Company registration number:
08989669
Westhey Limited
Unaudited filleted financial statements
28 February 2025
Westhey Limited
Contents
Statement of financial position
Notes to the financial statements
Westhey 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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4 |
1,994,602 |
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2,041,566 |
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Investments |
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5 |
- |
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300,250 |
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_______ |
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_______ |
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1,994,602 |
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2,341,816 |
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Current assets |
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Debtors |
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6 |
- |
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118,067 |
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Cash at bank and in hand |
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172,069 |
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140,688 |
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_______ |
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_______ |
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172,069 |
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258,755 |
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Creditors: amounts falling due |
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within one year |
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7 |
(
1,055,298) |
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(
1,101,532) |
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_______ |
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_______ |
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Net current liabilities |
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(
883,229) |
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(
842,777) |
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_______ |
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_______ |
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Total assets less current liabilities |
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1,111,373 |
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1,499,039 |
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Creditors: amounts falling due |
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after more than one year |
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8 |
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(
154,260) |
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(
228,157) |
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_______ |
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_______ |
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Net assets |
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957,113 |
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1,270,882 |
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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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5,000 |
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5,000 |
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Profit and loss account |
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952,113 |
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1,265,882 |
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_______ |
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_______ |
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Shareholder funds |
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957,113 |
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1,270,882 |
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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.
Director's responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges 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:
08989669
Westhey 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 and are prepared in sterling, which is the functional currency of the entity.
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 undertakings comprise a small group.
Taxation
The taxation expense represents the aggregate 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. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, directly. 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. Freehold property comprises of property which is let only to companies within the group. However, the property's value cannot be measured without undue cost or effort and therefore it has been valued in these financial statements using the cost model as opposed to being treated as an investment property and measured at fair value.
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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Freehold property |
- |
2 % |
straight line |
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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 initially recorded at cost and are 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.
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 are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.
4.
Tangible assets
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Freehold property |
Total |
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£ |
£ |
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Cost |
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At 1 March 2024 and 28 February 2025 |
2,348,214 |
2,348,214 |
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_______ |
_______ |
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Depreciation |
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At 1 March 2024 |
306,648 |
306,648 |
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Charge for the year |
46,964 |
46,964 |
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_______ |
_______ |
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At 28 February 2025 |
353,612 |
353,612 |
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_______ |
_______ |
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Carrying amount |
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At 28 February 2025 |
1,994,602 |
1,994,602 |
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_______ |
_______ |
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At 28 February 2024 |
2,041,566 |
2,041,566 |
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_______ |
_______ |
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5.
Investments
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Shares in group undertakings and participating interests |
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£ |
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Cost |
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At 1 March 2024 |
300,250 |
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Disposals |
(
300,250) |
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_______ |
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At 28 February 2025 |
- |
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_______ |
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Impairment |
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At 1 March 2024 and 28 February 2025 |
- |
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_______ |
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Carrying amount |
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At 28 February 2025 |
- |
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_______ |
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At 28 February 2024 |
300,250 |
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_______ |
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6.
Debtors
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2025 |
2024 |
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£ |
£ |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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- |
18,740 |
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Other debtors |
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- |
99,327 |
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_______ |
_______ |
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- |
118,067 |
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_______ |
_______ |
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7.
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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67,000 |
67,000 |
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Trade creditors |
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63,971 |
- |
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Amounts owed to group undertakings and undertakings in which the company has a participating interest |
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- |
1,015,473 |
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Corporation tax |
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18,054 |
13,864 |
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Social security and other taxes |
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3,005 |
- |
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Other creditors |
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903,268 |
5,195 |
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_______ |
_______ |
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1,055,298 |
1,101,532 |
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_______ |
_______ |
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8.
Creditors: amounts falling due after more than one year
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2025 |
2024 |
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£ |
£ |
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Bank loans and overdrafts |
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154,260 |
228,157 |
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_______ |
_______ |
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The bank loan totalling £221,259 (2024: £295,157) included within creditors (£67,000 due within one year, £154,259 due after more than one year) is secured via a fixed and floating charge dated 17 July 2015 over the assets of the company and its subsidiary.
9.
Directors advances, credits and guarantees
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During the year the director entered into the following advances and credits with the company: |
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2025 |
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Balance brought forward |
Advances /(credits) to the director |
Amounts repaid |
Balance o/standing |
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£ |
£ |
£ |
£ |
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J. J. Hey |
- |
(
947,931) |
88,762 |
(
859,169) |
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_______ |
_______ |
_______ |
_______ |
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2024 |
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Balance brought forward |
Advances /(credits) to the director |
Amounts repaid |
Balance o/standing |
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£ |
£ |
£ |
£ |
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J. J. Hey |
(
49,911) |
49,911 |
- |
- |
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_______ |
_______ |
_______ |
_______ |
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The director
J. J. Hey
has provided a personal guarantee as additional security against the Company bank loan.