WESTERN ROAD WAREHOUSE LIMITED


Silverfin false 31/03/2023 01/04/2022 31/03/2023 Mr Luke Galton 28/03/2018 Mr Rick Galton 28/03/2018 10 October 2023 The principal activity of the Company during the financial year was property investment. 11279517 2023-03-31 11279517 bus:Director1 2023-03-31 11279517 bus:Director2 2023-03-31 11279517 2022-03-31 11279517 core:CurrentFinancialInstruments 2023-03-31 11279517 core:CurrentFinancialInstruments 2022-03-31 11279517 core:Non-currentFinancialInstruments 2023-03-31 11279517 core:Non-currentFinancialInstruments 2022-03-31 11279517 core:ShareCapital 2023-03-31 11279517 core:ShareCapital 2022-03-31 11279517 core:LandBuildings 2022-03-31 11279517 core:LandBuildings 2023-03-31 11279517 2022-04-01 2023-03-31 11279517 bus:FullAccounts 2022-04-01 2023-03-31 11279517 bus:SmallEntities 2022-04-01 2023-03-31 11279517 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 11279517 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 11279517 bus:Director1 2022-04-01 2023-03-31 11279517 bus:Director2 2022-04-01 2023-03-31 11279517 2021-04-01 2022-03-31 11279517 core:LandBuildings 2022-04-01 2023-03-31 11279517 core:Non-currentFinancialInstruments 2022-04-01 2023-03-31 iso4217:GBP xbrli:pure

Company No: 11279517 (England and Wales)

WESTERN ROAD WAREHOUSE LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

WESTERN ROAD WAREHOUSE LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

WESTERN ROAD WAREHOUSE LIMITED

BALANCE SHEET

As at 31 March 2023
WESTERN ROAD WAREHOUSE LIMITED

BALANCE SHEET (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 1,489,926 1,458,594
1,489,926 1,458,594
Current assets
Debtors 4 76,289 82,973
Cash at bank and in hand 25,945 21,973
102,234 104,946
Creditors: amounts falling due within one year 5 ( 640,385) ( 615,602)
Net current liabilities (538,151) (510,656)
Total assets less current liabilities 951,775 947,938
Creditors: amounts falling due after more than one year 6 ( 951,735) ( 947,898)
Net assets 40 40
Capital and reserves
Called-up share capital 40 40
Total shareholder's funds 40 40

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

  • The member has not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
  • The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
  • These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of Western Road Warehouse Limited (registered number: 11279517) were approved and authorised for issue by the Board of Directors on 10 October 2023. They were signed on its behalf by:

Mr Rick Galton
Director
WESTERN ROAD WAREHOUSE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
WESTERN ROAD WAREHOUSE LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Western Road Warehouse Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Towngate House, 2-8 Parkstone Road, Poole, BH15 2PW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.
Revenue from services is recognised as they are delivered.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation.

Land and buildings not depreciated

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a 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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Land and buildings Total
£ £
Cost
At 01 April 2022 1,458,594 1,458,594
Additions 31,332 31,332
At 31 March 2023 1,489,926 1,489,926
Accumulated depreciation
At 01 April 2022 0 0
At 31 March 2023 0 0
Net book value
At 31 March 2023 1,489,926 1,489,926
At 31 March 2022 1,458,594 1,458,594

4. Debtors

2023 2022
£ £
Other debtors 76,289 82,973

5. Creditors: amounts falling due within one year

2023 2022
£ £
Bank loans 2,666 2,222
Other creditors 637,719 613,380
640,385 615,602

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Bank loans (secured) 951,735 947,898

The bank loans are secured on freehold and leasehold properties of the Company with a carrying value of £ 1,489,926 (2022: £ 1,458,594 )