Company registration number 00495271 (England and Wales)
WESTBROOKE INVESTMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
WESTBROOKE INVESTMENTS LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 5
WESTBROOKE INVESTMENTS LIMITED
CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF WESTBROOKE INVESTMENTS LIMITED FOR THE YEAR ENDED 30 APRIL 2024
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Westbrooke Investments Limited for the year ended 30 April 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

 

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Westbrooke Investments Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Westbrooke Investments Limited and state those matters that we have agreed to state to the Board of Directors of Westbrooke Investments Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at icaew.com. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Westbrooke Investments Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Westbrooke Investments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Westbrooke Investments Limited. You consider that Westbrooke Investments Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Westbrooke Investments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Carpenter Box
28 January 2025
Chartered Accountants
Amelia House
Crescent Road
Worthing
West Sussex
BN11 1RL
WESTBROOKE INVESTMENTS LIMITED
BALANCE SHEET
AS AT 30 APRIL 2024
30 April 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
3
1,285,000
1,372,500
Current assets
Debtors
4
43,582
49,013
Cash at bank and in hand
29,821
60,384
73,403
109,397
Creditors: amounts falling due within one year
5
(34,231)
(41,763)
Net current assets
39,172
67,634
Total assets less current liabilities
1,324,172
1,440,134
Provisions for liabilities
(233,000)
(255,000)
Net assets
1,091,172
1,185,134
Capital and reserves
Called up share capital
5,000
5,000
Profit and loss reserves
1,086,172
1,180,134
Total equity
1,091,172
1,185,134

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved by the board of directors and authorised for issue on 28 January 2025 and are signed on its behalf by:
Mr J H Whitaker
Director
Company registration number 00495271 (England and Wales)
WESTBROOKE INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
1
Accounting policies
Company information

Westbrooke Investments Limited is a private company limited by shares incorporated in England and Wales. The registered office is Amelia House, Crescent Road, Worthing, West Sussex, BN11 1QR.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration of rents receivable provided in the normal course of business on a time apportioned basis.

1.3
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

1.4
Cash and cash equivalents

Cash at bank and in hand are basic financial assets.

1.5
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 of its financial instruments.

Basic financial assets

Basic financial assets, which include trade debtors, other debtors, cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost.

Basic financial liabilities

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

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.7
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year.

WESTBROOKE INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 3 (2023 - 3).

3
Investment property
2024
£
Fair value
At 1 May 2023
1,372,500
Revaluations
(87,500)
At 30 April 2024
1,285,000

The fair value of the investment property has been arrived at on the basis of an independent valuation. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.

4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
11,367
24,470
Other debtors
32,215
24,543
43,582
49,013
5
Creditors: amounts falling due within one year
2024
2023
£
£
Taxation and social security
2,622
12,040
Other creditors
31,609
29,723
34,231
41,763
WESTBROOKE INVESTMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 5 -
6
Deferred taxation

Deferred tax assets and liabilities are offset where the company has a legally enforceable right to do so. The following is the analysis of the deferred tax balances (after offset) for financial reporting purposes:

Liabilities
Liabilities
2024
2023
Balances:
£
£
Investment property
233,000
255,000
2024
Movements in the year:
£
Liability at 1 May 2023
255,000
Credit to profit or loss
(22,000)
Liability at 30 April 2024
233,000

The directors have considered the deferred tax liabilities noted above and concluded that it is not possible to state the estimated liabilities which will reverse within the next 12 months. This is due to the level of reversal being dependant on events which are not yet known.

7
Events after the reporting date

Dividends totalling £40,000 were declared and paid since the year end.

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