ACCOUNTS - Final Accounts

WESTERN RIDGE RESIDENTIAL LIMITED - Company Information

Caseware UK (AP4) 2021.0.152 2021.0.152 2021-05-312021-05-312022-05-09The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2020-06-011falseNo description of principal activity1falsetrue 11997632 2020-06-01 2021-05-31 11997632 2019-05-15 2020-05-31 11997632 2021-05-31 11997632 2020-05-31 11997632 c:Director1 2020-06-01 2021-05-31 11997632 c:RegisteredOffice 2020-06-01 2021-05-31 11997632 d:CurrentFinancialInstruments 2021-05-31 11997632 d:CurrentFinancialInstruments 2020-05-31 11997632 d:CurrentFinancialInstruments d:WithinOneYear 2021-05-31 11997632 d:CurrentFinancialInstruments d:WithinOneYear 2020-05-31 11997632 d:ShareCapital 2021-05-31 11997632 d:ShareCapital 2020-05-31 11997632 d:RetainedEarningsAccumulatedLosses 2021-05-31 11997632 d:RetainedEarningsAccumulatedLosses 2020-05-31 11997632 c:OrdinaryShareClass1 2020-06-01 2021-05-31 11997632 c:OrdinaryShareClass1 2021-05-31 11997632 c:OrdinaryShareClass1 2020-05-31 11997632 c:FRS102 2020-06-01 2021-05-31 11997632 c:AuditExempt-NoAccountantsReport 2020-06-01 2021-05-31 11997632 c:FullAccounts 2020-06-01 2021-05-31 11997632 c:PrivateLimitedCompanyLtd 2020-06-01 2021-05-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11997632

WESTERN RIDGE RESIDENTIAL LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2021

WESTERN RIDGE RESIDENTIAL LIMITED

CONTENTS

	Page
Company information	1
Balance sheet	2
Notes to the financial statements	3 - 6

WESTERN RIDGE RESIDENTIAL LIMITED

COMPANY INFORMATION

Director	L Simon


Registered number	11997632


Registered office	Palladium House
	1-4 Argyll Street
	London
	W1F 7LD


Accountants	Blick Rothenberg Limited
	Chartered Accountants
	16 Great Queen Street
	Covent Garden
	London
	WC2B 5AH

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REGISTERED NUMBER:11997632

WESTERN RIDGE RESIDENTIAL LIMITED

BALANCE SHEET

AS AT 31 MAY 2021

		2021		2020
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	59,033		59,033
		59,033		59,033
Creditors: amounts falling due within one year	5	(15,455)		(13,646)
Net current assets			43,578		45,387
Total assets less current liabilities			43,578		45,387

Net assets			43,578		45,387

Capital and reserves
Called up share capital	6	1	1
Profit and loss account		43,577	45,386
		43,578	45,387

The director considers 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 director acknowledges his 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 profit and loss account 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:

L Simon

Director

Date: 9 May 2022

The notes on pages 3 to 6 form part of these financial statements.

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WESTERN RIDGE RESIDENTIAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2021

1.	General information

Western Ridge Residential Limited is a private company limited by shares incorporated in England and Wales. Its registered office is Palladium House, 1-4 Argyll Street, London, W1F 7LD.
The financial statements are presented in Sterling (£).

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

Going concern

After making enquiries, the director has a reasonable expectation that the Company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

∙the Company has transferred the significant risks and rewards of ownership to the buyer;

∙the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the transaction; and

∙the costs incurred or to be incurred in respect of the transaction can be measured reliably.

2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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WESTERN RIDGE RESIDENTIAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2021

2.Accounting policies (continued)

2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

2.6

Share capital

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

2.7

Financial instruments

The Company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.
Financial assets and financial liabilities are recognised when the Company becomes party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

The Company’s policies for its major classes of financial assets and financial liabilities are set out below.

Financial assets
Basic financial assets, including trade and other debtors, cash and bank balances, intercompany working capital balances, and intercompany financing are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Financial liabilities
Basic financial liabilities, including trade and other creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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WESTERN RIDGE RESIDENTIAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2021

2.Accounting policies (continued)

Financial instruments (continued)

Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account.
For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Employees

The average monthly number of employees, including directors, during the year was 1 (2020 - 1).

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WESTERN RIDGE RESIDENTIAL LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2021

Debtors

					2021	2020
					£	£


Other debtors	59,033	59,033
	59,033	59,033

5.	Creditors: Amounts falling due within one year
		2021	2020
		£	£

Trade creditors	433	-
Corporation tax	10,222	10,646
Accruals and deferred income	4,800	3,000
	15,455	13,646

6.	Share capital
		2021	2020
		£	£

Allotted, called up and fully paid

1 (2020 - 1) Ordinary share of £1.00	1	1

7.	Related party transactions
	As at the balance sheet date the Company was owed £59,033 (2020: £59,033) by companies under common control.

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