WHITWORTH LTD |
Notes to the Accounts |
for the year ended 31 March 2023 |
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1 |
Accounting policies |
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Basis of preparation |
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The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
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Turnover |
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There is no turnover other than service charge contributions. The company owns a freehold and manages the flats on behalf of the lessees. |
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Tangible fixed assets |
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The company's tangible fixed asset is the freehold property made up of four flats leased out on long leases. The company does not depreciate the freehold as the directors consider the market value to be equal to or in excess of the cost.. |
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Taxation |
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A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. |
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2 |
Employees |
2023 |
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2022 |
Number |
Number |
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Average number of persons employed by the company |
4 |
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4 |
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3 |
Tangible fixed assets |
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Land and buildings |
£ |
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Cost |
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At 1 April 2022 |
26,670 |
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At 31 March 2023 |
26,670 |
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Depreciation |
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At 31 March 2023 |
- |
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Net book value |
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At 31 March 2023 |
26,670 |
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At 31 March 2022 |
26,670 |
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4 |
Creditors: amounts falling due within one year |
2023 |
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2022 |
£ |
£ |
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Other creditors |
27,806 |
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27,080 |
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Other creditorss include shareholders' loans of £26,670 and advance service chrages £1,136 (2022: £410). |
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5 |
Other information |
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WHITWORTH LTD is a private company limited by shares and incorporated in England. Its registered office is: |
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29 Whitworth Road |
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South Norwood |
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London |
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SE25 6XQ |