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COMPANY REGISTRATION NUMBER: 01226731
Whitting Estates Limited
Filleted Unaudited Abridged Financial Statements
31 October 2021
Whitting Estates Limited
Abridged Financial Statements
Year Ended 31 October 2021
Contents
Page
Abridged statement of financial position
1
Notes to the abridged financial statements
3
Whitting Estates Limited
Abridged Statement of Financial Position
31 October 2021
2021
2020
Note
£
£
£
Fixed Assets
Investments
4
90,000
170,000
Current Assets
Debtors
198
Cash at bank and in hand
151,052
69,344
---------
--------
151,250
69,344
Creditors: amounts falling due within one year
8,292
11,349
---------
--------
Net Current Assets
142,958
57,995
---------
---------
Total Assets Less Current Liabilities
232,958
227,995
---------
---------
Net Assets
232,958
227,995
---------
---------
Capital and Reserves
Called up share capital
5
202
202
Profit and loss account
232,756
227,793
---------
---------
Shareholders Funds
232,958
227,995
---------
---------
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.
For the year ending 31 October 2021 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 abridged financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 31 October 2021 in accordance with Section 444(2A) of the Companies Act 2006.
Whitting Estates Limited
Abridged Statement of Financial Position (continued)
31 October 2021
These abridged financial statements were approved by the board of directors and authorised for issue on 27 August 2022 , and are signed on behalf of the board by:
Mr J G Wilkins
Director
Company registration number: 01226731
Whitting Estates Limited
Notes to the Abridged Financial Statements
Year Ended 31 October 2021
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 91-97 Saltergate, Chesterfield, Derbyshire, S40 1LA.
2. Statement of compliance
These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
The turnover shown in the profit and loss account represents amounts earned during the year.
Income tax
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or a right to pay less or to receive more tax. Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance sheet date.
Investments
Fixed asset investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
4. Investments
Investment Property
£
Cost
At 1 November 2020
170,000
Disposals
( 80,000)
---------
At 31 October 2021
90,000
---------
Impairment
At 1 November 2020 and 31 October 2021
---------
Carrying amount
At 31 October 2021
90,000
---------
At 31 October 2020
170,000
---------
5. Called up share capital
Issued, called up and fully paid
2021
2020
No.
£
No.
£
Ordinary A shares of £ 1 each
200
200
200
200
Ordinary B shares of £ 1 each
2
2
2
2
----
----
----
----
202
202
202
202
----
----
----
----
6. Directors' advances, credits and guarantees
During the period the company made interest bearing loans at the appropriate rate as follows:
Balance at the year ended 31 Oct 2021 Advances in the year Repaid in the year Period ended 30/06/2022
£ £ £ £
R G Wilkins (3,440) (3,440)
J R G Wilkins (3,440) (3,440)
------- ---- ---- -------
Rental income (6,880) (6,880)
------- ---- ---- -------
7. Related party transactions
There were no transactions that require disclosure within the year.