The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

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

Westgate Healthcare Properties Limited is a private company limited by shares incorporated in England and Wales. The registered office and business address is at Unit 3 Devonshire Business Park, Chester Road, Borehamwood, Hertfordshire, WD6 1NA.

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 the revaluation of freehold properties at fair value. The principal accounting policies adopted are set out below.

The financial statements have been prepared on a going concern basis notwithstanding the excess of current net liabilities over current net assets. Because of the forbearance of the company's creditors and their willingness to support the company, the directors are confident that the company will be able to continue its activities for the foreseeable future.

Turnover represents the total invoice value, excluding VAT, of rents and service charges receivable from the company's freehold land and buildings and is recognised when the company obtains an unconditional right to consideration in exchange for their performance under any contracts or leases.

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Freehold buildings are recognised on the date contracts are exchanged.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold property is held in the accounts under the revaluation model. Revaluations will be made with sufficient regularity to ensure that the carrying amount does not differ materially from that which would be determined using fair value at the end of the reporting period.

No depreciation is provided on the company’s freehold buildings. Given the length of life of the buildings and because they are maintained to a high standard, it is the opinion of the directors that the residual values would be sufficiently high to make any depreciation charge immaterial.

The fair value of the freehold land and buildings has been arrived at on the basis of a valuation carried out at 31 December 2024 by the directors. The valuation was made on an open market basis by reference to mark evidence of transaction prices for similar properties.

The surplus or deficit on book value is transferred to the revaluation reserve, except that a deficit which is in excess of any previously recognised surplus over depreciated cost relating to the same property, or the reversal of such a deficit, is charged (or credited) to the profit and loss account. A deficit which represents a clear consumption of economic benefits is charged to the profit and loss account regardless of any such previous surplus.

On disposal or recognition of a provision for impairment of a revalued fixed asset any related balance remaining in the revaluation reserve is also transferred to the profit and loss account as a movement on reserves.

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.

Cash and cash equivalents include cash in hand and deposits held at call with banks.

A financial instrument is a contract that gives rise to a financial asset of one entity and a financial liability of another entity. They are recognised in the company's balance sheet 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, bank loans and loans from fellow group that are classified as debt, 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 payments 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.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest 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 tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

Borrowing costs

All borrowing costs, including interest incurred on loans used to finance construction projects, are recognised in the profit and loss over the term of the borrowings.

The directors make estimates and assumptions concerning the future. The resulting accounting estimate will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

The company carries its freehold land and property under the revaluation model. The land and buildings have been valued on an open value basis at 31 December 2024 by the directors. The valuations are made on an open market value basis by reference to market evidence of transaction prices for similar properties.

There were no employees during the current year or the prior year.

The company has three loans with Metro Bank PLC.

The first loan amounted to £443,299 at 31 December 2024 and is secured by fixed and floating charges over the company's assets including one of its freehold properties, a cross company guarantee from Westgate Healthcare Group Limited and a personal guarantee from Mr P.S. Patel, one of the directors.

During the year, interest was payable on the loan at a rate of 3% per annum above the Base Rate. Repayment of the loan commenced on 22 January 2017 and it will be repaid by 22 December 2036.

The second loan amounted to £350,467 at 31 December 2024 and is secured by fixed and floating charges over the company's assets including one of its freehold properties, a cross company guarantee from Westgate Healthcare Group Limited and a personal guarantee from Mr P.S. Patel.

During the year, interest was payable on the loan at 3% per annum above the Base Rate. Repayment of the loan commenced on 28 February 2017 and it will be repaid by 31 January 2032.

A third loan amounted to £359,948 at 31 December 2024 and is secured by fixed and floating charges over the company's assets including one of its freehold properties and a personal guarantee from Mr P.S. Patel.

During the year, interest was payable on the loan at 3% per annum above the Base Rate. Repayment of the loan commenced on 5 February 2019 and it will be repaid by 5 January 2038.

Deferred tax assets and liabilities are offset where the company has a legally enforceable right to do so. The following is the analysis of the deferred tax balances (after offset) for financial reporting purposes:

Deferred tax assets and liabilities are offset where the company has a legally enforceable right to do so.

The expected net reversal of deferred tax assets and liabilities in 2025 cannot be reliably estimated.

There is no expiry date on timing differences.

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

The company has taken advantage of the exemption in FRS 102 Section 33 - Related Party Disclosures, from the requirement to disclose transactions with wholly owned companies within the same group.true

The parent company is Westgate Healthcare Group Limited ('WHGL'), a company registered in England and Wales.

Consolidated  financial statements are prepared by WHGL, copies of which are available from the company at the registered office.