Company Registration No. 10000535 (England and Wales)
WHITELAND PROJECTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
30 SEPTEMBER 2022
PAGES FOR FILING WITH REGISTRAR
Brightfield Business Hub
Bakewell Road
Orton Southgate
Peterborough
Cambridgeshire
PE2 6XU
WHITELAND PROJECTS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
WHITELAND PROJECTS LIMITED
BALANCE SHEET
AS AT 30 SEPTEMBER 2022
30 September 2022
- 1 -
2022
2021
Notes
£
£
£
£
Current assets
Debtors
3
1,143,647
1,023,636
Cash at bank and in hand
-
0
133,952
1,143,647
1,157,588
Creditors: amounts falling due within one year
4
(1,420,629)
(1,329,960)
Net current liabilities
(276,982)
(172,372)
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
(276,983)
(172,373)
Total equity
(276,982)
(172,372)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 September 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

The financial statements were approved and signed by the director and authorised for issue on 4 October 2023
KS Hick
Director
Company Registration No. 10000535
WHITELAND PROJECTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
- 2 -
1
Accounting policies
Company information

Whiteland Projects Limited is a private company limited by shares incorporated in England and Wales. The registered office is Larkfleet House, Falcon Way, Southfield Business Park, Bourne, Lincolnshire, PE10 0FF.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

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 financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2
Going concern

The financial statements have been prepared on a going concern basis.true

The business is being carried out with a long term aim of profitability, and the director is confident that the company will be able to meet its liabilities as and when they fall due for the foreseeable future.

The director is therefore of the opinion that it is appropriate to prepare the accounts on a going concern basis.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recover ed.

WHITELAND PROJECTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2022
1
Accounting policies
(Continued)
- 3 -
1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method 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. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities

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.

Basic financial liabilities

Basic financial liabilities, including 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 paymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A m ounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

WHITELAND PROJECTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2022
1
Accounting policies
(Continued)
- 4 -
1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2022
2021
Number
Number
Total
1
1
3
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
8,464
8,464
Amounts owed by group undertakings
1,118,939
1,015,172
Other debtors
16,244
-
0
1,143,647
1,023,636
4
Creditors: amounts falling due within one year
2022
2021
£
£
Trade creditors
1,518
-
0
Amounts owed to group undertakings
1,073,578
975,058
Taxation and social security
-
0
18,506
Other creditors
345,533
336,396
1,420,629
1,329,960
WHITELAND PROJECTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2022
- 5 -
5
Parent company

The company's immediate parent is Lark Power Group Limited, incorporated in England & Wales.

The ultimate controlling party is KS Hick.

The most senior parent entity producing publicly available financial statements is Lark Power Group Limited. These financial statements are available upon request from :

Larkfleet House

Falcon Way

Southfield Business Park

Bourne

PE10 0FF

2022-09-30 2021-10-01 false 04 October 2023 CCH Software CCH Accounts Production 2023.200 No description of principal activity KS Hick 10000535 2021-10-01 2022-09-30 10000535 2022-09-30 10000535 2021-09-30 10000535 core:CurrentFinancialInstruments core:WithinOneYear 2022-09-30 10000535 core:CurrentFinancialInstruments core:WithinOneYear 2021-09-30 10000535 core:CurrentFinancialInstruments 2022-09-30 10000535 core:CurrentFinancialInstruments 2021-09-30 10000535 core:ShareCapital 2022-09-30 10000535 core:ShareCapital 2021-09-30 10000535 core:RetainedEarningsAccumulatedLosses 2022-09-30 10000535 core:RetainedEarningsAccumulatedLosses 2021-09-30 10000535 bus:Director1 2021-10-01 2022-09-30 10000535 2020-10-01 2021-09-30 10000535 core:WithinOneYear 2022-09-30 10000535 core:WithinOneYear 2021-09-30 10000535 bus:PrivateLimitedCompanyLtd 2021-10-01 2022-09-30 10000535 bus:SmallCompaniesRegimeForAccounts 2021-10-01 2022-09-30 10000535 bus:FRS102 2021-10-01 2022-09-30 10000535 bus:AuditExemptWithAccountantsReport 2021-10-01 2022-09-30 10000535 bus:FullAccounts 2021-10-01 2022-09-30 xbrli:pure xbrli:shares iso4217:GBP