Company No:
Contents
| Note | 2025 | 2024 | ||
| £ | £ | |||
| Fixed assets | ||||
| Tangible assets | 4 |
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| 7,598 | 4,959 | |||
| Current assets | ||||
| Debtors | 5 |
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| Investments |
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| Cash at bank and in hand |
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| 581,936 | 1,051,868 | |||
| Creditors: amounts falling due within one year | 6 | (
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| Net current assets | 265,030 | 782,151 | ||
| Total assets less current liabilities | 272,628 | 787,110 | ||
| Provision for liabilities | (
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| Net assets |
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| Capital and reserves | ||||
| Called-up share capital | 7 |
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| Profit and loss account |
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| Total shareholders' funds |
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Directors' responsibilities:
The financial statements of West Country Renovations Limited (registered number:
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Geoffrey Carew
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
West Country Renovations Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is Hensleigh Farm, Withleigh, Tiverton , Devon EX16 8JR, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Deferred tax
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 financial statements. 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.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
| Plant and machinery etc. |
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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.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.
The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.
The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.
| 2025 | 2024 | ||
| Number | Number | ||
| Monthly average number of persons employed by the company during the year, including directors |
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| 2025 | 2024 | ||
| £ | £ | ||
| Amounts recognised as distributions to equity holders in the financial year: | |||
| Final dividend for the financial year ended 31 May 2025 of £658,452 (2024: £140,000) | 658,452 | 140,000 | |
| Plant and machinery etc. | Total | ||
| £ | £ | ||
| Cost | |||
| At 01 June 2024 |
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| Additions |
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| At 31 May 2025 |
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| Accumulated depreciation | |||
| At 01 June 2024 |
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| Charge for the financial year |
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| At 31 May 2025 |
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| Net book value | |||
| At 31 May 2025 | 7,598 | 7,598 | |
| At 31 May 2024 | 4,959 | 4,959 |
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| £ | £ | ||
| Trade debtors |
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| Other debtors |
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| £ | £ | ||
| Trade creditors |
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| Taxation and social security |
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| Other creditors |
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| £ | £ | ||
| Allotted, called-up and fully-paid | |||
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| 10,015 | 10,015 |
Other related party transactions
During the year, the company transferred investments of £513,452 to its holding company, WCR Holdings Limited.