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REGISTERED NUMBER: 08948660 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

Westcom Properties Ltd

Westcom Properties Ltd (Registered number: 08948660)

Contents of the Financial Statements
for the Year Ended 31 December 2024










Page

Balance Sheet 1

Notes to the Financial Statements 3


Westcom Properties Ltd (Registered number: 08948660)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £ £
Fixed assets
Investment property 5 670,000 660,000

Current assets
Cash at bank 11,237 1,329

Creditors
Amounts falling due within one year 6 (415,987 ) (414,740 )
Net current liabilities (404,750 ) (413,411 )
Total assets less current liabilities 265,250 246,589

Provisions for liabilities (37,472 ) (34,887 )
Net assets 227,778 211,702

Capital and reserves
Called up share capital 7 100 100
Revaluation reserve 8 197,221 187,221
Retained earnings 8 30,457 24,381
Shareholders' funds 227,778 211,702

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Westcom Properties Ltd (Registered number: 08948660)

Balance Sheet - continued
31 December 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 March 2025 and were signed on its behalf by:




Mr B Manning - Director Mr M J Cook - Director




Mr J Overson - Director


Westcom Properties Ltd (Registered number: 08948660)

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


1. Statutory information

Westcom Properties Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 08948660

Registered office: Church View
214 Main Road
West Winch
Kings Lynn
Norfolk
PE33 0NP

The presentation currency of the financial statements is the Pound Sterling (£).


2. Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Critical accounting judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Westcom Properties Ltd (Registered number: 08948660)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


3. Accounting policies - continued

Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. 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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


Westcom Properties Ltd (Registered number: 08948660)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


3. Accounting policies - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

4. Employees and directors

The average number of employees during the year was 3 (2023 - 3 ) .

5. Investment property
Total
£
Fair value
At 1 January 2024 660,000
Revaluations 10,000
At 31 December 2024 670,000
Net book value
At 31 December 2024 670,000
At 31 December 2023 660,000

Fair value at 31 December 2024 is represented by:
£
Valuation in 2017 17,188
Valuation in 2018 36,000
Valuation in 2021 84,033
Valuation in 2022 60,000
Valuation in 2023 (10,000 )
Valuation in 2024 10,000
Cost 472,779
670,000

Westcom Properties Ltd (Registered number: 08948660)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024


5. Investment property - continued

If investment property had not been revalued it would have been included at the following historical cost:

31.12.24 31.12.23
£ £
Cost 472,779 472,779

Investment property was valued on an open market basis on 31 December 2024 by the directors .

6. Creditors: amounts falling due within one year
31.12.24 31.12.23
£ £
Amounts owed to group undertakings 412,437 412,437
Taxation and social security 1,186 -
Other creditors 2,364 2,303
415,987 414,740

7. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.24 31.12.23
value: £ £
100 Ordinary 1 100 100

8. Reserves
Retained Revaluation
earnings reserve Totals
£ £ £

At 1 January 2024 24,381 187,221 211,602
Profit for the year 16,076 16,076
Reclassification to/from
revaluation reserve

(10,000

)

10,000

-

At 31 December 2024 30,457 197,221 227,678

Profit and loss account - This reserve records distributable retained earnings and accumulated losses.

9. Ultimate controlling party

The ultimate controlling party is Jodan Investments Limited incorporated in England and Wales.