Westbury Garage (Telford) Limited 02368738 false 2023-05-01 2024-04-30 2024-04-30 The principal activity of the company is that of a property development and management company. Digita Accounts Production Advanced 6.30.9574.0 true false false 02368738 2023-05-01 2024-04-30 02368738 2024-04-30 02368738 bus:OrdinaryShareClass1 2024-04-30 02368738 core:CurrentFinancialInstruments 2024-04-30 02368738 core:CurrentFinancialInstruments core:WithinOneYear 2024-04-30 02368738 core:Non-currentFinancialInstruments 2024-04-30 02368738 core:Non-currentFinancialInstruments core:AfterOneYear 2024-04-30 02368738 core:OtherPropertyPlantEquipment 2024-04-30 02368738 bus:SmallEntities 2023-05-01 2024-04-30 02368738 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 02368738 bus:FilletedAccounts 2023-05-01 2024-04-30 02368738 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-04-30 02368738 bus:RegisteredOffice 2023-05-01 2024-04-30 02368738 bus:Director1 2023-05-01 2024-04-30 02368738 bus:Director2 2023-05-01 2024-04-30 02368738 bus:Director3 2023-05-01 2024-04-30 02368738 bus:Director4 2023-05-01 2024-04-30 02368738 bus:Director5 2023-05-01 2024-04-30 02368738 bus:OrdinaryShareClass1 2023-05-01 2024-04-30 02368738 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 02368738 core:OtherPropertyPlantEquipment 2023-05-01 2024-04-30 02368738 core:PlantMachinery 2023-05-01 2024-04-30 02368738 1 2023-05-01 2024-04-30 02368738 countries:AllCountries 2023-05-01 2024-04-30 02368738 2023-04-30 02368738 core:OtherPropertyPlantEquipment 2023-04-30 02368738 2022-05-01 2023-04-30 02368738 2023-04-30 02368738 bus:OrdinaryShareClass1 2023-04-30 02368738 core:CurrentFinancialInstruments 2023-04-30 02368738 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 02368738 core:Non-currentFinancialInstruments 2023-04-30 02368738 core:Non-currentFinancialInstruments core:AfterOneYear 2023-04-30 02368738 core:OtherPropertyPlantEquipment 2023-04-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 02368738

Westbury Garage (Telford) Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 April 2024

 

Westbury Garage (Telford) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

Westbury Garage (Telford) Limited

Company Information

Directors

Mr A M Edwards

Mr J H Edwards

Mrs C S Edwards

Mr J Edwards

Mr J P Edwards

Registered office

Downton Hall
Downton
Upton Magna
Shrewsbury
Shropshire
SY4 4PL

Accountants

CBSL Accountants Limited
Chartered Accountants
Rowan House North
1 The Professional Quarter
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG

 

Westbury Garage (Telford) Limited

(Registration number: 02368738)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

1,125

1,884

Investment property

5

2,410,000

2,410,000

 

2,411,125

2,411,884

Current assets

 

Debtors

6

148,382

173,621

Cash at bank and in hand

 

15,837

15,950

 

164,219

189,571

Creditors: Amounts falling due within one year

7

(64,949)

(57,868)

Net current assets

 

99,270

131,703

Total assets less current liabilities

 

2,510,395

2,543,587

Creditors: Amounts falling due after more than one year

7

(1,012,174)

(1,043,897)

Provisions for liabilities

(111,860)

(111,860)

Net assets

 

1,386,361

1,387,830

Capital and reserves

 

Called up share capital

8

200,000

200,000

Retained earnings

1,186,361

1,187,830

Shareholders' funds

 

1,386,361

1,387,830

For the financial year ending 30 April 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.

 

Westbury Garage (Telford) Limited

(Registration number: 02368738)
Balance Sheet as at 30 April 2024

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.

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 4 December 2024 and signed on its behalf by:
 


Mr A M Edwards
Director

 

Westbury Garage (Telford) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

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

The address of its registered office is:
Downton Hall
Downton
Upton Magna
Shrewsbury
Shropshire
SY4 4PL

The principal place of business is:
Featherbed Lane
Shrewsbury
Shropshire
SY1 4NU

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

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 is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Westbury Garage (Telford) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Equipment

20% straight line

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. 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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2023 - 5).

 

Westbury Garage (Telford) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Other tangible assets
£

Total
£

Cost or valuation

At 1 May 2023

5,640

5,640

At 30 April 2024

5,640

5,640

Depreciation

At 1 May 2023

3,756

3,756

Charge for the year

759

759

At 30 April 2024

4,515

4,515

Carrying amount

At 30 April 2024

1,125

1,125

At 30 April 2023

1,884

1,884

5

Investment properties

2024
£

At 1 May

2,410,000

At 30 April

2,410,000

The investment properties have been valued by the directors on an open market value basis by reference to market evidence of transaction prices for similar properties and third party valuations received during the period.

 

Westbury Garage (Telford) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

6

Debtors

Note

2024
£

2023
£

Amounts owed by group undertakings and undertakings in which the company has a participating interest

148,382

173,621

 

148,382

173,621

7

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Taxation and social security

29,278

23,034

Accruals and deferred income

28,983

28,146

Other creditors

6,688

6,688

64,949

57,868

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

1,012,174

1,043,897

Creditors include bank loans which are secured of £1,012,174 (2023 - £1,043,897).

 

Westbury Garage (Telford) Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

200,000

200,000

200,000

200,000

       

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

1,012,174

1,043,897

10

Parent and ultimate parent undertaking

The company's immediate parent is Westbury Garage (Salop) Limited, incorporated in England & Wales.