Whitfields Formby Limited 07149173 false 2021-05-01 2022-04-30 2022-04-30 The principal activity of the company is that of a solicitors Digita Accounts Production Advanced 6.30.9574.0 true 07149173 2021-05-01 2022-04-30 07149173 2022-04-30 07149173 bus:OrdinaryShareClass1 2022-04-30 07149173 core:RetainedEarningsAccumulatedLosses 2022-04-30 07149173 core:ShareCapital 2022-04-30 07149173 core:CurrentFinancialInstruments 2022-04-30 07149173 core:CurrentFinancialInstruments core:WithinOneYear 2022-04-30 07149173 core:Non-currentFinancialInstruments 2022-04-30 07149173 core:Non-currentFinancialInstruments core:AfterOneYear 2022-04-30 07149173 core:Goodwill 2022-04-30 07149173 bus:SmallEntities 2021-05-01 2022-04-30 07149173 bus:AuditExemptWithAccountantsReport 2021-05-01 2022-04-30 07149173 bus:FullAccounts 2021-05-01 2022-04-30 07149173 bus:SmallCompaniesRegimeForAccounts 2021-05-01 2022-04-30 07149173 bus:RegisteredOffice 2021-05-01 2022-04-30 07149173 bus:Director3 2021-05-01 2022-04-30 07149173 bus:OrdinaryShareClass1 2021-05-01 2022-04-30 07149173 bus:PrivateLimitedCompanyLtd 2021-05-01 2022-04-30 07149173 core:Goodwill 2021-05-01 2022-04-30 07149173 core:FurnitureFittings 2021-05-01 2022-04-30 07149173 countries:AllCountries 2021-05-01 2022-04-30 07149173 2021-04-30 07149173 core:Goodwill 2021-04-30 07149173 2020-05-01 2021-04-30 07149173 2021-04-30 07149173 bus:OrdinaryShareClass1 2021-04-30 07149173 core:RetainedEarningsAccumulatedLosses 2021-04-30 07149173 core:ShareCapital 2021-04-30 07149173 core:CurrentFinancialInstruments 2021-04-30 07149173 core:CurrentFinancialInstruments core:WithinOneYear 2021-04-30 07149173 core:Non-currentFinancialInstruments 2021-04-30 07149173 core:Non-currentFinancialInstruments core:AfterOneYear 2021-04-30 07149173 core:Goodwill 2021-04-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 07149173

Whitfields Formby Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2022

 

Whitfields Formby Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Whitfields Formby Limited

(Registration number: 07149173)
Balance Sheet as at 30 April 2022

Note

30 April
2022
£

30 April
2021
£

           

Fixed assets

   

 

Intangible assets

4

 

96,000

 

96,000

Current assets

   

 

Debtors

5

44,695

 

49,853

 

Cash at bank and in hand

 

1,029

 

7,403

 

 

45,724

 

57,256

 

Creditors: Amounts falling due within one year

6

(482,582)

 

(435,017)

 

Net current liabilities

   

(436,858)

 

(377,761)

Total assets less current liabilities

   

(340,858)

 

(281,761)

Creditors: Amounts falling due after more than one year

6

 

(2,740)

 

(35,952)

Net liabilities

   

(343,598)

 

(317,713)

Capital and reserves

   

 

Called up share capital

7

103

 

103

 

Profit and loss account

(343,701)

 

(317,816)

 

Shareholders' deficit

   

(343,598)

 

(317,713)

 

Whitfields Formby Limited

(Registration number: 07149173)
Balance Sheet as at 30 April 2022

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

Director's responsibilities:

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

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 17 October 2023
 

.........................................
Mr B Whitfield
Director

 

Whitfields Formby Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Marion House 23-25 Elbow Lane
Formby
Liverpool
Merseyside
L37 4AB

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The company's functional and presentational currency is GBP and no level of rounding has been used in presenting the financial statements.

Depreciation

Asset class

Depreciation method and rate

Fixture and fittings

15% Reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Whitfields Formby Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Whitfields Formby Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2021 - 1).

 

Whitfields Formby Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 May 2021

96,000

96,000

At 30 April 2022

96,000

96,000

Amortisation

Carrying amount

At 30 April 2022

96,000

96,000

At 30 April 2021

96,000

96,000

5

Debtors

Note

30 April
2022
£

30 April
2021
£

Trade debtors

 

25,988

31,146

Amounts owed by related parties

18,707

18,707

 

44,695

49,853

6

Creditors

Creditors: amounts falling due within one year

Note

30 April
2022
£

30 April
2021
£

Due within one year

 

Bank loans and overdrafts

8

36,037

36,037

Trade creditors

 

8,204

17,566

Amounts owed to related parties

198,273

126,946

Taxation and social security

 

7,344

22,344

Other creditors

 

232,724

232,124

 

482,582

435,017

Creditors: amounts falling due after more than one year

Note

30 April
2022
£

30 April
2021
£

Due after one year

 

Loans and borrowings

8

2,740

35,952

 

Whitfields Formby Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022

7

Share capital

Allotted, called up and fully paid shares

 

30 April
2022

30 April
2021

 

No.

£

No.

£

Ordinary Shares of £1 each

103

103

103

103

         
 

Whitfields Formby Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2022

8

Loans and borrowings

30 April
2022
£

30 April
2021
£

Non-current loans and borrowings

Bank borrowings

2,740

35,952

30 April
2022
£

30 April
2021
£

Current loans and borrowings

Bank borrowings

36,037

36,037