Registration number:
Westhouse Development Limited
for the Year Ended 31 January 2025
Westhouse Development Limited
Contents
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Westhouse Development Limited
(Registration number: 01321813)
Balance Sheet as at 31 January 2025
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2025 |
2024 |
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Fixed assets |
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Tangible assets |
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Investment property |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets/(liabilities) |
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Total assets less current liabilities |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Other reserves |
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Retained earnings |
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Shareholders' funds |
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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:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Westhouse Development Limited
(Registration number: 01321813)
Balance Sheet as at 31 January 2025
Approved and authorised by the
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Westhouse Development Limited
Notes to the Unaudited Financial Statements for the Year Ended 31 January 2025
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General information |
The company is a private company limited by share capital, incorporated in England.
The address of its registered office is:
Registration number: 01321813
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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:
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Asset class |
Depreciation method and rate |
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Plant and machinery |
15% per annum on cost |
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Fixtures and fittings |
15% per annum on cost |
Investment property
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.
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Staff numbers |
The average number of persons employed by the company (including directors) during the year was
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Tangible assets |
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Property, plant and equipment |
Total |
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Cost or valuation |
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At 1 February 2024 |
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Disposals |
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At 31 January 2025 |
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Depreciation |
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At 1 February 2024 |
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Charge for the year |
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Eliminated on disposal |
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At 31 January 2025 |
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Carrying amount |
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At 31 January 2025 |
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At 31 January 2024 |
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Investment properties |
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2025 |
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At 1 February |
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Additions |
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Disposals |
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At 31 January |
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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
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Debtors |
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Current |
Note |
2025 |
2024 |
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Amounts owed by related parties |
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- |
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Other debtors |
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Creditors |
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2025 |
2024 |
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Due within one year |
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Social security and other taxes |
12,122 |
3,936 |
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Other payables |
1,320 |
22,323 |
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13,442 |
26,259 |
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Share capital |
Allotted, called up and fully paid shares
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2025 |
2024 |
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No. |
£ |
No. |
£ |
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116,670 |
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116,670 |
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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
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Related party transactions |
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Transactions with directors |
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2025 |
At 1 February 2024 |
Advances to director |
Repayments by director |
At 31 January 2025 |
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Directors loan account; No interest is charged on this balance, which was repaid after the year end. |
( |
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( |
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2024 |
At 1 February 2023 |
Advances to director |
Repayments by director |
At 31 January 2024 |
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Directors loan account; No interest is charged on this balance, which was repaid after the year end. |
( |
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( |
( |