IRIS Accounts Production v25.1.0.734 SC780705 director 1.9.23 31.8.24 31.8.24 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhSC7807052023-08-31SC7807052024-08-31SC7807052023-09-012024-08-31SC7807052023-08-31SC780705ns15:Scotland2023-09-012024-08-31SC780705ns14:PoundSterling2023-09-012024-08-31SC780705ns10:Director12023-09-012024-08-31SC780705ns10:PrivateLimitedCompanyLtd2023-09-012024-08-31SC780705ns10:SmallEntities2023-09-012024-08-31SC780705ns10:AuditExempt-NoAccountantsReport2023-09-012024-08-31SC780705ns10:SmallCompaniesRegimeForDirectorsReport2023-09-012024-08-31SC780705ns10:SmallCompaniesRegimeForAccounts2023-09-012024-08-31SC780705ns10:FullAccounts2023-09-012024-08-31SC780705ns10:OrdinaryShareClass12023-09-012024-08-31SC780705ns10:RegisteredOffice2023-09-012024-08-31SC780705ns5:CurrentFinancialInstruments2024-08-31SC780705ns5:Non-currentFinancialInstruments2024-08-31SC780705ns5:ShareCapital2024-08-31SC780705ns5:RetainedEarningsAccumulatedLosses2024-08-31SC780705ns5:WithinOneYearns5:CurrentFinancialInstruments2024-08-31SC780705ns5:Non-currentFinancialInstrumentsns5:MoreThanFiveYears2024-08-31SC780705ns10:OrdinaryShareClass12024-08-31
REGISTERED NUMBER: SC780705 (Scotland)












Financial Statements

for the Year Ended 31 August 2024

for

Westerlea Holdings Ltd

Westerlea Holdings Ltd (Registered number: SC780705)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Westerlea Holdings Ltd

Company Information
for the Year Ended 31 August 2024







DIRECTOR: Ms S Cooke





REGISTERED OFFICE: 35 Victoria Road
Lenzie
Glasgow
G66 5AR





REGISTERED NUMBER: SC780705 (Scotland)





ACCOUNTANTS: O'Haras Chartered Accountants
Radleigh House
1 Golf Road
Clarkston
Glasgow
G76 7HU

Westerlea Holdings Ltd (Registered number: SC780705)

Balance Sheet
31 August 2024

Notes £    £   
FIXED ASSETS
Investment property 3 1,000,000

CURRENT ASSETS
Debtors 4 781
Cash at bank and in hand 3,089
3,870
CREDITORS
Amounts falling due within one year 5 257,590
NET CURRENT LIABILITIES (253,720 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

746,280

CREDITORS
Amounts falling due after more than one year 6 750,000
NET LIABILITIES (3,720 )

CAPITAL AND RESERVES
Called up share capital 7 100
Retained earnings (3,820 )
SHAREHOLDERS' FUNDS (3,720 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Westerlea Holdings Ltd (Registered number: SC780705)

Balance Sheet - continued
31 August 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 director and authorised for issue on 15 May 2025 and were signed by:





Ms S Cooke - Director


Westerlea Holdings Ltd (Registered number: SC780705)

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

1. 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.

Going concern
The directors are satisfied that the Company will have access to sufficient funds to ensure that all liabilities will be met as they fall due over a period of at least 12 months from the approval date of these financial statements. Consequently, the directors consider it appropriate to prepare the financial statements on a going concern basis.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

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.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Impairment of fixed assets
At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 .

Westerlea Holdings Ltd (Registered number: SC780705)

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

3. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Additions 1,000,000
At 31 August 2024 1,000,000
NET BOOK VALUE
At 31 August 2024 1,000,000

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Other debtors 781

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
£   
Trade creditors 19,600
Other creditors 237,990
257,590

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
£   
Bank loans 750,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Mortgage - Aldermore 750,000

7. CALLED UP SHARE CAPITAL

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