Westwood Rock Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03878445 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2020

FOR

WESTWOOD ROCK LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

Mr Keith Noel Jenkins

Mr Gary Bryan Wordsworth

SECRETARY:

Mrs Naomi May Wordsworth

REGISTERED OFFICE:

8 The First Floor, The Courtyard

Furlong Road

Bourne End

Buckinghamshire

SL8 5AU

REGISTERED NUMBER:

03878445 (England and Wales)

ACCOUNTANTS:

Exceed Accountants Ltd

Bank House

81 St Judes Road

Englefield Green

Surrey

TW20 0DF

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Westwood Rock Limited for the year ended 31st December 2020 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Westwood Rock Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Westwood Rock Limited and state those matters that we have agreed to state to the Board of Directors of Westwood Rock Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Westwood Rock Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Westwood Rock Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Westwood Rock Limited. You consider that Westwood Rock Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Westwood Rock Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Exceed Accountants Ltd

Bank House

81 St Judes Road

Englefield Green

Surrey

TW20 0DF

28th September 2021

FIXED ASSETS

Intangible assets

4

300

-

Tangible assets

5

27,681

22,591

27,981

22,591

CURRENT ASSETS

Debtors

6

104,367

92,671

Prepayments and accrued income

30,403

-

Cash at bank

174,188

154,908

308,958

247,579

CREDITORS

Amounts falling due within one year

7

125,206

108,880

NET CURRENT ASSETS

183,752

138,699

TOTAL ASSETS LESS CURRENT LIABILITIES

211,733

161,290

CREDITORS

Amounts falling due after more than one year

8

53,942

3,942

NET ASSETS

157,791

157,348

CAPITAL AND RESERVES

Called up share capital

9

63

63

Capital redemption reserve

10

30

30

Retained earnings

10

157,698

157,255

SHAREHOLDERS' FUNDS

157,791

157,348

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 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 28th September 2021 and were signed on its behalf by:

Mr Gary Bryan Wordsworth - Director

1.	STATUTORY INFORMATION

Westwood Rock 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 the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due. Where a contract has only been partially completed at the balance sheet date turnover represents the value of the service provided to date based on a proportion of the total expected consideration at completion.

Where payments are received from customers in advance of services provided, the amounts are recorded as Deferred Income and included as part of Creditors due within one year.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Computer software is being amortised evenly over its estimated useful life of nil years.

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

-

20% on cost

Computer equipment

-

50% on cost

Government grants

De Minimis Aid Grant - The company accounts for grants using the accrual method. The company received a De Minimis Aid Grant during the year of £36,234.18.

Local Authority Discretionary Grant - The company accounts for grants using the accrual method. The company received a Local Authority Discretionary Grant during the year of £7,005.37.

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2019 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Patents

and

Computer

licences

software

Totals

£

£

£

COST

At 1st January 2020

-

7,202

7,202

Additions

300

-

300

At 31st December 2020

300

7,202

7,502

AMORTISATION

At 1st January 2020

and 31st December 2020

-

7,202

7,202

NET BOOK VALUE

At 31st December 2020

300

-

300

At 31st December 2019

-

-

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1st January 2020

16,047

625

21,334

38,006

Additions

13,268

-

4,596

17,864

At 31st December 2020

29,315

625

25,930

55,870

DEPRECIATION

At 1st January 2020

5,535

625

9,255

15,415

Charge for year

4,709

-

8,065

12,774

At 31st December 2020

10,244

625

17,320

28,189

NET BOOK VALUE

At 31st December 2020

19,071

-

8,610

27,681

At 31st December 2019

10,512

-

12,079

22,591

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

100,390

90,645

Directors' current accounts

1,759

-

Prepayments and accrued income

2,218

2,026

104,367

92,671

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

6,256

632

Tax

2,574

16,086

Social security and other taxes

10,364

8,457

VAT

70,247

43,620

Other creditors

130

989

Directors' current accounts

34,295

37,756

Accruals and deferred income

1,340

1,340

125,206

108,880

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Long Term Loans - DLA's

3,942

3,942

HSBC Loan

50,000

-

53,942

3,942

The bank loan is part of the BBL Scheme that was launched on 27 April 2020. The scheme is 100% government backed. The interest rate is 2.5% per year and the term of the loan is 5 years, and early repayment is possible without additional charges.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

61

Ordinary

£1

61

61

1

A Ordinary

£1

1

1

1

B Ordinary

£1

1

1

63

63

10.

RESERVES

Capital

Retained

redemption

earnings

reserve

Totals

£

£

£

At 1st January 2020

157,255

30

157,285

Profit for the year

16,065

16,065

Dividends

(15,622

)

(15,622

)

At 31st December 2020

157,698

30

157,728

11.	RELATED PARTY DISCLOSURES

At the year end, the company owed to its director, Mr Gary Bryan Wordsworth £37,265 (2019 - £40,147) and owes from director Mr Keith Noel Jenkins £788 (2019 - £1,553 owed to director).

These loans are interest free, unsecured and repayable on demand.

The company is owned and controlled by its shareholders and directors.

12.	CORONAVIRUS

On 11 March 2020 the World Health Organisation declared the COVID-19 outbreak as a worldwide pandemic. The directors are carefully monitoring the situation and following the applicable guidance issued by the UK Government. The outbreak has had a significant impact on both people and industry across the world. Due to the nature of the outbreak and the ongoing affect it is having globally it is currently very difficult to fully predict the overall impact this situation will have on the company and the business going forward.