Westmorland Estates Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03930105 (England and Wales)

Financial Statements for the Year Ended 5 April 2020

for

Westmorland Estates Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

L Kirby

C Kirby

SECRETARY:

L Kirby

REGISTERED OFFICE:

Westmorland Estates Limited

Flat 5

26 Brunswick Terrace

Hove

Sussex

BN3 1HJ

REGISTERED NUMBER:

03930105 (England and Wales)

ACCOUNTANTS:

CAAT Advisory Ltd

Wework Southbank Central

30 Stamford Street

London

SE1 9PY

FIXED ASSETS

Tangible assets

4

1,590,263

1,018,780

CURRENT ASSETS

Debtors

5

14,920

632

Cash at bank

6,258

3,571

21,178

4,203

CREDITORS

Amounts falling due within one year

6

35,103

9,231

NET CURRENT LIABILITIES

(13,925

)

(5,028

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,576,338

1,013,752

CREDITORS

Amounts falling due after more than one year

7

(1,275,325

)

(668,705

)

PROVISIONS FOR LIABILITIES

(57,570

)

(57,570

)

NET ASSETS

243,443

287,477

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

242,443

286,477

SHAREHOLDERS' FUNDS

243,443

287,477

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2020 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.

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 and authorised for issue on 10 March 2021 and were signed on its behalf by:

L Kirby - Director

1.	STATUTORY INFORMATION

Westmorland Estates 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 represents rents receivable.

Tangible fixed assets

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

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 3 (2019 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

At 6 April 2019

1,018,780

Additions

571,483

At 5 April 2020

1,590,263

NET BOOK VALUE

At 5 April 2020

1,590,263

At 5 April 2019

1,018,780

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

5.4.20

5.4.19

£

£

Other debtors

14,920

632

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

5.4.20

5.4.19

£

£

Trade creditors

-

(1

)

Taxation and social security

-

366

Other creditors

35,103

8,866

35,103

9,231

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

5.4.20

5.4.19

£

£

Bank loans

869,110

300,000

Other creditors

406,215

368,705

1,275,325

668,705

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Bank loans more 5 yrs non-inst

569,110

-

8.	SECURED DEBTS

The following secured debts are included within creditors:

5.4.20

5.4.19

£

£

Bank loans

869,110

300,000

The Mortgage is secured over certain Leasehold Properties.