Company registration number:
02261651
Westbury Garden Rooms Limited
Unaudited filleted financial statements
28 February 2025
Westbury Garden Rooms Limited
Contents
Statement of financial position
Notes to the financial statements
Westbury Garden Rooms Limited
Statement of financial position
28 February 2025
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2025 |
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2024 |
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Note |
£ |
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£ |
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£ |
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£ |
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Fixed assets |
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Tangible assets |
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5 |
358,488 |
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473,224 |
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Investments |
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6 |
713,597 |
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713,597 |
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_______ |
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_______ |
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1,072,085 |
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1,186,821 |
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Current assets |
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Stocks |
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419,345 |
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317,143 |
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Debtors |
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7 |
1,339,377 |
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2,210,133 |
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Cash at bank and in hand |
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229,966 |
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415,502 |
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_______ |
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_______ |
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1,988,688 |
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2,942,778 |
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Creditors: amounts falling due |
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within one year |
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8 |
(
1,204,330) |
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(
1,334,844) |
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_______ |
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_______ |
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Net current assets |
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784,358 |
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1,607,934 |
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_______ |
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_______ |
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Total assets less current liabilities |
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1,856,443 |
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2,794,755 |
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Creditors: amounts falling due |
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after more than one year |
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9 |
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(
9,679) |
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(
53,079) |
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Provisions for liabilities |
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(
89,913) |
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(
89,913) |
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_______ |
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_______ |
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Net assets |
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1,756,851 |
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2,651,763 |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
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277,778 |
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277,778 |
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Share premium account |
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22,222 |
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22,222 |
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Profit and loss account |
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1,456,851 |
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2,351,763 |
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_______ |
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_______ |
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Shareholders funds |
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1,756,851 |
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2,651,763 |
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_______ |
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_______ |
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For the year ending 28 February 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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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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 financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
01 July 2025
, and are signed on behalf of the board by:
J. J. Hey
Director
Company registration number:
02261651
Westbury Garden Rooms Limited
Notes to the financial statements
Year ended 28 February 2025
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 46-52 Cutlers Road, South Woodham Ferrers, Chelmsford, Essex, CM3 5XJ.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
Although the company's trade has been affected by the Covid 19 pandemic, measures taken by the directors have significantly mitigated the effects. The directors continue to consider the company a going concern.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertaking comprise a small group.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the amount of current tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
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Plant and machinery |
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15-25% reducing balance |
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If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Fixed asset investments
Fixed asset investments are intially recorded at cost and subsequently stated at cost less any accumulated impairment losses.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
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 receivables and payables. Debt instruments that are payable or receivable within one year are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.
Defined contribution pension plans
Contributions to defined contribution pension plans are recognised as an expense in the period in which the contributions are paid.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
24
(2024:
24
).
7.
Debtors
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2025 |
2024 |
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£ |
£ |
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Trade debtors |
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668,203 |
504,797 |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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623,456 |
1,679,393 |
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Other debtors |
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47,718 |
25,943 |
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_______ |
_______ |
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1,339,377 |
2,210,133 |
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_______ |
_______ |
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8.
Creditors: amounts falling due within one year
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2025 |
2024 |
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£ |
£ |
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Bank loans and overdrafts |
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26,039 |
62,500 |
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Trade creditors |
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128,348 |
103,692 |
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Corporation tax |
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214,409 |
153,326 |
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Social security and other taxes |
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103,673 |
172,767 |
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Other creditors |
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731,861 |
842,559 |
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_______ |
_______ |
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1,204,330 |
1,334,844 |
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Any bank borrowings of the company are secured by a debenture dated 17 July 2015 in the name of Westhey Limited, previously its parent company.
9.
Creditors: amounts falling due after more than one year
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2025 |
2024 |
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£ |
£ |
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Other creditors |
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9,679 |
53,079 |
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10.
Controlling party
Westbury Trust Limited is the company's parent undertaking. The registered office of Westbury Trust Limited is 46-52 Cutlers Road, South Woodham Ferrers, Chelmsford, Essex. CM3 5XJ.