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REGISTERED NUMBER: 00308590 (England and Wales)












Whitecliffs,Limited

Unaudited Financial Statements

for the Year Ended 31 October 2023






Whitecliffs,Limited (Registered number: 00308590)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Whitecliffs,Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: Mrs P L Govier
T Webster





REGISTERED OFFICE: Hill House
Pattishall
Towcester
Northamptonshire
NN12 8JU





REGISTERED NUMBER: 00308590 (England and Wales)





ACCOUNTANTS: Kilby Fox
Chartered Accountants
4 Pavilion Court
600 Pavilion Drive
Northampton Business Park
Northampton
Northamptonshire
NN4 7SL

Whitecliffs,Limited (Registered number: 00308590)

Balance Sheet
31 October 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 5,416,276 5,416,276

CURRENT ASSETS
Debtors 5 20,449 20,757
Cash at bank 154,475 191,098
174,924 211,855
CREDITORS
Amounts falling due within one year 6 977,843 977,522
NET CURRENT LIABILITIES (802,919 ) (765,667 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,613,357

4,650,609

CREDITORS
Amounts falling due after more than one
year

7

(534,136

)

(632,384

)

PROVISIONS FOR LIABILITIES - (89 )
NET ASSETS 4,079,221 4,018,136

CAPITAL AND RESERVES
Called up share capital 2,500 2,500
Retained earnings 4,076,721 4,015,636
SHAREHOLDERS' FUNDS 4,079,221 4,018,136

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

Whitecliffs,Limited (Registered number: 00308590)

Balance Sheet - continued
31 October 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 Board of Directors and authorised for issue on 19 February 2024 and were signed on its behalf by:




Mrs P L Govier - Director



T Webster - Director


Whitecliffs,Limited (Registered number: 00308590)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Whitecliffs,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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover represents net invoiced rent received in respect of investment property held by the company.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Whitecliffs,Limited (Registered number: 00308590)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022
and 31 October 2023 5,416,276
NET BOOK VALUE
At 31 October 2023 5,416,276
At 31 October 2022 5,416,276

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 5,648
Other debtors 700 700
Prepayments and accrued income 19,749 14,409
20,449 20,757

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 100,000 100,000
Trade creditors 6,287 1,075
Corporation tax 5,971 10,014
VAT 9,910 4,871
Loan C H Webster 249,916 349,916
Loan Pattishall Properties Ltd 422,968 307,890
Directors' current accounts 5,039 4,142
Accruals and deferred income 177,752 199,614
977,843 977,522

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 1 - 2 years 100,000 100,000
Bank loans 2 - 5 years 271,833 281,833
Bank loans more than 5 years 162,303 250,551
534,136 632,384

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years 162,303 250,551

Whitecliffs,Limited (Registered number: 00308590)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

8. ULTIMATE CONTROLLING PARTY

The controlling parties are the directors, Mrs P L Govier and Mr T Webster and trustee, Miss N Maher. These individuals are trustees of both the Colin Webster 2004 Settlement and the Colin Webster Accumulation and Maintenance Settlement Trust, which together hold all of the shares in the company.