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REGISTERED NUMBER: 01375073 (England and Wales)















WESTMIDVENT LIMITED

Unaudited Financial Statements for the Year Ended 31 July 2024






WESTMIDVENT LIMITED (REGISTERED NUMBER: 01375073)






Contents of the Financial Statements
for the year ended 31 July 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 6


WESTMIDVENT LIMITED

Company Information
for the year ended 31 July 2024







Directors: Mr S Jones
Mr T Jones



Registered office: Zephyr House
Mucklow Hill
Halesowen
West Midlands
B62 8DN



Registered number: 01375073 (England and Wales)



Bankers: Barclays Bank plc
PO Box 9
47 High Street
Dudley
West Midlands
DY1 1PP

WESTMIDVENT LIMITED (REGISTERED NUMBER: 01375073)

Statement of Financial Position
31 July 2024

2024 2023
Notes £ £ £ £
Fixed assets
Tangible assets 4 300,648 310,974

Current assets
Stocks 209,000 190,000
Debtors 5 164,272 123,603
Cash at bank and in hand 50,916 69,260
424,188 382,863
Creditors
Amounts falling due within one year 6 399,895 253,341
Net current assets 24,293 129,522
Total assets less current liabilities 324,941 440,496

Creditors
Amounts falling due after more than one year 7 27,779 35,779
Net assets 297,162 404,717

Capital and reserves
Called up share capital 9 100 100
Revaluation reserve 10 231,740 236,145
Retained earnings 65,322 168,472
Shareholders' funds 297,162 404,717

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

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 7 March 2025 and were signed on its behalf by:





Mr T Jones - Director


WESTMIDVENT LIMITED (REGISTERED NUMBER: 01375073)

Notes to the Financial Statements
for the year ended 31 July 2024

1. Statutory information

Westmidvent Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 historical cost convention as modified by the revaluation of certain assets.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Fixed assets
All fixed assets are initially recorded at cost.

Depreciation
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Freehold Property -2% straight line
Motor vehicles-25% reducing balance
Equipment-10% reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.

WESTMIDVENT LIMITED (REGISTERED NUMBER: 01375073)

Notes to the Financial Statements - continued
for the year ended 31 July 2024

2. Accounting policies - continued

Finance lease agreements
Where the company enters into a lease which entails taking substantially all the risks and rewards of ownership of an asset, the lease is treated as a finance lease. The asset is recorded in the balance sheet as a tangible fixed asset and is depreciated in accordance with the above depreciation policies. Future instalments under such leases, net of finance charges, are included within creditors. Rentals payable are apportioned between the finance element, which is charged to the profit and loss account on a straight line basis, and the capital element which reduces the outstanding obligation for future instalments.

Pension costs
The pension costs charged against profits represent the amount of the contributions payable to the scheme in respect of the accounting period.

Debtors and creditors receivable / payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3. Employees and directors

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

4. Tangible fixed assets
Freehold Motor
property vehicles Equipment Totals
£ £ £ £
Cost or valuation
At 1 August 2023 316,325 78,352 72,477 467,154
Additions - - 1,240 1,240
At 31 July 2024 316,325 78,352 73,717 468,394
Depreciation
At 1 August 2023 32,083 61,931 62,166 156,180
Charge for year 6,327 4,105 1,134 11,566
At 31 July 2024 38,410 66,036 63,300 167,746
Net book value
At 31 July 2024 277,915 12,316 10,417 300,648
At 31 July 2023 284,242 16,421 10,311 310,974

The freehold properties were valued by the directors on the basis of an open market valuation.

Cost or valuation at 31 July 2024 is represented by:

Freehold Motor
property vehicles Equipment Totals
£ £ £ £
Valuation in 2019 220,291 - - 220,291
Cost 96,034 78,352 73,717 248,103
316,325 78,352 73,717 468,394

The net book value of plant, machinery and vehicles includes an amount of £11,889 (2023 - £15,851) in respect of assets held under finance leases and hire purchase contracts.

WESTMIDVENT LIMITED (REGISTERED NUMBER: 01375073)

Notes to the Financial Statements - continued
for the year ended 31 July 2024

5. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 162,818 122,280
Prepayments 1,454 1,323
164,272 123,603

6. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans and overdrafts 5,556 5,556
Hire purchase contracts 2,445 5,528
Trade creditors 239,448 91,096
Social security and other taxes 2,098 2,437
VAT 7,827 6,184
Other creditors 100 100
Directors' loan accounts 137,536 137,536
Accruals and deferred income 4,885 4,904
399,895 253,341

7. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans - 1-2 years 5,556 5,556
Bank loans - 2-5 years 16,667 16,667
Bank loans more 5 yr by instal 5,556 11,111
Hire purchase contracts - 2,445
27,779 35,779

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 5,556 11,111

8. Secured debts

The following secured debts are included within creditors:

2024 2023
£ £
Hire purchase contracts 2,445 7,973

Hire purchase liabilities are secured over the assets to which they relate.

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
100 Ordinary £1 100 100

WESTMIDVENT LIMITED (REGISTERED NUMBER: 01375073)

Notes to the Financial Statements - continued
for the year ended 31 July 2024

10. Reserves
Revaluation
reserve
£
At 1 August 2023 236,145
Transfer to reserves (4,405 )

At 31 July 2024 231,740

11. Ultimate controlling party

The Ultimate controlling parties are Mr T P Jones and Mr S M Jones equally.