9 12 Westwood (South West) Ltd 08992086 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is kitchen, bathroom and floor fitting. Digita Accounts Production Advanced 6.30.9574.0 true 08992086 2023-04-01 2024-03-31 08992086 2024-03-31 08992086 2 2024-03-31 08992086 core:CurrentFinancialInstruments 2024-03-31 08992086 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 08992086 core:Non-currentFinancialInstruments 2024-03-31 08992086 core:Non-currentFinancialInstruments core:AfterOneYear 2024-03-31 08992086 core:FurnitureFittings 2024-03-31 08992086 core:MotorVehicles 2024-03-31 08992086 core:PlantMachinery 2024-03-31 08992086 bus:SmallEntities 2023-04-01 2024-03-31 08992086 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 08992086 bus:FilletedAccounts 2023-04-01 2024-03-31 08992086 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 08992086 bus:RegisteredOffice 2023-04-01 2024-03-31 08992086 bus:Director1 2023-04-01 2024-03-31 08992086 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 08992086 core:FurnitureFittings 2023-04-01 2024-03-31 08992086 core:MotorVehicles 2023-04-01 2024-03-31 08992086 core:PlantMachinery 2023-04-01 2024-03-31 08992086 countries:UnitedKingdom 2023-04-01 2024-03-31 08992086 2023-03-31 08992086 core:FurnitureFittings 2023-03-31 08992086 core:MotorVehicles 2023-03-31 08992086 core:PlantMachinery 2023-03-31 08992086 2022-04-01 2023-03-31 08992086 2023-03-31 08992086 2 2023-03-31 08992086 core:CurrentFinancialInstruments 2023-03-31 08992086 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 08992086 core:Non-currentFinancialInstruments 2023-03-31 08992086 core:Non-currentFinancialInstruments core:AfterOneYear 2023-03-31 08992086 core:FurnitureFittings 2023-03-31 08992086 core:MotorVehicles 2023-03-31 08992086 core:PlantMachinery 2023-03-31 xbrli:pure iso4217:GBP

Registration number: 08992086

Westwood (South West) Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Westwood (South West) Ltd

Contents

Statement of Financial Position

1

Notes to the Unaudited Financial Statements

2 to 8

 

Westwood (South West) Ltd

(Registration number: 08992086)
Statement of Financial Position as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

57,193

74,912

Current assets

 

Stocks

5

10,000

10,000

Debtors

6

5,873

5,801

Cash at bank and in hand

 

27,380

54,027

 

43,253

69,828

Creditors: Amounts falling due within one year

7

(40,994)

(45,978)

Net current assets

 

2,259

23,850

Total assets less current liabilities

 

59,452

98,762

Creditors: Amounts falling due after more than one year

7

(26,425)

(36,425)

Provisions for liabilities

(14,233)

(14,233)

Net assets

 

18,794

48,104

Capital and reserves

 

Called up share capital

200

200

Profit and loss account

18,594

47,904

Shareholders' funds

 

18,794

48,104

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Statement of Comprehensive Income.

Approved and authorised by the director on 28 May 2025
 


Mr Alex Emuss
Director

 

Westwood (South West) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
7C Cranmere Road
Okehampton
Devon
EX20 1UE

Principal activity

The principal activity of the company is kitchen, bathroom and floor fitting.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the entity.

 

Westwood (South West) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Westwood (South West) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

 

Westwood (South West) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Costs include all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. .

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

 

Westwood (South West) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the statement of comprehensive income over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 9 (2023 - 12).

 

Westwood (South West) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2023

7,646

14,870

80,993

103,509

At 31 March 2024

7,646

14,870

80,993

103,509

Depreciation

At 1 April 2023

4,915

7,469

16,213

28,597

Charge for the year

411

1,111

16,197

17,719

At 31 March 2024

5,326

8,580

32,410

46,316

Carrying amount

At 31 March 2024

2,320

6,290

48,583

57,193

At 31 March 2023

2,731

7,401

64,780

74,912

5

Stocks

2024
£

2023
£

Finished goods and goods for resale

10,000

10,000

6

Debtors

Note

2024
£

2023
£

Other debtors

 

2,255

2,255

Prepayments

 

879

1,153

Income tax asset

2,739

2,393

 

5,873

5,801

 

Westwood (South West) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

10,000

-

Trade creditors

 

1,080

-

Taxation and social security

 

22,993

12,088

Accruals and deferred income

 

4,165

6,038

Other creditors

 

2,756

27,852

 

40,994

45,978

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

26,425

36,425

8

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

26,425

36,425

Current loans and borrowings

2024
£

2023
£

Other borrowings

10,000

-