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Company No: 03620144 (England and Wales)

# WESTBURY PARK ENGINEERING LIMITED

### Unaudited Financial Statements
For the financial year ended 31 March 2025
Pages for filing with the registrar

WESTBURY PARK ENGINEERING LIMITED

## Unaudited Financial Statements

For the financial year ended 31 March 2025

Contents

WESTBURY PARK ENGINEERING LIMITED

## STATEMENT OF FINANCIAL POSITION

As at 31 March 2025
WESTBURY PARK ENGINEERING LIMITED

## STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 3 | 183,859 |  | 164,057
|  | 183,859 |  | 164,057
Current assets |  |  |  |
Stocks |  | 314,572 |  | 5,250
Debtors | 4 | 415,720 |  | 501,180
Cash at bank and in hand |  | 563,765 |  | 461,343
|  | 1,294,057 |  | 967,773
Creditors: amounts falling due within one year | 5 | ( 1,038,518) |  | ( 585,477)
Net current assets |  | 255,539 |  | 382,296
Total assets less current liabilities |  | 439,398 |  | 546,353
Creditors: amounts falling due after more than one year | 6 | ( 26,229) |  | ( 11,667)
Provision for liabilities |  | ( 45,552) |  | ( 115,642)
Net assets |  | 367,617 |  | 419,044
Capital and reserves |  |  |  |
Called-up share capital | 7 | 90,000 |  | 90,000
Capital redemption reserve |  | 60,000 |  | 60,000
Profit and loss account |  | 217,617 |  | 269,044
Total shareholder's funds |  | 367,617 |  | 419,044

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.

Director's responsibilities:

- The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Westbury Park Engineering Limited (registered number: 03620144) were approved and authorised for issue by the Director on 11 July 2025. They were signed on its behalf by:

J P Brain Director |

WESTBURY PARK ENGINEERING LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025
WESTBURY PARK ENGINEERING LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2025

##### 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

Westbury Park Engineering 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 Westbury Park Engineering Ltd Brook Lane, Westbury, Wiltshire, BA13 4ES, United Kingdom.
The financial statements have been prepared under the historical cost convention, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

##### Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director has a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

##### Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

##### Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

##### Employee benefits

Defined benefit schemes
For defined benefit schemes the amounts charged to operating profit are the costs arising from employee services rendered during the period and the cost of plan introductions, benefit changes, settlements and curtailments. They are included as part of staff costs. The net interest cost on the net defined benefit liability is charged to the Statement of Income and Retained Earnings and included within finance costs. Remeasurement comprising actuarial gains and losses and the return on scheme assets (excluding amounts included in net interest on the net defined benefit liability) are recognised immediately in the Statement of Comprehensive Income.
Defined benefit schemes are funded, with the assets of the scheme held separately from those of the Company, in separate trustee administered funds. Pension scheme assets are measured at fair value and liabilities are measured on an actuarial basis using the projected unit credit method. Actuarial valuations are obtained at least triennially and are updated at each Statement of Financial Position date.

##### 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 Statement of Financial Position 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 current 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.

##### Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, other than investment properties and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line/reducing balance basis over its expected useful life, as follows:

Leasehold improvements | 5 years straight line
Plant and machinery | 25 % reducing balance
Vehicles | 25 % reducing balance
Fixtures and fittings | 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

##### Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

##### Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

##### Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

##### Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

##### Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

##### Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

##### Ordinary share capital

The ordinary share capital of the Company is presented as equity.

##### 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 at an annual general meeting.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including the director | 27 |  | 26

#### 3. Tangible assets

| Leasehold improve- ments |  | Plant and machinery |  | Vehicles |  | Fixtures and fittings |  | Total
| £ |  | £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |  |  |
At 01 April 2024 | 34,054 |  | 633,467 |  | 28,161 |  | 76,067 |  | 771,749
Additions | 0 |  | 39,293 |  | 37,963 |  | 0 |  | 77,256
Disposals | 0 |  | 0 |  | ( 11,745) |  | 0 |  | ( 11,745)
At 31 March 2025 | 34,054 |  | 672,760 |  | 54,379 |  | 76,067 |  | 837,260
Accumulated depreciation |  |  |  |  |  |  |  |  |
At 01 April 2024 | 34,054 |  | 481,804 |  | 24,656 |  | 67,178 |  | 607,692
Charge for the financial year | 0 |  | 42,803 |  | 10,323 |  | 4,127 |  | 57,253
Disposals | 0 |  | 0 |  | ( 11,544) |  | 0 |  | ( 11,544)
At 31 March 2025 | 34,054 |  | 524,607 |  | 23,435 |  | 71,305 |  | 653,401
Net book value |  |  |  |  |  |  |  |  |
At 31 March 2025 | 0 |  | 148,153 |  | 30,944 |  | 4,762 |  | 183,859
At 31 March 2024 | 0 |  | 151,663 |  | 3,505 |  | 8,889 |  | 164,057

#### 4. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 262,431 |  | 221,184
Amounts owed by Group undertakings | 87,720 |  | 211,920
Prepayments | 64,769 |  | 65,976
Other debtors | 800 |  | 2,100
| 415,720 |  | 501,180

#### 5. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Bank loans (secured) | 10,000 |  | 10,000
Trade creditors | 203,563 |  | 143,743
Accruals and deferred income | 546,493 |  | 240,374
Taxation and social security | 250,638 |  | 177,376
Obligations under finance leases and hire purchase contracts (secured) | 7,263 |  | 5,955
Other creditors | 20,561 |  | 8,029
| 1,038,518 |  | 585,477

Hire purchase liabilities are secured on the asset being purchased through the hire purchase contract.

#### 6. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Bank loans (secured) | 1,667 |  | 11,667
Obligations under finance leases and hire purchase contracts (secured) | 24,562 |  | 0
| 26,229 |  | 11,667

Hire purchase liabilities are secured on the asset being purchased through the hire purchase contract.
All monies due or to become due are secured by fixed and floating charges over the undertaking and all property and assets present and future including goodwill, book debts, uncalled capital buildings, fixtures, fixed plant and machinery.

#### 7. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
90,000 Ordinary shares of £ 1.00 each | 90,000 |  | 90,000

#### 8. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

| 2025 |  | 2024
| £ |  | £
within one year | 93,500 |  | 93,500
between one and five years | 31,167 |  | 124,667
| 124,667 |  | 218,167