2022-07-012023-06-302023-06-30false12458583White Lodge Holdings Filey 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White Lodge Holdings Filey Ltd

Registered Number
12458583
(England and Wales)

Unaudited Financial Statements for the Year ended
30 June 2023

White Lodge Holdings Filey Ltd
Company Information
for the year from 1 July 2022 to 30 June 2023

Director

W I H Rusling

Registered Address

91 - 97 Saltergate
Chesterfield
S40 1LA

Registered Number

12458583 (England and Wales)
White Lodge Holdings Filey Ltd
Statement of Financial Position
30 June 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Investments63,113,8853,113,885
3,113,8853,113,885
Current assets
Debtors13,275-
Cash at bank and on hand1491,530
13,4241,530
Creditors amounts falling due within one year(1,026,796)(1,007,282)
Net current assets (liabilities)(1,013,372)(1,005,752)
Total assets less current liabilities2,100,5132,108,133
Creditors amounts falling due after one year(400,000)(450,000)
Provisions for liabilities(188,195)(194,202)
Net assets1,512,3181,463,931
Capital and reserves
Called up share capital11
Profit and loss account1,512,3171,463,930
Shareholders' funds1,512,3181,463,931
The financial statements were approved and authorised for issue by the Director on 4 December 2023, and are signed on its behalf by:
W I H Rusling
Director
Registered Company No. 12458583
White Lodge Holdings Filey Ltd
Notes to the Financial Statements
for the year ended 30 June 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Basis of measurement used in financial statements
The accounts have been prepared under the historical cost convention as modified by the revaluation of investment properties measured at fair value through profit & loss 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).
4.Accounting policies
Functional and presentation currency policy
The financial statements are presented in sterling and this is the functional currency of the company.
Revenue recognition policy
The revenue shown in the income statement represents rents due under operating leases.
Deferred tax policy
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.
Investments policy
Investment property is carried at fair value determined annually. No depreciation is provided. Changes in fair value are recognised in the income statement for the period.
Valuation of financial instruments policy
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the income statement in other administrative expenses.
5.Employee information

20232022
Average number of employees during the year11
6.Fixed asset investments
The properties were valued during the year by the director, who has good local knowledge of property prices, based upon the original purchase price and previous valuations.

Total

£
Cost or valuation
At 01 July 223,113,885
Additions12,500
Revaluations(12,500)
At 30 June 233,113,885
Net book value
At 30 June 233,113,885
At 30 June 223,113,885
7.Description of nature of transactions and balances with related parties
During the period the company received short and long term loans from related parties. The balances outstanding due to related parties at 30 June 2023 are as follows: Amounts due to group undertakings £1,025,597 (2022: £700,597)
8.Directors advances, credits and guarantees
During the year the company made an interest-free loan to the director of £13,275. The director, Mr W Rusling, has given a personal guarantee to the provider of the loan shown within creditors over one year to cover all repayments in the event that the company was unable to do so.
9.Further information regarding the company's financial position
Both previous UK GAAP and FRS 102 require investment properties to be stated in the accounts at their current market value, with no annual depreciation charge. However, while previous UK GAAP stipulated that the surplus on revaluation of the property should be held in the revaluation reserve, which is an unrealised surplus that does not form part of the company's distributable reserve. FRS 102 requires that these surpluses, although still not distributable, be charged through the Profit and Loss Account. Consequently, the Profit and Loss Account reserve at 30 June 2023 includes a non-distributable amount of £1,464,231 (2022: £1,476,731).