REGISTERED NUMBER: 03616835 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Westlite Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr G M Gurr

Mrs N H Y Gurr

SECRETARY:

Mrs N H Y Gurr

REGISTERED OFFICE:

145 East Reach

Taunton

Somerset

TA1 3HT

REGISTERED NUMBER:

03616835 (England and Wales)

ACCOUNTANTS:

R T Marke & Co Ltd

Chartered Accountants

69 High Street

Bideford

Devon

EX39 2AT

FIXED ASSETS

Intangible assets

5

45,000

60,000

Tangible assets

6

2,287

3,018

47,287

63,018

CURRENT ASSETS

Stocks

15,450

33,000

Debtors

7

74,459

43,580

Cash at bank and in hand

76,616

180,179

166,525

256,759

CREDITORS

Amounts falling due within one year

59,479

84,680

NET CURRENT ASSETS

107,046

172,079

TOTAL ASSETS LESS CURRENT LIABILITIES

154,333

235,097

PROVISIONS FOR LIABILITIES

-

30

NET ASSETS

154,333

235,067

CAPITAL AND RESERVES

Called up share capital

9

1,250

1,250

Retained earnings

153,083

233,817

SHAREHOLDERS' FUNDS

154,333

235,067

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 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 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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2025 and were signed on its behalf by:

Mr G M Gurr - Director

Mrs N H Y Gurr - Director

1.	STATUTORY INFORMATION

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

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

The principal accounting policies adopted in the preparation of the financial statements are set out below and remain unchanged from the previous period, and also have been consistently applied within the same accounts.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill representing the excess of the purchase price over the fair value of the net assets of undertakings acquired is capitalised in the balance sheet and is amortised by equal annual instalments over the expected useful economic life of 10 years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Improvements to property

-

20% straight line

Fixtures and fittings

-

15% on reducing balance

Computer equipment

-

33% on reducing balance

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 by management.

Stocks

Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items.

Financial instruments

Basic financial instruments with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments

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.

Going concern

The directors are considering the possibility of ceasing to trade within 12 months from the date of approval of these accounts, and therefore have not given detailed consideration to a period of 12 months from the date of approval.

As no formal decision has been made in this regard, the directors continue to adopt the going concern basis of accounting. The financial statements do not include any adjustments that would result from an inability to meet obligations as they fall due.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 6 ) .

5.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2024

and 31 December 2024

150,000

AMORTISATION

At 1 January 2024

90,000

Amortisation for year

15,000

At 31 December 2024

105,000

NET BOOK VALUE

At 31 December 2024

45,000

At 31 December 2023

60,000

6.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2024

and 31 December 2024

10,866

DEPRECIATION

At 1 January 2024

7,848

Charge for year

731

At 31 December 2024

8,579

NET BOOK VALUE

At 31 December 2024

2,287

At 31 December 2023

3,018

7.

DEBTORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Other debtors

4,493

-

8.	LEASING AGREEMENTS

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

2024

2023

£

£

Within one year

5,722

23,775

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

500

'A'

£1

500

500

500

'B'

£1

500

500

125

'C'

£1

125

125

125

'D'

£1

125

125

1,250

1,250

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2024 and 31 December 2023:

2024

2023

£

£

Mr G M Gurr and Mrs N H Y Gurr

Balance outstanding at start of year

-

37,196

Amounts advanced

90,844

-

Amounts repaid

(33,334

)

(37,196

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

57,510

-

The maximum overdrawn balance during the year was £90,334.

Interest was charged on the loan at the official interest rate.