Westhouse Development Limited 01321813 false 2024-02-01 2025-01-31 2025-01-31 The principal activity of the company is that of management of freehold property. This remains unchanged since last year Digita Accounts Production Advanced 6.30.9574.0 true 01321813 2024-02-01 2025-01-31 01321813 2025-01-31 01321813 bus:OrdinaryShareClass1 2025-01-31 01321813 core:OtherReservesSubtotal 2025-01-31 01321813 core:RetainedEarningsAccumulatedLosses 2025-01-31 01321813 core:ShareCapital 2025-01-31 01321813 core:CurrentFinancialInstruments 2025-01-31 01321813 core:CurrentFinancialInstruments core:WithinOneYear 2025-01-31 01321813 core:FurnitureFittingsToolsEquipment 2025-01-31 01321813 1 2025-01-31 01321813 bus:SmallEntities 2024-02-01 2025-01-31 01321813 bus:AuditExemptWithAccountantsReport 2024-02-01 2025-01-31 01321813 bus:FilletedAccounts 2024-02-01 2025-01-31 01321813 bus:SmallCompaniesRegimeForAccounts 2024-02-01 2025-01-31 01321813 bus:RegisteredOffice 2024-02-01 2025-01-31 01321813 bus:Director2 2024-02-01 2025-01-31 01321813 bus:OrdinaryShareClass1 2024-02-01 2025-01-31 01321813 bus:PrivateLimitedCompanyLtd 2024-02-01 2025-01-31 01321813 core:FurnitureFittings 2024-02-01 2025-01-31 01321813 core:FurnitureFittingsToolsEquipment 2024-02-01 2025-01-31 01321813 core:PlantMachinery 2024-02-01 2025-01-31 01321813 countries:England 2024-02-01 2025-01-31 01321813 1 2024-02-01 2025-01-31 01321813 2024-01-31 01321813 core:FurnitureFittingsToolsEquipment 2024-01-31 01321813 1 2024-01-31 01321813 2023-02-01 2024-01-31 01321813 2024-01-31 01321813 bus:OrdinaryShareClass1 2024-01-31 01321813 core:OtherReservesSubtotal 2024-01-31 01321813 core:RetainedEarningsAccumulatedLosses 2024-01-31 01321813 core:ShareCapital 2024-01-31 01321813 core:CurrentFinancialInstruments 2024-01-31 01321813 core:CurrentFinancialInstruments core:WithinOneYear 2024-01-31 01321813 core:FurnitureFittingsToolsEquipment 2024-01-31 01321813 1 2024-01-31 01321813 1 2023-02-01 2024-01-31 01321813 1 2023-01-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 01321813

Westhouse Development Limited

Filleted Unaudited Financial Statements

for the Year Ended 31 January 2025

 

Westhouse Development Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Westhouse Development Limited

(Registration number: 01321813)
Balance Sheet as at 31 January 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

260

367

Investment property

5

732,932

765,729

 

733,192

766,096

Current assets

 

Debtors

6

9,615

1,754

Cash at bank and in hand

 

24,249

8,398

 

33,864

10,152

Creditors: Amounts falling due within one year

7

(13,442)

(26,259)

Net current assets/(liabilities)

 

20,422

(16,107)

Total assets less current liabilities

 

753,614

749,989

Provisions for liabilities

(69,745)

(69,771)

Net assets

 

683,869

680,218

Capital and reserves

 

Called up share capital

8

116,670

116,670

Other reserves

315,305

337,697

Retained earnings

251,894

225,851

Shareholders' funds

 

683,869

680,218

For the financial year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Westhouse Development Limited

(Registration number: 01321813)
Balance Sheet as at 31 January 2025

Approved and authorised by the Board on 12 June 2025 and signed on its behalf by:
 


Mr B Nicholson
Director

   
 

Westhouse Development Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

1

General information

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

The address of its registered office is:
49 West Street
Scawby
Brigg
North Lincolnshire
DN20 9AJ

Registration number: 01321813

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.

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 sales/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.

Tax

The tax expense for the period comprises current and deferred 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.

 

Westhouse Development Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

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 balance sheet 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:

Asset class

Depreciation method and rate

Plant and machinery

15% per annum on cost

Fixtures and fittings

15% per annum on cost

Investment property

Investment property is inclulded at fair value. Gains are recognised in the profit and loss account. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, 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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Westhouse Development Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year was 2 (2024 - 2).

4

Tangible assets

Property, plant and equipment
 £

Total
£

Cost or valuation

At 1 February 2024

52,477

52,477

Disposals

(25,000)

(25,000)

At 31 January 2025

27,477

27,477

Depreciation

At 1 February 2024

52,110

52,110

Charge for the year

106

106

Eliminated on disposal

(24,999)

(24,999)

At 31 January 2025

27,217

27,217

Carrying amount

At 31 January 2025

260

260

At 31 January 2024

367

367

5

Investment properties

2025
£

At 1 February

765,729

Additions

192,203

Disposals

(225,000)

At 31 January

732,932

The property has been valued at the year end by the director based on the fair value. There has been no change in the fair value in the year.

There has been no valuation of investment property by an independent valuer.

 

Westhouse Development Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

6

Debtors

Current

Note

2025
£

2024
£

Amounts owed by related parties

10

7,834

-

Other debtors

 

1,781

1,754

   

9,615

1,754

7

Creditors

2025
£

2024
£

Due within one year

Social security and other taxes

12,122

3,936

Other payables

1,320

22,323

13,442

26,259

8

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary shares of £1 each

116,670

116,670

116,670

116,670

       

9

Reserves

The investment properties are held at fair value. The fair value brought forward is £765,729 and the fair value carried forward is £732,203. One property, at a brought forward value of £225,000, was sold in the year with a realised gain of £22,392. A property was bought in the year and the fair value is equal to the cost. The deferred tax on the revalued properties brought forward and carried forward is £69,680, The overall fair value reserve movement isf £(22,392).

 

Westhouse Development Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025

10

Related party transactions

Transactions with directors

2025

At 1 February 2024
£

Advances to director
£

Repayments by director
£

At 31 January 2025
£

Directors loan account; No interest is charged on this balance, which was repaid after the year end.

(21,003)

88,846

(60,009)

7,834

 

2024

At 1 February 2023
£

Advances to director
£

Repayments by director
£

At 31 January 2024
£

Directors loan account; No interest is charged on this balance, which was repaid after the year end.

(36,043)

47,126

(32,086)

(21,003)