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REGISTERED NUMBER: 03161527 (England and Wales)















Strategic Report, Report of the Director and

Financial Statements for the Year Ended 31 January 2024

for

Weststone Limited

Weststone Limited (Registered number: 03161527)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Strategic Report 2

Report of the Director 3

Report of the Independent Auditors 4

Income Statement 7

Balance Sheet 8

Statement of Changes in Equity 9

Notes to the Financial Statements 10


Weststone Limited

Company Information
for the Year Ended 31 January 2024







DIRECTOR: M Haris





REGISTERED OFFICE: Delph New Road
Dobcross
Oldham
OL3 5BG





REGISTERED NUMBER: 03161527 (England and Wales)





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

Weststone Limited (Registered number: 03161527)

Strategic Report
for the Year Ended 31 January 2024

The director presents his strategic report for the year ended 31 January 2024.

REVIEW OF BUSINESS
The results of the company as set out on page 7 show a profit on ordinary activities before tax of £1,065,699 (2023 - £419,514). The Company's statement of financial position set out on page 8 remains strong.

High inflation, interest rates and fuel costs during the year have contributed to the current 'Cost of Living Crisis' creating difficult economic conditions. However, the company has still managed to increase revenue and gross margin in this environment due to increased sales and marketing resource, being able to deliver on our customers' requirements, excellent customer service and award-winning technical support.

PRINCIPAL RISKS AND UNCERTAINTIES
Towards the end of the year shipping issues caused by the Red Sea/ Suez crisis caused delays on stock arriving in the UK. This was mitigated by increased ordering and sourcing product from elsewhere. This issue has eased in the current year.

BUSINESS ENVIRONMENT
Since the year end the company has increased turnover and continued to develop sales into new and complementary product lines.

STRATEGY
The business strategy for 2024 and beyond see the company to continue to concentrate on delivering profitable and sustainable growth through existing and new product lines. Constant development of resource is achievable by investment in key personnel and improved systems.

KEY PERFORMANCE INDICATORS
The company monitors the progress by reference to the following KPI's

2024 2023
£ £
Turnover 19,388,650 11,018,204
Gross profit percentage 20.64% 20.38%
Operating profit percentage 5.50% 3.81%

The main non-financial KPI's are social media interaction and customer reviews.

FUTURE DEVELOPMENTS
The company is actively looking for complementary acquisitions along with organic growth through new business divisions.

ON BEHALF OF THE BOARD:





M Haris - Director


23 December 2024

Weststone Limited (Registered number: 03161527)

Report of the Director
for the Year Ended 31 January 2024

The director presents his report with the financial statements of the company for the year ended 31 January 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of a wholesale distributor of security equipment.

DIVIDENDS
The total distribution of dividends for the year ended 31 January 2024 will be £ 889,735 .

DIRECTOR
M Haris held office during the whole of the period from 1 February 2023 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the 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 of the profit or loss of the company 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 transactions and disclose with reasonable accuracy at any time the financial position of the company 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 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 company'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 company's auditors are aware of that information.

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


23 December 2024

Report of the Independent Auditors to the Members of
Weststone Limited

Opinion
We have audited the financial statements of Weststone Limited (the 'company') for the year ended 31 January 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and 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 company's affairs as at 31 January 2024 and of its profit for the year 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 company 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 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.

Emphasis of matter
The financial statements for the year ended 31 January 2023 were unaudited, for which having reviewed the results, we consider to be inappropriate and in breach of the Companies Act 2006. We have considered this matter fully and discussed with the director of the company. We have also undertaken sufficient work in order to verify that the balances at 31 January 2023 are not materially misstated. We are satisfied that, in spite of the company preparing unaudited accounts for 2023, a clean audit report is appropriate for the year ended 31 January 2024.

Other information
The director is responsible for the other information. The other information comprises the information in the 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 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 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 Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the 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, or returns adequate for our audit have not been received from branches not visited by us; or
- the 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 three, 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 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 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.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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 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

23 December 2024

Weststone Limited (Registered number: 03161527)

Income Statement
for the Year Ended 31 January 2024

2024 2023
Notes £    £    £    £   

TURNOVER 4 19,388,650 11,018,204

Cost of sales 15,387,279 8,772,854
GROSS PROFIT 4,001,371 2,245,350

Distribution costs 64,948 67,751
Administrative expenses 2,870,724 1,758,085
2,935,672 1,825,836
OPERATING PROFIT 6 1,065,699 419,514


Interest payable and similar expenses 7 122,086 44,674
PROFIT BEFORE TAXATION 943,613 374,840

Tax on profit 8 247,579 82,561
PROFIT FOR THE FINANCIAL YEAR 696,034 292,279

Weststone Limited (Registered number: 03161527)

Balance Sheet
31 January 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 10 521,309 223,256

CURRENT ASSETS
Stocks 11 7,120,277 4,160,384
Debtors 12 4,311,479 3,385,313
Cash at bank and in hand 289,198 216,462
11,720,954 7,762,159
CREDITORS
Amounts falling due within one year 13 8,970,308 4,528,558
NET CURRENT ASSETS 2,750,646 3,233,601
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,271,955

3,456,857

CREDITORS
Amounts falling due after more than one
year

14

(202,951

)

(268,977

)

PROVISIONS FOR LIABILITIES 18 (128,970 ) (54,145 )
NET ASSETS 2,940,034 3,133,735

CAPITAL AND RESERVES
Called up share capital 19 300 300
Retained earnings 20 2,939,734 3,133,435
SHAREHOLDERS' FUNDS 2,940,034 3,133,735

The financial statements were approved by the director and authorised for issue on 23 December 2024 and were signed by:





M Haris - Director


Weststone Limited (Registered number: 03161527)

Statement of Changes in Equity
for the Year Ended 31 January 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 February 2022 - 2,906,656 2,906,656

Changes in equity
Issue of share capital 300 - 300
Dividends - (65,500 ) (65,500 )
Total comprehensive income - 292,279 292,279
Balance at 31 January 2023 300 3,133,435 3,133,735

Changes in equity
Dividends - (889,735 ) (889,735 )
Total comprehensive income - 696,034 696,034
Balance at 31 January 2024 300 2,939,734 2,940,034

Weststone Limited (Registered number: 03161527)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

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

Financial Reporting Standard 102 - reduced disclosure exemptions
The company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":

the requirements of Section 7 Statement of Cash Flows.

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

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.

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.

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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Weststone Limited (Registered number: 03161527)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued

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 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.

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.

Weststone Limited (Registered number: 03161527)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued

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.

3. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

4. TURNOVER

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

An analysis of turnover by geographical market is given below:

2024 2023
£    £   
United Kingdom 19,327,739 10,987,848
International 60,911 30,356
19,388,650 11,018,204

5. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 1,783,383 1,120,484
Social security costs 177,817 103,799
Other pension costs 49,196 23,761
2,010,396 1,248,044

The average number of employees during the year was as follows:
2024 2023

Total 45 38

2024 2023
£    £   
Director's remuneration 9,000 18,000

Weststone Limited (Registered number: 03161527)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

6. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Hire of plant and machinery 3,268 5,645
Other operating leases 152,014 109,217
Depreciation - owned assets 64,948 10,365
Auditors' remuneration 10,500 -
Foreign exchange differences 9,258 9,255

7. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank interest 97,345 33,765
Bank loan interest 16,994 10,130
HP interest 7,747 779
122,086 44,674

8. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 172,755 108,430

Deferred tax 74,824 (25,869 )
Tax on profit 247,579 82,561

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

2024 2023
£    £   
Profit before tax 943,613 374,840
Profit multiplied by the standard rate of corporation tax in the UK of
24.030% (2023 - 19%)

226,750

71,220

Effects of:
Expenses not deductible for tax purposes 3,264 -
Deferred tax over provision 16,153 -
Other reconciling items (899 ) 11,341
rate differences 2,311 -
Total tax charge 247,579 82,561

Weststone Limited (Registered number: 03161527)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

9. DIVIDENDS
2024 2023
£    £   
Ordinary shares of £1 each
Final 889,735 65,500

10. TANGIBLE FIXED ASSETS
Long Plant and Motor Computer
leasehold machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 February 2023 89,684 64,259 92,876 260,845 507,664
Additions 180,850 2,990 89,773 100,275 373,888
Disposals (44,096 ) - - (86,886 ) (130,982 )
At 31 January 2024 226,438 67,249 182,649 274,234 750,570
DEPRECIATION
At 1 February 2023 67,112 45,465 1,548 170,283 284,408
Charge for year 18,103 3,573 21,194 22,078 64,948
Eliminated on disposal (44,096 ) - - (75,999 ) (120,095 )
At 31 January 2024 41,119 49,038 22,742 116,362 229,261
NET BOOK VALUE
At 31 January 2024 185,319 18,211 159,907 157,872 521,309
At 31 January 2023 22,572 18,794 91,328 90,562 223,256

11. STOCKS
2024 2023
£    £   
Stocks 7,120,277 4,160,384

Included within stock is £2,759,253 (2023:£1,458,005) of goods in transit at the balance sheet date, for which the company has the risks and rewards of ownership.

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 3,749,691 2,449,326
Amounts owed by group undertakings - 401,316
Other debtors 291,778 390,876
Prepayments 270,010 143,795
4,311,479 3,385,313

Weststone Limited (Registered number: 03161527)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 15) 84,533 74,592
Hire purchase contracts (see note 16) 28,714 12,139
Trade creditors 5,379,729 2,083,395
Tax 172,287 112,012
Social security and other taxes 48,792 36,398
VAT 498,531 335,194
Other creditors 2,649,960 1,804,900
Directors' loan accounts 23,892 23,893
Accruals and deferred income 83,870 46,035
8,970,308 4,528,558

14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 15) 133,889 218,421
Hire purchase contracts (see note 16) 69,062 50,556
202,951 268,977

15. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 84,533 74,592

Amounts falling due between two and five years:
Bank loans - 2-5 years 133,889 218,421

16. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 28,714 12,139
Between one and five years 69,062 50,556
97,776 62,695

Weststone Limited (Registered number: 03161527)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

16. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2024 2023
£    £   
Within one year 297,047 301,894
Between one and five years 1,121,447 -
1,418,494 301,894

17. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Invoice discounting 2,638,067 1,791,602

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

18. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 128,970 54,145

Deferred
tax
£   
Balance at 1 February 2023 54,145
Provided during year 74,825
Balance at 31 January 2024 128,970

19. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
242 Ordinary £1 242 242
56 Ordinary A £1 56 56
1 Ordinary B £1 1 1
1 Ordinary C £1 1 1
300 300

Weststone Limited (Registered number: 03161527)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

20. RESERVES
Retained
earnings
£   

At 1 February 2023 3,133,435
Profit for the year 696,034
Dividends (889,735 )
At 31 January 2024 2,939,734

21. RELATED PARTY AND DIRECTOR TRANSACTIONS

During the year, the company had a change in immediate parent undertaking to Weststone Group Limited.

The company purchased the stock and assets of One Stop CCTV Limited for a consideration of £317,313.

In addition, at the balance sheet date the director loan account balance was £23,892 (2023:£23,892). The balance is interest free and repayable on demand, included within creditors.