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REGISTERED NUMBER: NI009396 (Northern Ireland)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2023

FOR

WHITECLIFF HOLDINGS LIMITED

WHITECLIFF HOLDINGS LIMITED (REGISTERED NUMBER: NI009396)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


WHITECLIFF HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2023







DIRECTORS: C Donnelly
J I Donnelly
N Donnelly



REGISTERED OFFICE: Whitecliff Inn Chester Avenue
Whitehead
Carrickfergus
BT38 9QQ



REGISTERED NUMBER: NI009396 (Northern Ireland)



ACCOUNTANTS: Baker Tilly Mooney Moore
Chartered Certified Accountants
17 Clarendon Road
Clarendon Dock
Belfast
BT1 3BG



BANKERS: First Trust Bank
31 - 35 High Street
Belfast
Co. Antrim
BT1 2AL



SOLICITORS: Agnew Andress Higgins
92 High Street
Belfast
BT1 2AL

WHITECLIFF HOLDINGS LIMITED (REGISTERED NUMBER: NI009396)

BALANCE SHEET
30 APRIL 2023

30.4.23 30.4.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 46,815 45,298
Investments 5 1,474,340 1,487,540
Investment property 6 55,378 55,378
1,576,533 1,588,216

CURRENT ASSETS
Stocks 19,015 16,467
Debtors 7 30,969 34,504
Cash at bank and in hand 52,020 174,719
102,004 225,690
CREDITORS
Amounts falling due within one year 8 192,262 227,806
NET CURRENT LIABILITIES (90,258 ) (2,116 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,486,275

1,586,100

CAPITAL AND RESERVES
Called up share capital 80 80
Capital redemption reserve 20 20
Retained earnings 1,486,175 1,586,000
SHAREHOLDERS' FUNDS 1,486,275 1,586,100

WHITECLIFF HOLDINGS LIMITED (REGISTERED NUMBER: NI009396)

BALANCE SHEET - continued
30 APRIL 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 November 2023 and were signed on its behalf by:





J I Donnelly - Director


WHITECLIFF HOLDINGS LIMITED (REGISTERED NUMBER: NI009396)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023


1. STATUTORY INFORMATION

Whitecliff Holdings Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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.

Preparation of consolidated financial statements
The financial statements contain information about Whitecliff Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Significant judgements and estimates
In preparing these financial statements the directors have made the following judgements:

Establish whether there are indicators of impairment of the company's tangible assets, investment property and investments. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and the business in general.

The directors also consider the depreciation rates on an annual basis to ensure there is sufficient evidence to support these and that the estimates remains reasonable.

Turnover
Turnover represents the total amount of sales stated net of value added tax.


Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Fixtures, fittings & equipment - 20% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Stocks are stated at the lower of cost and net realisable value as follows:

Goods for resale Purchase cost on a first-in-first-out basis

Net realisable value is based on selling price.


WHITECLIFF HOLDINGS LIMITED (REGISTERED NUMBER: NI009396)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
All financial instruments of the company are considered to meet the definition of basic financial instruments.

- Short term debtors and creditors
Debtors and creditors with no stated interest rate and are receivable or payable on demand are recognised at transaction price, and subject to annual impairment reviews. Any losses arising on impairment are recognised in the profit and loss account.

- Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investments
Investments in unlisted shares and the subsidiary company are measured at cost less accumulated impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 14 ) .

WHITECLIFF HOLDINGS LIMITED (REGISTERED NUMBER: NI009396)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


4. TANGIBLE FIXED ASSETS
Fixtures,
Freehold fittings
property & equipment Totals
£    £    £   
COST
At 1 May 2022 124,233 107,885 232,118
Additions - 5,235 5,235
At 30 April 2023 124,233 113,120 237,353
DEPRECIATION
At 1 May 2022 79,060 107,760 186,820
Charge for year 2,484 1,234 3,718
At 30 April 2023 81,544 108,994 190,538
NET BOOK VALUE
At 30 April 2023 42,689 4,126 46,815
At 30 April 2022 45,173 125 45,298

5. FIXED ASSET INVESTMENTS
Shares in
connected Other
undertakings investments Totals
£    £    £   
COST
At 1 May 2022 182,540 1,305,000 1,487,540
Disposals - (13,200 ) (13,200 )
At 30 April 2023 182,540 1,291,800 1,474,340
NET BOOK VALUE
At 30 April 2023 182,540 1,291,800 1,474,340
At 30 April 2022 182,540 1,305,000 1,487,540

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2022
and 30 April 2023 55,378
NET BOOK VALUE
At 30 April 2023 55,378
At 30 April 2022 55,378

The directors consider there to be no change in the investment property value in the year under review.

WHITECLIFF HOLDINGS LIMITED (REGISTERED NUMBER: NI009396)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2023


7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Other debtors 30,969 34,504

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.23 30.4.22
£    £   
Bank loans and overdrafts 39,167 49,167
Trade creditors 56,365 90,625
Amounts owed to group undertakings 64,282 53,262
Taxation and social security 17,182 18,305
Other creditors 15,266 16,447
192,262 227,806