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Company Registration No. 04388165 (England and Wales)
WHETLEY MILLS LIMITED Unaudited accounts for the year ended 31 January 2023
WHETLEY MILLS LIMITED Unaudited accounts Contents
Page
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WHETLEY MILLS LIMITED Company Information for the year ended 31 January 2023
Directors
Tahir Zeshan Hussain Mohammad Salman Hussain
Secretary
Tahir Zeshan Hussain
Company Number
04388165 (England and Wales)
Registered Office
Whetley Mills Business Park 370 Thornton Road Bradford BD8 8LQ England
Accountants
Shipleys Chartered Accountants 32 Park Cross Street Leeds West Yorkshire LS1 2QH
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WHETLEY MILLS LIMITED Statement of financial position as at 31 January 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
29,949 
30,838 
Investment property
6,828,630 
6,798,530 
6,858,579 
6,829,368 
Current assets
Debtors
112,217 
97,615 
Cash at bank and in hand
96,354 
202,486 
208,571 
300,101 
Creditors: amounts falling due within one year
(299,001)
(314,978)
Net current liabilities
(90,430)
(14,877)
Total assets less current liabilities
6,768,149 
6,814,491 
Creditors: amounts falling due after more than one year
(2,515,012)
(2,696,943)
Provisions for liabilities
Deferred tax
(15,494)
(18,009)
Net assets
4,237,643 
4,099,539 
Capital and reserves
Called up share capital
1,000 
1,000 
Revaluation reserve
1,513,000 
1,513,000 
Profit and loss account
2,723,643 
2,585,539 
Shareholders' funds
4,237,643 
4,099,539 
For the year ending 31 January 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 16 October 2023 and were signed on its behalf by
Tahir Zeshan Hussain Director Company Registration No. 04388165
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WHETLEY MILLS LIMITED Notes to the Accounts for the year ended 31 January 2023
1
Statutory information
WHETLEY MILLS LIMITED is a private company, limited by shares, registered in England and Wales, registration number 04388165. The registered office is Whetley Mills Business Park, 370 Thornton Road, Bradford, BD8 8LQ, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Going concern
At the time of signing these accounts, having considered the economic climate, the Directors expectations and intentions for the next twelve months, and the availability of working capital, the Directors are of the opinion that the Company will remain viable for the foreseeable future and therefore these Financial Statements have been prepared on the Going Concern basis.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% on reducing balance
Motor vehicles
25% on reducing balance
Fixtures & fittings
15% on reducing balance
Computer equipment
20% on reducing balance
Investment property
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
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WHETLEY MILLS LIMITED Notes to the Accounts for the year ended 31 January 2023
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 February 2022
42,642 
8,089 
92,784 
- 
143,515 
Additions
699 
- 
2,712 
1,074 
4,485 
At 31 January 2023
43,341 
8,089 
95,496 
1,074 
148,000 
Depreciation
At 1 February 2022
38,752 
5,253 
68,672 
- 
112,677 
Charge for the year
688 
709 
3,977 
- 
5,374 
At 31 January 2023
39,440 
5,962 
72,649 
- 
118,051 
Net book value
At 31 January 2023
3,901 
2,127 
22,847 
1,074 
29,949 
At 31 January 2022
3,890 
2,836 
24,112 
- 
30,838 
5
Investment property
2023 
£ 
Fair value at 1 February 2022
6,798,530 
Additions
30,100 
At 31 January 2023
6,828,630 
The market value of the company's investment properties at the valuation date of December 2020 has been incorporated in to these financial statements as the value as at 31 January 2023. The valuation was undertaken by Knight Frank Valuation & Advisory. In the opinion of the directors the difference in valuation between the two two dates is considered immaterial.
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
26,508 
1,897 
Accrued income and prepayments
69,709 
75,718 
Other debtors
16,000 
20,000 
112,217 
97,615 
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WHETLEY MILLS LIMITED Notes to the Accounts for the year ended 31 January 2023
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
33,332 
33,332 
VAT
15,199 
9,478 
Trade creditors
57,088 
56,479 
Taxes and social security
32,580 
29,710 
Other creditors
131,409 
150,908 
Loans from directors
247 
628 
Accruals
28,458 
34,443 
Deferred income
688 
- 
299,001 
314,978 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
2,333,257 
2,360,577 
Other creditors
181,755 
336,366 
2,515,012 
2,696,943 
Bank loans and overdrafts are secured by means of a first legal charge over one of the company's investment properties and a debenture over the assets and undertaking of the company.
9
Deferred taxation
2023 
2022 
£ 
£ 
Accelerated capital allowances
18,009 
13,656 
Revaluation of investment property
(3,012)
- 
Other deferred taxation
497 
4,353 
15,494 
18,009 
2023 
2022 
£ 
£ 
Provision at start of year
18,009 
13,656 
(Credited)/charged to the profit and loss account
(2,515)
4,353 
Provision at end of year
15,494 
18,009 
10
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000 
1,000 
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WHETLEY MILLS LIMITED Notes to the Accounts for the year ended 31 January 2023
11
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Tahir Zeshan Hussain
362 
16,581 
16,500 
443 
Mohammad Salman Hussain
265 
2,798 
3,000 
63 
627 
19,379 
19,500 
506 
The advances are interest free and are included as 'Loans from Directors' in 'Creditors: amounts falling due within one year' at note 8 above.
12
Average number of employees
During the year the average number of employees was 9 (2022: 9).
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