The Western Group Of Companies Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01612531 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2019

for

The Western Group Of Companies Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G J South

Mrs N K South

SECRETARY:

Ms J E Maciain

REGISTERED OFFICE:

Western House

Armstrong Road

Basingstoke

Hampshire

RG24 8QE

REGISTERED NUMBER:

01612531 (England and Wales)

ACCOUNTANTS:

Lane Monnington Welton

Chartered Accountants

Riverside View

Basing Road

Old Basing

Basingstoke

Hampshire

RG24 7AL

FIXED ASSETS

Tangible assets

4

-

-

Investments

5

55,000

55,000

Investment property

6

1,380,000

1,380,000

1,435,000

1,435,000

CURRENT ASSETS

Debtors

7

64,630

358,732

Cash at bank

29,099

43,847

93,729

402,579

CREDITORS

Amounts falling due within one year

8

91,399

296,915

NET CURRENT ASSETS

2,330

105,664

TOTAL ASSETS LESS CURRENT LIABILITIES

1,437,330

1,540,664

CREDITORS

Amounts falling due after more than one year

9

324,102

400,753

NET ASSETS

1,113,228

1,139,911

CAPITAL AND RESERVES

Called up share capital

12

45,991

45,991

Capital redemption reserve

13

9,009

9,009

Retained earnings

13

1,058,228

1,084,911

SHAREHOLDERS' FUNDS

1,113,228

1,139,911

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 of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 27 June 2019 and were signed on its behalf by:

G J South - Director

1.	STATUTORY INFORMATION

The Western Group Of Companies 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 consideration received or receivable, excluding discounts,

rebates, value added tax and other sales taxes.

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

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.

Financial instruments

Debtors and creditors payable/receivable 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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of

Income and Retained Earnings, 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, adjusted for indexation where applicable.

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.

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.

Impairment

Assets not measured at fair value are reviewed for any indication that an asset may be impaired at

each balance sheet date. The directors review the carrying amount of the relevant assets and compare

them to their market values and recoverable amounts. Where the carrying amount exceeds this, an

impairment loss is recognised in profit or loss, unless the asset is carried at a revalued amount, where

the impairment loss is a revaluation decrease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 April 2018

and 31 March 2019

1,940

DEPRECIATION

At 1 April 2018

and 31 March 2019

1,940

NET BOOK VALUE

At 31 March 2019

-

At 31 March 2018

-

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2018

and 31 March 2019

55,000

NET BOOK VALUE

At 31 March 2019

55,000

At 31 March 2018

55,000

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2018

and 31 March 2019

1,380,000

NET BOOK VALUE

At 31 March 2019

1,380,000

At 31 March 2018

1,380,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Amounts owed by group undertakings

63,279

353,318

Other debtors

1,351

5,414

64,630

358,732

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Bank loans and overdrafts

88,800

88,800

Trade creditors

-

1,200

Amounts owed to group undertakings

-

199,084

Taxation and social security

349

5,071

Other creditors

2,250

2,760

91,399

296,915

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.19

31.3.18

£

£

Bank loans

324,102

400,753

31.3.19

31.3.18

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

45,553

10.	LEASING AGREEMENTS

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

31.3.19

31.3.18

£

£

Within one year

83,595

83,595

Between one and five years

334,380

334,380

In more than five years

4,096,155

4,179,750

4,514,130

4,597,725

11.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.19

31.3.18

£

£

Bank loans

412,902

-

There is a cross guarantee and debenture by and between The Western Group of Companies Limited

and Western House Limited. The amount guaranteed is £500,000 (2018: £500,000).

There are fixed and floating charges over the undertaking and all property and assets present and

future including goodwill bookdebts uncalled capital buildings fixtures fixed plant and machinery.

The company has also provided a cross guarantee over a liability in its subsidiary.

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.19

31.3.18

value:

£

£

20,478

Ordinary - voting

£1

20,478

20,478

25,513

Ordinary - non voting

£1

25,513

25,513

45,991

45,991

13.

RESERVES

The total reserves of £1,058,228 relates to undistributable reserves (2018: total reserves £1,084,911 of

which £1,058,228 relates to undistributable reserves).