Westow Street Developments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05257501 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2021

FOR

WESTOW STREET DEVELOPMENTS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

J J Devereux

REGISTERED OFFICE:

Solar House

282 Chase Road

London

N14 6NZ

REGISTERED NUMBER:

05257501 (England and Wales)

ACCOUNTANTS:

Freemans Partnership LLP

Chartered Certified Accountants

Solar House

282 Chase Road

London

N14 6NZ

FIXED ASSETS

Investment property

4

1,350,000

1,431,189

CURRENT ASSETS

Debtors

5

468,102

115,833

Cash at bank

25,238

20,266

493,340

136,099

CREDITORS

Amounts falling due within one year

6

937,419

725,435

NET CURRENT LIABILITIES

(444,079

)

(589,336

)

TOTAL ASSETS LESS CURRENT LIABILITIES

905,921

841,853

CAPITAL AND RESERVES

Called up share capital

7

2

2

Retained earnings

905,919

841,851

SHAREHOLDERS' FUNDS

905,921

841,853

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2021 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 2 July 2021 and were signed by:

J J Devereux - Director

1.	STATUTORY INFORMATION

Westow Street Developments 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 as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2020 - 1 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 March 2020

1,431,189

Disposals

(81,189

)

At 28 February 2021

1,350,000

NET BOOK VALUE

At 28 February 2021

1,350,000

At 29 February 2020

1,431,189

Fair value at 28 February 2021 is represented by:

£

Valuation in 2009

98,472

Valuation in 2010

530,304

Valuation in 2018

(32,057

)

Cost

753,281

1,350,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.21

29.2.20

£

£

Other debtors

468,102

115,833

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.21

29.2.20

£

£

Tax

15,028

15,740

VAT

3,903

4,447

Related party loans

210,000

-

Shareholders' loans

701,888

701,888

Directors' loan accounts

3,000

-

Accrued expenses

3,600

3,360

937,419

725,435

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28.2.21

29.2.20

value:

£

£

2

Ordinary

£1

2

2

8.	ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of Highmanor Estates Ltd.