REGISTERED NUMBER: 16485883 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD 30 MAY 2025 TO 30 JUNE 2025

FOR

WESTGATE ALTERNATIVES LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Sir W L Adderley

Mr D L Wright

REGISTERED OFFICE:

Two Marlborough Court

Watermead Business Park

Syston

Leicester

Leicestershire

LE7 1AD

REGISTERED NUMBER:

16485883 (England and Wales)

FIXED ASSETS

Investments

4

26,621,087

CREDITORS

Amounts falling due within one year

5

(26,477,986

)

NET CURRENT LIABILITIES

(26,477,986

)

TOTAL ASSETS LESS CURRENT LIABILITIES

143,101

CAPITAL AND RESERVES

Called up share capital

1

Retained earnings

143,100

143,101

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 June 2025.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 June 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 12 December 2025 and were signed on its behalf by:

Mr D L Wright - Director

1.	STATUTORY INFORMATION

Westgate Alternatives Ltd 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The

financial statements have been prepared under the historical cost convention.

Going Concern

Notwithstanding the net current liabilities of £26,477,986 at 30 June 2025, the financial statements have been prepared on a going concern basis which the Directors consider to be appropriate for the following reasons.

The Directors have prepared forecasts for a period of 12 months from the date of approval of these financial statements.

The forecasts prepared by the Directors are dependent on WA Capital Limited not seeking repayment of the amounts currently due to that company, which at 30 June 2025 amounted to £26,477,986. The parent company, WA Capital Limited has indicated its intention to continue to make available such funds as are needed by the company, and that it does not seek repayment of the amount owed to it at the balance sheet date, for the period covered by the forecasts or other funding becomes available.

As with any company placing reliance on other group companies for financial support, the Directors acknowledge that there can be no certainty that this support will continue although, at the date of approval of the financial statements, they have no reason to believe that it will not do so.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Financial instruments

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.

Basic financial assets

Basic financial assets, which include trade and other 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 financial asset is measured at the present

value of the future receipts discounted at a market rate of interest.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for

indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or

more events that occurred after the initial recognition of the financial asset, the estimated

future cash flows have been affected. If an asset is impaired, the impairment loss is the

difference between the carrying amount and the present value of the estimated cash flows

discounted at the asset's original effective interest rate. The impairment loss is recognised in

profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the

impairment was recognised, the impairment is reversed. The reversal is such that the current

carrying amount does not exceed what the carrying amount would have been, had the

impairment not previously been recognised. The impairment reversal is recognised in profit

or loss.

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 group after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including trade and other 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 payments discounted at a

market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate

method.

Equity instruments

Equity instruments issued by the company are recorded at the fair value of 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.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL.

4.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

Additions

26,621,087

At 30 June 2025

26,621,087

NET BOOK VALUE

At 30 June 2025

26,621,087

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Amounts owed to group undertakings

26,477,986

6.	PARENT COMPANY

The companies immediate and ultimate parent undertaking is WA Capital Limited, a company incorporated in England and Wales. Transactions between the company and fellow wholly owned subsidiaries or with the parent undertaking are exempt from disclosure.

WA Capital Limited is the smallest and largest company for which consolidated accounts including Westgate Asset Management Limited are prepared. The consolidated accounts are available from its registered office of Two Marlborough Court, Watermead Business Park, Syston, Leicestershire, LE7 1AD.