Westwood Rock Limited
Westwood Rock Limited
Registered number: 03878445
Unaudited Financial Statements
For The Year Ended
31 December 2023
Westwood Rock Limited
Unaudited Financial Statements
For The Year Ended
31 December 2023
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—6 |
Page 1
Westwood Rock Limited
Balance Sheet
As At
31 December 2023
Balance Sheet
Registered number:
03878445
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Intangible Assets | 4 |
|
|
||
| Tangible Assets | 5 |
|
|
||
|
|
|
||||
| CURRENT ASSETS | |||||
| Debtors | 6 |
|
|
||
| Cash at bank and in hand |
|
|
|||
|
|
|
||||
| Creditors: Amounts Falling Due Within One Year | 7 |
( |
( |
||
| NET CURRENT ASSETS (LIABILITIES) |
|
|
|||
| TOTAL ASSETS LESS CURRENT LIABILITIES |
|
|
|||
| Creditors: Amounts Falling Due After More Than One Year | 8 |
|
( |
||
| NET ASSETS |
|
|
|||
| CAPITAL AND RESERVES | |||||
| Called up share capital | 9 |
|
|
||
| Capital redemption reserve |
|
|
|||
| Profit and Loss Account |
|
|
|||
| SHAREHOLDERS' FUNDS | 173,047 | 117,508 | |||
Page 1
Page 2
Westwood Rock Limited
Balance Sheet (continued)
As At
31 December 2023
On behalf of the board
|
Director
|
|
|
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Westwood Rock Limited
Notes to the Financial Statements
For The Year Ended
31 December 2023
Notes to the Financial Statements
1.
General Information
Westwood Rock Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
03878445
. The registered office is 2 The Tithe Barn, Hawkesbury Upton, Badminton, GL9 1AY.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3.
Intangible Fixed Assets and Amortisation - Other Intangible
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 2 years.
2.4.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Plant & Machinery |
|
| Fixtures & Fittings |
|
| Computer Equipment |
|
Page 3
Page 4
Westwood Rock Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 December 2023
2.5.
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.6.
Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3.
Average Number of Employees
Average number of employees, including directors, during the year was: 5 (2022: 9)
4.
Intangible Assets
| Other | Computer software | Total | |
|---|---|---|---|
| £ | £ | £ | |
| Cost | |||
| As at
|
|
|
|
| Additions |
|
|
|
| As at
|
|
|
|
| Amortisation | |||
| As at
|
|
|
|
| Provided during the period |
|
|
|
| As at
|
|
|
|
| Net Book Value | |||
| As at
|
|
|
|
| As at
|
|
|
|
Page 4
Page 5
Westwood Rock Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 December 2023
5.
Tangible Assets
| Plant & Machinery | Fixtures & Fittings | Computer Equipment | Total | |
|---|---|---|---|---|
| £ | £ | £ | £ | |
| Cost | ||||
| As at
|
|
|
|
|
| Additions |
|
|
|
|
| As at
|
|
|
|
|
| Depreciation | ||||
| As at
|
|
|
|
|
| Provided during the period |
|
|
|
|
| As at
|
|
|
|
|
| Net Book Value | ||||
| As at
|
|
|
|
|
| As at
|
|
|
|
|
6.
Debtors
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
|
|
|
| Prepayments and accrued income |
|
|
|
|
|
|
||
7.
Creditors: Amounts Falling Due Within One Year
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Trade creditors |
|
|
|
| Other creditors | 11,540 | 51,119 | |
| Taxation and social security |
|
|
|
|
|
|
||
Page 5
Page 6
Westwood Rock Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 December 2023
8.
Creditors: Amounts Falling Due After More Than One Year
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| HSBC Loan |
|
|
|
| BBL Due 1-2 yr |
|
|
|
| Directors loan account |
|
|
|
|
|
|
||
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. This loan was fully repaid during the year.
9.
Share Capital
| 2023 | 2022 | ||
|---|---|---|---|
| £ | £ | ||
| Allotted, Called up and fully paid |
|
|
|
The company bought back 30 Ordinary £1.00 shares and 1 Ordinary B £1.00 share in the current year.
During the current year the follwing shares were issued:
1 Ordinary C share
1 Ordinary D share
1 Ordinary E share
1 Ordinary F share
1 Ordinary G share
1 Ordinary H share
10.
Related Party Transactions
At the balance sheet date, included within other creditors due within one year, is an amount of £3,986 (2022: £37,701) owed to the directors. These loans are interest free, of no fixed term and repayable on demand.
During the year, dividends amounting to £10,413 (2022: £15,621) were paid to the directors.
The controlling parties are the company directors by virtue of their shareholdings.
Page 6