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Registered number: 06299519














WESTHEATH PROJECTS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

 
WESTHEATH PROJECTS LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
 
1 - 2
Notes to the Financial Statements
 
 
3 - 8


 
WESTHEATH PROJECTS LIMITED
REGISTERED NUMBER:06299519

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
40,995
57,483

Investments
 5 
1
-

  
40,996
57,483

Current assets
  

Debtors: amounts falling due within one year
 6 
4,012,541
2,093,705

Cash at bank and in hand
  
2,972
21,807

  
4,015,513
2,115,512

Current liabilities
  

Creditors: amounts falling due within one year
 7 
(249,478)
(511,458)

Net current assets
  
 
 
3,766,035
 
 
1,604,054

Total assets less current liabilities
  
3,807,031
1,661,537

Creditors: amounts falling due after more than one year
 8 
(15,956,804)
(13,063,147)

  

Net liabilities
  
(12,149,773)
(11,401,610)


Capital and reserves
  

Called up share capital 
 10 
8,565,281
8,565,281

Profit and loss account
  
(20,715,054)
(19,966,891)

  
(12,149,773)
(11,401,610)


Page 1

 
WESTHEATH PROJECTS LIMITED
REGISTERED NUMBER:06299519
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JULY 2024

The director considers 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 director acknowledges his 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 on 28 April 2025.




T H Shutes
Director

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
WESTHEATH PROJECTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Westheath Projects Limited is a private limited liability company incorporated in England and Wales with its registered office at 2nd Floor Connaught House, 1-3 Mount Street (Entrance via Davies Street) London W1K 3NB. Its trading address is at PO Box 2001, London, W1A 1FY.
The principal activity of the company during the year was the provision of general property services and property investment.
The Company's functional and presentational currency is £ sterling.

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 following principal accounting policies have been applied:

 
2.2

Going concern

As at 31 July 2024, the Company had accumulated a net deficit of £12,149,773 (2023 - £11,401,610). The director has prepared projected cashflow forecasts for the period ending 12 months from the date of his approval of these financial statements and based on these and the continued support of the Company's principal supporter, the director considers it appropriate to prepare the financial statements on a going concern basis.

 
2.3

Revenue

Turnover comprises revenue recognised by the company in respect of services supplied and recharged costs during the year and, exclusive of Value Added Tax .
Revenue for the provision of services is recognised in the period in which services are provided. Recharged costs are recognised in the same period in which the costs are incurred.

 
2.4

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation. 

Page 3

 
WESTHEATH PROJECTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight line method/ reducing balance basis.

Depreciation is provided on the following basis:

Plant & machinery
-
25%
reducing balance
Fixtures & fittings
-
25%
straight line
Computer equipment
-
33%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.6

Debtors

Short term debtors are measured at the transaction price, 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.

 
2.8

Creditors

Short term creditors are measured at the transaction price.

 
2.9

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 reporting date in the countries where the Company operates and generates income.


Page 4

 
WESTHEATH PROJECTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.10

Pensions

Defined contribution pension plan
The Company contributes to defined contribution plans for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.11

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.12

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2023 - 4).

Page 5

 
WESTHEATH PROJECTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

4.


Tangible fixed assets





Other fixed assets

£



Cost 


At 1 August 2023
135,214


Additions
1,650


Disposals
(31,035)



At 31 July 2024

105,829



Depreciation


At 1 August 2023
77,732


Charge for the year on owned assets
18,137


Disposals
(31,035)



At 31 July 2024

64,834



Net book value



At 31 July 2024
40,995



At 31 July 2023
57,482


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost 


Additions
1



At 31 July 2024
1




Page 6

 
WESTHEATH PROJECTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

6.


Debtors

2024
2023
£
£


Trade debtors
-
2,600

Other debtors
3,990,251
2,039,617

Called up share capital not paid
1
1

Prepayments and accrued income
22,289
51,487

4,012,541
2,093,705



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other loans
5,345
4,854

Trade creditors
229,071
408,796

Other taxation and social security
11,159
11,484

Other creditors
405
410

Accruals and deferred income
3,498
85,914

249,478
511,458



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other loans
15,931,427
13,032,426

Net obligations under finance leases and hire purchase contracts
25,377
30,721

15,956,804
13,063,147


Page 7

 
WESTHEATH PROJECTS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

9.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
5,345
4,854

Between 1-5 years
25,376
30,721

30,721
35,575


10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



1 Ordinary share of £1.00
1
1
8,565,280 Preference shares of £1.00 each
8,565,280
8,565,280

8,565,281

8,565,281


 
Page 8