Registered number
04443296
Whittome Limited
Unaudited Filleted Accounts
31 March 2023
Whittome Limited
Registered number: 04443296
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 3,259,707 3,283,793
Investments 4 18,090,727 17,406,432
21,350,434 20,690,225
Current assets
Debtors 5 14,411,127 11,372,351
Cash at bank and in hand 1,825,718 808,463
16,236,845 12,180,814
Creditors: amounts falling due within one year 6 (3,756,346) (4,043,615)
Net current assets 12,480,499 8,137,199
Total assets less current liabilities 33,830,933 28,827,424
Provisions for liabilities (28,140) (14,202)
Net assets 33,802,793 28,813,222
Capital and reserves
Called up share capital 10,000 10,000
Profit and loss account 33,792,793 28,803,222
Shareholders' funds 33,802,793 28,813,222
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr A A Whittome
Director
Approved by the board on 20 November 2023
Whittome Limited
Notes to the Accounts
for the period from 1 July 2022 to 31 March 2023
1 Accounting policies
Basis of preparation
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).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings 10% reducing balance
Plant and machinery 25% reducing balance
Investment property nil%
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 5 5
3 Tangible fixed assets
Land and buildings Plant and machinery Total
£ £ £
Cost
At 1 July 2022 4,041,615 395,460 4,437,075
Additions - 7,972 7,972
Disposals - (8,627) (8,627)
At 31 March 2023 4,041,615 394,805 4,436,420
Depreciation
At 1 July 2022 809,068 344,214 1,153,282
Charge for the period 19,193 10,697 29,890
On disposals - (6,459) (6,459)
At 31 March 2023 828,261 348,452 1,176,713
Net book value
At 31 March 2023 3,213,354 46,353 3,259,707
At 30 June 2022 3,232,547 51,246 3,283,793
4 Investments
Investments in
subsidiary Other
undertakings investments Total
£ £ £
Cost
At 1 July 2022 100 17,406,332 17,406,432
Additions - 607,047 607,047
Revaluation - 77,348 77,348
Disposals (100) - (100)
At 31 March 2023 - 18,090,727 18,090,727
Historical cost
At 1 July 2022 - 17,400,870
At 31 March 2023 - 18,007,817
5 Debtors 2023 2022
£ £
Trade debtors 13,803 -
Amounts owed by group undertakings and undertakings in which the company has a participating interest 1,341,745 1,275,695
Other debtors 13,055,579 10,096,656
14,411,127 11,372,351
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 19,478 119,329
Taxation and social security costs 689,834 935,956
Other creditors 3,047,034 2,988,330
3,756,346 4,043,615
7 Controlling party
The company is controlled jointly by Mr A A Whittome and Mrs L P Whittome.
8 Other information
Whittome Limited is a private company limited by shares and incorporated in England. Its registered office is:
Lower Wield House
Lower Wield
Alresford
Hampshire
SO26 9RX
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