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Registration number: 04841384

Whitefriars Properties Limited

Annual Report and Unaudited Financial Statements Year Ended 31 July 2023

image-name

Chartered Accountants

 

Whitefriars Properties Limited

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Profit and Loss Account

4

Balance Sheet

5

Statement of Changes in Equity

6

Notes to the Unaudited Financial Statements

7 to 9

 

Whitefriars Properties Limited

Company Information

Directors

Ms D Howell

B Howell

Ms M M Meadway

Mrs L J Franzen

Company secretary

Templehill Property Management Limited

Registered office

49 High West Street
Dorchester
Dorset
DT1 1UT

Accountants

Edwards & Keeping
Chartered Accountants
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

 

Whitefriars Properties Limited

Directors' Report
for the Year Ended 31 July 2023

The directors present their report and the financial statements for the year ended 31 July 2023.

Directors of the company

The directors who held office during the year were as follows:

Ms D Howell

B Howell

Ms M M Meadway

Mrs L J Franzen

Principal activity

The principal activity of the company continued to be that of the provision of management and administrative services for the tenants and residents of flats situated at Whitefriars, Copyhold Lane, Winterbourne Abbas, Dorchester, Dorset. The company holds the freehold reversion of Whitefriars subject to 80 year leases on the 6 leasehold properties.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved by the Board on 22 April 2024 and signed on its behalf by:




Templehill Property Management Limited
Company secretary

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Whitefriars Properties Limited
for the Year Ended 31 July 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Whitefriars Properties Limited for the year ended 31 July 2023 as set out on pages 4 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Whitefriars Properties Limited, as a body, in accordance with the terms of our engagement letter dated 28 October 2019. Our work has been undertaken solely to prepare for your approval the accounts of Whitefriars Properties Limited and state those matters that we have agreed to state to the Board of Directors of Whitefriars Properties Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Whitefriars Properties Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Whitefriars Properties Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Whitefriars Properties Limited. You consider that Whitefriars Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Whitefriars Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.






Edwards & Keeping
Chartered Accountants
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

23 April 2024

 

Whitefriars Properties Limited

Profit and Loss Account
for the Year Ended 31 July 2023

Note

2023
£

2022
£

Turnover

 

9,291

9,345

Gross profit

 

9,291

9,345

Administrative expenses

 

(15,582)

(5,510)

Operating (loss)/profit

 

(6,291)

3,835

(Loss)/profit before tax

(6,291)

3,835

(Loss)/profit for the financial year

 

(6,291)

3,835

The above results were derived from continuing operations.

The company has no recognised gains or losses for the year other than the results above.

 

Whitefriars Properties Limited

(Registration number: 04841384)
Balance Sheet as at 31 July 2023

Note

2023

2022

   

£

£

£

£

Fixed assets

   

 

Tangible assets

4

 

1,469

 

1,469

Current assets

   

 

Debtors

5

3,014

 

2,157

 

Cash at bank and in hand

 

373

 

7,287

 

 

3,387

 

9,444

 

Creditors: Amounts falling due within one year

6

(1,202)

 

(968)

 

Net current assets

   

2,185

 

8,476

Net assets

   

3,654

 

9,945

Capital and reserves

   

 

Called up share capital

100

 

100

 

Depreciation fund

2,085

 

8,376

 

Freehold reversion reserve

1,469

 

1,469

 

   

3,654

 

9,945

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

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 22 April 2024 and signed on its behalf by:
 

Ms D Howell
Director

   
     

 

Whitefriars Properties Limited

Statement of Changes in Equity
for the Year Ended 31 July 2023

Share capital
£

Depreciation fund
£

Freehold reversion reserve
£

Profit and loss account
£

Total
£

At 1 August 2022

100

8,376

1,469

-

9,945

Deficit for the year

-

-

-

(6,291)

(6,291)

Total comprehensive income

-

-

-

(6,291)

(6,291)

Transfers

-

(6,291)

-

6,291

-

At 31 July 2023

100

2,085

1,469

-

3,654

Share capital
£

Depreciation fund
£

Freehold reversion reserve
£

Profit and loss account
£

Total
£

At 1 August 2021

100

4,541

1,469

-

6,110

Surplus for the year

-

-

-

3,835

3,835

Total comprehensive income

-

-

-

3,835

3,835

Transfers

-

3,835

-

(3,835)

-

At 31 July 2022

100

8,376

1,469

-

9,945

 

Whitefriars Properties Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 July 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
49 High West Street
Dorchester
Dorset
DT1 1UT
England

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities.

The Company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the Company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

No depreciation is provided in respect of the freehold interest in the 6 flats situated at Whitefriars, Copyhold Lane, Winterbourne Abbas, Dorchester, Dorset as its residual value will be at least equal to its cost.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Whitefriars Properties Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 July 2023

Trade debtors

Trade debtors are amounts due from residents for services performed in the ordinary course of business.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company during the year, was 0 (2022 - 0). The average number of directors on the board during the year was 4 (2022 - 4).

 

Whitefriars Properties Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 July 2023

4

Tangible assets

Land and buildings
£

Total
£

Cost

At 1 August 2022

1,469

1,469

At 31 July 2023

1,469

1,469

Depreciation

At 1 August 2022

-

-

At 31 July 2023

-

-

Carrying amount

At 31 July 2023

1,469

1,469

At 31 July 2022

1,469

1,469

5

Debtors

2023
£

2022
£

Amounts due from lessees

2,762

1,936

Prepayments

252

221

3,014

2,157

6

Creditors

2023
£

2022
£

Due within one year

Amounts recieved in advance from lessees

378

197

Accruals and other creditors

824

771

1,202

968