Company Registration No. 10805553 (England and Wales)
West Norfolk Developments Limited
Unaudited accounts
for the year ended 31 December 2024
West Norfolk Developments Limited
Unaudited accounts
Contents
West Norfolk Developments Limited
Company Information
for the year ended 31 December 2024
Director
Luke Morgan Smith
Secretary
Penelope Karen Smith
Company Number
10805553 (England and Wales)
Registered Office
Dental Surgery
Camel Gate
Spalding
Lincolnshire
PE12 6ES
England
Accountants
CDM Accountants Limited
28 Tytton Lane East
Wyberton
Boston
Lincolnshire
PE21 7HW
West Norfolk Developments Limited
Statement of financial position
as at 31 December 2024
Intangible assets
368,439
101,003
Tangible assets
66,314
60,805
Cash at bank and in hand
59,090
80,871
Creditors: amounts falling due within one year
(162,490)
(144,072)
Net current assets
14,457
38,662
Total assets less current liabilities
511,940
200,470
Creditors: amounts falling due after more than one year
(355,123)
(95,025)
Provisions for liabilities
Deferred tax
(14,875)
(13,309)
Called up share capital
100
100
Profit and loss account
141,842
92,036
Shareholders' funds
141,942
92,136
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 25 November 2025 and were signed on its behalf by
Luke Morgan Smith
Director
Company Registration No. 10805553
West Norfolk Developments Limited
Notes to the Accounts
for the year ended 31 December 2024
West Norfolk Developments Limited is a private company, limited by shares, registered in England and Wales, registration number 10805553. The registered office is Dental Surgery, Camel Gate, Spalding, Lincolnshire, PE12 6ES, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% straight line
Plant & machinery
20% & 15% reducing balance
Motor vehicles
25% reducing balance
Fixtures & fittings
20% & 15% reducing balance
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
West Norfolk Developments Limited
Notes to the Accounts
for the year ended 31 December 2024
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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Intangible fixed assets
Goodwill
At 31 December 2024
542,898
At 31 December 2024
174,459
At 31 December 2024
368,439
At 31 December 2023
101,003
The goodwill has not been amortised this year as it is the opinion of the director that current value is at least equal to the historic cost and has not been impaired. This will be reviewed on an annual basis.
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Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 January 2024
17,041
43,678
-
53,398
114,117
Additions
-
-
19,282
1,128
20,410
At 31 December 2024
17,041
43,678
19,282
54,526
134,527
At 1 January 2024
8,521
25,197
-
19,594
53,312
Charge for the year
1,705
2,900
4,820
5,476
14,901
At 31 December 2024
10,226
28,097
4,820
25,070
68,213
At 31 December 2024
6,815
15,581
14,462
29,456
66,314
At 31 December 2023
8,520
18,481
-
33,804
60,805
West Norfolk Developments Limited
Notes to the Accounts
for the year ended 31 December 2024
6
Investments
Other investments
Valuation at 1 January 2024
-
Valuation at 31 December 2024
62,730
Amounts falling due within one year
Other debtors
117,857
97,874
8
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
39,903
18,905
Obligations under finance leases and hire purchase contracts
-
3,241
Taxes and social security
83,756
77,246
Other creditors
13,373
26,038
Loans from directors
22,458
1,409
Bank loans totalling £39,903 (2023 - £18,905) are secured via a fixed charge and a negative pledge on the company.
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Creditors: amounts falling due after more than one year
2024
2023
Other creditors
24,904
39,005
Bank loans totalling £330,219 (2023 - £56,020) are secured via a fixed charge and negative pledge on the company.
Bank loans include aggregate amounts of £205,212 (2023 - £nil) which fall due after five years and which are payable by instalments.
10
Average number of employees
During the year the average number of employees was 2 (2023: 2).