Westfield Caledonian Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: SC199151

Westfield Caledonian Limited

Filleted Unaudited Financial Statements

30 September 2024

Westfield Caledonian Limited

Financial Statements

Period from 1 April 2024 to 30 September 2024

Contents	Page

Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements	1

Statement of financial position	2

Notes to the financial statements	4

Westfield Caledonian Limited

Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Westfield Caledonian Limited

Period from 1 April 2024 to 30 September 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Westfield Caledonian Limited for the period ended 30 September 2024, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at www.icas.com/accountspreparationguidance. This report is made solely to the Board of Directors of Westfield Caledonian Limited, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of Westfield Caledonian Limited and state those matters that we have agreed to state to you, as a body, in this report in accordance with the requirements of ICAS as detailed at www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Westfield Caledonian Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Westfield Caledonian 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 profit of Westfield Caledonian Limited. You consider that Westfield Caledonian Limited is exempt from the statutory audit requirement for the period. We have not been instructed to carry out an audit or a review of the financial statements of Westfield Caledonian 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.

GILLILAND & COMPANY Chartered Accountants

216 West George Street Glasgow G2 2PQ

22 October 2025

Westfield Caledonian Limited

Statement of Financial Position

30 September 2024

	30 Sep 24		31 Mar 24
Note	£	£	£

Fixed assets

Tangible assets	5		171,101	198,518

Current assets

Stocks		30,626	6,168
Debtors	6	139,850	199,873
Cash at bank and in hand		469,005	355,798
		---------	---------
		639,481	561,839

Creditors: amounts falling due within one year	7	240,095		232,280
		---------		---------
Net current assets			399,386	329,559
			---------	---------
Total assets less current liabilities			570,487	528,077

Creditors: amounts falling due after more than one year	8		3,470	11,806

Provisions

Taxation including deferred tax	14,862	16,615
	---------	---------
Net assets	552,155	499,656
	---------	---------

Westfield Caledonian Limited

Statement of Financial Position (continued)

30 September 2024

	30 Sep 24		31 Mar 24
Note	£	£	£

Capital and reserves

Called up share capital	2,000	2,000
Share premium account	10,000	10,000
Capital redemption reserve	10,001	10,001
Other reserves	69,740	69,740
Profit and loss account	460,414	407,915
	---------	---------
Shareholders funds	552,155	499,656
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the period ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

These financial statements were approved by the board of directors and authorised for issue on 22 October 2025 , and are signed on behalf of the board by:

Mr W Leitch

Director

Company registration number: SC199151

Westfield Caledonian Limited

Notes to the Financial Statements

Period from 1 April 2024 to 30 September 2024

1. General information

The company is a private company limited by shares, registered in Scotland. The address of the registered office is 4 Mollins Court, Westfield, Cumbernauld, Glasgow, G68 9HP.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Reporting period

The company is presenting the financial statements for a period of six months. Comparative amounts are therefore not comparable.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Tenants Improvements	-	25% straight line
Laboratory Equipment	-	33% straight line
Plant & Machinery	-	33% straight line
Fixtures & Fittings	-	20% straight line
Motor Vehicles	-	30% reducing balance

Computer Equipment	-	33% straight line
Laboratory Fit-out	-	25% straight line

Work in progress

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either 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.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the period amounted to 16 (2024: 15 ).

5. Tangible assets

	Laboratory Equipment	Plant and machinery	Fixtures and fittings	Motor vehicles	Lab Fit-Out	Total
	£	£	£	£	£	£
Cost
At 1 Apr 2024	44,719	61,456	61,882	218,376	59,370	445,803
Additions	–	–	118	–	1,047	1,165
	--------	--------	--------	---------	--------	---------
At 30 Sep 2024	44,719	61,456	62,000	218,376	60,417	446,968
	--------	--------	--------	---------	--------	---------
Depreciation
At 1 Apr 2024	41,055	49,829	57,854	86,899	11,648	247,285
Charge for the period	741	2,428	326	19,384	5,703	28,582
	--------	--------	--------	---------	--------	---------
At 30 Sep 2024	41,796	52,257	58,180	106,283	17,351	275,867
	--------	--------	--------	---------	--------	---------
Carrying amount
At 30 Sep 2024	2,923	9,199	3,820	112,093	43,066	171,101
	--------	--------	--------	---------	--------	---------
At 31 Mar 2024	3,664	11,627	4,028	131,477	47,722	198,518
	--------	--------	--------	---------	--------	---------

6. Debtors

	30 Sep 24	31 Mar 24
	£	£
Trade debtors	122,272	186,543
Other debtors	17,578	13,330
	---------	---------
	139,850	199,873
	---------	---------

7. Creditors: amounts falling due within one year

	30 Sep 24	31 Mar 24
	£	£
Trade creditors	31,853	47,000
Corporation tax	100,307	64,931
Social security and other taxes	52,027	51,640
Other creditors	55,908	68,709
	---------	---------
	240,095	232,280
	---------	---------

8. Creditors: amounts falling due after more than one year

	30 Sep 24	31 Mar 24
	£	£
Other creditors	3,470	11,806
	-------	--------

9. Controlling party

The company is under the control of the director during the current and prior periods.