Registered number
00425605
Whitings (Drapers) Limited
Filleted Accounts
31 January 2024
Whitings (Drapers) Limited
Registered number: 00425605
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Investments 3 352,419 397,108
Current assets
Debtors 4 4,109 -
Cash at bank and in hand 5 36,046 61,178
40,155 61,178
Creditors: amounts falling due within one year 6 (3,357) (3,144)
Net current assets 36,798 58,034
Net assets 389,217 455,142
Capital and reserves
Called up share capital 4,000 4,000
General reserve 7 412,092 412,092
Profit and loss account (26,875) 39,050
Shareholders' funds 389,217 455,142
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.
C A Whiting
Director
Approved by the board on 10 April 2024
Whitings (Drapers) Limited
Notes to the Accounts
for the year ended 31 January 2024
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.
Investments
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Investments
Other
investments
£
Valuation
At 1 February 2023 397,108
Additions 49,992
Revaluation (50,531)
Disposals (44,150)
At 31 January 2024 352,419
Historical Cost
At 1 February 2023 397,108
At 31 January 2024 402,950
4 Debtors 2024 2023
£ £
Other debtors 4,109 -
5 Cash at bank and in hand 2024 2023
£ £
Cash at bank 10,747 2,725
Investment capital account 25,299 58,453
36,046 61,178
6 Creditors: amounts falling due within one year 2024 2023
£ £
Other creditors 3,357 3,144
7 General reserve 2024 2023
£ £
At 1 February 2023 412,092 412,092
At 31 January 2024 412,092 412,092
8 Related party transactions
There were no material related party transactions during the year.
9 Controlling party
The person with significant control is Mr C Whiting who holds 50.1% of the issued share capital.
10 Other information
Whitings (Drapers) Limited is a private company limited by shares and incorporated in England. Its registered office is:
83 Elsenham Street
London
SW18 5NX
Whitings (Drapers) Limited 00425605 false 2023-02-01 2024-01-31 2024-01-31 VT Final Accounts October 2023 release 2 C A Whiting No description of principal activity 00425605 2022-02-01 2023-01-31 00425605 core:WithinOneYear 2023-01-31 00425605 core:ShareCapital 2023-01-31 00425605 core:OtherReservesSubtotal 2023-01-31 00425605 core:RetainedEarningsAccumulatedLosses 2023-01-31 00425605 core:RevaluationReserve 2022-01-31 00425605 2023-02-01 2024-01-31 00425605 bus:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 00425605 bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 00425605 bus:Director40 2023-02-01 2024-01-31 00425605 1 2023-02-01 2024-01-31 00425605 2 2023-02-01 2024-01-31 00425605 countries:England 2023-02-01 2024-01-31 00425605 bus:FRS102 2023-02-01 2024-01-31 00425605 bus:FullAccounts 2023-02-01 2024-01-31 00425605 2024-01-31 00425605 core:WithinOneYear 2024-01-31 00425605 core:ShareCapital 2024-01-31 00425605 core:OtherReservesSubtotal 2024-01-31 00425605 core:RetainedEarningsAccumulatedLosses 2024-01-31 00425605 core:AdditionsToInvestments 2024-01-31 00425605 core:RevaluationsIncreaseDecreaseInInvestments 2024-01-31 00425605 core:DisposalsRepaymentsInvestments 2024-01-31 00425605 core:RevaluationReserve 2024-01-31 00425605 2023-01-31 00425605 core:RevaluationReserve 2023-01-31 iso4217:GBP xbrli:pure