Caseware UK (AP4) 2023.0.135 2023.0.135 2024-12-312024-12-312025-05-162024-01-01falsegeneral construction and civil engineering3932truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 01305337 2024-01-01 2024-12-31 01305337 2023-01-01 2023-12-31 01305337 2024-12-31 01305337 2023-12-31 01305337 c:Director2 2024-01-01 2024-12-31 01305337 d:PlantMachinery 2024-01-01 2024-12-31 01305337 d:PlantMachinery 2024-12-31 01305337 d:PlantMachinery 2023-12-31 01305337 d:PlantMachinery d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 01305337 d:PlantMachinery d:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 01305337 d:MotorVehicles 2024-01-01 2024-12-31 01305337 d:MotorVehicles 2024-12-31 01305337 d:MotorVehicles 2023-12-31 01305337 d:MotorVehicles d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 01305337 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 01305337 d:FurnitureFittings 2024-01-01 2024-12-31 01305337 d:FurnitureFittings 2024-12-31 01305337 d:FurnitureFittings 2023-12-31 01305337 d:FurnitureFittings d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 01305337 d:FurnitureFittings d:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 01305337 d:OwnedOrFreeholdAssets 2024-01-01 2024-12-31 01305337 d:LeasedAssetsHeldAsLessee 2024-01-01 2024-12-31 01305337 d:CurrentFinancialInstruments 2024-12-31 01305337 d:CurrentFinancialInstruments 2023-12-31 01305337 d:Non-currentFinancialInstruments 2024-12-31 01305337 d:Non-currentFinancialInstruments 2023-12-31 01305337 d:CurrentFinancialInstruments d:WithinOneYear 2024-12-31 01305337 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 01305337 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-12-31 01305337 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 01305337 c:FRS102 2024-01-01 2024-12-31 01305337 c:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 01305337 c:FullAccounts 2024-01-01 2024-12-31 01305337 c:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 01305337 2 2024-01-01 2024-12-31 01305337 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2024-12-31 01305337 d:MotorVehicles d:LeasedAssetsHeldAsLessee 2023-12-31 01305337 d:LeasedAssetsHeldAsLessee 2024-12-31 01305337 d:LeasedAssetsHeldAsLessee 2023-12-31 01305337 e:PoundSterling 2024-01-01 2024-12-31 iso4217:GBP xbrli:pure

Registered number: 01305337









WESTMADE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

 
WESTMADE LIMITED
REGISTERED NUMBER: 01305337

BALANCE SHEET
AS AT 31 DECEMBER 2024

2024
2023
Note
£
£

  

Fixed assets
  

Tangible assets
 5 
167,250
211,766

  
167,250
211,766

Current assets
  

Stocks
 6 
410,000
885,000

Debtors: amounts falling due within one year
 7 
2,177,373
1,586,052

Cash at bank and in hand
 8 
647,006
447,403

  
3,234,379
2,918,455

Creditors: amounts falling due within one year
 9 
(2,234,454)
(1,980,428)

Net current assets
  
 
 
999,925
 
 
938,027

Total assets less current liabilities
  
1,167,175
1,149,793

  

Creditors: amounts falling due after more than one year
 10 
(90,319)
(137,145)

  
1,076,856
1,012,648

  

  

Net assets
  
1,076,856
1,012,648


Capital and reserves
  

Called up share capital 
  
200
200

Profit and loss account
  
1,076,656
1,012,448

  
1,076,856
1,012,648


Page 1

 
WESTMADE LIMITED
REGISTERED NUMBER: 01305337
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024

The directors consider 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 directors acknowledge their 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 income and retained earnings 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 16 May 2025.





................................................
Allen Gilbert-Stroud
Director


The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
WESTMADE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

1.


General information

Westmade Limited is a private company limited by shares, incorporated in England and Wales. The principal activity of the Company is that of general construction and civil engineering. 

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

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Page 3

 
WESTMADE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

 
2.4

Interest income

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

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

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

 
2.7

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan 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 Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.8

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 balance sheet date in the countries where the Company operates and generates income.

 
2.9

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 4

 
WESTMADE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)


2.9
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Plant and machinery
-
15% reducing balance
Motor vehicles
-
25% reducing balance
Fixture, fittings and equipment
-
15% reducing balance

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.

 
2.10

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.11

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.12

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. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.13

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 39 (2023 - 32).

Page 5

 
WESTMADE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

4.


Dividends

2024
2023
£
£


Dividends on ordinary A shares
374,098
352,073


Dividends on ordinary B shares
26,000
55,000

400,098
407,073

Page 6

 
WESTMADE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

5.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures, fittings and equipment
Total

£
£
£
£



Cost or valuation


At 1 January 2024
2,195
342,506
102,692
447,393


Additions
-
21,200
1,007
22,207


Disposals
-
(34,410)
-
(34,410)



At 31 December 2024

2,195
329,296
103,699
435,190



Depreciation


At 1 January 2024
1,640
159,037
74,950
235,627


Charge for the year on owned assets
83
3,933
4,313
8,329


Charge for the year on financed assets
-
43,519
-
43,519


Disposals
-
(19,535)
-
(19,535)



At 31 December 2024

1,723
186,954
79,263
267,940



Net book value



At 31 December 2024
472
142,342
24,436
167,250



At 31 December 2023
555
183,469
27,742
211,766

The net book value of assets held under finance leases or hire purchase contracts, included above, are as follows:


2024
2023
£
£



Motor vehicles
130,553
167,747

130,553
167,747

Page 7

 
WESTMADE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

6.


Stocks

2024
2023
£
£

Work in progress
410,000
885,000

410,000
885,000



7.


Debtors

2024
2023
£
£


Trade debtors
1,775,506
1,295,051

Amounts owed by related parties
178,921
142,286

Other debtors
4,639
137,487

Prepayments and accrued income
218,307
11,228

2,177,373
1,586,052



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
647,006
447,403

647,006
447,403


Page 8

 
WESTMADE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
10,098
10,649

Trade creditors
550,887
864,565

Corporation tax
179,590
126,318

Other taxation and social security
1,047,721
823,874

Obligations under finance lease and hire purchase contracts
57,656
59,569

Other creditors
45,077
74,098

Accruals and deferred income
343,425
21,355

2,234,454
1,980,428


The following liabilities were secured:

2024
2023
£
£



Hire purchase
57,656
59,569

57,656
59,569

Details of security provided:

Hire purchase is secured against the asset.

Page 9

 
WESTMADE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

10.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
5,567
15,134

Net obligations under finance leases and hire purchase contracts
84,752
122,011

90,319
137,145


The following liabilities were secured:

2024
2023
£
£



Hire purchase
84,752
122,011

84,752
122,011

Details of security provided:

Hire purchase is secured against the asset.


11.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
10,098
10,649


Amounts falling due 2-5 years

Bank loans
5,567
15,134


15,665
25,783


Page 10

 
WESTMADE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

12.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2024
2023
£
£


Within one year
57,656
59,569

Between 1-5 years
84,752
122,011

142,408
181,580


13.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £87,809 (2023 - £201,471). At the balance sheet date £2,539 (2023 - £6,603) is included in other debtors.


14.


Controlling party

There is no overall controlling party.

 
Page 11