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REGISTERED NUMBER: 03372903 (England and Wales)













W HILES PARTNERSHIP LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH SEPTEMBER 2023






W HILES PARTNERSHIP LIMITED (REGISTERED NUMBER: 03372903)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


W HILES PARTNERSHIP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH SEPTEMBER 2023







DIRECTOR: M J Hiles





SECRETARY: Mrs S Fox





REGISTERED OFFICE: 3 Lyttleton Court
Birmingham Street
Halesowen
West Midlands
B63 3HN





REGISTERED NUMBER: 03372903 (England and Wales)





ACCOUNTANTS: CUTTER & CO LTD
CHARTERED ACCOUNTANTS
3 Lyttleton Court
Birmingham Street
Halesowen
West Midlands
B63 3HN

W HILES PARTNERSHIP LIMITED (REGISTERED NUMBER: 03372903)

BALANCE SHEET
30TH SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 59,110 71,171

CURRENT ASSETS
Stocks 5 108,244 159,087
Debtors 6 86,622 121,938
Cash at bank 428,226 429,168
623,092 710,193
CREDITORS
Amounts falling due within one year 7 87,770 167,717
NET CURRENT ASSETS 535,322 542,476
TOTAL ASSETS LESS CURRENT
LIABILITIES

594,432

613,647

CREDITORS
Amounts falling due after more than one
year

8

(34,598

)

(40,917

)

PROVISIONS FOR LIABILITIES (14,778 ) (13,523 )
NET ASSETS 545,056 559,207

CAPITAL AND RESERVES
Called up share capital 1,332 1,332
Retained earnings 543,724 557,875
SHAREHOLDERS' FUNDS 545,056 559,207

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

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

The director acknowledges his 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.

W HILES PARTNERSHIP LIMITED (REGISTERED NUMBER: 03372903)

BALANCE SHEET - continued
30TH SEPTEMBER 2023


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 director and authorised for issue on 31st January 2024 and were signed by:





M J Hiles - Director


W HILES PARTNERSHIP LIMITED (REGISTERED NUMBER: 03372903)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH SEPTEMBER 2023

1. STATUTORY INFORMATION

W Hiles Partnership Limited is a private company, limited by shares , registered in England and Wales. 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.

Revenue
Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
- the amount of revenue can be measured reliably;
- it is probable that the company will receive consideration due under the contract;
- the stage of completion of the contract at the end of the reporting period can be measured reliably; and
- the costs incurred and the costs to complete the contract can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Equipment - 25% on reducing balance
Fixtures and fittings - 10% on reducing balance
Computer equipment - 15% on reducing balance

Work in progress
When the outcome of a transaction involving the rendering of services can be estimated reliably, revenue is calculated by reference to the stage (or percentage) of completion of the transaction at the end of the reporting period. When the outcome of the transaction involving the rendering of services cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that are recoverable. When it is probable that total contract costs will exceed total contract revenue, the expected loss is recognised as an expense immediately.

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.

W HILES PARTNERSHIP LIMITED (REGISTERED NUMBER: 03372903)

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

2. ACCOUNTING POLICIES - continued

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Operating leasing commitments
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss accounts as incurred.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2022 - 8 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
Equipment fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1st October 2022 36,695 42,956 60,029 121,251 260,931
Additions - - - 3,756 3,756
Disposals (36,045 ) (42,476 ) - (106,463 ) (184,984 )
At 30th September 2023 650 480 60,029 18,544 79,703
DEPRECIATION
At 1st October 2022 36,499 39,493 6,003 107,765 189,760
Charge for year 49 346 5,403 2,586 8,384
Eliminated on disposal (35,927 ) (39,526 ) - (102,098 ) (177,551 )
At 30th September 2023 621 313 11,406 8,253 20,593
NET BOOK VALUE
At 30th September 2023 29 167 48,623 10,291 59,110
At 30th September 2022 196 3,463 54,026 13,486 71,171

W HILES PARTNERSHIP LIMITED (REGISTERED NUMBER: 03372903)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1st October 2022
and 30th September 2023 60,029
DEPRECIATION
At 1st October 2022 6,003
Charge for year 5,403
At 30th September 2023 11,406
NET BOOK VALUE
At 30th September 2023 48,623
At 30th September 2022 54,026

5. STOCKS
2023 2022
£    £   
Work-in-progress 108,244 159,087

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 79,584 114,662
Prepayments 7,038 7,276
86,622 121,938

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 1,396 1,449
Hire purchase contracts 6,319 6,319
Trade creditors 12,635 4,742
Corporation tax 4,003 43,117
Social security and other taxes 8,604 8,148
VAT 40,196 55,177
Other creditors 2,305 1,020
Directors' current accounts 7,432 36,418
Accrued expenses 4,880 11,327
87,770 167,717

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Hire purchase contracts 34,598 40,917

W HILES PARTNERSHIP LIMITED (REGISTERED NUMBER: 03372903)

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

9. OTHER FINANCIAL COMMITMENTS

The total amount of future commitments for rent under operating leases is £3,358 (2022: £3,276) these are due within one year.

10. RELATED PARTY DISCLOSURES

The director has a loan balance in credit totalling £7,432 (2022: £36,418) which has arisen from declared but as yet undrawn dividend amounts and undrawn expenses.

Hiles Consulting Limited
A company in which the directors brother, Mr M A Hiles, is a director and shareholder.

Management charges totalling £81,903 (2022: £72,352) were made by Hiles Consulting Ltd to the company during the period.

Amount due to related party at the balance sheet date was £2,466 (2022: £nil).

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is PMK Consult (International) UK Ltd which is a wholly owned subsidiary of PMK International Holdings Ltd. The registered office of PMK Consult (International) UK Ltd is Michaels House, 10-12 Alie Street, London, England, E1 8DE.

At the year end the ultimate controlling party was the company director Mr M J Hiles.