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Company No: 11051760 (England and Wales)

WESTIE INVESTMENTS LIMITED

Unaudited Financial Statements
For the financial year ended 31 October 2024
Pages for filing with the registrar

WESTIE INVESTMENTS LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2024

Contents

WESTIE INVESTMENTS LIMITED

COMPANY INFORMATION

For the financial year ended 31 October 2024
WESTIE INVESTMENTS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 October 2024
DIRECTORS J M Queen
M J Queen
REGISTERED OFFICE Level 1 Brockbourne House
77 Mount Ephraim
Tunbridge Wells
TN4 8BS
United Kingdom
COMPANY NUMBER 11051760 (England and Wales)
ACCOUNTANT S&W Partners LLP
4th Floor Cumberland House
15-17 Cumberland Place
Southampton
Hampshire
SO15 2BG
WESTIE INVESTMENTS LIMITED

BALANCE SHEET

As at 31 October 2024
WESTIE INVESTMENTS LIMITED

BALANCE SHEET (continued)

As at 31 October 2024
Note 2024 2023
£ £
Restated
Fixed assets
Investments 3 3,100,289 2,708,188
3,100,289 2,708,188
Current assets
Cash at bank and in hand 134,722 64,818
134,722 64,818
Creditors: amounts falling due within one year 4 ( 2,050,408) ( 2,246,756)
Net current liabilities (1,915,686) (2,181,938)
Total assets less current liabilities 1,184,603 526,250
Provision for liabilities 5 ( 229,941) ( 73,625)
Net assets 954,662 452,625
Capital and reserves
Called-up share capital 100 100
Profit and loss account 954,562 452,525
Total shareholders' funds 954,662 452,625

For the financial year ending 31 October 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Westie Investments Limited (registered number: 11051760) were approved and authorised for issue by the Board of Directors on 29 July 2025. They were signed on its behalf by:

M J Queen
Director
WESTIE INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
WESTIE INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Westie Investments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Level 1 Brockbourne House, 77 Mount Ephraim, Tunbridge Wells, TN4 8BS, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of Westie Investments Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

These financial statements are separate financial statements.

Going concern

The financial statements have been prepared on a going concern basis.

The directors have made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.

Prior year adjustment

The comparative figures displayed on the Statement of Income and Retained Earnings have been restated for reclassification and presentational purposes only. The figures displayed on the Balance Sheet have been restated to remove the revaluation reserve.

Interest income

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

Dividend income

Dividend income from investments is recognised when the shareholders' rights to receive payment have been established (provided that it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably).

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

Financial instruments

Financial assets and financial liabilities are recognised in the Balance Sheet when the Company becomes a party to the contractual provisions of the instrument.

Investments in listed shares are classified as basic financial instruments. They are initially measured at transaction price and subsequently measured at fair value, with changes in fair value being recognised in profit or loss. Fair value is determined using the quoted bid price at the balance sheet date.

Trade and other debtors and creditors are classified as basic financial instruments and measured on initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the Company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank, shortterm bank deposits with an original maturity of three months or less and bank overdrafts which are an integral part of the Company’s cash management.

Financial liabilities and equity instruments issued by the Company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities. Equity instruments issued by the Company are recorded at the proceeds received, net of direct issue costs.

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Fixed asset investments

Listed investments Total
£ £
Cost or valuation before impairment
At 01 November 2023 2,708,188 2,708,188
Additions 99,995 99,995
Disposals ( 304,225) ( 304,225)
Movement in fair value 596,331 596,331
At 31 October 2024 3,100,289 3,100,289
Carrying value at 31 October 2024 3,100,289 3,100,289
Carrying value at 31 October 2023 2,708,188 2,708,188

4. Creditors: amounts falling due within one year

2024 2023
£ £
Shareholder loans 2,044,662 2,241,596
Accruals 5,746 5,160
2,050,408 2,246,756

5. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 73,625) 0
Charged to the Statement of Income and Retained Earnings ( 156,316) ( 73,625)
At the end of financial year ( 229,941) ( 73,625)

6. Related party transactions

Other related party transactions

At the year end, the Company owed shareholders £2,044,663 (2023 - £2,241,596) and this amount is included in other creditors. No interest is being charged on this loan, and it is repayable on demand.