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Company registration number:
15020603
(England and Wales)
Westwood Park Estates Limited
Unaudited filleted financial statements
for the period from 21 July 2023 to
31 December 2024
Westwood Park Estates Limited
Contents
Directors and other information
Accountants report
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Westwood Park Estates Limited
Directors and other information
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Director |
Mr R P Carroll |
(Appointed 21 July 2023) |
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Secretary |
S L Robertson |
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Company number |
15020603 |
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Registered office |
4 & 5 The Cedars |
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Apex 12, Old Ipswich Road |
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Colchester |
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Essex |
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CO7 7QR |
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Business address |
77 Maldon Road |
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Colchester |
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Essex |
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CO3 3AN |
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Accountants |
Griffin Chapman |
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4 & 5 The Cedars, Apex 12 |
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Old Ipswich Road |
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Colchester |
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Essex |
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CO7 7QR |
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Bankers |
Metro Bank |
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One Southampton Row |
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London |
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WC1B 5HA |
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Westwood Park Estates Limited
Chartered accountants report to the director on the preparation of the
unaudited statutory financial statements of Westwood Park Estates Limited
Period ended 31 December 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Westwood Park Estates Limited for the period ended 31 December 2024 which comprise the statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.
This report is made solely to the director of Westwood Park Estates Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Westwood Park Estates Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Westwood Park Estates Limited and its director as a body for our work or for this report.
It is your duty to ensure that Westwood Park Estates Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Westwood Park Estates Limited. You consider that Westwood Park Estates Limited is exempt from the statutory audit requirement for the period.
We have not been instructed to carry out an audit or a review of the financial statements of Westwood Park Estates Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Griffin Chapman
Chartered Accountants
4 & 5 The Cedars, Apex 12
Old Ipswich Road
Colchester
Essex
CO7 7QR
9 April 2025
Westwood Park Estates Limited
Statement of financial position
31 December 2024
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31/12/24 |
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Note |
£ |
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£ |
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Current assets |
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Stocks |
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57,691 |
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Debtors |
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5 |
3,404 |
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Cash at bank and in hand |
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609 |
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_______ |
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61,704 |
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Creditors: amounts falling due |
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within one year |
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6 |
(
63,814) |
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_______ |
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Net current liabilities |
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(
2,110) |
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_______ |
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Total assets less current liabilities |
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(
2,110) |
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_______ |
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Net liabilities |
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(
2,110) |
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_______ |
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Capital and reserves |
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Called up share capital |
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7 |
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2 |
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Profit and loss account |
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(
2,112) |
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_______ |
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Shareholders deficit |
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(
2,110) |
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_______ |
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For the period ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
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The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
09 April 2025
, and are signed on behalf of the board by:
Mr R P Carroll
Director
Company registration number:
15020603
Westwood Park Estates Limited
Statement of changes in equity
Period ended 31 December 2024
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Called up share capital |
Profit and loss account |
Total |
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£ |
£ |
£ |
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At 21 July 2023 |
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- |
- |
- |
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Loss for the period |
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(
2,112) |
(
2,112) |
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_______ |
_______ |
_______ |
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Total comprehensive income for the period |
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- |
(
2,112) |
(
2,112) |
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Issue of shares |
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2 |
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2 |
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_______ |
_______ |
_______ |
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Total investments by and distributions to owners |
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2 |
- |
2 |
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_______ |
_______ |
_______ |
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At 31 December 2024 |
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2 |
(
2,112) |
(
2,110) |
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_______ |
_______ |
_______ |
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Westwood Park Estates Limited
Notes to the financial statements
Period ended 31 December 2024
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 4 & 5 The Cedars, Apex 12, Old Ipswich Road, Colchester, Essex, CO7 7QR.
The principal activity of the company is that of property development.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
At the balance sheet date the company has net liabilities but is being supported by the owners on the assumption that planning permission will be achieved. The company is therefore considered a going concern and the accounts have been prepared on this basis. If planning permission is not achieved then it may not be a going concern and assets would need to be revalued to their recoverable amounts.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company 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 or 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.
4.
Employee numbers
The average number of persons employed by the company during the period amounted to Nil.
5.
Debtors
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31/12/24 |
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£ |
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Other debtors |
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3,404 |
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_______ |
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6.
Creditors: amounts falling due within one year
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31/12/24 |
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£ |
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Trade creditors |
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34 |
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Other creditors |
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63,780 |
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_______ |
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63,814 |
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_______ |
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7.
Called up share capital
Issued, called up and fully paid
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31/12/24 |
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No |
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£ |
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Ordinary shares of £
1.00 each |
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2 |
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2 |
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_______ |
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_______ |
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Share movements
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No |
£ |
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Ordinary : |
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At 21 July 2023 |
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- |
- |
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Issue of shares |
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2 |
2 |
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_______ |
_______ |
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At 31 December 2024 |
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2 |
2 |
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_______ |
_______ |
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One ordinary share was issued at par value on the incorporation of the company and an additional ordinary share was issued at par value on 7 March 2024.
8.
Related party transactions
There is a loan from a company which is controlled by one of the company's shareholders, totalling £
61,931
at the balance sheet date, this is included in creditors.