Company Registration No. 03548559 (England and Wales)
Whitehill Properties Limited
Unaudited accounts
for the year ended 30 April 2023
Whitehill Properties Limited
Unaudited accounts
Contents
Whitehill Properties Limited
Company Information
for the year ended 30 April 2023
Directors
Mr J C Owen
Mrs J M Owen
Company Number
03548559 (England and Wales)
Registered Office
2 Meeting House Lane
Brighton
East Sussex
BN1 1HB
United Kingdom
Accountants
D M Pettitt Accountancy Services
33 Bowmans Close
Steyning
West Sussex
BN44 3SR
Whitehill Properties Limited
Statement of financial position
as at 30 April 2023
Investment property
3,434,482
3,434,482
Cash at bank and in hand
36,949
887,124
Creditors: amounts falling due within one year
(2,802,845)
(3,802,463)
Net current liabilities
(2,670,140)
(2,817,339)
Total assets less current liabilities
764,542
617,343
Creditors: amounts falling due after more than one year
(91,588)
(160,278)
Provisions for liabilities
Deferred tax
(47,712)
(47,712)
Net assets
625,242
409,353
Called up share capital
100
100
Revaluation reserve
71,273
71,273
Profit and loss account
553,869
337,980
Shareholders' funds
625,242
409,353
For the year ending 30 April 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 31 August 2023 and were signed on its behalf by
Mr J C Owen
Director
Company Registration No. 03548559
Whitehill Properties Limited
Notes to the Accounts
for the year ended 30 April 2023
Whitehill Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 03548559. The registered office is 2 Meeting House Lane, Brighton, East Sussex, BN1 1HB, United Kingdom.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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.
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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.
Fair value at 1 May 2022
3,434,482
At 30 April 2023
3,434,482
Book cost of investment property £3,315,496
5
Investments
Subsidiary undertakings
Valuation at 1 May 2022
200
Valuation at 30 April 2023
200
Whitehill Properties Limited
Notes to the Accounts
for the year ended 30 April 2023
Amounts falling due within one year
Other debtors
95,078
95,000
7
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
68,690
68,690
Taxes and social security
52,273
70,975
Other creditors
2,765
23,597
Loans from directors
2,635,633
3,591,536
8
Creditors: amounts falling due after more than one year
2023
2022
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
10
Transactions with related parties
At 30 April 2023 the company owed its director £2,635,636 (2022 £3,591,536) and this is included in creditors.
11
Average number of employees
During the year the average number of employees was 0 (2022: 0).