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REGISTERED NUMBER: 03105378 (England and Wales)



















Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Westernrange Limited

Westernrange Limited (Registered number: 03105378)






Contents of the Financial Statements
for the Year Ended 31 December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Westernrange Limited

Company Information
for the Year Ended 31 December 2024







DIRECTORS: D W Wilson
J D Wilson





SECRETARY: D E Norman





REGISTERED OFFICE: The Mills
Canal Street
Derby
Derbyshire
DE1 2RJ





BUSINESS ADDRESS: C/O Wilson House
Leicester Road
Ibstock
Leicestershire
LE67 6HP





REGISTERED NUMBER: 03105378 (England and Wales)





ACCOUNTANTS: Bates Weston LLP
Chartered Accountants
The Mills
Canal Street
Derby
DE1 2RJ

Westernrange Limited (Registered number: 03105378)

Balance Sheet
31 December 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Stocks 10,939,963 9,993,092
Debtors 4 3,911,908 4,994,914
Cash at bank 1,003,386 345,434
15,855,257 15,333,440
CREDITORS
Amounts falling due within one year 5 593,640 294,901
NET CURRENT ASSETS 15,261,617 15,038,539
TOTAL ASSETS LESS CURRENT
LIABILITIES

15,261,617

15,038,539

CREDITORS
Amounts falling due after more than one
year

6

38,000

38,000
NET ASSETS 15,223,617 15,000,539

CAPITAL AND RESERVES
Called up share capital 3,281,510 3,281,510
Share premium 1,398,453 1,398,453
Retained earnings 10,543,654 10,320,576
SHAREHOLDERS' FUNDS 15,223,617 15,000,539

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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.

Westernrange Limited (Registered number: 03105378)

Balance Sheet - continued
31 December 2024


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 June 2025 and were signed on its behalf by:





D W Wilson - Director


Westernrange Limited (Registered number: 03105378)

Notes to the Financial Statements
for the Year Ended 31 December 2024

1. STATUTORY INFORMATION

Westernrange Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes.

Turnover and profit on sales of residential properties are included within the financial statements where legal completion has taken place by the end of the financial period.

Sales of part exchange properties are not included in turnover. The profit or loss on the disposal of these properties is included within cost of sales.

Turnover and profit in relation to development contracts are recognised where the profitable outcome of the contract can be assessed with reasonable certainty. The turnover and profit recognised reflects that part of the total turnover and profit attributable to work performed at the accounting date. A full provision is made for losses on all contracts in the period in which they are first foreseen.

Rental income
Rental income is recognised in the profit and loss account on a straight line basis over the period of the lease.

Interest income
Interest income is recognised in profit or loss using the effective interest method.

Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Stocks and work in progress
The cost of work in progress includes direct costs. Where necessary, provisions are made against work in progress to value it at the lower of cost and net realisable value. Net realisable value is based on normal selling prices less further costs expected to be incurred on completion and disposal.

Investments in sites where planning has not yet been granted are initially included at cost. Regular reviews for impairment are performed considering the existing use value of the site and the likelihood of obtaining planning permission. Provision are made against cost where necessary.

Direct pre-development costs have been recognised as an asset in stocks and work in progress where it is probable that the site will be developed and provided that in accordance with FRS 102, such costs meet the definition of an asset. Such costs are reviewed regularly for evidence of impairment.

Options purchased in respect of land are capitalised initially at cost and included within work in progress. Regular reviews are carried out for impairment in the value of these options, and provisions made accordingly to reflect loss of value.

Westernrange Limited (Registered number: 03105378)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

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 such as trade and other accounts receivable and payable and loans with related parties.

All financial assets and liabilities are initially measured at transaction price and subsequently at amortised cost.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Preference shares
Preference shares are recognised in capital and reserves. The substance of the shares are considered to be that of an equity instrument rather than a debt instrument due to the rights attached.

Provisions
Provisions are recognised when the company has a present obligation (legal or constructive) as a result of a past event, it is probably that the company will be required to settle the obligation, and a reliable estimate can be made of the amount of the obligation. Legal advice is sought where appropriate.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

Westernrange Limited (Registered number: 03105378)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 28,500 28,501
Other debtors 82,606 160,181
Owed by related parties 3,800,000 4,800,000
Prepayments and accrued income 802 6,232
3,911,908 4,994,914

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 302,106 14,098
Tax 74,370 28,624
Social security and other taxes - 7,896
Other creditors - 5,850
Directors' current accounts - 10,091
Accrued expenses 217,164 228,342
593,640 294,901

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other loans 38,000 38,000

7. LEASING AGREEMENTS
The following operating lease income is committed to be received:

2024 2023
£    £   
Within one year 285,000 286,000
Between one and fives years 142,500 427,500
More than five years - -
427,500 713.500

Westernrange Limited (Registered number: 03105378)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2024

8. RELATED PARTY DISCLOSURES

2024 2023
£    £   
Amounts owed by the company 38,000 48,091
Amounts owed to the company 3,800,000 4,800,000

At the year end the company owed companies under common control £38,000 (2023: £38,000), during the year £Nil (2023: Nil) was repaid. Balances outstanding at the year end are included in other loans due after more than one year. Interest is charged at a rate of 3.5% and £1,330 (2023: £1,330) was incurred during the year. The loan balance is repayable on 10 September 2025.

At the year end £3,800,000 (2023: £4,800,000) was owed to the company by companies under common control. These amounts are included in other debtors due with one year. Interest is charged at a rate of 4% and £180,300 (2023: £192,000) was received in the year. The full amount is due to be repaid in 2025.

At the year end the company owed shareholders £NIL (2023: £10,091) which is included within shareholders' loans. No interest is charged on this balance and any repayment is due on demand.