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Registration number: 04145108

West Coast Property Services (UK) Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2025

 

West Coast Property Services (UK) Ltd

Contents

Statement of Financial Position

1 to 2

Notes to the Unaudited Financial Statements

3 to 10

 

West Coast Property Services (UK) Ltd

(Registration number: 04145108)
Statement of Financial Position as at 31 March 2025

Note

2025
£

2024
£

Fixed assets

 

Intangible assets

4

483,627

179,477

Tangible assets

5

341,065

333,533

Investments

6

-

140

 

824,692

513,150

Current assets

 

Debtors

7

32,141

37,574

Cash at bank and in hand

 

574,012

364,387

 

606,153

401,961

Creditors: Amounts falling due within one year

8

(395,875)

(231,091)

Net current assets

 

210,278

170,870

Total assets less current liabilities

 

1,034,970

684,020

Creditors: Amounts falling due after more than one year

8

(415,754)

(175,080)

Provisions for liabilities

(6,185)

(4,149)

Net assets

 

613,031

504,791

Capital and reserves

 

Called up share capital

50

50

Capital redemption reserve

50

50

Profit and loss account

612,931

504,691

Shareholders' funds

 

613,031

504,791

For the financial year ending 31 March 2025 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 Statement of Comprehensive Income.

Approved and authorised by the Board on 13 August 2025 and signed on its behalf by:
 

 

West Coast Property Services (UK) Ltd

(Registration number: 04145108)
Statement of Financial Position as at 31 March 2025 (continued)


Mrs L C Pickles
Director


Mr N J Webber
Director

 

West Coast Property Services (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office and principal place of business is:
13-14 Alexandra Parade
Weston-super-Mare
North Somerset
BS23 1QT

Principal activity

The principal activity of the company is property letting and estate agency.

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.

The financial statements are prepared in sterling which is the functional currency of the entity.

Group accounts not prepared

In the opinion of the directors, the company and its subsidiary undertakings comprise a small group. The company has therefore taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare group accounts..

Exemption from preparing group accounts

In the opinion of the directors, the company and its subsidiary undertakings comprise a small group. The company has therefore taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare group accounts.

 

West Coast Property Services (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

2

Accounting policies (continued)

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.

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 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 current and 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.

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 statement of financial position 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.

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

Freehold property

2% straight line

Leasehold improvements

2% straight line

 

West Coast Property Services (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

2

Accounting policies (continued)

Fixtures, fittings and office equipment

15% and 20% reducing balance

Motor vehicles

25% reducing balance

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.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

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

5 years straight line and 20 years straight line

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand, demand deposits with banks, 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. In the statement of financial position, bank overdrafts are shown within borrowing or current liabilities

 

West Coast Property Services (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

2

Accounting policies (continued)

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 statement of comprehensive income 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.

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.

Financial instruments

Recognition and measurement
A financial asset or a financial liability is recognised only when the company becomes party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 46 (2024 - 37).

 

West Coast Property Services (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 April 2024

503,987

503,987

Additions acquired separately

389,871

389,871

At 31 March 2025

893,858

893,858

Amortisation

At 1 April 2024

324,510

324,510

Amortisation charge

85,721

85,721

At 31 March 2025

410,231

410,231

Carrying amount

At 31 March 2025

483,627

483,627

At 31 March 2024

179,477

179,477

5

Tangible assets

Land and buildings
£

Long leasehold land and buildings
£

Fixtures and fittings
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 April 2024

471,500

5,470

182,614

-

659,584

Additions

1

-

34,834

6,146

40,981

Disposals

-

-

(47,311)

-

(47,311)

At 31 March 2025

471,501

5,470

170,137

6,146

653,254

Depreciation

At 1 April 2024

189,368

2,806

133,878

-

326,052

Charge for the year

9,430

72

12,755

1,536

23,793

Eliminated on disposal

-

-

(37,656)

-

(37,656)

At 31 March 2025

198,798

2,878

108,977

1,536

312,189

Carrying amount

At 31 March 2025

272,703

2,592

61,160

4,610

341,065

At 31 March 2024

282,132

2,664

48,737

-

333,533

 

West Coast Property Services (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

5

Tangible assets (continued)

Included within the net book value of land and buildings above is £272,703 (2024 - £282,132) in respect of freehold land and buildings and £2,592 (2024 - £2,664) in respect of long leasehold land and buildings.
 

6

Investments

2025
£

2024
£

Investments in subsidiaries

-

140

Subsidiaries

£

Cost or valuation

At 1 April 2024

140

Disposals

(140)

At 31 March 2025

-

Provision

Carrying amount

At 31 March 2025

-

At 31 March 2024

140

7

Debtors

Note

2025
£

2024
£

Trade debtors

 

3,675

5,940

Amounts owed by related parties

12

-

1,431

Other debtors

 

441

-

Prepayments

 

28,025

30,203

 

32,141

37,574

 

West Coast Property Services (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

8

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Loans and borrowings

10

3,647

3,600

Trade creditors

 

20,516

14,687

Amounts owed to group undertakings and undertakings in which the company has a participating interest

12

650

750

Taxation and social security

 

338,718

180,658

Accruals and deferred income

 

19,082

22,461

Other creditors

 

13,262

8,935

 

395,875

231,091


Creditors less than one year include £3,647 relating to a bank loan which secured against 13-14 Alexandra Parade, Weston-super-Mare and 20 High Street, Portishead.

Creditors: amounts falling due after more than one year

Note

2025
£

2024
£

Due after one year

 

Loans and borrowings

10

415,754

175,080


Creditors more than one year include £415,754 relating to a bank loan which secured against 13-14 Alexandra Parade, Weston-super-Mare and 20 High Street, Portishead.

9

Reserves

Profit and loss account:

This reserve records retained earnings and accumulated losses.

Capital redemption reserve:

This reserve records the nominal value of shares repurchased by the company.

 

West Coast Property Services (UK) Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 (continued)

10

Loans and borrowings

Non-current loans and borrowings

2025
£

2024
£

Bank borrowings

415,754

175,080

Current loans and borrowings

2025
£

2024
£

Bank borrowings

3,647

3,600

11

Obligations under leases and hire purchase contracts

Operating leases

The total of future minimum lease payments is as follows:

2025
£

2024
£

Not later than one year

21,946

39,058

Later than one year and not later than five years

14,876

33,340

36,822

72,398

12

Related party transactions

Transactions with directors

2024

At 1 April 2023
£

Repayments by director
£

At 31 March 2024
£

Directors Loan Account

2,829

(2,829)

-

 

13

Parent and ultimate parent undertaking

The company's immediate parent is West Coast Property Group Ltd, incorporated in England and Wales.