| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| FOR |
| WESTOAKS BUILDERS LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| FOR |
| WESTOAKS BUILDERS LIMITED |
| WESTOAKS BUILDERS LIMITED (REGISTERED NUMBER: 04902033) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| WESTOAKS BUILDERS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certified Accountants |
| Railview Lofts |
| 19c Commercial Road |
| Eastbourne |
| East Sussex |
| BN21 3XE |
| WESTOAKS BUILDERS LIMITED (REGISTERED NUMBER: 04902033) |
| BALANCE SHEET |
| 30 NOVEMBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT (LIABILITIES)/ASSETS | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) |
| NET (LIABILITIES)/ASSETS | ( |
) |
| WESTOAKS BUILDERS LIMITED (REGISTERED NUMBER: 04902033) |
| BALANCE SHEET - continued |
| 30 NOVEMBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Retained earnings | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) |
| 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. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| WESTOAKS BUILDERS LIMITED (REGISTERED NUMBER: 04902033) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 1. | STATUTORY INFORMATION |
| Westoaks Builders Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going Concern |
| Following trading losses in the period on contracts which have now been substantially completed, the company has reported net liabilities as at 30 November 2024. Since this date, the company has secured additional funding from the director and majority shareholder T Noble in the sum of £100,000, with the availability for a further £150,000 if required. . |
| The directors are of the opinion that this will provide sufficient funding to meet the company's working capital needs whilst it returns to trading profitability and continue as a going concern. |
| Turnover |
| Turnover represents net invoiced sales of goods and services, excluding value added tax, except in respect of service contracts where turnover is recognised when the company obtains the right to consideration. |
| Goodwill |
| Goodwill has been amortised in accordance with an estimated useful life of 10 years from December 2013 following the adoption of FRS 102. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Plant and machinery etc | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| WESTOAKS BUILDERS LIMITED (REGISTERED NUMBER: 04902033) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Trade and other debtors and creditors are classified as basic financial instruments and are initially measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision will be 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 at bank and short-term bank deposits with an original maturity of three months or less which are an integral part of the company's cash management. |
| Financial liabilities issued by the company are classified in accordance with the substance of the contractual arrangements entered into and meet the definitions of a financial liability. |
| Financial assets are de-recognised when: |
| - the contractual right to the cash flows from the financial asset expire or are settled; or |
| - the company transfers to another party substantially all of the risks and rewards of ownership of the financial asset; or |
| - the company, despite having retained some but not all off significant risks and rewards of ownership, has transferred control of the asset to another party. |
| Financial liabilities are de-recognised only when the obligation specified in the contract is discharged, cancelled or expires. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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. |
| WESTOAKS BUILDERS LIMITED (REGISTERED NUMBER: 04902033) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter. |
| The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 December 2023 |
| and 30 November 2024 |
| AMORTISATION |
| At 1 December 2023 |
| and 30 November 2024 |
| NET BOOK VALUE |
| At 30 November 2024 |
| At 30 November 2023 |
| WESTOAKS BUILDERS LIMITED (REGISTERED NUMBER: 04902033) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 December 2023 |
| and 30 November 2024 |
| DEPRECIATION |
| At 1 December 2023 |
| Charge for year |
| At 30 November 2024 |
| NET BOOK VALUE |
| At 30 November 2024 |
| At 30 November 2023 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and |
| machinery |
| etc |
| £ |
| COST |
| At 1 December 2023 |
| Transfer to ownership | (37,193 | ) |
| At 30 November 2024 |
| DEPRECIATION |
| At 1 December 2023 |
| Charge for year |
| Transfer to ownership | (26,331 | ) |
| At 30 November 2024 |
| NET BOOK VALUE |
| At 30 November 2024 |
| At 30 November 2023 |
| WESTOAKS BUILDERS LIMITED (REGISTERED NUMBER: 04902033) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Amounts recoverable on |
| contracts |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans |
| Hire purchase contracts |
| WESTOAKS BUILDERS LIMITED (REGISTERED NUMBER: 04902033) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30 NOVEMBER 2024 |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| A Ordinary | £1 | 250 | 250 |
| B Ordinary | £1 | 250 | 250 |
| C Ordinary | £1 | 1 | 1 |
| D Ordinary | £1 | 1 | 1 |
| E Ordinary | £1 | 1 | 1 |
| 1 | F Ordinary | £1 | 1 | 1 |
| 1 | G Ordinary | £1 | 1 | 1 |
| 1 | H Ordinary | £1 | 1 | 1 |
| 1 | I Ordinary | £1 | 1 | 1 |
| 507 | 507 |
| The company's ordinary share capital is subdivided into ten classes designated A ordinary to J ordinary, each consisting of 1,000 shares of £1 each. All classes of share ranking in all respects pari passu. |
| 10. | ULTIMATE CONTROLLING PARTY |
| The company is controlled by Mrs T Noble by virtue of her shareholding in the company. |