REGISTERED NUMBER: 07682416 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2025

FOR

WESTABY'S LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr J R L Westaby

Mr A J Westaby

Mr E J Westaby

REGISTERED OFFICE:

Cape Farm

Sheriff Hutton

York

YO60 6RT

REGISTERED NUMBER:

07682416 (England and Wales)

ACCOUNTANTS:

Sowerby

Chartered Accountants

Beckside Court

Annie Reed Road

Beverley

East Yorkshire

HU17 0LF

FIXED ASSETS

Tangible assets

4

132,451

136,627

CURRENT ASSETS

Stocks

93,747

88,747

Debtors

5

326,597

309,468

Cash at bank and in hand

307,372

443,597

727,716

841,812

CREDITORS

Amounts falling due within one year

6

521,679

551,324

NET CURRENT ASSETS

206,037

290,488

TOTAL ASSETS LESS CURRENT LIABILITIES

338,488

427,115

CREDITORS

Amounts falling due after more than one year

7

(6,183

)

(36,578

)

PROVISIONS FOR LIABILITIES

(33,113

)

(32,716

)

NET ASSETS

299,192

357,821

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

299,092

357,721

SHAREHOLDERS' FUNDS

299,192

357,821

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 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.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 September 2025 and were signed on its behalf by:

Mr J R L Westaby - Director

1.	STATUTORY INFORMATION

Westaby's Limited is a private company limited by shares and incorporated and domiciled in England. It has its registered office and principal place of business at Cape Farm, Sheriff Hutton, York, YO60 6RT.

The principal activity of the company is engineering including retail of associated parts.

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

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.

Having regard to liquidity risk, current market conditions and other factors affecting the company, the use of the going concern basis of accounting is appropriate as, in the opinion of the directors, there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

The directors, having taken into the factors discussed above as well as the uncertainties of the current economic environment, have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

Turnover

Turnover is the amount derived from ordinary activities, measured at the fair value of the consideration received or receivable. Turnover excludes value added tax and trade discounts.

Turnover from the sale of goods is recognised at the point of sale.

Turnover from services is recognised on completion of service, or when those services span the year end date, by reference to the stage of completion at the balance sheet date.

Tangible fixed assets

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

Plant and machinery etc

-

33% on reducing balance, 25% on a reducing balance basis and 15% on reducing balance

Stocks

Stocks are measured at the lower of cost, using the first in first out method, and selling price less costs to complete and sell.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2024 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 March 2024

190,687

99,187

3,274

293,148

Additions

14,150

7,100

855

22,105

At 28 February 2025

204,837

106,287

4,129

315,253

DEPRECIATION

At 1 March 2024

91,735

62,427

2,359

156,521

Charge for year

15,711

10,079

491

26,281

At 28 February 2025

107,446

72,506

2,850

182,802

NET BOOK VALUE

At 28 February 2025

97,391

33,781

1,279

132,451

At 29 February 2024

98,952

36,760

915

136,627

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

217,791

213,928

Amounts owed by group undertakings

92,879

95,407

Prepayments

15,927

133

326,597

309,468

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

30,892

28,535

Trade creditors

246,701

355,794

Tax

28,788

24,775

Social security and other taxes

5,083

3,611

VAT

18,173

19,567

Other creditors

759

794

Directors' current accounts

179,604

108,838

Accrued expenses

11,679

9,410

521,679

551,324

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 1-2 years

6,183

29,514

Bank loans - 2-5 years

-

7,064

6,183

36,578

8.	RELATED PARTY DISCLOSURES

At the balance sheet date the company owed its directors £179,605 (2024: £108,838). The loan is free from interest and repayable on demand.

The company operates from premises owned by an unincorporated partnership of which the directors are both partners. The company is responsible for the expenses incurred while operating from these premises but pays no rent.