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REGISTERED NUMBER: 12942151 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2023

for

Whitstable Investment Company Limited

Whitstable Investment Company Limited (Registered number: 12942151)






Contents of the Financial Statements
for the Year Ended 31 October 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Whitstable Investment Company Limited

Company Information
for the Year Ended 31 October 2023







DIRECTORS: C Crockford
Ms M Elliott





REGISTERED OFFICE: Saphir House
Jubilee Way
Faversham
Kent
ME13 8GD





REGISTERED NUMBER: 12942151 (England and Wales)





ACCOUNTANTS: Blackwood Futcher & Co.
Chartered Accountants
9 St George's Yard
Farnham
Surrey
GU9 7LW

Whitstable Investment Company Limited (Registered number: 12942151)

Balance Sheet
31 October 2023

31.10.23 31.10.22
Notes £    £    £    £   
FIXED ASSETS
Investments 4 2 2
Investment property 5 823,659 207,492
823,661 207,494

CURRENT ASSETS
Debtors 6 8,344 1,045
Cash at bank 31,091 62,170
39,435 63,215
CREDITORS
Amounts falling due within one year 7 5,544 2,534
NET CURRENT ASSETS 33,891 60,681
TOTAL ASSETS LESS CURRENT
LIABILITIES

857,552

268,175

CREDITORS
Amounts falling due after more than one
year

8

(615,899

)

(151,550

)

PROVISIONS FOR LIABILITIES - (1,109 )
NET ASSETS 241,653 115,516

CAPITAL AND RESERVES
Called up share capital 100 100
Other reserves (52,183 ) 7,623
Retained earnings 293,736 107,793
241,653 115,516

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Whitstable Investment Company Limited (Registered number: 12942151)

Balance Sheet - continued
31 October 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 July 2024 and were signed on its behalf by:




C Crockford - Director



Ms M Elliott - Director


Whitstable Investment Company Limited (Registered number: 12942151)

Notes to the Financial Statements
for the Year Ended 31 October 2023

1. STATUTORY INFORMATION

Whitstable Investment Company Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 November 2022
and 31 October 2023 2
NET BOOK VALUE
At 31 October 2023 2
At 31 October 2022 2

Whitstable Investment Company Limited (Registered number: 12942151)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 November 2022 207,492
Additions 677,761
Revaluations (61,594 )
At 31 October 2023 823,659
NET BOOK VALUE
At 31 October 2023 823,659
At 31 October 2022 207,492

Fair value at 31 October 2023 is represented by:
£   
Valuation in 2022 9,411
Valuation in 2023 (61,594 )
Cost 875,842
823,659

The investment properties were valued on an open market basis on 31 October 2023 by the directors. .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Other debtors 8,344 1,045

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.23 31.10.22
£    £   
Trade creditors 35 -
Other creditors 5,509 2,534
5,544 2,534

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.10.23 31.10.22
£    £   
Bank loans 615,899 151,550

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 615,899 151,550

9. SECURED DEBTS

The following secured debts are included within creditors:

31.10.23 31.10.22
£    £   
Bank loans 615,899 151,550

The bank loans are secured against the Investment properties held by the company. The directors have also made personal guarantees on Paragon loan.