Westrade Group Limited Company accounts

COMPANY REGISTRATION NUMBER: 01627809

Westrade Group Limited

Unaudited Financial Statements

31 December 2024

Westrade Group Limited

Financial Statements

Year ended 31 December 2024

Contents	Page

Director's report	1

Statement of income and retained earnings	2

Statement of financial position	3

Notes to the financial statements	5

The following pages do not form part of the financial statements

Chartered certified accountants report to the director on the preparation of the unaudited statutory financial statements	10

Westrade Group Limited

Director's Report

Year ended 31 December 2024

The director presents his report and the unaudited financial statements of the company for the year ended 31 December 2024 .

Director

The director who served the company during the year was as follows:

Mr P M Harwood

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

This report was approved by the board of directors on 26 September 2025 and signed on behalf of the board by:

Mr P M Harwood
Director

Registered office:

Printing House

66 Lower Road

Harrow

United Kingdom

HA2 0DH

Westrade Group Limited

Statement of Income and Retained Earnings

Year ended 31 December 2024

	2024	2023
Note	£	£
Turnover	1,281,306	1,078,136

Cost of sales	649,990	586,412
	------------	------------
Gross profit	631,316	491,724

Administrative expenses	513,798	412,485
	----------	----------
Operating profit	117,518	79,239

Other interest receivable and similar income		1	5
Interest payable and similar expenses		29,833	32,378
		----------	----------
Profit before taxation	5	87,686	46,866

Tax on profit	25,434	12,693
	--------	--------
Profit for the financial year and total comprehensive income	62,252	34,173
	--------	--------

Dividends paid and payable	( 62,000)	( 38,300)

Retained earnings at the start of the year	2,171	6,298
	--------	--------
Retained earnings at the end of the year	2,423	2,171
	--------	--------

All the activities of the company are from continuing operations.

Westrade Group Limited

Statement of Financial Position

31 December 2024

	2024		2023
Note	£	£	£	£

Fixed assets

Tangible assets	6		1,556		2,632

Current assets

Debtors	7	648,699	770,259
Cash at bank and in hand		12,810	27,322
		----------	----------
		661,509	797,581

Creditors: amounts falling due within one year	8	511,577		690,386
		----------		----------
Net current assets			149,932		107,195
			----------		----------
Total assets less current liabilities			151,488		109,827

Creditors: amounts falling due after more than one year	9		148,465		107,056

Provisions

Taxation including deferred tax	500	500
	----------	----------
Net assets	2,523	2,271
	----------	----------

Capital and reserves

Called up share capital	10	35	35
Capital redemption reserve		65	65
Profit and loss account		2,423	2,171
		-------	-------
Shareholder funds		2,523	2,271
		-------	-------

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

For the year ending 31 December 2024 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 year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Westrade Group Limited

Statement of Financial Position (continued)

31 December 2024

These financial statements were approved by the board of directors and authorised for issue on 26 September 2025 , and are signed on behalf of the board by:

Mr P M Harwood
Director

Company registration number: 01627809

Westrade Group Limited

Notes to the Financial Statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Printing House, 66 Lower Road, Harrow, HA2 0DH, United Kingdom.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

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

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Office equipment	-	20% straight line

Impairment of fixed assets

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. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 7 (2023: 6 ).

5. Profit before taxation

Profit before taxation is stated after charging:

	2024	2023
	£	£
Depreciation of tangible assets	1,076	1,062
	-------	-------

6. Tangible assets

	Equipment	Total
	£	£
Cost
At 1 January 2024 and 31 December 2024	12,298	12,298
	--------	--------
Depreciation
At 1 January 2024	9,666	9,666
Charge for the year	1,076	1,076
	--------	--------
At 31 December 2024	10,742	10,742
	--------	--------
Carrying amount
At 31 December 2024	1,556	1,556
	--------	--------
At 31 December 2023	2,632	2,632
	--------	--------

7. Debtors

	2024	2023
	£	£
Trade debtors	112,665	319,761
Amounts owed by group undertakings	87,007	87,007
Prepayments and accrued income	246,612	249,353
Other debtors	202,415	114,138
	----------	----------
	648,699	770,259
	----------	----------

8. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	104,903	100,547
Trade creditors	36,685	97,108
Accruals and deferred income	84,400	107,500
Corporation tax	102,730	69,985
Social security and other taxes	147,909	63,834
Director loan accounts	14	84
Other creditors	34,936	251,328
	----------	----------
	511,577	690,386
	----------	----------

Within bank loans and overdrafts is a Coronavirus Business Interruption Loan which is secured by a government guarantee.

9. Creditors: amounts falling due after more than one year

	2024	2023
	£	£
Bank loans and overdrafts	148,465	107,056
	----------	----------

Within bank loans and overdrafts is a Coronavirus Business Interruption Loan which is secured by a government guarantee.

10. Called up share capital

Issued, called up and fully paid

	2024		2023
	No.	£	No.	£
Ordinary shares of £ 1 each	35	35	35	35
	----	----	----	----

11. Related party transactions

Transactions entered in to with entities under the common control of the directors of this company were as follows: Chess Business Group Limited At the balance sheet date £21,277 (2023 - £63,164 owed to) owed by Chess Business Group Limited in respect of a short term interest free loan.

12. Controlling party

The directors regard The Ebury Group Limited, registered in England and Wales under company number 05316231 at Printing House, 66 Lower Road, Harrow, HA2 0DH, as the company's ultimate parent company.

Westrade Group Limited

Management Information

Year ended 31 December 2024

The following pages do not form part of the financial statements.

Westrade Group Limited

Chartered Certified Accountants Report to the Director on the Preparation of the Unaudited Statutory Financial Statements of Westrade Group Limited

Year ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Westrade Group Limited for the year ended 31 December 2024, which comprise the statement of income and retained earnings, statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at www.accaglobal.com/en/member/professional-standards/rules-standards/acca-rulebook.html. This report is made solely to the director of Westrade Group Limited in accordance with the terms of our engagement letter dated 30 September 2018. Our work has been undertaken solely to prepare for your approval the financial statements of Westrade Group Limited and state those matters that we have agreed to state to you in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Westrade Group Limited and its director for our work or for this report.

It is your duty to ensure that Westrade Group Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Westrade Group Limited. You consider that Westrade Group Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Westrade Group Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

ABBOTS Chartered Certified Accountants

Printing House 66 Lower Road Harrow HA2 0DH