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Registration number: 08628457

West End Ventures Limited

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2024

 

West End Ventures Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 10

 

West End Ventures Limited

(Registration number: 08628457)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

76,822

84,551

Current assets

 

Stocks

6

12,000

12,000

Debtors

7

102,807

12,520

Cash at bank and in hand

 

15,292

4,434

 

130,099

28,954

Creditors: Amounts falling due within one year

8

(520,833)

(420,007)

Net current liabilities

 

(390,734)

(391,053)

Total assets less current liabilities

 

(313,912)

(306,502)

Creditors: Amounts falling due after more than one year

8

(28,043)

(34,054)

Provisions for liabilities

(13,779)

(16,678)

Net liabilities

 

(355,734)

(357,234)

Capital and reserves

 

Called up share capital

10

1,000

1,000

Revaluation reserve

61,400

72,703

Retained earnings

(418,134)

(430,937)

Shareholders' deficit

 

(355,734)

(357,234)

For the financial year ending 30 September 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 year 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 and 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.

 

West End Ventures Limited

(Registration number: 08628457)
Balance Sheet as at 30 September 2024

Approved and authorised by the Board on 10 July 2025 and signed on its behalf by:
 

.........................................
Mr I Hashmi
Director

.........................................
W Helsby
Director

 

West End Ventures Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 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:
30 St Giles'
Oxford
OX1 3LE

These financial statements were authorised for issue by the Board on 10 July 2025.

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 consider that there are no material uncertainties about the Company's ability to continue as a going concern. The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, 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.

 

West End Ventures Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

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

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

On transition from UKGAAP to FRS 102, short leasehold land and buildings historical cost was £13,526 and a revaluation upon transition of FRS102 of £167,319. The cost carried forward as at the 30th September 2024 is £180,845 (2023: £180,845).

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Short-term leasehold property

Straight line over lease term

Fixtures and fittings

25% reducing balance

Office equipment

25% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Straight line over 10 years

 

West End Ventures Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

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, 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.

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.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

West End Ventures Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 13 (2023 - 13).

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 October 2023

45,700

45,700

At 30 September 2024

45,700

45,700

Amortisation

At 1 October 2023

45,700

45,700

At 30 September 2024

45,700

45,700

Carrying amount

At 30 September 2024

-

-

 

West End Ventures Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

5

Tangible assets

Short leasehold land and buildings
£

Fixtures and fittings
£

Office equipment
£

Total
£

Cost or valuation

At 1 October 2023

180,845

39,428

5,450

225,723

Additions

-

4,734

786

5,520

At 30 September 2024

180,845

44,162

6,236

231,243

Depreciation

At 1 October 2023

102,794

33,690

4,688

141,172

Charge for the year

11,303

1,798

148

13,249

At 30 September 2024

114,097

35,488

4,836

154,421

Carrying amount

At 30 September 2024

66,748

8,674

1,400

76,822

At 30 September 2023

78,051

5,738

762

84,551

Included within the net book value of land and buildings above is £66,748 (2023 - £78,051) in respect of short leasehold land and buildings. Short leasehold land and buildings historical cost was £13,526, and revaluation movement as at 1 April 2015 of £167,319, the cost carried forward as at 30th September 2024 is £180,845 (2023: £180,845).
 

6

Stocks

2024
£

2023
£

Other inventories

12,000

12,000

7

Debtors

2024
£

2023
£

Trade debtors

1,323

12,520

Other debtors

101,484

-

102,807

12,520

 

West End Ventures Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

5,077

6,009

Trade creditors

 

22,927

28,621

Taxation and social security

 

53,054

53,857

Accruals and deferred income

 

9,747

6,400

Other creditors

 

430,028

325,120

 

520,833

420,007

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

28,043

34,054

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

28,043

34,054

Current loans and borrowings

2024
£

2023
£

Bank borrowings

5,077

6,009

10

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000

       
 

West End Ventures Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

11

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the current year were as follows:

Revaluation reserve
£

Retained earnings
£

Total
£

Surplus/(deficit) on revaluation reserve

(11,303)

-

(11,303)

Transfer to/(from) profit and loss account

-

11,303

11,303

(11,303)

11,303

-

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Revaluation reserve
£

Retained earnings
£

Total
£

Surplus/(deficit) on revaluation reserve

(14,191)

-

(14,191)

Transfer to/(from) profit and loss account

-

14,191

14,191

(14,191)

14,191

-

 

West End Ventures Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024

12

Related party transactions

Other transactions with directors

As at the balance sheet date, a director owed the company £12,272 (2023: £nil). This balance is interest free and repayable on demand.

Summary of transactions with all entities with joint control or significant interest

Included within other debtors/(creditors) are amounts due from/(to) the following companies owned by Mr I Hashmi and/or Mr W Helsby. These amounts are interest free and there is no fixed date of repayment:

2024
£

2023
£

Trenmile Limited

(116,836)

(120,062)

East End Enterprises Limited

48,212

53,211

HIL

(60,400)

21,000

Novandi Limited

(41,505)

(39,505)