Westgate (York) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 04389289 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 24 DECEMBER 2024

FOR

WESTGATE (YORK) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

D Rhodes

G Thomas

J W Shanahan

M A Halford

M J Cross

SECRETARY:

Mulberry PM Ltd

REGISTERED OFFICE:

1 Bootham

York

North Yorkshire

YO30 7BN

REGISTERED NUMBER:

04389289 (England and Wales)

ACCOUNTANTS:

Fortus Limited

Business Advisors & Accountants

Equinox House

Clifton Park, Shipton Road

York

YO30 5PA

CURRENT ASSETS

Debtors

4

2,025

Cash at bank

10,950

-

12,975

2,025

CREDITORS

Amounts falling due within one year

5

10,950

-

NET CURRENT ASSETS

2,025

TOTAL ASSETS LESS CURRENT LIABILITIES

2,025

RESERVES

Other reserves

8

114

Income and expenditure account

8

1,911

2,025

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 24 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 24 December 2024 in accordance with Section 476 of the Companies Act 2006.

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 surplus or deficit 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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 September 2025 and were signed on its behalf by:

M J Cross - Director

1.	STATUTORY INFORMATION

Westgate (York) Limited is a private company, limited by guarantee , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements reflect the company's activity as head lessee collecting rent from the apartment lessees and paying ground rent to the freeholder. Its activity as manager of the common parts and as trustee of the service charge funds is not reported here.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable and represents invoiced during the year for ground rents and interest due from tenants.

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to surplus or deficit on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Other debtors

2,025

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade creditors

10,950

-

6.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2024

2023

£

Within one year

17,100

Between one and five years

68,400

In more than five years

16,621,200

16,638,300

16,706,700

16,723,800

The commitment relates to the commitment to pay the landlord the ground rent under the headlease with a contractual term of 999 years commencing 1 January 2002.

The above commitment to pay the landlord is covered by the ground rents collected from the lessees on an annual basis. There is a 999 year lease in place with each lessee agreeing to this commitment.

7.	MEMBERS LIABILITY

The company is limited by guarantee, not having a share capital and consequently the liability of members is limited, subject to an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding £1.

8.

RESERVES

Income

and

expenditure

Other

account

reserves

Totals

£

At 25 December 2023

1,911

114

2,025

Surplus for the year

-

At 24 December 2024

1,911

114

2,025

Other reserves relates to the Guarantee fund.

The members have paid up their guarantees in full with the fund standing at £114.

The company's articles prohibit distribution of any profits to its members, who therefore have no equity interest in the company.

9.	RELATED PARTY DISCLOSURES

No transactions with related parties were undertaken such as are required to be disclosed under the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.