Westcourt Homes Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 08589578 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

FOR

WESTCOURT HOMES LIMITED

Page

Balance Sheet

1

Notes to the Financial Statements

2

FIXED ASSETS

Investments

4

1

1

CURRENT ASSETS

Stocks

-

268,954

Debtors

5

55,846

66,504

Cash at bank

18,128

60,671

73,974

396,129

CREDITORS

Amounts falling due within one year

6

77,553

503,682

NET CURRENT LIABILITIES

(3,579

)

(107,553

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(3,578

)

(107,552

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(3,579

)

(107,553

)

SHAREHOLDERS' FUNDS

(3,578

)

(107,552

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 December 2022 and were signed by:

T M J Hodgson - Director

1.	STATUTORY INFORMATION

Westcourt Homes Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

08589578

Registered office:

27 York Place

Leeds

West Yorkshire

LS1 2EY

The presentation currency of the financial statements is the Pound Sterling, which is the functional currency of the company, rounded to the nearest £1.

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.

The balance sheet shows that liabilities exceed assets by £3,578 and the company is dependent on the support of a fellow group company for the continuance of normal trading operations. As the company has indicated its continued support for the foreseeable future, the accounts have been drawn up assuming a going concern.

Turnover

Turnover is measured at the fair value of consideration received or receivable and is recognised on completion of the sale.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments

No interest is charged on loans from fellow group companies. Loans from companies under common control are repayable on demand and attract interest at market rate.

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.

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.

Debtors

Short term debtors are measured at transaction price, less any impairment.

Creditors

Short term creditors are measured at the transaction price.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 April 2021

and 31 March 2022

1

NET BOOK VALUE

At 31 March 2022

1

At 31 March 2021

1

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Other debtors

55,000

66,500

VAT

-

4

Prepayments and accrued income

846

-

55,846

66,504

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Trade creditors

-

115

Amounts owed to group undertakings

75,001

1

Other creditors

-

500,000

Accruals and deferred income

2,552

3,566

77,553

503,682

7.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.22

31.3.21

£

£

Other creditor

-

500,000

The company had a legal charge dated 22 June 2017, in favour of a company under common control, over freehold land. The charge was satisfied on 7 December 2021.