In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Westbrooke Developments Limited for the year ended 31 March 2025 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 the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.

This report is made solely to the board of directors of Westbrooke Developments Limited, as a body, in accordance with the terms of our engagement letter dated 29 November 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Westbrooke Developments Limited and state those matters that we have agreed to state to the board of directors of Westbrooke Developments Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Westbrooke Developments Limited and its board of directors as a body, for our work or for this report.

It is your duty to ensure that Westbrooke Developments 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 Westbrooke Developments Limited. You consider that Westbrooke Developments Limited is exempt from the statutory audit requirement for the year.

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

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.

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.

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

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

Westbrooke Developments Limited is a private company limited by shares incorporated in England and Wales. The registered office is Amelia House, Crescent Road, Worthing, West Sussex, BN11 1QR.

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 £1.

The financial statements have been prepared under the historical cost convention, modified to include investment properties at fair value. The principal accounting policies adopted are set out below.

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. The directors have considered relevant information, including the company’s principal risks and uncertainties, the annual budget, forecast future cash flows and the impact of subsequent events in making their assessment.  Based on these assessments and having regard to the resources available to the entity, the directors have concluded that there is no material uncertainty and that they can continue to adopt the going concern basis in preparing the annual report and financial statements.true

Revenue represents amounts receivable for goods and services, net of VAT and trade discounts, plus revenue in relation to long term contracts and contracts for services.

Where under a contract for services contractual obligations are performed gradually over time, revenue is recognised as contract activity progresses to reflect the partial performance of contractual obligations and the accrual of the right to consideration by reference to the value of the work performed.

Property, plant and equipment 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:

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.

Freehold ground rents

The company receives ground rent from properties which have been sold on long leases, with the company retaining title to the freehold land. The cost is initially recognised in the statement of financial position and included as freehold ground rents in investment properties. The company holds these ground rents to ensure that the character and condition of the developed sites can be maintained to the high standards that the company designs and builds. In accordance with accounting standards the directors have revalued the ground rents to fair value.

Leasehold reversions

From time to time the company recognises the need to provide assistance to customers to enable the sale of development sites. This can be in the form of discounts and the further method as set out below.

Leasehold reversions relate to properties sold on long leases at a discounted amount. The discounted sale proceeds and a proportion of related costs are included in the profit and loss account with the remaining costs capitalised and included in investment properties, representing the estimated fair value of the future reversion.

The leasehold reversions are initially stated at cost with subsequent revaluations to fair value. The directors undertake these valuations in accordance with accounting standards and taking advice from suitably qualified local professionals.

The directors believe that the above investment properties are necessary to undertake the trading activity of the company, but also recognise that they must reflect the transactions in accordance with accounting standards.

Assets and liabilities relating to long-term construction contracts (principally retention) are included in current assets and current liabilities since they will be liquidated in the normal course of contract completion, although this may require more than one year. A one-year time period is used as the basis for classifying all other current assets and liabilities.

Amounts recoverable on long term contracts, which are included in receivables, are stated at the net sales value of the work done after provision for contingencies and anticipated future losses on contracts, less amounts received as progress payments on account. Excess progress payments are included in other payables as payments on account.

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks. Bank overdrafts are shown within borrowings in current liabilities.

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.

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost.

Basic financial liabilities, including trade and other payables, are recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.

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.

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.

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation.

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or non-current assets.

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The following judgements (apart from those involving estimates) have had the most significant effect on amounts recognised in the financial statements.

Provision is made for warranties and provision claims. These provisions require management’s best estimate of the costs that will be incurred.

Investment property valuations are reviewed annually using the fair value method. The fair value is determined by reference to the amounts likely to be received when leases are extended and a multiple of ground rents receivable.

The average monthly number of persons (including directors) employed by the company during the year was 32 (2024 - 30).

The directors valued the company's investments held at the statement of financial position date at their fair value. The fair value in the current year has been determined by reference to the amounts likely to be received when leases are extended and a multiple of ground rents receivable.

Leasehold reversions have been valued to market value, discounted to present value based on expected length until reversion.

On a historical cost basis the investment properties would have been included at a cost of £172,548 (2024 - £172,548).

Included within other payables is £2,223 (2024 - £3,871) owed to the directors. Amounts owed to the directors are secured by fixed and floating charges over the assets of the company.

The non-distributable retained earnings reserve shows separately the fair value gains, net of any deferred tax, arising on the investment properties, which have passed through profit or loss in the income statement. In the comparative period the company sold a proportion of these investment properties. The accumulated fair value gain relating to these assets has been transferred from the non-distributable reserves to the distributable retained earnings.