ACCOUNTS - Final Accounts

WEST HALL ESTATE COMPANY LIMITED - Company Information

Company registration number: 00829431

	UNAUDITED FINANCIAL STATEMENTS
	FOR THE YEAR ENDED 31 MARCH 2020

	WEST HALL ESTATE COMPANY LIMITED


WEST HALL ESTATE COMPANY LIMITED REGISTERED NUMBER:00829431

STATEMENT OF FINANCIAL POSITION

AS AT 31 MARCH 2020

		2020		2019
Note		£		£

Fixed assets
Tangible assets	4		95		126
			95		126
Current assets
Stocks		284,893		256,158
Debtors: amounts falling due within one year	5	102,472		20,957
Cash at bank and in hand		28,840		25,279
		416,205		302,394
Creditors: amounts falling due within one year	6	(59,849)		(51,527)
Net current assets			356,356		250,867
Total assets less current liabilities			356,451		250,993

Net assets			356,451		250,993

Capital and reserves
Called up share capital	5,000	5,000
Capital redemption reserve	822	822
Profit and loss account	350,629	245,171
	356,451	250,993

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WEST HALL ESTATE COMPANY LIMITED REGISTERED NUMBER:00829431

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 MARCH 2020

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

................................................

P Hickman

Director

Date: 25 February 2021

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WEST HALL ESTATE COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

1.	General information

These financial statements have been prepared in compliance with FRS102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
West Hall Estate Company Limited is a private company limited by shares and registered in England and Wales, company number 00829431. The address of its registered office is situated at Midas House, 62 Goldsworth Road, Woking, Surrey, GU21 6LQ.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Consolidation

In the opinon of the directors, the company and its subsidiary undertakings comprise a small group. The company has therefore taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare group accounts.

2.3

Going concern

The Coronavirus pandemic is creating significant uncertainty globally and the company is not immune to this. The directors are working to ensure the safety of their employees and maintaining the continuity of their operations as far as they are able, whilst adhering to Government advice. Whilst the pandemic will have a financial impact on the company, at this stage it is not possible to reliably forecast what this may be. However, the directors have taken all relevant measures to ensure they are able to safeguard cashflow, jobs, customers and supply chains to put them in the best possible position to be able to pick up on opportunities as they arise once business starts to return to normal.
Given the uncertainties that exist, this may cast significant doubt on the Company’s ability to continue as a going concern, however, the Directors believe that the actions they have taken should enable them to continue in operational existence.
The directors are confident that the company will still be trading in a years time and will be able to make a more considered judgement on the impact of Covid 19 at that time.

2.4

Turnover

The turnover shown in the profit and loss represents rental income and property disposal income.

2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

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WEST HALL ESTATE COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

2.Accounting policies (continued)

2.5

Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles

25% Reducing balance

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Income and Retained Earnings.

2.6

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

2.7

Financial instruments

The Company only enters into basic financial instrument 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 related parties and investments in ordinary shares.

Employees

The average monthly number of employees, including directors, during the year was 2 (2019 -2).

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WEST HALL ESTATE COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

4.	Tangible fixed assets

		Plant and machinery etc.
		£
	Cost or valuation
	At 1 April 2019	2,995
	At 31 March 2020	2,995
	Depreciation
	At 1 April 2019	2,869
	Charge for the year on owned assets	31
	At 31 March 2020	2,900
	Net book value
	At 31 March 2020	95
	At 31 March 2019	126

Debtors

					2020	2019
					£	£


Trade debtors	1,032	1,412
Amounts owed by associated companies	90,404	17,018
Other debtors	10,411	2,101
Prepayments and accrued income	625	426
	102,472	20,957

6.	Creditors: Amounts falling due within one year
		2020	2019
		£	£

Corporation tax	25,579	8,978
Other creditors	34,270	42,549
	59,849	51,527

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WEST HALL ESTATE COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2020

7.	Contingent liabilities

The company is party to an unlimited cross guarantee and debenture in respect of borrowings by Gillenden Development Company Limited and Gravitas 1061 Limited and other group companies.

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