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Registration number: 11331520

Whitehall Residencies Limited

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 28 February 2023

 

Whitehall Residencies Limited

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Abridged Profit and Loss Account

4

Statement of Comprehensive Income

5

Abridged Balance Sheet

6

Statement of Changes in Equity

7

Notes to the Unaudited Abridged Financial Statements

8 to 12

 

Whitehall Residencies Limited

Company Information

Directors

J Mann

KK Mann

J Kandola

H Kandola

Registered office

Office 1
89
Sidcup High Street
Sidcup
DA14 6DW

Accountants

Kishens Limited
Chartered Accountants
13 Montpelier Avenue
Bexley
Kent
DA5 3AP

 

Whitehall Residencies Limited

Directors' Report for the Year Ended 28 February 2023

The directors present their report and the abridged financial statements for the year ended 28 February 2023.

Directors of the company

The directors who held office during the year were as follows:

J Mann

KK Mann

J Kandola

H Kandola

Principal activity

The principal activity of the company is that of buying and selling of own real estate.

Small companies provision statement

This report has 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.

Approved and authorised by the Board on 2 November 2023 and signed on its behalf by:
 

.........................................
J Mann
Director

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Whitehall Residencies Limited
for the Year Ended 28 February 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Whitehall Residencies Limited for the year ended 28 February 2023 as set out on pages 4 to 12 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Whitehall Residencies Limited, as a body, in accordance with the terms of our engagement letter dated 7 January 2020. Our work has been undertaken solely to prepare for your approval the accounts of Whitehall Residencies Limited and state those matters that we have agreed to state to the Board of Directors of Whitehall Residencies Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Whitehall Residencies Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Whitehall Residencies Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Whitehall Residencies Limited. You consider that Whitehall Residencies Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Whitehall Residencies Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Kishens Limited
Chartered Accountants
13 Montpelier Avenue
Bexley
Kent
DA5 3AP

2 November 2023

 

Whitehall Residencies Limited

Abridged Profit and Loss Account for the Year Ended 28 February 2023

Note

2023
£

2022
£

Gross profit

 

405,092

-

Administrative expenses

 

(2,765)

(1,202)

Profit/(loss) before tax

402,327

(1,202)

Tax on profit/(loss)

 

(75,663)

-

Profit/(loss) for the financial year

 

326,664

(1,202)

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Whitehall Residencies Limited

Statement of Comprehensive Income for the Year Ended 28 February 2023

2023
£

2022
£

Profit/(loss) for the year

326,664

(1,202)

Total comprehensive income for the year

326,664

(1,202)

 

Whitehall Residencies Limited

(Registration number: 11331520)
Abridged Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Current assets

 

Stocks

4

1,133,306

891,401

Debtors

5

84,000

-

Cash at bank and in hand

 

8,914

563

 

1,226,220

891,964

Creditors: Amounts falling due within one year

(902,157)

(895,245)

Total assets less current liabilities

 

324,063

(3,281)

Accruals and deferred income

 

(1,500)

(820)

Net assets/(liabilities)

 

322,563

(4,101)

Capital and reserves

 

Called up share capital

6

1

1

Retained earnings

322,562

(4,102)

Shareholders' funds/(deficit)

 

322,563

(4,101)

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 2 November 2023 and signed on its behalf by:
 

.........................................
J Mann
Director

 

Whitehall Residencies Limited

Statement of Changes in Equity for the Year Ended 28 February 2023

Share capital
£

Retained earnings
£

Total
£

At 1 March 2022

1

(4,102)

(4,101)

Profit for the year

-

326,664

326,664

At 28 February 2023

1

322,562

322,563

Share capital
£

Retained earnings
£

Total
£

At 1 May 2021

1

(2,900)

(2,899)

Loss for the year

-

(1,202)

(1,202)

At 28 February 2022

1

(4,102)

(4,101)

 

Whitehall Residencies Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Office 1
89
Sidcup High Street
Sidcup
DA14 6DW
England

These financial statements were authorised for issue by the Board on 2 November 2023.

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 abridged 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 abridged 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.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods or on completion of the designated services;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Whitehall Residencies Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 February 2023

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

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.

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.

Stocks

Stock and work in progress represents properties held for resale which are valued at the lower of cost and net realisable value. Cost is determined on property at cost plus expenses in acquiring the asset and bringing it to its present condition. Net realisable value is estimated selling price less costs to complete the sale. Provisions are made against slow moving and or dilapidated stock where net realisable value is less than cost.

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.

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 directors) during the year, was 4 (2022 - 4).

 

Whitehall Residencies Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 February 2023

4

Stocks

2023
£

2022
£

Work in progress

1,133,306

891,401

5

Debtors

Debtors includes £Nil (2022 - £Nil) due after more than one year.

6

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £0.01 each

100

1

100

1

         

7

Related party transactions

 

Whitehall Residencies Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 February 2023

Transactions with directors

 

Whitehall Residencies Limited

Notes to the Unaudited Abridged Financial Statements for the Year Ended 28 February 2023

8

Parent and ultimate parent undertaking

The ultimate controlling party is the directors.