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REGISTERED NUMBER: SC395189 (Scotland)









UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

WESTQUARTER PROPERTIES LIMITED

WESTQUARTER PROPERTIES LIMITED (REGISTERED NUMBER: SC395189)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WESTQUARTER PROPERTIES LIMITED

COMPANY INFORMATION
for the year ended 31 March 2025







DIRECTORS: R Fisher
M E Fisher
A J Fisher





REGISTERED OFFICE: Q Court
3 Quality Street
Edinburgh
EH4 5BP





REGISTERED NUMBER: SC395189 (Scotland)





ACCOUNTANTS: Haines Watts
Business Advisors and Accountants
Q Court
3 Quality Street
Edinburgh
EH4 5BP

WESTQUARTER PROPERTIES LIMITED (REGISTERED NUMBER: SC395189)

BALANCE SHEET
31 March 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 535 799
Investment property 5 379,351 379,351
379,886 380,150

CURRENT ASSETS
Debtors 6 5,875 7,950
Cash at bank 222,542 270,744
228,417 278,694
CREDITORS
Amounts falling due within one year 7 98,547 192,277
NET CURRENT ASSETS 129,870 86,417
TOTAL ASSETS LESS CURRENT
LIABILITIES

509,756

466,567

PROVISIONS FOR LIABILITIES 8 107 184
NET ASSETS 509,649 466,383

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings 508,649 465,383
SHAREHOLDERS' FUNDS 509,649 466,383

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

WESTQUARTER PROPERTIES LIMITED (REGISTERED NUMBER: SC395189)

BALANCE SHEET - continued
31 March 2025


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 13 June 2025 and were signed on its behalf by:





R Fisher - Director


WESTQUARTER PROPERTIES LIMITED (REGISTERED NUMBER: SC395189)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2025

1. STATUTORY INFORMATION

Westquarter Properties Limited is a private company, limited by shares , registered in Scotland. 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, net of discounts and value added taxes. Turnover includes revenue earned from gross rents receivable and from the rendering of consultancy services.

Turnover from consultancy services is recognised by reference to the stage of completion of the contract determined by the value of the services provided at the balance sheet date as a proportion of the total value of the engagement. Turnover from property investment is recognised in accordance to the agreed rental lease between the relevant parties.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Computer equipment - 33% per annum reducing balance

IMPAIRMENT OF ASSETS
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carry amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

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.

WESTQUARTER PROPERTIES LIMITED (REGISTERED NUMBER: SC395189)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2025

2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

Short-term debt instruments, including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

FIXED ASSET INVESTMENT
Investment in participating interest is shown at attributable share of the total members' interests.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - NIL).

WESTQUARTER PROPERTIES LIMITED (REGISTERED NUMBER: SC395189)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2025

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 April 2024
and 31 March 2025 1,574
DEPRECIATION
At 1 April 2024 775
Charge for year 264
At 31 March 2025 1,039
NET BOOK VALUE
At 31 March 2025 535
At 31 March 2024 799

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2024
and 31 March 2025 379,351
NET BOOK VALUE
At 31 March 2025 379,351
At 31 March 2024 379,351

Fair value at 31 March 2025 is represented by:
£   
Valuation in 2025 (52,841 )
Cost 432,192
379,351

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

2025 2024
£    £   
Cost 432,192 432,192

Investment property was valued on an open market basis on 31 March 2025 by the directors .

WESTQUARTER PROPERTIES LIMITED (REGISTERED NUMBER: SC395189)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2025

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 5,345 6,716
Other debtors 530 1,234
5,875 7,950

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade creditors 420 396
Taxation and social security 12,015 24,762
Other creditors 86,112 167,119
98,547 192,277

8. PROVISIONS FOR LIABILITIES
2025 2024
£    £   
Deferred tax 107 184

Deferred
tax
£   
Balance at 1 April 2024 184
Credit to Statement of Income and Retained Earnings during year (77 )
Balance at 31 March 2025 107

9. RELATED PARTY DISCLOSURES

Included within "Other creditors" is an amount of £79,742 (2024 - £162,155) due to the directors from the company. The loan is interest free and has no fixed terms of repayment.