Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31No description of principal activityfalse32023-04-01falsetrue3trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 00837556 2023-04-01 2024-03-31 00837556 2022-04-01 2023-03-31 00837556 2024-03-31 00837556 2023-03-31 00837556 c:Director3 2023-04-01 2024-03-31 00837556 d:CurrentFinancialInstruments 2024-03-31 00837556 d:CurrentFinancialInstruments 2023-03-31 00837556 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 00837556 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 00837556 d:ShareCapital 2024-03-31 00837556 d:ShareCapital 2023-03-31 00837556 d:RetainedEarningsAccumulatedLosses 2024-03-31 00837556 d:RetainedEarningsAccumulatedLosses 2023-03-31 00837556 c:FRS102 2023-04-01 2024-03-31 00837556 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 00837556 c:FullAccounts 2023-04-01 2024-03-31 00837556 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 00837556 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 00837556










WESTWAYS PROJECTS LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
WESTWAYS PROJECTS LIMITED
REGISTERED NUMBER: 00837556

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

  

Current assets
  

Stocks
  
-
350,749

Debtors: amounts falling due within one year
 4 
687,542
279,172

Cash at bank and in hand
 5 
49,341
18,500

  
736,883
648,421

Creditors: amounts falling due within one year
 6 
(576,446)
(587,135)

Net current assets
  
 
 
160,437
 
 
61,286

Total assets less current liabilities
  
160,437
61,286

  

Net assets
  
160,437
61,286


Capital and reserves
  

Called up share capital 
  
6
6

Profit and loss account
  
160,431
61,280

  
160,437
61,286


Page 1

 
WESTWAYS PROJECTS LIMITED
REGISTERED NUMBER: 00837556
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




T J Cowley
Director

Date: 18 March 2025

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
WESTWAYS PROJECTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

The company is a private company limited by shares, which is incorporated under the Companies Act 2006 and registered in England and Wales (no. 00837556). The address of the registered office is 43 Canning Street, Liverpool, L8 7NN.
These financial statements present information about the company as an individual undertaking. The principal activity of the company is that of construction and sale of residential properties.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 3

 
WESTWAYS PROJECTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.


 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees




The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

Page 4

 
WESTWAYS PROJECTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Debtors

2024
2023
£
£


Other debtors
687,542
279,172

687,542
279,172



5.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
49,341
18,500

49,341
18,500



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Corporation tax
37,937
7,954

Other taxation and social security
2,000
2,000

Other creditors
535,009
575,681

Accruals and deferred income
1,500
1,500

576,446
587,135


The following liabilities were secured:




Details of security provided:

The bank loan is secured by a fixed and floating loan over the property and assets of the company.


7.


Related party transactions

Included in other debtors are amounts of £303,063 (2022 - £207,017) owed by T. Cowley and £181,853 (2022 - NIL) owed by P. Cowley. 
An amount of £69,385 (2023 - £75,885) was owed to Optionspace Limited. £455,093 (2023 - £454,993) was owed to Willow Management. Both are companies under common ownership.

Page 5

 
WESTWAYS PROJECTS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

8.


Controlling party

The company is under the control of N G Cowley.

 
Page 6