Company registration number 12421461 (England and Wales)
WESTERLEIGH LONDON LIMITED
Unaudited financial statements
For the year ended 30 June 2024
Pages for filing with registrar
WESTERLEIGH LONDON LIMITED
CONTENTS
Page
Statement of financial position
1
Notes to the financial statements
2 - 4
WESTERLEIGH LONDON LIMITED
STATEMENT OF FINANCIAL POSITION
As at 30 June 2024
- 1 -
2024
2023
Notes
£
£
£
£
Non-current assets
Investments
3
8,783,049
8,639,158
Current assets
Trade and other receivables
4
77,215
76,980
Cash and cash equivalents
2,910,375
2,667,196
2,987,590
2,744,176
Current liabilities
5
(11,400,833)
(11,265,607)
Net current liabilities
(8,413,243)
(8,521,431)
Net assets
369,806
117,727
Equity
Called up share capital
6
10
10
Retained earnings
369,796
117,717
Total equity
369,806
117,727

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

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

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The director of the company has elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 4 February 2025
Mr B D Goodberry
Director
Company registration number 12421461 (England and Wales)
WESTERLEIGH LONDON LIMITED
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 30 June 2024
- 2 -
1
Accounting policies
Company information

Westerleigh London Limited is a private company limited by shares incorporated in England and Wales. The registered office is Connect House, 133-137 Alexandra Road, London, SW19 7JY.

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 £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Non-current investments

Investment in art, which are held for capital appreciation, are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

 

Unlisted investments are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

 

Investments in partnerships are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

 

Loan notes are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

1.3
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.4
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.

 

Financial instruments are recognised in the company's statement of financial position 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 and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

WESTERLEIGH LONDON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 30 June 2024
1
Accounting policies
(Continued)
- 3 -
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 trade and other payables, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

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

1.5
Taxation

The tax expense represents the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

2
Employees

The company had no employees at any time during the accounting period or during the preeceeding period.

3
Fixed asset investments
2024
2023
£
£
Other investments other than loans
7,783,049
7,639,158
Loans
1,000,000
1,000,000
8,783,049
8,639,158
Movements in non-current investments
Investments
Loans
Total
£
£
£
Cost or valuation
At 1 July 2023
7,639,158
1,000,000
8,639,158
Valuation changes
143,891
-
143,891
At 30 June 2024
7,783,049
1,000,000
8,783,049
Carrying amount
At 30 June 2024
7,783,049
1,000,000
8,783,049
At 30 June 2023
7,639,158
1,000,000
8,639,158
WESTERLEIGH LONDON LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
For the year ended 30 June 2024
- 4 -
4
Trade and other receivables
2024
2023
Amounts falling due within one year:
£
£
Other receivables
77,215
76,980
5
Current liabilities
2024
2023
£
£
Amounts owed to a limited partnership in which the company has a participating interest
172,611
40,882
Corporation tax
33,526
27,289
Other payables
11,194,696
11,197,436
11,400,833
11,265,607
6
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 1p each
1,000
1,000
10
10
2024-06-302023-07-01falsefalsefalse04 February 2025CCH SoftwareCCH Accounts Production 2024.301No description of principal activityMr B Goodberry0124214612023-07-012024-06-30124214612024-06-30124214612023-06-3012421461core:CurrentFinancialInstrumentscore:WithinOneYear2024-06-3012421461core:CurrentFinancialInstrumentscore:WithinOneYear2023-06-3012421461core:CurrentFinancialInstruments2024-06-3012421461core:CurrentFinancialInstruments2023-06-3012421461core:ShareCapital2024-06-3012421461core:ShareCapital2023-06-3012421461core:RetainedEarningsAccumulatedLosses2024-06-3012421461core:RetainedEarningsAccumulatedLosses2023-06-3012421461bus:Director12023-07-012024-06-3012421461core:Non-currentFinancialInstruments2024-06-3012421461core:Non-currentFinancialInstruments2023-06-3012421461core:WithinOneYear2024-06-3012421461core:WithinOneYear2023-06-3012421461bus:PrivateLimitedCompanyLtd2023-07-012024-06-3012421461bus:SmallCompaniesRegimeForAccounts2023-07-012024-06-3012421461bus:FRS1022023-07-012024-06-3012421461bus:AuditExemptWithAccountantsReport2023-07-012024-06-3012421461bus:FullAccounts2023-07-012024-06-30xbrli:purexbrli:sharesiso4217:GBP