WESTRARE LIMITED
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Company Registration No. 02379692 (England and Wales)
WESTRARE LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
WESTRARE LIMITED
BALANCE SHEET
AS AT
31 MARCH 2025
31 March 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
539
643
Current assets
Stocks
500,000
500,000
Debtors
4
29,866
46,215
529,866
546,215
Creditors: amounts falling due within one year
5
(1,978,503)
(1,978,973)
Net current liabilities
(1,448,637)
(1,432,758)
Net liabilities
(1,448,098)
(1,432,115)
Capital and reserves
Called up share capital
6
4
4
Profit and loss reserves
(1,448,102)
(1,432,119)
Total equity
(1,448,098)
(1,432,115)

For the financial year ended 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

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

The financial statements were approved by the board of directors and authorised for issue on 10 November 2025 and are signed on its behalf by:
P McLaughlin
Director
Company registration number 02379692 (England and Wales)
WESTRARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
- 2 -
1
Accounting policies
Company information

Westrare Limited is a private company limited by shares incorporated in England and Wales. The registered office is Castle Chambers, 43 Castle Street, Liverpool, L2 9TL.

1.1
Accounting convention

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 a mounts in these financial statements are rounded to the nearest £.

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

1.2
Going concern

The accounts have been prepared on a going concern basis. In making this going concern assessment, all available information has been taken into account by the directors, who believe the company has sufficient resources to continue to operate for at least twelve months from the date of approval of these financial statements.true

The company is reliant upon the continued support of its directors and shareholders. The directors and other funders have given assurance as to their continued support. Interest costs for funders are met from the ongoing rental income of the company. The financial statements do not include the adjustments that would result if the going concern basis of preparation were to become no longer appropriate.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

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:

Plant and machinery
15% reducing balance
Office equipment
15% reducing balance
Computer equipment
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of fixed 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.

WESTRARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 3 -
1.5
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments 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

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.

Classification of financial liabilities

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

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares 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 paymen ts 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. A m ounts 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.

WESTRARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
1
Accounting policies
(Continued)
- 4 -
1.8
Equity instruments

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.

1.9
Taxation

The tax expense represents the tax currently payable.

Current 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.

1.10
Leases

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
3
3
3
Tangible fixed assets
Plant and machinery
Office equipment
Computer equipment
Total
£
£
£
£
Cost
At 1 April 2024 and 31 March 2025
3,167
21,117
3,919
28,203
Depreciation and impairment
At 1 April 2024
3,153
20,559
3,848
27,560
Depreciation charged in the year
2
84
18
104
At 31 March 2025
3,155
20,643
3,866
27,664
Carrying amount
At 31 March 2025
12
474
53
539
At 31 March 2024
14
558
71
643
WESTRARE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
- 5 -
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Other debtors
29,866
46,215
5
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
-
0
120
Other creditors
1,978,503
1,978,853
1,978,503
1,978,973
6
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A shares of 1p each
100
100
1
1
Ordinary B shares of 1p each
100
100
1
1
Ordinary C shares of 1p each
100
100
1
1
Ordinary D shares of 1p each
100
100
1
1
400
400
4
4

The company has four classes of shares each of which carry voting rights, and entitlement to dividends as and when proposed.

7
Related party transactions

The company has a creditor balance of £903,072 (2024 - £903,027) owed to Benridge Care Homes Limited, a connected company by virtue of the shared directorship of P McLaughlin.

2025-03-31 2024-04-01 false false false 10 November 2025 CCH Software CCH Accounts Production 2025.300 No description of principal activity P McLaughlin J Scott R Cass Mr P McLaughlin 02379692 2024-04-01 2025-03-31 02379692 2025-03-31 02379692 2024-03-31 02379692 core:PlantMachinery 2025-03-31 02379692 core:FurnitureFittings 2025-03-31 02379692 core:ComputerEquipment 2025-03-31 02379692 core:PlantMachinery 2024-03-31 02379692 core:FurnitureFittings 2024-03-31 02379692 core:ComputerEquipment 2024-03-31 02379692 core:WithinOneYear 2025-03-31 02379692 core:WithinOneYear 2024-03-31 02379692 core:CurrentFinancialInstruments 2025-03-31 02379692 core:CurrentFinancialInstruments 2024-03-31 02379692 core:ShareCapital 2025-03-31 02379692 core:ShareCapital 2024-03-31 02379692 core:RetainedEarningsAccumulatedLosses 2025-03-31 02379692 core:RetainedEarningsAccumulatedLosses 2024-03-31 02379692 core:ShareCapitalOrdinaryShareClass1 2025-03-31 02379692 core:ShareCapitalOrdinaryShareClass1 2024-03-31 02379692 core:ShareCapitalOrdinaryShareClass2 2025-03-31 02379692 core:ShareCapitalOrdinaryShareClass2 2024-03-31 02379692 core:ShareCapitalOrdinaryShareClass3 2025-03-31 02379692 core:ShareCapitalOrdinaryShareClass3 2024-03-31 02379692 core:ShareCapitalOrdinaryShareClass4 2025-03-31 02379692 core:ShareCapitalOrdinaryShareClass4 2024-03-31 02379692 core:ShareCapitalOrdinaryShares 2025-03-31 02379692 core:ShareCapitalOrdinaryShares 2024-03-31 02379692 bus:CompanySecretaryDirector1 2024-04-01 2025-03-31 02379692 core:PlantMachinery 2024-04-01 2025-03-31 02379692 core:FurnitureFittings 2024-04-01 2025-03-31 02379692 core:ComputerEquipment 2024-04-01 2025-03-31 02379692 2023-04-01 2024-03-31 02379692 core:PlantMachinery 2024-03-31 02379692 core:FurnitureFittings 2024-03-31 02379692 core:ComputerEquipment 2024-03-31 02379692 2024-03-31 02379692 core:CurrentFinancialInstruments core:WithinOneYear 2025-03-31 02379692 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 02379692 bus:OrdinaryShareClass1 2024-04-01 2025-03-31 02379692 bus:OrdinaryShareClass2 2024-04-01 2025-03-31 02379692 bus:OrdinaryShareClass3 2024-04-01 2025-03-31 02379692 bus:OrdinaryShareClass4 2024-04-01 2025-03-31 02379692 bus:OrdinaryShareClass1 2025-03-31 02379692 bus:OrdinaryShareClass1 2024-03-31 02379692 bus:OrdinaryShareClass2 2025-03-31 02379692 bus:OrdinaryShareClass2 2024-03-31 02379692 bus:OrdinaryShareClass3 2025-03-31 02379692 bus:OrdinaryShareClass3 2024-03-31 02379692 bus:OrdinaryShareClass4 2025-03-31 02379692 bus:OrdinaryShareClass4 2024-03-31 02379692 bus:AllOrdinaryShares 2025-03-31 02379692 bus:AllOrdinaryShares 2024-03-31 02379692 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 02379692 bus:FRS102 2024-04-01 2025-03-31 02379692 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 02379692 bus:Director1 2024-04-01 2025-03-31 02379692 bus:Director2 2024-04-01 2025-03-31 02379692 bus:Director3 2024-04-01 2025-03-31 02379692 bus:CompanySecretary1 2024-04-01 2025-03-31 02379692 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 02379692 bus:FullAccounts 2024-04-01 2025-03-31 xbrli:pure xbrli:shares iso4217:GBP