Westward Properties Ltd - Accounts to registrar (filleted)

REGISTERED NUMBER: 02856224 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

FOR

WESTWARD PROPERTIES LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr Keith David Ward

SECRETARY:

Mr David Keith Ward

REGISTERED OFFICE:

Westward House

2 Bury Road

Hatfield

Hertfordshire

AL10 8BJ

REGISTERED NUMBER:

02856224 (England and Wales)

ACCOUNTANTS:

SRG Newmans Ltd

Chartered Certified Accountants

Five Ways

57/59 Hatfield Road

Potters Bar

Hertfordshire

EN6 1HS

FIXED ASSETS

Tangible assets

4

1,590,613

1,957,961

Investments

5

95

Investment property

6

783,544

800,000

2,374,252

2,758,056

CURRENT ASSETS

Debtors

7

40,103

35,328

Cash at bank and in hand

96,508

88,358

136,611

123,686

CREDITORS

Amounts falling due within one year

8

77,409

75,485

NET CURRENT ASSETS

59,202

48,201

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,433,454

2,806,257

CREDITORS

Amounts falling due after more than one
year

9

(277,298

)

(290,888

)

PROVISIONS FOR LIABILITIES

(387,078

)

(477,078

)

NET ASSETS

1,769,078

2,038,291

CAPITAL AND RESERVES

Called up share capital

100

Fair value reserve

11

1,341,234

1,431,234

Retained earnings

427,744

606,957

SHAREHOLDERS' FUNDS

1,769,078

2,038,291

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 director and authorised for issue on 22 June 2026 and were signed by:

Mr Keith David Ward - Director

1.	STATUTORY INFORMATION

Westward Properties 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.

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 as modified by the revaluation of certain assets.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on cost

Fixtures and fittings

-

25% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year 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 year 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 year was NIL (2024 - NIL).

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

Totals

£

COST OR VALUATION

At 1 October 2024

2,380,425

14,307

36,498

2,431,230

Reclassification/transfer

(343,544

)

-

(343,544

)

At 30 September 2025

2,036,881

14,307

36,498

2,087,686

DEPRECIATION

At 1 October 2024

422,464

14,307

36,498

473,269

Charge for year

23,804

-

23,804

At 30 September 2025

446,268

14,307

36,498

497,073

NET BOOK VALUE

At 30 September 2025

1,590,613

-

1,590,613

At 30 September 2024

1,957,961

-

1,957,961

Cost or valuation at 30 September 2025 is represented by:

Fixtures

Freehold

Plant and

and

property

machinery

fittings

Totals

£

Valuation in 2014

1,009,120

-

1,009,120

Valuation in 2017

377,280

-

377,280

Valuation in 2023

18,800

-

18,800

Cost

631,681

14,307

36,498

682,486

2,036,881

14,307

36,498

2,087,686

If Freehold land and buildings had not been revalued they would have been included at the following historical cost:

2025

2024

£

Cost

631,681

613,600

Aggregate depreciation

446,268

327,811

Value of land in freehold land and buildings

1,656,456

2,000,000

Freehold land and buildings were valued on an open market offer basis on 30 September 2025 by a purchase offer .

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 October 2024

and 30 September 2025

95

NET BOOK VALUE

At 30 September 2025

95

At 30 September 2024

95

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 October 2024

800,000

Reclassification/transfer

343,544

At 30 September 2025

1,143,544

DEPRECIATION

Revaluation adjustments

360,000

At 30 September 2025

360,000

NET BOOK VALUE

At 30 September 2025

783,544

At 30 September 2024

800,000

Fair value at 30 September 2025 is represented by:

£

Valuation in 2017

123,112

Valuation in 2018

180,000

Valuation in 2023

200,000

Valuation in 2025

(360,000

)

Cost

1,000,432

1,143,544

If Investment property had not been revalued it would have been included at the following historical cost:

2025

2024

£

Cost

1,143,544

296,888

Investment property was valued on an open market basis on 30 September 2025 by by a local estate agent .

The Director of the company is in the opinion that the valuation of the investment property in the financial statements reflects the fair value of it at open market value.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

19,515

20,435

Other debtors

20,588

14,893

40,103

35,328

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Bank loans and overdrafts

14,000

Trade creditors

22,575

18,621

Amounts owed to group undertakings

2,067

Taxation and social security

6,315

9,144

Other creditors

32,452

31,653

77,409

75,485

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR

2025

2024

£

Bank loans

277,298

290,888

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

207,298

220,888

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

Bank loans

291,298

304,888

The National Westminster Bank PLC holds a fixed charge over the freehold property 2 Bury Road Hatfield Hertfordshire.

By way of fixed charge the benefit of all covenants and rights concerning the property and plant machinery fixtures fittings furniture equipment implements and utensils the goodwill of any business carried on at the property and the proceeds of any insurance affecting the property or assets.

Fixed and floating charges over the undertaking and all property and assets present and future including goodwill book debts uncalled capital buildings fixtures fixed plant and machinery.

11.

RESERVES

The non-distributable reserve at the reporting date is £1,341,234 (2024- £1,431,234). It was adjusted by applying the 25% Corporation Tax rate.