Westwood 16 Limited 09259312 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is that of property investment. Digita Accounts Production Advanced 6.30.9574.0 true true 09259312 2023-07-01 2024-06-30 09259312 2024-06-30 09259312 core:RetainedEarningsAccumulatedLosses 2024-06-30 09259312 core:ShareCapital 2024-06-30 09259312 core:CurrentFinancialInstruments 2024-06-30 09259312 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 09259312 core:Non-currentFinancialInstruments core:AfterOneYear 2024-06-30 09259312 bus:SmallEntities 2023-07-01 2024-06-30 09259312 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 09259312 bus:FilletedAccounts 2023-07-01 2024-06-30 09259312 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 09259312 bus:RegisteredOffice 2023-07-01 2024-06-30 09259312 bus:Director1 2023-07-01 2024-06-30 09259312 bus:Director2 2023-07-01 2024-06-30 09259312 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 09259312 countries:EnglandWales 2023-07-01 2024-06-30 09259312 2023-06-30 09259312 2022-07-01 2023-06-30 09259312 2023-06-30 09259312 core:RetainedEarningsAccumulatedLosses 2023-06-30 09259312 core:ShareCapital 2023-06-30 09259312 core:CurrentFinancialInstruments 2023-06-30 09259312 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 09259312 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 iso4217:GBP xbrli:pure

Registration number: 09259312

Westwood 16 Limited

Annual Report and Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Westwood 16 Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Westwood 16 Limited

Company Information

Directors

J Maryon

J Whelan

Registered office

The Old Church School
Butts Hill
Frome
BA11 1HR

Accountants

Burton Sweet Limited
Chartered Accountants and Business Advisors
Cooper House
Lower Charlton
Shepton Mallet
Somerset
BA4 5QE

 

Westwood 16 Limited

(Registration number: 09259312)
Balance Sheet
30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

4,202,000

4,202,000

Current assets

 

Debtors

5

868,537

875,464

Cash at bank and in hand

 

10,515

35,513

 

879,052

910,977

Creditors: Amounts falling due within one year

6

(494,572)

(490,617)

Net current assets

 

384,480

420,360

Total assets less current liabilities

 

4,586,480

4,622,360

Creditors: Amounts falling due after more than one year

6

(2,703,242)

(2,703,242)

Provisions for liabilities

(345,081)

(345,081)

Net assets

 

1,538,157

1,574,037

Capital and reserves

 

Called up share capital

100

100

Retained earnings

1,538,057

1,573,937

Shareholders' funds

 

1,538,157

1,574,037

 

Westwood 16 Limited

(Registration number: 09259312)
Balance Sheet
30 June 2024

For the financial year ending 30 June 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.

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 24 March 2025 and signed on its behalf by:
 

.........................................
J Maryon
Director

 

Westwood 16 Limited

Notes to the Unaudited Financial Statements
Year Ended 30 June 2024

1

General information

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

The address of its registered office is:
The Old Church School
Butts Hill
Frome
BA11 1HR

These financial statements were authorised for issue by the Board on 24 March 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 directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statments.

Revenue recognition

Rental income investment properties rented out under operating leases is recognised in the statement of income and retained earnings on a straight-line basis over the term of the lease.

 

Westwood 16 Limited

Notes to the Unaudited Financial Statements
Year Ended 30 June 2024

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 corporation 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.

Investment property

Investment property is initially recognised ast cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at each reporting date with changes in fair value recognised in profit or loss. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

The fair value is determined annually by the directors, on an open market value for existing use basis.

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 merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Westwood 16 Limited

Notes to the Unaudited Financial Statements
Year Ended 30 June 2024

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.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

4

Investment properties

2024
£

At 1 July

4,202,000

At 30 June

4,202,000

5

Debtors

2024
£

2023
£

Amounts owed by related parties

866,438

871,128

Prepayments

2,099

4,336

868,537

875,464

 

Westwood 16 Limited

Notes to the Unaudited Financial Statements
Year Ended 30 June 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

3,149

1,250

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

483,303

481,542

Accruals and deferred income

6,598

7,825

Other creditors

1,522

-

494,572

490,617

Creditors: amounts falling due after more than one year

2024
£

2023
£

Due after one year

Loans and borrowings

2,703,242

2,703,242


Creditors include bank loans which are secured of £2,703,242 ( 2023: £2,703,242).