Company registration number 00933961 (England and Wales)
P W WHITE AND PARTNERS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
PAGES FOR FILING WITH REGISTRAR
P W WHITE AND PARTNERS LIMITED
COMPANY INFORMATION
Directors
N K Webb
P M White
P W White
Secretary
P M White
Company number
00933961
Registered office
Suite 1 Sycamore House
1 Woodside Road
Amersham
Buckinghamshire
HP6 6AA
Accountants
Myers Clark
Egale 1
80 St Albans Road
Watford
Hertfordshire
WD17 1DL
Business address
Suite 1 Sycamore House
1 Woodside Road
Amersham
Buckinghamshire
HP6 6AA
P W WHITE AND PARTNERS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
P W WHITE AND PARTNERS LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2023
30 November 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Investments
3
3,486
3,546
Current assets
Debtors
4
102,302
132,973
Cash at bank and in hand
120,481
151,350
222,783
284,323
Creditors: amounts falling due within one year
5
(102,321)
(138,188)
Net current assets
120,462
146,135
Net assets
123,948
149,681
Capital and reserves
Called up share capital
6
15,000
15,000
Profit and loss reserves
108,948
134,681
Total equity
123,948
149,681

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 14 February 2024 and are signed on its behalf by:
N K Webb
P W White
Director
Director
Company registration number 00933961 (England and Wales)
P W WHITE AND PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 2 -
1
Accounting policies
Company information

P W White and Partners Limited is a private company limited by shares incorporated in England and Wales. The registered office is Suite 1 Sycamore House, 1 Woodside Road, Amersham, Buckinghamshire, HP6 6AA.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for general and life commission earned for policies incepted during the year, provided in the normal course of business. Unearned commission, relating to policies where the period of risk is after the balance sheet date, is not recognised as part of turnover.

1.3
Cash at bank and in hand

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.4
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.5
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

P W WHITE AND PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

1.8
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.9
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
10
10
3
Fixed asset investments
2023
2022
£
£
Other investments other than loans
3,486
3,546
P W WHITE AND PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
3
Fixed asset investments
(Continued)
- 4 -
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 December 2022
3,546
Valuation changes
(60)
At 30 November 2023
3,486
Carrying amount
At 30 November 2023
3,486
At 30 November 2022
3,546
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
70,974
91,541
Other debtors
31,328
41,432
102,302
132,973
5
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
44,997
68,201
Corporation tax
41,594
39,535
Other taxation and social security
5,715
10,478
Other creditors
10,015
19,974
102,321
138,188
6
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
15,000
15,000
15,000
15,000
7
Financial commitments, guarantees and contingent liabilities
A small amount of the commission received during the year and included in turnover is on an indemnity basis. The Directors estimate that although the total commission included on this basis at the year end is material, the expected amount repayable is immaterial and has therefore not been provided for. The majority of commission is on a level basis with no potential claw back.
P W WHITE AND PARTNERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2023
- 5 -
8
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
78,764
102,999
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