The directors of the company have elected not to include a copy of the income statement within the financial statements.true

For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

166 Westbourne Grove Limited is a private company limited by shares and is incorporated and domiciled in England. The registered office address is 2 Leman Street, London, E1W 9US.

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention modified to include investment properties at fair value. The principal accounting policies adopted are set out below

Turnover represents ground rent receivable from investment properties. Rent receivable from tenants are measured at fair value. Rental income is recognised in the period to which it arises on an accrual basis and in accordance with the terms of the lease.

Investment property, which is property held to earn rentals and/or for capital appreciation, is measured using the fair value model and stated at its fair value as the reporting end date. The surplus or deficit on revaluation is recognised in the income statement.

The fair value model is determined by the directors with the benefit of professional external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset.

Cash at bank and in hand are basic financial assets and include cash in hand.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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.

Basic financial liabilities, including creditors and loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

The average monthly number of persons (including directors) employed by the company during the year was:

No depreciation has been provided on the property.

On a historical cost basis the investment properties would have been included at an original cost of £9,508 (2023 - £9,508).

Included within amounts owed by group undertakings are loans that are unsecured, interest free, has no fixed date of repayment and is repayable on demand.

Included within amounts owed to group undertakings are loans that are unsecured, interest free, has no fixed date of repayment and is repayable on demand.

There is a single class of ordinary shares. There are no restrictions on the distribution of dividends and repayment of capital.

Investment property revaluation reserve relates to non-distributable reserves arising from revaluation of investment property less deferred tax.

Retained earnings represents accumulated comprehensive income for the year and prior periods less dividends paid.

The company has given a guarantee by a fixed and floating charge over its assets to secure the borrowings of its parent company Benchlevel Properties Limited. At the balance sheet dates Benchlevel Properties Limited's indebtedness in respect of this guarantee was £52,487,500 (2023 - £53,037,500).

The company has given a guarantee supported by a fixed and floating charge over its assets to secure the borrowings of its immediate parent company WBG Retail Limited. At the balance sheet date, WBG Retail Limited's indebtedness to its lenders was £6,273,750 (2023 - £6,373,750).

The company has taken advantage of the exemption available under section 1A C.35 of FRS 102 “Related party disclosures” whereby it has not disclosed transactions with the ultimate parent company or any wholly owned subsidiary undertaking of the group.

The following amounts were outstanding at the reporting end date:

The ultimate parent company is Benchlevel Properties Limited and its registered office is 2 Leman Street, London, E1W 9US.