 2,610,000

At 30 January 2024 2,610,000


22. ULTIMATE CONTROLLING PARTY

The controlling party is M Haris.