IRIS Accounts Production v24.3.2.46 Westside Electrical Services Limited SC223115 Board of Directors Board of Directors 1.1.24 31.12.24 31.12.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC2231152023-12-31SC2231152024-12-31SC2231152024-01-012024-12-31SC2231152022-12-31SC2231152023-01-012023-12-31SC2231152023-12-31SC22311512024-01-012024-12-31SC223115ns15:Scotland2024-01-012024-12-31SC223115ns14:PoundSterling2024-01-012024-12-31SC223115ns10:Director12024-01-012024-12-31SC223115ns10:Director22024-01-012024-12-31SC223115ns10:PrivateLimitedCompanyLtd2024-01-012024-12-31SC223115ns10:SmallEntities2024-01-012024-12-31SC223115ns10:AuditExempt-NoAccountantsReport2024-01-012024-12-31SC223115ns10:SmallCompaniesRegimeForDirectorsReport2024-01-012024-12-31SC223115ns10:SmallCompaniesRegimeForAccounts2024-01-012024-12-31SC223115ns10:FullAccounts2024-01-012024-12-31SC22311512024-01-012024-12-31SC223115ns10:CompanySecretary12024-01-012024-12-31SC223115ns10:RegisteredOffice2024-01-012024-12-31SC223115ns5:CurrentFinancialInstruments2024-12-31SC223115ns5:CurrentFinancialInstruments2023-12-31SC223115ns5:ShareCapital2024-12-31SC223115ns5:ShareCapital2023-12-31SC223115ns5:RetainedEarningsAccumulatedLosses2024-12-31SC223115ns5:RetainedEarningsAccumulatedLosses2023-12-31SC223115ns5:NetGoodwill2024-01-012024-12-31SC223115ns5:IntangibleAssetsOtherThanGoodwill2024-01-012024-12-31SC223115ns5:LandBuildingsns5:OwnedOrFreeholdAssets2024-01-012024-12-31SC223115ns5:LongLeaseholdAssetsns5:LandBuildings2024-01-012024-12-31SC223115ns5:LeaseholdImprovements2024-01-012024-12-31SC223115ns5:PlantMachinery2024-01-012024-12-31SC223115ns5:FurnitureFittings2024-01-012024-12-31SC223115ns5:MotorVehicles2024-01-012024-12-31SC223115ns5:ComputerEquipment2024-01-012024-12-31SC223115ns5:NetGoodwill2023-12-31SC223115ns5:NetGoodwill2024-12-31SC223115ns5:NetGoodwill2023-12-31SC223115ns5:LandBuildings2023-12-31SC223115ns5:LongLeaseholdAssetsns5:LandBuildings2023-12-31SC223115ns5:LeaseholdImprovements2023-12-31SC223115ns5:PlantMachinery2023-12-31SC223115ns5:LandBuildings2024-01-012024-12-31SC223115ns5:LandBuildings2024-12-31SC223115ns5:LongLeaseholdAssetsns5:LandBuildings2024-12-31SC223115ns5:LeaseholdImprovements2024-12-31SC223115ns5:PlantMachinery2024-12-31SC223115ns5:LandBuildings2023-12-31SC223115ns5:LongLeaseholdAssetsns5:LandBuildings2023-12-31SC223115ns5:LeaseholdImprovements2023-12-31SC223115ns5:PlantMachinery2023-12-31SC223115ns5:FurnitureFittings2023-12-31SC223115ns5:MotorVehicles2023-12-31SC223115ns5:ComputerEquipment2023-12-31SC223115ns5:FurnitureFittings2024-12-31SC223115ns5:MotorVehicles2024-12-31SC223115ns5:ComputerEquipment2024-12-31SC223115ns5:FurnitureFittings2023-12-31SC223115ns5:MotorVehicles2023-12-31SC223115ns5:ComputerEquipment2023-12-31SC223115ns5:AdditionsToInvestments2024-12-31SC223115ns5:CostValuation2024-12-31SC223115ns5:WithinOneYearns5:CurrentFinancialInstruments2024-12-31SC223115ns5:WithinOneYearns5:CurrentFinancialInstruments2023-12-31
REGISTERED NUMBER: SC223115 (Scotland)















Unaudited Financial Statements for the Year Ended 31 December 2024

for

Westside Holdings Limited

Westside Holdings Limited (Registered number: SC223115)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Westside Holdings Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: B W Irvine
Mrs I J Irvine





SECRETARY: Mrs I J Irvine





REGISTERED OFFICE: Nyrhus
Effirth
Bixter
Shetland
ZE2 9LY





REGISTERED NUMBER: SC223115 (Scotland)





ACCOUNTANTS: Bon Accord Accountancy Limited
2 North Ness Business Park
Lerwick
Shetland
ZE1 0LZ

Westside Holdings Limited (Registered number: SC223115)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 619,252 669,468
Investments 6 579,680 -
1,198,932 669,468

CURRENT ASSETS
Debtors 7 62,122 132,291
Cash at bank 148,028 661,717
210,150 794,008
CREDITORS
Amounts falling due within one year 8 28,609 41,477
NET CURRENT ASSETS 181,541 752,531
TOTAL ASSETS LESS CURRENT LIABILITIES 1,380,473 1,421,999

PROVISIONS FOR LIABILITIES 9,724 20,779
NET ASSETS 1,370,749 1,401,220

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,370,649 1,401,120
SHAREHOLDERS' FUNDS 1,370,749 1,401,220

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

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

Westside Holdings Limited (Registered number: SC223115)

Balance Sheet - continued
31 December 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 21 March 2025 and were signed on its behalf by:




B W Irvine - Director



Mrs I J Irvine - Director


Westside Holdings Limited (Registered number: SC223115)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Westside Holdings Limited is a private company, limited by shares , registered in Scotland. 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.

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

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2002, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - is not depreciated
Improvements to property - is not depreciated
Tenants improvements - 10% on cost
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance
Office equipment - 25% on cost

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 balance sheet date.


Westside Holdings Limited (Registered number: SC223115)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
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 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2024
and 31 December 2024 15,000
AMORTISATION
At 1 January 2024
and 31 December 2024 15,000
NET BOOK VALUE
At 31 December 2024 -
At 31 December 2023 -

Westside Holdings Limited (Registered number: SC223115)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

5. TANGIBLE FIXED ASSETS
Improvements
Freehold to Tenants Plant and
property property improvements machinery
£    £    £    £   
COST
At 1 January 2024 500,889 45,954 51,180 46,091
Additions - - - 8,151
Disposals - - - (25,817 )
At 31 December 2024 500,889 45,954 51,180 28,425
DEPRECIATION
At 1 January 2024 - - 13,057 28,541
Charge for year - - 5,118 2,229
Eliminated on disposal - - - (17,693 )
At 31 December 2024 - - 18,175 13,077
NET BOOK VALUE
At 31 December 2024 500,889 45,954 33,005 15,348
At 31 December 2023 500,889 45,954 38,123 17,550

Fixtures
and Motor Office
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 January 2024 32,004 148,732 16,120 840,970
Additions - - - 8,151
Disposals - (91,075 ) (1,926 ) (118,818 )
At 31 December 2024 32,004 57,657 14,194 730,303
DEPRECIATION
At 1 January 2024 21,313 96,481 12,110 171,502
Charge for year 3,564 5,226 938 17,075
Eliminated on disposal - (59,336 ) (497 ) (77,526 )
At 31 December 2024 24,877 42,371 12,551 111,051
NET BOOK VALUE
At 31 December 2024 7,127 15,286 1,643 619,252
At 31 December 2023 10,691 52,251 4,010 669,468

Westside Holdings Limited (Registered number: SC223115)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
Additions 579,680
At 31 December 2024 579,680
NET BOOK VALUE
At 31 December 2024 579,680

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors 17,596 56,236
Other debtors 44,526 76,055
62,122 132,291

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 4,728 15,603
Taxation and social security 20,154 15,177
Other creditors 3,727 10,697
28,609 41,477