Company registration number: 04208260
Unaudited financial statements
for the year ended 31 July 2024
for
Westcotec Limited
Pages for filing with the Registrar
Company registration number: 04208260
Westcotec Limited
Balance sheet
as at 31 July 2024
31 Jul 24 31 Jul 23
Note £ £ £ £
Fixed assets
Tangible assets 4 1,502,026 1,506,729
Investment property 5 60,000 60,000
1,562,026 1,566,729
Current assets
Stocks 446,363 443,273
Debtors 748,916 815,227
Cash at bank and in hand 554,262 197,347
1,749,541 1,455,847
Creditors: amounts falling due within one
year
(475,753) (281,092)
Net current assets 1,273,788 1,174,755
Total assets less current liabilities 2,835,814 2,741,484
Creditors: Amounts falling due after more
than one year
(71,550) -
Provisions for liabilities (122,721) (141,064)
NET ASSETS 2,641,543 2,600,420
Capital and reserves
Called up share capital 53,587 53,587
Share premium account 586,540 586,540
Revaluation reserve 165,000 165,000
Other reserves (172,355) (172,355)
Profit and loss account 2,008,771 1,967,648
TOTAL EQUITY 2,641,543 2,600,420
The company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies for the year ended 31 July 2024.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities to comply with the Companies Act 2006 in respect to accounting records and the preparation of financial statements.
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Company registration number: 04208260
Westcotec Limited
Balance sheet - continued
as at 31 July 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 Profit and loss account has not been delivered to the Registrar.
These financial statements were approved by the Board of directors and authorised for issue on 20 March 2025 and signed on its behalf by:
Mr C Spinks, Director
20 March 2025
2
Westcotec Limited
Notes to the financial statements
for the year ended 31 July 2024
1 Company information
Westcotec Limited is a private company registered in England and Wales. Its registered number is 04208260. The company is limited by shares. Its registered office is 34 Bertie Ward Way, Rash's Green Ind Est, Dereham, NR19 1TE.
2 Accounting policies
Basis of preparing the financial statements
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. The financial statements have been prepared under the historic cost convention.
Going concern
In preparing these financial statements, the directors have assessed whether there are any material uncertainties related to events or conditions that cast significant doubt upon the company's ability to continue as a going concern. In making this assessment, the directors take into account all available information about the future which is at least 12 months from the date that the financial statements are authorised for issue.
The directors consider that the company has adequate resources to continue in business for the foreseeable future and that it is appropriate to adopt the going concern basis in preparing the financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings:
Freehold property - 2% straight line
Plant and machinery etc.:
Plant and machinery - 25% reducing balance
Fixtures & fittings - 25% reducing balance
Motor vehicles - 25% reducing balance
Computer equipment - 25% reducing balance
Investment property
Investment property is shown at its most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
3
Westcotec Limited
Notes to the financial statements - continued
for the year ended 31 July 2024
2 Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred taxation. Tax is recognised in the Profit and loss account, 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.
Deferred taxation
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 been enacted or substantively enacted by the balance sheet date 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 probably that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.
The interest element of these obligations is charged to profit or lossover the relevant period. The capital element of the future payments is treated as a liability.
3 Average number of employees
During the year the average number of employees was 22 (2023 - 22).
4 Tangible fixed assets
Land and
buildings
Plant and
machinery
etc.
Totals
£ £ £
Cost
At 1 August 2023 1,410,953 1,051,226 2,462,179
Additions 138 158,788 158,926
Disposals - (48,995) (48,995)
At 31 July 2024 1,411,091 1,161,019 2,572,110
4
Westcotec Limited
Notes to the financial statements - continued
for the year ended 31 July 2024
4 Tangible fixed assets - continued
Depreciation
At 1 August 2023 204,386 751,064 955,450
Charge for year 28,222 107,847 136,069
Eliminated on disposal - (21,435) (21,435)
At 31 July 2024 232,608 837,476 1,070,084
Net book value
At 31 July 2024 1,178,483 323,543 1,502,026
At 31 July 2023 1,206,567 300,162 1,506,729
5 Investment property
£
Valuation
At 1 August 2023 60,000
Disposals -
At 31 July 2024 60,000
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