Acorah Software Products - Accounts Production 16.3.350 false true 30 September 2023 1 October 2022 false 1 October 2023 30 September 2024 30 September 2024 07010204 Mrs Valerie Charalambous Miss Melitsa Charalambous iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 07010204 2023-09-30 07010204 2024-09-30 07010204 2023-10-01 2024-09-30 07010204 frs-core:CurrentFinancialInstruments 2024-09-30 07010204 frs-core:Non-currentFinancialInstruments 2024-09-30 07010204 frs-core:FurnitureFittings 2024-09-30 07010204 frs-core:FurnitureFittings 2023-10-01 2024-09-30 07010204 frs-core:FurnitureFittings 2023-09-30 07010204 frs-core:ShareCapital 2024-09-30 07010204 frs-core:RetainedEarningsAccumulatedLosses 2024-09-30 07010204 frs-bus:PrivateLimitedCompanyLtd 2023-10-01 2024-09-30 07010204 frs-bus:FilletedAccounts 2023-10-01 2024-09-30 07010204 frs-bus:SmallEntities 2023-10-01 2024-09-30 07010204 frs-bus:AuditExempt-NoAccountantsReport 2023-10-01 2024-09-30 07010204 frs-bus:SmallCompaniesRegimeForAccounts 2023-10-01 2024-09-30 07010204 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-09-30 07010204 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2024-09-30 07010204 frs-core:CostValuation 2023-09-30 07010204 frs-core:RevaluationsIncreaseDecreaseInInvestments 2024-09-30 07010204 frs-core:CostValuation 2024-09-30 07010204 frs-core:ProvisionsForImpairmentInvestments 2023-09-30 07010204 frs-core:ProvisionsForImpairmentInvestments 2024-09-30 07010204 frs-bus:Director1 2023-10-01 2024-09-30 07010204 frs-bus:Director2 2023-10-01 2024-09-30 07010204 frs-core:CurrentFinancialInstruments 1 2024-09-30 07010204 frs-countries:EnglandWales 2023-10-01 2024-09-30 07010204 2022-09-30 07010204 2023-09-30 07010204 2022-10-01 2023-09-30 07010204 frs-core:CurrentFinancialInstruments 2023-09-30 07010204 frs-core:Non-currentFinancialInstruments 2023-09-30 07010204 frs-core:ShareCapital 2023-09-30 07010204 frs-core:RetainedEarningsAccumulatedLosses 2023-09-30 07010204 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2023-09-30 07010204 frs-core:CurrentFinancialInstruments 1 2023-09-30
Registered number: 07010204
Westfen Limited
Unaudited Financial Statements
For The Year Ended 30 September 2024
Mostons
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 07010204
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 156 208
Investments 5 5,782,771 5,802,712
5,782,927 5,802,920
CURRENT ASSETS
Debtors 6 77,529 82,408
Cash at bank and in hand 554,239 380,630
631,768 463,038
Creditors: Amounts Falling Due Within One Year 7 (135,376 ) (132,721 )
NET CURRENT ASSETS (LIABILITIES) 496,392 330,317
TOTAL ASSETS LESS CURRENT LIABILITIES 6,279,319 6,133,237
Creditors: Amounts Falling Due After More Than One Year 8 (3,451,402 ) (3,313,846 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (356,456 ) (351,471 )
NET ASSETS 2,471,461 2,467,920
CAPITAL AND RESERVES
Called up share capital 9 100 100
Fair value reserve 10 2,188,315 2,163,389
Profit and Loss Account 283,046 304,431
SHAREHOLDERS' FUNDS 2,471,461 2,467,920
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For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Valerie Charalambous
Director
09/04/2025
The notes on pages 3 to 5 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Westfen Limited is a private company, limited by shares, incorporated in England & Wales, registered number 07010204 . The registered office is 2 Esther Close, Winchmore Hill, London, N21 1AW.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 20% on reducing balance
2.4. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
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Page 4
4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 October 2023 1,424
As at 30 September 2024 1,424
Depreciation
As at 1 October 2023 1,216
Provided during the period 52
As at 30 September 2024 1,268
Net Book Value
As at 30 September 2024 156
As at 1 October 2023 208
5. Investments
Other
£
Cost
As at 1 October 2023 5,802,712
Revaluations (19,941 )
As at 30 September 2024 5,782,771
Provision
As at 1 October 2023 -
As at 30 September 2024 -
Net Book Value
As at 30 September 2024 5,782,771
As at 1 October 2023 5,802,712
6. Debtors
2024 2023
£ £
Due within one year
Trade debtors 54,152 76,027
Prepayments and accrued income 6,868 6,381
Other debtors (1) 16,500 -
Other taxes and social security 9 -
77,529 82,408
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 706 4,971
Corporation tax 12 12
VAT 7,650 6,854
Rent deposits held 34,038 29,517
Accruals and deferred income 84,596 85,168
Directors' loan accounts 8,374 6,199
135,376 132,721
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Amounts owed to related parties 3,451,402 3,313,846
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
10. Reserves
Fair Value Reserve
£
As at 1 October 2023 2,163,389
Movements in non-distributable reserve 24,926
As at 30 September 2024 2,188,315
11. Related Party Transactions
As at 30th September 2024, the company owed £3,451,402 (2023: £3,313,846) to Chaselot Ltd, a related party by virtue of common ownership.
Interest is charged at 4.336%.   Accrued interest of £137,556 was recognised in the year ended 30th September2024 (2023: £137,564).
12. Audit Information
The auditor's report on the accounts of Westfen Limited for the year ended 30 September 2024 was unqualified.
The auditor's report was signed by Statutory Auditor.
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