| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2024 |
| for |
| WESTWAY ESTATE MANAGEMENT LIMITED |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 December 2024 |
| for |
| WESTWAY ESTATE MANAGEMENT LIMITED |
| WESTWAY ESTATE MANAGEMENT LIMITED (REGISTERED NUMBER: 12250555) |
| Contents of the Financial Statements |
| for the year ended 31 December 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Accountants' Report | 5 |
| WESTWAY ESTATE MANAGEMENT LIMITED |
| Company Information |
| for the year ended 31 December 2024 |
| Directors: |
| Secretary: |
| Registered office: |
| Registered number: |
| Accountants: |
| New Derwent House |
| 69-73 Theobalds Road |
| London |
| WC1X 8TA |
| WESTWAY ESTATE MANAGEMENT LIMITED (REGISTERED NUMBER: 12250555) |
| Balance Sheet |
| 31 December 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| Current assets |
| Debtors | 4 |
| Cash at bank |
| Creditors |
| Amounts falling due within one year | 5 |
| Net current liabilities | ( |
) | ( |
) |
| Total assets less current liabilities | ( |
) | ( |
) |
| Capital and reserves |
| Called up share capital | 7 |
| Retained earnings | ( |
) | ( |
) |
| Shareholders' funds | ( |
) | ( |
) |
| 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 were approved by the Board of Directors and authorised for issue on |
| WESTWAY ESTATE MANAGEMENT LIMITED (REGISTERED NUMBER: 12250555) |
| Notes to the Financial Statements |
| for the year ended 31 December 2024 |
| 1. | Statutory information |
| Westway Estate Management Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | Accounting policies |
| Basis of preparing the financial statements |
| Turnover |
| Turnover relates to service charge demanded during the period and is measured at the fair value of the consideration received or receivable, excluding value added tax and other sales taxes. |
| Financial instruments |
| Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument. |
| Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due. |
| Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts. |
| Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. |
| 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. |
| 3. | Employees and directors |
| The average number of employees during the year was NIL (2023 - NIL). |
| 4. | Debtors: amounts falling due within one year |
| 2024 | 2023 |
| £ | £ |
| Service charge debtors |
| VAT |
| Prepayments and accrued income |
| Managing agent account |
| WESTWAY ESTATE MANAGEMENT LIMITED (REGISTERED NUMBER: 12250555) |
| Notes to the Financial Statements - continued |
| for the year ended 31 December 2024 |
| 5. | Creditors: amounts falling due within one year |
| 2024 | 2023 |
| £ | £ |
| Service charge creditors |
| Amounts owed to group undertakings |
| VAT | - | 5,291 |
| Other creditors |
| Service charge due to tenants | 150,968 | 140,074 |
| Accruals and deferred income |
| 6. | Secured debts |
| There is a fixed and floating charge over all assets of the company in relation to a third party loan entered into by the parent entity. |
| 7. | Called up share capital |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Ordinary | 1 | 1 | 1 |
| 8. | Related party disclosures |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
| Accountants' Report to the Board of Directors |
| on the Unaudited Financial Statements of |
| Westway Estate Management Limited |
| The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies. |
| In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Westway Estate Management Limited for the year ended 31 December 2024 which comprise the Profit and Loss Account, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us. |
| This report is made solely to the Board of Directors of Westway Estate Management Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Westway Estate Management Limited and state those matters that we have agreed to state to the Board of Directors of Westway Estate Management Limited, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
| It is your duty to ensure that Westway Estate Management 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 loss of Westway Estate Management Limited. You consider that Westway Estate Management 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 Westway Estate Management 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. |
| New Derwent House |
| 69-73 Theobalds Road |
| London |
| WC1X 8TA |