Silverfin false false 30/09/2024 01/04/2023 30/09/2024 A Lehner 01/09/2014 29 May 2025 The principal activity of the Company during the financial year was property development. 09197448 2024-09-30 09197448 bus:Director1 2024-09-30 09197448 2023-03-31 09197448 core:CurrentFinancialInstruments 2024-09-30 09197448 core:CurrentFinancialInstruments 2023-03-31 09197448 core:ShareCapital 2024-09-30 09197448 core:ShareCapital 2023-03-31 09197448 core:RetainedEarningsAccumulatedLosses 2024-09-30 09197448 core:RetainedEarningsAccumulatedLosses 2023-03-31 09197448 core:OtherPropertyPlantEquipment 2023-03-31 09197448 core:OtherPropertyPlantEquipment 2024-09-30 09197448 2023-04-01 2024-09-30 09197448 bus:FilletedAccounts 2023-04-01 2024-09-30 09197448 bus:SmallEntities 2023-04-01 2024-09-30 09197448 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-09-30 09197448 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-09-30 09197448 bus:Director1 2023-04-01 2024-09-30 09197448 core:OtherPropertyPlantEquipment core:TopRangeValue 2023-04-01 2024-09-30 09197448 2022-10-01 2023-03-31 09197448 core:OtherPropertyPlantEquipment 2023-04-01 2024-09-30 iso4217:GBP xbrli:pure

Company No: 09197448 (England and Wales)

WEST OF ENGLAND DEVELOPMENTS (TAUNTON) NO2 LIMITED

Unaudited Financial Statements
For the financial period from 01 April 2023 to 30 September 2024
Pages for filing with the registrar

WEST OF ENGLAND DEVELOPMENTS (TAUNTON) NO2 LIMITED

Unaudited Financial Statements

For the financial period from 01 April 2023 to 30 September 2024

Contents

WEST OF ENGLAND DEVELOPMENTS (TAUNTON) NO2 LIMITED

BALANCE SHEET

As at 30 September 2024
WEST OF ENGLAND DEVELOPMENTS (TAUNTON) NO2 LIMITED

BALANCE SHEET (continued)

As at 30 September 2024
Note 30.09.2024 31.03.2023
£ £
Fixed assets
Tangible assets 3 43,410 2,592
43,410 2,592
Current assets
Stocks 4 1,915,976 1,605,021
Debtors 5 3,998,156 5,430,913
Cash at bank and in hand 7,844,875 7,464,081
13,759,007 14,500,015
Creditors: amounts falling due within one year 6 ( 8,366,322) ( 9,347,064)
Net current assets 5,392,685 5,152,951
Total assets less current liabilities 5,436,095 5,155,543
Net assets 5,436,095 5,155,543
Capital and reserves
Called-up share capital 100 100
Profit and loss account 5,435,995 5,155,443
Total shareholders' funds 5,436,095 5,155,543

For the financial period ending 30 September 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 financial statements of West of England Developments (Taunton) No2 Limited (registered number: 09197448) were approved and authorised for issue by the Director on 29 May 2025. They were signed on its behalf by:

A Lehner
Director
WEST OF ENGLAND DEVELOPMENTS (TAUNTON) NO2 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 April 2023 to 30 September 2024
WEST OF ENGLAND DEVELOPMENTS (TAUNTON) NO2 LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 01 April 2023 to 30 September 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period and to the preceding financial period, unless otherwise stated.

General information and basis of accounting

West of England Developments (Taunton) No2 Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Kibbear House, Trull, Taunton, TA3 7LN, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Reporting period length

Reporting period length has been lengthened to 18 months to align the year end with associated companies. This therefore means that the the prior year figures and notes are not directly comparable.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date. Tax is recognised in the profit and loss account, 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.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks

Work in progress is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks. Net realisable value is based on selling price less anticipated costs to completion and selling costs. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost. 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.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

Period from
01.04.2023 to
30.09.2024
Period from
01.10.2022 to
31.03.2023
Number Number
Monthly average number of persons employed by the Company during the period, including the director 1 1

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 April 2023 43,785 43,785
Additions 52,767 52,767
At 30 September 2024 96,552 96,552
Accumulated depreciation
At 01 April 2023 41,193 41,193
Charge for the financial period 11,949 11,949
At 30 September 2024 53,142 53,142
Net book value
At 30 September 2024 43,410 43,410
At 31 March 2023 2,592 2,592

4. Stocks

30.09.2024 31.03.2023
£ £
Work in progress 1,915,976 1,605,021

5. Debtors

30.09.2024 31.03.2023
£ £
Trade debtors 0 3,859,682
Other debtors 3,998,156 1,571,231
3,998,156 5,430,913

6. Creditors: amounts falling due within one year

30.09.2024 31.03.2023
£ £
Trade creditors 15,251 37,286
Taxation and social security 79,533 772,223
Other creditors 8,271,538 8,537,555
8,366,322 9,347,064