W.S.WESTIN GROUP LIMITED Small abbreviated accounts

W. S. WESTIN GROUP LIMITED - Company Information

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Company registration number 352890

W.S.WESTIN GROUP LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

31 March 2015

W.S.WESTIN GROUP LIMITED

ABBREVIATED BALANCE SHEET

31 March 2015

		2015	2014
Note		£	£
Fixed assets	2
Tangible assets		1,502,845	1,011,366
Investments		737,554	737,554
		------------	------------
		2,240,399	1,748,920
		------------	------------

Current assets

Debtors	617,920	175,616

Creditors: Amounts falling due within one year	3	( 638,051)	( 473,554)
		------------	------------
Net current liabilities		(20,131)	(297,938)
		------------	------------
Total assets less current liabilities		2,220,268	1,450,982

Creditors: Amounts falling due after more than one year	4	( 812,648)	( 508,982)
		------------	------------
Net assets		1,407,620	942,000
		------------	------------

Capital and reserves

Called-up equity share capital	5	1,780	1,780
Revaluation reserve		175,185	177,246
Profit and loss account		1,230,655	762,974
		------------	------------
Shareholders' funds		1,407,620	942,000
		------------	------------

For the year ended 31 March 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476; and

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime.

These abbreviated financial statements were approved by the directors and authorised for issue on 1 September 2015 , and are signed on their behalf by:

J Eastwood Director

Company Registration Number: 352890

W.S.WESTIN GROUP LIMITED

NOTES TO THE ABBREVIATED FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2015

1. Accounting policies

Basis of accounting

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain fixed assets, and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

Consolidation

In the opinion of the directors, the company and its subsidiary undertakings comprise a small group. The company has therefore taken advantage of the exemption provided by Section 398 of the Companies Act 2006 not to prepare group accounts.

Turnover

The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.

Fixed assets

All fixed assets are initially recorded at cost .

Depreciation

Depreciation is calculated so as to write off the cost or revaluation of an asset over the useful economic life of that asset as follows:

Freehold Property - 1% on cost

Motor Vehicles - 25% on cost

Equipment - 25% on cost

An amount equal to the excess of the annual depreciation charge on revalued assets over the notional historical cost depreciation charge on those assets is transferred annually from the revaluation reserve to the profit and loss reserve.

Hire purchase agreements

Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account on a straight line basis.

Financial instruments

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 entity after deducting all of its financial liabilities.

Investments

Investments in subsidiary and related undertakings are initially stated at cost and are subject to an annual impairment review.

2. Fixed assets

Tangible Assets	Investments	Total
£	£	£

Cost or valuation

At 1 April 2014	1,142,656	737,554	1,880,210
Additions	546,657	–	546,657
Disposals	( 62,453)	–	( 62,453)
	------------	------------	------------
At 31 March 2015	1,626,860	737,554	2,364,414
	------------	------------	------------

Depreciation

At 1 April 2014	131,290	–	131,290
Charge for year	25,204	–	25,204
On disposals	( 32,479)	–	( 32,479)
	------------	------------	------------
At 31 March 2015	124,015	–	124,015
	------------	------------	------------

Net book value

At 31 March 2015	1,502,845	737,554	2,240,399
	------------	------------	------------
At 31 March 2014	1,011,366	737,554	1,748,920
	------------	------------	------------

The company's investments at the balance sheet date in the share capital of group undertakings comprise. W S Westin Limited Nature of business: Sheet metal fabrication. Class of shares: % holding Ordinary 100.00

	2015	2014
	£	£
Aggregate capital and reserves	1,023,159	934,817
Profit for the year	288,342	265,090
	------------	------------

Westin Drives Limited Nature of business: Supply and repair of electrical motors Class of shares: % holding Ordinary 100.00 Ordinary A 100.00 Ordinary B 100.00 Redeemable Preference shares 66.67

	2015	2014
	£	£
Aggregate capital and reserves	239,912	157,819
Profit for the year	82,093	48,412
	------------	------------

The company also has a shareholding in a related undertaking, Eastwood Financial Group Limited. The directors carry out an annual impairment review of the carrying value of all investments . In their opinion no impairment provision was required at 31 March 2015.

3. Creditors: Amounts falling due within one year

The following liabilities disclosed under creditors falling due within one year are secured by the company:

	2015	2014
	£	£
Bank loans and overdrafts	336,670	203,157
Hire purchase agreements	3,676	21,051
	------------	------------
	340,346	224,208
	------------	------------

4. Creditors: Amounts falling due after more than one year

The following liabilities disclosed under creditors falling due after more than one year are secured by the company:

	2015	2014
	£	£
Bank loans and overdrafts	798,402	473,686
Hire purchase agreements	14,246	35,296
	------------	------------
	812,648	508,982
	------------	------------

Included within creditors falling due after more than one year is an amount of £432,357 (2014 - £208,200) in respect of liabilities which fall due for payment after more than five years from the balance sheet date.

5. Share capital

Allotted, called up and fully paid:

	2015		2014
	No	£	No	£
Ordinary shares of £ 1 each	1,780	1,780	1,780	1,780
	------------	------------	------------	------------
	1,780	1,780	1,780	1,780
	------------	------------	------------	------------

6. Controlling interest

In the opinion of the directors the company is controlled by Mr J Eastwood .