Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-3011The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-05-01false11truetruefalse 02810684 2023-05-01 2024-04-30 02810684 2022-05-01 2023-04-30 02810684 2024-04-30 02810684 2023-04-30 02810684 2022-05-01 02810684 c:Director1 2023-05-01 2024-04-30 02810684 d:Buildings 2023-05-01 2024-04-30 02810684 d:Buildings 2024-04-30 02810684 d:Buildings 2023-04-30 02810684 d:Buildings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 02810684 d:OfficeEquipment 2023-05-01 2024-04-30 02810684 d:OtherPropertyPlantEquipment 2023-05-01 2024-04-30 02810684 d:OtherPropertyPlantEquipment 2024-04-30 02810684 d:OtherPropertyPlantEquipment 2023-04-30 02810684 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 02810684 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 02810684 d:PatentsTrademarksLicencesConcessionsSimilar 2023-05-01 2024-04-30 02810684 d:PatentsTrademarksLicencesConcessionsSimilar 2024-04-30 02810684 d:PatentsTrademarksLicencesConcessionsSimilar 2023-04-30 02810684 d:FreeholdInvestmentProperty 2024-04-30 02810684 d:FreeholdInvestmentProperty 2023-04-30 02810684 d:FreeholdInvestmentProperty 2 2023-05-01 2024-04-30 02810684 d:FreeholdInvestmentProperty 3 2023-05-01 2024-04-30 02810684 d:CurrentFinancialInstruments 2024-04-30 02810684 d:CurrentFinancialInstruments 2023-04-30 02810684 d:Non-currentFinancialInstruments 2024-04-30 02810684 d:Non-currentFinancialInstruments 2023-04-30 02810684 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 02810684 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 02810684 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 02810684 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 02810684 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-04-30 02810684 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-04-30 02810684 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-04-30 02810684 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-04-30 02810684 d:ShareCapital 2024-04-30 02810684 d:ShareCapital 2023-04-30 02810684 d:CapitalRedemptionReserve 2024-04-30 02810684 d:CapitalRedemptionReserve 2023-04-30 02810684 d:RevaluationReserve 2024-04-30 02810684 d:RevaluationReserve 2023-04-30 02810684 d:RetainedEarningsAccumulatedLosses 2024-04-30 02810684 d:RetainedEarningsAccumulatedLosses 2023-04-30 02810684 c:OrdinaryShareClass1 2023-05-01 2024-04-30 02810684 c:OrdinaryShareClass1 2024-04-30 02810684 c:OrdinaryShareClass1 2023-04-30 02810684 c:FRS102 2023-05-01 2024-04-30 02810684 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 02810684 c:FullAccounts 2023-05-01 2024-04-30 02810684 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 02810684 d:Subsidiary1 2023-05-01 2024-04-30 02810684 d:Subsidiary1 1 2023-05-01 2024-04-30 02810684 d:WithinOneYear 2024-04-30 02810684 d:WithinOneYear 2023-04-30 02810684 d:BetweenOneFiveYears 2024-04-30 02810684 d:BetweenOneFiveYears 2023-04-30 02810684 2 2023-05-01 2024-04-30 02810684 6 2023-05-01 2024-04-30 02810684 d:AcceleratedTaxDepreciationDeferredTax 2024-04-30 02810684 d:AcceleratedTaxDepreciationDeferredTax 2023-04-30 02810684 d:RetirementBenefitObligationsDeferredTax 2024-04-30 02810684 d:RetirementBenefitObligationsDeferredTax 2023-04-30 02810684 d:OtherDeferredTax 2024-04-30 02810684 d:OtherDeferredTax 2023-04-30 02810684 f:PoundSterling 2023-05-01 2024-04-30 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 02810684









WESTWAYS ESTATE AGENTS LIMITED

UNAUDITED

FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024



 
WESTWAYS ESTATE AGENTS LIMITED
REGISTERED NUMBER: 02810684

BALANCE SHEET
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 4 
13,182
6,403

Tangible fixed assets
 5 
618,513
696,012

Investments
 6 
4,800
4,800

Investment property
 7 
1,275,674
981,083

  
1,912,169
1,688,298

Current assets
  

Debtors: amounts falling due within one year
 8 
1,127,085
944,508

Current asset investments
 9 
156,881
188,393

Cash at bank and in hand
  
132,852
251,226

  
1,416,818
1,384,127

Creditors: amounts falling due within one year
 10 
(868,695)
(838,040)

Net current assets
  
 
 
548,123
 
 
546,087

Total assets less current liabilities
  
2,460,292
2,234,385

Creditors: amounts falling due after more than one year
 11 
(878,116)
(973,594)

Provisions for liabilities
  

Deferred tax
 13 
(53,582)
(437)

  
 
 
(53,582)
 
 
(437)

Net assets
  
1,528,594
1,260,354


Capital and reserves
  

Called up share capital 
 14 
1,000
1,000

Other reserves
  
159,769
17,792

Capital redemption reserve
  
1
1

Profit and loss account
  
1,367,824
1,241,561

  
1,528,594
1,260,354


Page 1

 
WESTWAYS ESTATE AGENTS LIMITED
REGISTERED NUMBER: 02810684

BALANCE SHEET (CONTINUED)
AS AT 30 APRIL 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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 financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




A Stylianou
Director

Date: 28 January 2025

The notes on pages 3 to 15 form part of these financial statements.

Page 2

 
WESTWAYS ESTATE AGENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

The company is a private company limited by shares, incorporated in England and Wales.The registered number for the company is 02810684. The trading and registered office address is 20 Great Western Road, London, W9 3NN. The company is part of a group.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the revaluation model, intangible assets shall be carried at a revalued amount, being its fair value at the date of revaluation less any subsequent accumulated amortisation and subsequent impairment losses - provided that the fair value can be determined by reference to an active market.
Revaluations are made with sufficient regularity to ensure that the carrying amount does not differ materially from that which would be determined using fair value at the end of the balance sheet date.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
WESTWAYS ESTATE AGENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
3 year straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined anually by the directors.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.6

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Profit and Loss Account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
WESTWAYS ESTATE AGENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of 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 the 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 trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Page 5

 
WESTWAYS ESTATE AGENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.10
Financial instruments (continued)

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Profit and Loss Account within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 6

 
WESTWAYS ESTATE AGENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.13

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.14

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.15

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.16

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.17

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.18

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 7

 
WESTWAYS ESTATE AGENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.19

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.



3.


Employees

The average monthly number of employees, including directors, during the year was 11 (2023 - 11).

Page 8

 
WESTWAYS ESTATE AGENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

4.


Intangible assets




Intangible Assets

£



Cost


At 1 May 2023
16,814


Revaluation surplus
6,779



At 30 April 2024

23,593



Amortisation


At 1 May 2023
10,411



At 30 April 2024

10,411



Net book value



At 30 April 2024
13,182



At 30 April 2023
6,403



Page 9

 
WESTWAYS ESTATE AGENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

5.


Tangible fixed assets





Freehold Land & Buildings
Fixtures, fittings and equipment
Total

£
£
£



Cost or valuation


At 1 May 2023
693,567
9,774
703,341


Additions
-
2,068
2,068


Reclassifications
(135,385)
-
(135,385)


Revaluations
58,287
-
58,287



At 30 April 2024

616,469
11,842
628,311



Depreciation


At 1 May 2023
-
7,329
7,329


Charge for the year on owned assets
-
2,469
2,469



At 30 April 2024

-
9,798
9,798



Net book value



At 30 April 2024
616,469
2,044
618,513



At 30 April 2023
693,567
2,445
696,012


6.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 May 2023
4,800



At 30 April 2024
4,800





Subsidiary undertaking


The following was a subsidiary undertaking of the Company:

Name

Registered office

Principal activity

Class of shares

Holding

Skyways Limited
20 Great Western Road, London, W9 3NN
Property Investment
Ordinary
100%

Page 10

 
WESTWAYS ESTATE AGENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

7.


Investment property


Freehold investment property

£



Valuation


At 1 May 2023
981,083


Surplus on revaluation
159,206


Reclassifications
135,385



At 30 April 2024
1,275,674

The 2024 valuations were made by the director, on an open market value for existing use basis.





If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
1,116,468
981,083



Page 11

 
WESTWAYS ESTATE AGENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

8.


Debtors

2024
2023
£
£


Trade debtors
69,617
74,119

Other debtors
815,734
661,210

Prepayments and accrued income
7,516
3,071

Tax recoverable
234,218
206,108

1,127,085
944,508



9.


Current asset investments

2024
2023
£
£

Listed investments
156,881
186,393

Unlisted investments
-
2,000

156,881
188,393



10.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
-
15,435

Bank loans
65,676
31,310

Trade creditors
15,570
7,542

Corporation tax
61,512
56,236

Other taxation and social security
47,220
39,982

Other creditors
652,247
644,648

Accruals and deferred income
26,470
42,887

868,695
838,040


Page 12

 
WESTWAYS ESTATE AGENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

11.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
878,116
973,594


The following liabilities were secured:

2024
2023
£
£



Bank loan
943,792
1,004,904

943,792
1,004,904

Details of security provided:

Included within creditors are secured debts amounting to £943,792 (2023 - £1,004,904) which are secured via a fixed and floating charge on the Company’s assets.


12.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
65,676
31,310

Amounts falling due 1-2 years

Bank loans
878,116
33,448

Amounts falling due 2-5 years

Bank loans
-
940,146

943,792
1,004,904


Page 13

 
WESTWAYS ESTATE AGENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

13.


Deferred taxation




2024
2023


£

£






At beginning of year
(437)
(1,182)


Charged to profit or loss
(53,145)
745



At end of year
(53,582)
(437)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(511)
(612)

Pension surplus
185
175

Potential capital gain on property
(53,256)
-

(53,582)
(437)


14.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1,000 (2023 - 1,000) Ordinary shares of £1.00 each
1,000
1,000



15.


Pension commitments

The entity operated a defined contributions pension scheme in the year. The assets of the scheme are held separately from those of the entity in an independently administered fund. The pension cost charge represents contributions payable by the entity to the fund and amounted to £9,269 (2023 - £9,353). Contributions totalling £1,203 (2023 - £1,628) were payable to the fund at the balance sheet. 


16.


Commitments under operating leases

At 30 April 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
7,680
10,535

Later than 1 year and not later than 5 years
1,920
2,679

9,600
13,214

Page 14

 
WESTWAYS ESTATE AGENTS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

17.


Transactions with directors

The HMRC approved interest rate of 2.25% (2023 - 2%) was applied to the loan. As at year end the amount due to the company was included in other debtors.

2024
2023
        £
        £
Balance at 1 May

627,094

520,391
 
Amounts advanced in the period

83,292

106,703
 
Balance at 30 April

710,386

627,094
 


18.


Controlling party

The company is controlled by Mr A Stylianou by virtue of his majority shareholding.


Page 15