Westcountry Land Tiverton Limited 15159496 false 2023-09-23 2024-12-31 2024-12-31 The principal activity of the company is property development Digita Accounts Production Advanced 6.30.9574.0 true true 15159496 2023-09-23 2024-12-31 15159496 2024-12-31 15159496 core:RetainedEarningsAccumulatedLosses 2024-12-31 15159496 core:ShareCapital 2024-12-31 15159496 core:CurrentFinancialInstruments 2024-12-31 15159496 core:CurrentFinancialInstruments core:WithinOneYear 2024-12-31 15159496 bus:SmallEntities 2023-09-23 2024-12-31 15159496 bus:AuditExemptWithAccountantsReport 2023-09-23 2024-12-31 15159496 bus:FilletedAccounts 2023-09-23 2024-12-31 15159496 bus:SmallCompaniesRegimeForAccounts 2023-09-23 2024-12-31 15159496 bus:RegisteredOffice 2023-09-23 2024-12-31 15159496 bus:Director1 2023-09-23 2024-12-31 15159496 bus:Director2 2023-09-23 2024-12-31 15159496 bus:Director3 2023-09-23 2024-12-31 15159496 bus:Director4 2023-09-23 2024-12-31 15159496 bus:PrivateLimitedCompanyLtd 2023-09-23 2024-12-31 15159496 countries:EnglandWales 2023-09-23 2024-12-31 iso4217:GBP xbrli:pure

Registration number: 15159496

Westcountry Land Tiverton Limited

Unaudited Filleted Financial Statements

for the Period from 23 September 2023 to 31 December 2024

 

Westcountry Land Tiverton Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Westcountry Land Tiverton Limited

Company Information

Directors

Mr J D Fowler

Mr C S Palmer

Mr J R Dodge

Mr J F Schuttkacker

Registered office

7 Sandy Court
Ashleigh Way
Langage Business Park
Plymouth
Devon
PL7 5JX

Accountants

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

 

Westcountry Land Tiverton Limited

(Registration number: 15159496)
Balance Sheet as at 31 December 2024

Note

2024
£

Current assets

 

Stocks

4

5,807,170

Debtors

5

14,319

Cash at bank and in hand

 

32,640

 

5,854,129

Creditors: Amounts falling due within one year

6

(6,446,568)

Net liabilities

 

(592,439)

Capital and reserves

 

Called up share capital

100

Retained earnings

(592,539)

Shareholders' deficit

 

(592,439)

For the financial period ending 31 December 2024 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 period 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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.

Approved and authorised by the Board on 18 June 2025 and signed on its behalf by:
 

.........................................
Mr J D Fowler
Director

 

Westcountry Land Tiverton Limited

Notes to the Unaudited Financial Statements for the Period from 23 September 2023 to 31 December 2024

1

General information

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

The address of its registered office is:
7 Sandy Court
Ashleigh Way
Langage Business Park
Plymouth
Devon
PL7 5JX

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.

Going concern

The directors have acknowledged the negative reserves at the balance sheet date and pledged to continue to support the company so it can meet its obligations as they arise. Therefore the financial statements have been prepared on a going concern basis.

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.

 

Westcountry Land Tiverton Limited

Notes to the Unaudited Financial Statements for the Period from 23 September 2023 to 31 December 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

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.

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.

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 period, was 4.

4

Stocks

2024
£

Work in progress

5,807,170

5

Debtors

2024
£

Other debtors

14,319

Total current trade and other debtors

14,319

 

Westcountry Land Tiverton Limited

Notes to the Unaudited Financial Statements for the Period from 23 September 2023 to 31 December 2024

6

Creditors

Note

2024
£

Due within one year

 

Trade creditors

 

41,853

Amounts owed to group undertakings and undertakings in which the company has a participating interest

4,117,378

Other creditors

 

2,076,711

Accrued expenses

 

210,626

 

6,446,568