REGISTERED NUMBER: 06249202 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

WESTCOTT LEACH LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

B Leach

SECRETARY:

Mrs B Perrett

REGISTERED OFFICE:

Unit 3 Deanland Business Park

Deanland Road

Golden Cross

Hailsham

East Sussex

BN27 3RP

REGISTERED NUMBER:

06249202 (England and Wales)

ACCOUNTANTS:

Watson Associates

30 - 34 North Street

Hailsham

East Sussex

BN27 1DW

FIXED ASSETS

Tangible assets

4

46,857

43,005

Investments

5

275

200

Investment property

6

91,181,012

86,869,860

91,228,144

86,913,065

CURRENT ASSETS

Debtors

7

8,019,551

7,614,729

Cash at bank

280,935

1,122,190

8,300,486

8,736,919

CREDITORS

Amounts falling due within one year

8

(4,409,720

)

(6,704,015

)

NET CURRENT ASSETS

3,890,766

2,032,904

TOTAL ASSETS LESS CURRENT LIABILITIES

95,118,910

88,945,969

CREDITORS

Amounts falling due after more than one year

9

(37,267,990

)

(32,911,766

)

PROVISIONS FOR LIABILITIES

(10,675,287

)

(10,370,537

)

NET ASSETS

47,175,633

45,663,666

CAPITAL AND RESERVES

Called up share capital

11

100

100

Revaluation reserve

12

29,353,047

29,964,518

Retained earnings

17,822,486

15,699,048

SHAREHOLDERS' FUNDS

47,175,633

45,663,666

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 director acknowledges his 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the director and authorised for issue on 30 September 2025 and were signed by:

B Leach - Director

1.	STATUTORY INFORMATION

Westcott Leach 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.

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 as modified by the revaluation of certain assets.

Turnover

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

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

-

20% on cost

Computer equipment

-

20% on cost

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, and loans to related parties.

Debt instruments that are payable or receivable within one year, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received; other debt instruments are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

Financial assets and liabilities are offset and the net amount reported in the balance sheet only when there is an 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.

Taxation

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

Impairment of non-current assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset,the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2024

67,266

Additions

13,585

At 31 December 2024

80,851

DEPRECIATION

At 1 January 2024

24,261

Charge for year

9,733

At 31 December 2024

33,994

NET BOOK VALUE

At 31 December 2024

46,857

At 31 December 2023

43,005

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 January 2024

200

Additions

75

At 31 December 2024

275

NET BOOK VALUE

At 31 December 2024

275

At 31 December 2023

200

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

86,869,860

Additions

5,126,446

Revaluations

(815,294

)

At 31 December 2024

91,181,012

NET BOOK VALUE

At 31 December 2024

91,181,012

At 31 December 2023

86,869,860

Investment property comprises freehold land and buildings, The fair value of the investment property has been arrived at on the basis of a valuation carried out by the Director with input from Chartered Surveyors, who are not connected to the company.

7.

DEBTORS

2024

2023

£

£

Amounts falling due within one year:

Trade debtors

1,016,642

843,436

Amounts owed by group undertakings

2,911,288

2,690,734

Other debtors

52,702

205,512

3,980,632

3,739,682

Amounts falling due after more than one year:

Amounts owed by group undertakings

4,038,919

3,875,047

Aggregate amounts

8,019,551

7,614,729

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

64,295

2,502,370

Trade creditors

51,499

438,030

Amounts owed to group undertakings

1,441,989

1,372,462

Taxation and social security

608,000

182,494

Other creditors

2,243,937

2,208,659

4,409,720

6,704,015

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

20,849,940

16,573,208

Other creditors

16,418,050

16,338,558

37,267,990

32,911,766

The loans within creditors falling due within one year and creditors falling due after more than one year are secured by fixed charges over the company's assets.

10.	LEASING AGREEMENTS

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

2024

2023

£

£

Within one year

27,000

27,000

Between one and five years

108,000

108,000

In more than five years

1,458,000

1,485,000

1,593,000

1,620,000

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

£

100

Ordinary

£1

100

100

12.

RESERVES

Revaluation

reserve

£

At 1 January 2024

29,964,518

Transfer

(611,471

)

At 31 December 2024

29,353,047

13.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

An amount of £4,418,050 (2023: £16,338,559) was owed to the director at the balance sheet date. This loan is on an interest free basis and has no fixed date for repayment.

During the year the company charged the director £36,311 (2023: £28,861) for property management. No amounts were outstanding at the reporting date.