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Company No: 12270185 (England and Wales)

WHITE SAIL DEVELOPMENTS LIMITED

Unaudited Financial Statements
For the financial year ended 31 October 2023
Pages for filing with the registrar

WHITE SAIL DEVELOPMENTS LIMITED

Unaudited Financial Statements

For the financial year ended 31 October 2023

Contents

WHITE SAIL DEVELOPMENTS LIMITED

COMPANY INFORMATION

For the financial year ended 31 October 2023
WHITE SAIL DEVELOPMENTS LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 31 October 2023
DIRECTOR K Boulton
REGISTERED OFFICE Centenary House Peninsula Park
Rydon Lane
Exeter
EX2 7XE
United Kingdom
COMPANY NUMBER 12270185 (England and Wales)
CHARTERED ACCOUNTANTS Francis Clark LLP
Centenary House
Peninsula Park
Rydon Lane
Exeter
Devon EX2 7XE
WHITE SAIL DEVELOPMENTS LIMITED

BALANCE SHEET

As at 31 October 2023
WHITE SAIL DEVELOPMENTS LIMITED

BALANCE SHEET (continued)

As at 31 October 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 52 78
52 78
Current assets
Stocks 0 459,635
Debtors 4 2,907 3,534
Cash at bank and in hand 335,984 953
338,891 464,122
Creditors: amounts falling due within one year 5 ( 85,320) ( 483,228)
Net current assets/(liabilities) 253,571 (19,106)
Total assets less current liabilities 253,623 (19,028)
Net assets/(liabilities) 253,623 ( 19,028)
Capital and reserves
Called-up share capital 6 100 100
Profit and loss account 253,523 ( 19,128 )
Total shareholder's funds/(deficit) 253,623 ( 19,028)

For the financial year ending 31 October 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of White Sail Developments Limited (registered number: 12270185) were approved and authorised for issue by the Director on 15 March 2024. They were signed on its behalf by:

K Boulton
Director
WHITE SAIL DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2023
WHITE SAIL DEVELOPMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 October 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

White Sail Developments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Centenary House Peninsula Park, Rydon Lane, Exeter, EX2 7XE, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

On 28 February 2023, the company ceased trading. The financial statements have been prepared on a basis other than the going concern basis.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line basis over its expected useful life, as follows:

Computer equipment 5 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any anticipated losses where appropriate. No element of profit is included in the valuation of work in progress.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including the director 1 0

3. Tangible assets

Computer equipment Total
£ £
Cost
At 01 November 2022 130 130
At 31 October 2023 130 130
Accumulated depreciation
At 01 November 2022 52 52
Charge for the financial year 26 26
At 31 October 2023 78 78
Net book value
At 31 October 2023 52 52
At 31 October 2022 78 78

4. Debtors

2023 2022
£ £
Other debtors 2,907 3,534

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 0 1,006
Amounts owed to director 1,076 480,010
Accruals 3,144 2,212
Taxation and social security 81,100 0
85,320 483,228

6. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100