Westgate House Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04695123 (England and Wales)

Financial Statements

For The Year Ended 31 March 2019

for

Westgate House Limited

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr J Byrom

Mrs P A Byrom

Mr D J Byrom

SECRETARY:

Mrs P A Byrom

REGISTERED OFFICE:

Eastcote Road

Gayton

Northampton

Northamptonshire

NN7 3HQ

REGISTERED NUMBER:

04695123 (England and Wales)

ACCOUNTANTS:

Cottons Accountants LLP

1 Billing Road

Northampton

Northamptonshire

NN1 5AL

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

1,921,488

1,890,128

1,921,488

1,890,128

CURRENT ASSETS

Debtors

38,315

164,583

Cash at bank and in hand

16,243

2,302

54,558

166,885

CREDITORS

Amounts falling due within one year

218,500

256,908

NET CURRENT LIABILITIES

(163,942

)

(90,023

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,757,546

1,800,105

CREDITORS

Amounts falling due after more than one year

6

(734,819

)

(869,311

)

PROVISIONS FOR LIABILITIES

(12,829

)

(6,717

)

NET ASSETS

1,009,898

924,077

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

1,009,798

923,977

SHAREHOLDERS' FUNDS

1,009,898

924,077

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2019 in accordance with Section 444(2A) of the Companies Act 2006.

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 on 10 December 2019 and were signed on its behalf by:

Mr J Byrom - Director

Mrs P A Byrom - Director

Mr D J Byrom - Director

1.	STATUTORY INFORMATION

Westgate House 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.

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.

Turnover

Turnover is measured at the fair value of the consideration 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 2003, 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

-

10% on reducing balance

Office equipment

-

25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and

accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating

as intended.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at

transaction price. Any losses arising from impairment are recognised in the profit and loss account in other

administrative expenses.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently,

they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement

constitutes a finance transaction it is measured at present value.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 53 (2018 - 54 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2018

and 31 March 2019

175,000

AMORTISATION

At 1 April 2018

and 31 March 2019

175,000

NET BOOK VALUE

At 31 March 2019

-

At 31 March 2018

-

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2018

1,944,442

Additions

39,121

At 31 March 2019

1,983,563

DEPRECIATION

At 1 April 2018

54,314

Charge for year

7,761

At 31 March 2019

62,075

NET BOOK VALUE

At 31 March 2019

1,921,488

At 31 March 2018

1,890,128

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

31/3/19

31/3/18

£

£

Repayable by instalments

Bank loans more 5 yr by instal

133,092

172,498

7.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

31/3/19

31/3/18

£

£

Within one year

27,912

25,441

Between one and five years

94,496

46,087

122,408

71,528

8.	SECURED DEBTS

The following secured debts are included within creditors:

31/3/19

31/3/18

£

£

Bank loans

319,700

353,063

Bank loan no. 1 is secured by a legal charge over the property dated 17 October 2011.

Bank loan no. 2 is secured by a fixed and floating charge over the property and other assets dated 17 October 2011.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31/3/19

31/3/18

value:

£

£

76

Ordinary A

£1

76

76

24

Ordinary B

£1

24

24

100

100

10.

PENSIONS

During the year the company made pension contributions of £10,576 (2018: £5,233). At the balance sheet date the

amount outstanding was £1,820 (2018: £1,474).