Westend Apartments Preston Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 05265546 (England and Wales)

Unaudited Financial Statements

for the Year Ended 28 February 2025

for

Westend Apartments Preston Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Mr S S Phull

REGISTERED OFFICE:

11 Glasbrook Avenue

Twickenham

Middlesex

TW2 6AH

REGISTERED NUMBER:

05265546 (England and Wales)

ACCOUNTANTS:

McDade Roberts Accountants Limited

Chartered Accountants

316 Blackpool Road

Fulwood

Preston

Lancashire

PR2 3AE

FIXED ASSETS

Intangible assets

4

-

Tangible assets

5

100

Investment property

6

1,558,238

1,558,338

CURRENT ASSETS

Cash at bank

2,041

2,699

CREDITORS

Amounts falling due within one year

7

232,839

247,683

NET CURRENT LIABILITIES

(230,798

)

(244,984

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

1,327,540

1,313,354

CREDITORS

Amounts falling due after more than one
year

8

(854,477

)

(892,041

)

PROVISIONS FOR LIABILITIES

(9,113

)

(9,113

)

NET ASSETS

463,950

412,200

CAPITAL AND RESERVES

Called up share capital

2

Retained earnings

463,948

412,198

SHAREHOLDERS' FUNDS

463,950

412,200

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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 27 November 2025 and were signed by:

Mr S S Phull - Director

1.	STATUTORY INFORMATION

Westend Apartments Preston Limited 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.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Fixtures and fittings

-

15% on 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 5 (2024 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 29 February 2024

and 28 February 2025

140,000

AMORTISATION

At 29 February 2024

and 28 February 2025

140,000

NET BOOK VALUE

At 28 February 2025

-

At 28 February 2024

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 29 February 2024

and 28 February 2025

10,250

DEPRECIATION

At 29 February 2024

and 28 February 2025

10,150

NET BOOK VALUE

At 28 February 2025

100

At 28 February 2024

100

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 29 February 2024

and 28 February 2025

1,558,238

NET BOOK VALUE

At 28 February 2025

1,558,238

At 28 February 2024

1,558,238

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

28.2.24

£

Bank loans and overdrafts

10,000

Mortgage

28,701

29,006

Trade creditors

1

-

Tax

16,107

9,820

Social security and other taxes

522

(92

)

Other creditors

33,227

46,383

Directors' loan accounts

139,726

148,011

Accrued expenses

4,555

232,839

247,683

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

28.2.25

28.2.24

£

Bank loans - 1-2 years

10,000

Bank loans - 2-5 years

17,133

23,721

Mortgage 1-2 years

28,701

29,006

Mortgage 2-5 years

86,103

87,019

Mortgage over 5 years

712,540

742,295

854,477

892,041

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Mortgage over 5 years

712,540

742,295

9.	SECURED DEBTS

The following secured debts are included within creditors:

28.2.25

28.2.24

£

Mortgage

856,045

887,326

Bounce Back Loan

37,133

43,721

893,178

931,047

The mortgages are secured by legal charges on the respective properties by Santander UK PLC, Aldermore Bank PLC, Precise Mortgages, Onesavings Bank PLC and Paragon Bank PLC.

The UK Government have provided a 100% guarantee on the Bounce Back Loan Scheme (BBLS), borrowings obtained from National Westminster Bank PLC.

10.	RELATED PARTY DISCLOSURES

During the year the company received rent totalling £100,000 from Croft House (Preston) Ltd a company in which the director is both director and shareholder.

Included in other creditors is a loan from Croft House (Preston) Ltd of £33,227 and the interest charged on this loan is 0.75%.

The company has received £44,775 towards the management charge from the director for managing the property business of the director.