IRIS Accounts Production v25.1.0.734 00431907 Board of Directors 1.1.24 31.12.24 31.12.24 0 0 false true false false true false Fair value model Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh004319072023-12-31004319072024-12-31004319072024-01-012024-12-31004319072022-12-31004319072023-01-012023-12-31004319072023-12-3100431907ns14:PoundSterling2024-01-012024-12-3100431907ns10:Director12024-01-012024-12-3100431907ns10:PrivateLimitedCompanyLtd2024-01-012024-12-3100431907ns10:SmallEntities2024-01-012024-12-3100431907ns10:AuditExempt-NoAccountantsReport2024-01-012024-12-3100431907ns10:SmallCompaniesRegimeForDirectorsReport2024-01-012024-12-3100431907ns10:SmallCompaniesRegimeForAccounts2024-01-012024-12-3100431907ns10:FullAccounts2024-01-012024-12-3100431907ns10:OrdinaryShareClass12024-01-012024-12-3100431907ns10:Director22024-01-012024-12-3100431907ns10:CompanySecretary12024-01-012024-12-3100431907ns10:RegisteredOffice2024-01-012024-12-3100431907ns5:CurrentFinancialInstruments2024-12-3100431907ns5:CurrentFinancialInstruments2023-12-3100431907ns5:Non-currentFinancialInstruments2024-12-3100431907ns5:Non-currentFinancialInstruments2023-12-3100431907ns5:ShareCapital2024-12-3100431907ns5:ShareCapital2023-12-3100431907ns5:RetainedEarningsAccumulatedLosses2024-12-3100431907ns5:RetainedEarningsAccumulatedLosses2023-12-3100431907ns5:FurnitureFittings2024-01-012024-12-3100431907ns5:ComputerEquipment2024-01-012024-12-3100431907ns5:FurnitureFittings2023-12-3100431907ns5:ComputerEquipment2023-12-3100431907ns5:FurnitureFittings2024-12-3100431907ns5:ComputerEquipment2024-12-3100431907ns5:FurnitureFittings2023-12-3100431907ns5:ComputerEquipment2023-12-3100431907ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2024-12-3100431907ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-12-3100431907ns5:DeferredTaxation2023-12-3100431907ns5:DeferredTaxation2024-12-3100431907ns10:OrdinaryShareClass12024-12-3100431907ns5:RetainedEarningsAccumulatedLosses2023-12-3100431907ns5:RetainedEarningsAccumulatedLosses2024-01-012024-12-31
REGISTERED NUMBER: 00431907







FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

WESTLAKES(HARDWARE)LIMITED

WESTLAKES(HARDWARE)LIMITED (REGISTERED NUMBER: 00431907)






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


WESTLAKES(HARDWARE)LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: R F Westlake
Mrs L E Cook





SECRETARY: Mrs L E Cook





REGISTERED OFFICE: 1 Orchardmede
Winchmore Hill
London
N21 2DL





REGISTERED NUMBER: 00431907





ACCOUNTANTS: BENEDICTS
873 High Road
North Finchley
London
N12 8QA

WESTLAKES(HARDWARE)LIMITED (REGISTERED NUMBER: 00431907)

BALANCE SHEET
31 DECEMBER 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investment property 5 800,000 800,000
800,000 800,000

CURRENT ASSETS
Debtors 6 1,282 -
Cash at bank 67,752 68,375
69,034 68,375
CREDITORS
Amounts falling due within one year 7 42,125 34,720
NET CURRENT ASSETS 26,909 33,655
TOTAL ASSETS LESS CURRENT
LIABILITIES

826,909

833,655

CREDITORS
Amounts falling due after more than one
year

8

(5,379

)

(9,344

)

PROVISIONS FOR LIABILITIES 9 (182,197 ) (182,197 )
NET ASSETS 639,333 642,114

CAPITAL AND RESERVES
Called up share capital 10 200 200
Retained earnings 11 639,133 641,914
SHAREHOLDERS' FUNDS 639,333 642,114

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.

WESTLAKES(HARDWARE)LIMITED (REGISTERED NUMBER: 00431907)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 2 May 2025 and were signed on its behalf by:





Mrs L E Cook - Director


WESTLAKES(HARDWARE)LIMITED (REGISTERED NUMBER: 00431907)

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

1. STATUTORY INFORMATION

Westlakes(Hardware)Limited is a private company, limited by shares , registered in Not specified/Other. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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 as modified by the revaluation of certain assets.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on cost
Computer equipment - 33% on cost

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.

Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


WESTLAKES(HARDWARE)LIMITED (REGISTERED NUMBER: 00431907)

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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2024
and 31 December 2024 9,570 2,138 11,708
DEPRECIATION
At 1 January 2024
and 31 December 2024 9,570 2,138 11,708
NET BOOK VALUE
At 31 December 2024 - - -
At 31 December 2023 - - -

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2024
and 31 December 2024 800,000
NET BOOK VALUE
At 31 December 2024 800,000
At 31 December 2023 800,000

WESTLAKES(HARDWARE)LIMITED (REGISTERED NUMBER: 00431907)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

5. INVESTMENT PROPERTY - continued

Fair value at 31 December 2024 is represented by:
£   
Valuation in 2006 18,810
Valuation in 2018 574,983
Valuation in 2021 135,000
Cost 71,207
800,000

If had not been revalued would have been included at the following historical cost:

2024 2023
£    £   
Cost 71,207 71,207

In the opinion of the directors, the fair value of the investment properties as at 31 December 2024 is not significantly different to that stated above.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 1,282 -

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 4,259 4,259
Taxation 19,789 12,374
Other creditors 15,000 15,350
Accrual 3,077 2,737
42,125 34,720

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loan 5,379 9,344

9. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 182,197 182,197

WESTLAKES(HARDWARE)LIMITED (REGISTERED NUMBER: 00431907)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024

9. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2024 182,197
Balance at 31 December 2024 182,197

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
200 Ordinary £1 200 200

11. RESERVES
Retained
earnings
£   

At 1 January 2024 641,914
Profit for the year 69,039
Dividends (71,820 )
At 31 December 2024 639,133

Revaluation gain of £610,708 is not available for distribution.of dividends.
The reserves available for future distributions amounts to £28,425 (2023: £31,206).