REGISTERED NUMBER: 13130212 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

WESTHAVEN DEVELOPMENTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

L A Hopper

H E H St George

REGISTERED OFFICE:

Ground Floor

Keble House

Southernhay Gardens

Exeter

Devon

EX1 1NT

REGISTERED NUMBER:

13130212 (England and Wales)

ACCOUNTANTS:

Gravita Western Limited

Keble House

Southernhay Gardens

Exeter

Devon

EX1 1NT

FIXED ASSETS

Tangible assets

5

4,552

28,545

Investments

6

1,550

800

6,102

29,345

CURRENT ASSETS

Stocks

1,756,678

1,607,595

Debtors

7

337,869

150,206

Cash at bank

68,887

94,164

2,163,434

1,851,965

CREDITORS

Amounts falling due within one year

8

(1,524,765

)

(1,235,428

)

NET CURRENT ASSETS

638,669

616,537

TOTAL ASSETS LESS CURRENT LIABILITIES

644,771

645,882

CREDITORS

Amounts falling due after more than one year

9

(620,000

)

(600,000

)

NET ASSETS

24,771

45,882

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

23,771

44,882

24,771

45,882

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 16 October 2025 and were signed on its behalf by:

L A Hopper - Director

1.	COMPANY INFORMATION

Westhaven Developments 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.

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

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared on the historical cost convention. The principal accounting policies adopted are set out below.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Residential properties and land

Turnover is recognised at legal completion in respect of the total proceeds of building and land sales. Turnover is measured at the fair value of consideration received or receivable and represents the amounts receivable for the property, net of VAT.

Construction contracts

Turnover is only recognised on a construction contract where the outcome can be estimated reliably.Turnover and costs are recognised by reference to the stage of completion of contract activity at the year-end date. This is normally measured by surveys of work performed to date. Contracts are only treated as construction contracts where they have been specifically negotiated for the construction of a property.

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

-

25% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Stock and work in progress are valued at the lower of cost and estimated selling price less costs to complete and sell; which is equivalent to the net realisable value. Costs comprise direct materials, direct labour costs and those overheads which have been incurred in bringing the stocks to their present location and condition. Management assess the costs and where required will provide against the stock.

Properties held for sale are stated at the lower of cost and net realisable value.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2024

13,277

27,795

1,047

42,119

Disposals

-

(27,795

)

-

(27,795

)

At 31 March 2025

13,277

-

1,047

14,324

DEPRECIATION

At 1 April 2024

5,783

7,383

408

13,574

Charge for year

3,319

-

262

3,581

Eliminated on disposal

-

(7,383

)

-

(7,383

)

At 31 March 2025

9,102

-

670

9,772

NET BOOK VALUE

At 31 March 2025

4,175

-

377

4,552

At 31 March 2024

7,494

20,412

639

28,545

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2024

800

Additions

750

At 31 March 2025

1,550

NET BOOK VALUE

At 31 March 2025

1,550

At 31 March 2024

800

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Amounts owed by group undertakings

213,000

135,675

Amounts recoverable on contracts

123,339

-

VAT

-

10,811

Prepayments

1,530

3,720

337,869

150,206

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Other loans

1,236,406

1,044,703

Trade creditors

73,605

43,007

Social security and other taxes

3,794

11,791

VAT

21,991

-

Other creditors

-

10,000

Directors' current accounts

1

18,663

Accruals and deferred income

188,968

107,264

1,524,765

1,235,428

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Directors' loan accounts

620,000

600,000

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Secured loans

1,236,406

307,000

There is a charge with Exeter Finance Limited dated 12 May 2023 over the freehold property known as 'land on the North side of Potter's Lodge, St. Issey, Wadebridge PL27 7QY.

There is also a charge with Warren Spokes dated 10 January 2025 over all of the freehold property known as ‘LongCarrow’.

11.	RELATED PARTY DISCLOSURES

There is a loan from a Director totalling £500,000 (2024: £500,000) at the year end. There is interest accruing on this loan, charged to the profit and loss account for the period in which it relates.

There is a loan from a Director totalling £120,000 (2024 £100,000) at the year end.There is interest accruing on this loan, charged to the profit and loss account for the period in which it relates.

During the year, a director had a current account with the company. At the balance sheet date the amount due from the company is £Nil (2024: £14,500).

During the year, a director had a current account with the company. At the balance sheet date the amount due from the company is £1 (2024: £4,163).

During the year a the company held a trading credit account with a related company. At the balance sheet date the amount due to the related company is £69,274 (2024: £Nil).

During the year a the company entered into a loan arrangement with a related company. At the balance sheet date the amount due from the related company is £138,750 (2024: £6,500).

During the year a the company entered into a loan arrangement with a related company. At the balance sheet date the amount due from the related company is £74,250 (2024: 129,175).