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Registration number: 03807607

Westlink Properties (Wirral) Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

Westlink Properties (Wirral) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 7

 

Westlink Properties (Wirral) Limited

Company Information

Directors

Mr Malcolm Irving

Mr Edward Nicholas Rice

Company secretary

Mr Edward Nicholas Rice

Registered office

Thorn Hedge
18 Park West
Lower Heswall
Wirral
CH60 9JF

 

Westlink Properties (Wirral) Limited

(Registration number: 03807607)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

275,000

275,000

Current assets

 

Debtors

5

1,150

1,388

Cash at bank and in hand

 

22,096

11,043

 

23,246

12,431

Creditors: Amounts falling due within one year

6

(60,674)

(58,783)

Net current liabilities

 

(37,428)

(46,352)

Total assets less current liabilities

 

237,572

228,648

Creditors: Amounts falling due after more than one year

6

(55,861)

(54,069)

Provisions for liabilities

(2,796)

(2,796)

Net assets

 

178,915

171,783

Capital and reserves

 

Called up share capital

7

200

200

Fair value reserve

113,285

113,285

Profit and loss account

65,430

58,298

Total equity

 

178,915

171,783

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

 

Westlink Properties (Wirral) Limited

(Registration number: 03807607)
Balance Sheet as at 31 July 2024

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 17 January 2025 and signed on its behalf by:
 

.........................................
Mr Edward Nicholas Rice
Company secretary and director

 

Westlink Properties (Wirral) Limited

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

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Thorn Hedge
18 Park West
Lower Heswall
Wirral
CH60 9JF
England

These financial statements were authorised for issue by the Board on 17 January 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover comprises rental income receivable during the year.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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

Deferred taxation is provided on any investment property gains at the rate expected to apply when the property is sold.

 

Westlink Properties (Wirral) Limited

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

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the Directors, Mr EN Rice FRICS and Mr MW Irving. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss. Deferred tax is provided on these gains at the rate expected to apply when the property is sold.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2023 - 0).

4

Investment properties

2024
£

At 1 August 2023

275,000

At 31 July 2024

275,000

5

Debtors

Current

2024
£

2023
£

Prepayments

1,150

1,028

Other debtors

-

360

 

1,150

1,388

 

Westlink Properties (Wirral) Limited

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

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

3,977

3,225

Accruals and deferred income

10,755

15,634

Other creditors

45,942

39,924

60,674

58,783

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

55,861

54,069

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A shares of £1 each

100

100

100

100

Ordinary B shares of £1 each

100

100

100

100

200

200

200

200

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Other borrowings

55,861

54,069

 

Westlink Properties (Wirral) Limited

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

9

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £50.00 (2023 - £Nil) per each Ordinary A shares

5,000

-

Interim dividend of £50.00 (2023 - £200.00) per each Ordinary B shares

5,000

10,000

10,000

10,000