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REGISTERED NUMBER: 10459100 (England and Wales)









WHITESAND PROPERTY LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024






WHITESAND PROPERTY LIMITED (REGISTERED NUMBER: 10459100)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WHITESAND PROPERTY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: Mrs C A Hedgecox
Mr M W Hedgecox





REGISTERED OFFICE: Station House
North Street
Havant
Hants
PO9 1QU





REGISTERED NUMBER: 10459100 (England and Wales)





ACCOUNTANTS: Morris Crocker
Chartered Accountants
Station House
North Street
Havant
Hampshire
PO9 1QU

WHITESAND PROPERTY LIMITED (REGISTERED NUMBER: 10459100)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,713 8,663
Investment property 5 1,019,710 1,008,160
1,030,423 1,016,823

CURRENT ASSETS
Cash at bank 9,978 16,880

CREDITORS
Amounts falling due within one year 6 346,998 351,499
NET CURRENT LIABILITIES (337,020 ) (334,619 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

693,403

682,204

CREDITORS
Amounts falling due after more than one
year

7

755,831

732,031
NET LIABILITIES (62,428 ) (49,827 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (62,528 ) (49,927 )
(62,428 ) (49,827 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

WHITESAND PROPERTY LIMITED (REGISTERED NUMBER: 10459100)

BALANCE SHEET - continued
29 FEBRUARY 2024


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 20 August 2024 and were signed on its behalf by:





Mr M W Hedgecox - Director


WHITESAND PROPERTY LIMITED (REGISTERED NUMBER: 10459100)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Whitesand Property 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.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties and investments in non-puttable ordinary shares.

Trade and other debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, deposits with banks and other short-term highly liquid investments and bank overdrafts. In the balance sheet, bank overdrafts are shown within borrowings or current liabilities.

Trade and other creditors
Short term trade creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method

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.

WHITESAND PROPERTY LIMITED (REGISTERED NUMBER: 10459100)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

2. ACCOUNTING POLICIES - continued

Going concern
The company has the continued financial support of its director, who has agreed not to request repayment of the loan until the company has the funds available. On this basis the directors of Whitesand Property Limited consider it appropriate to prepare accounts on the going concern basis. The financial statements do not include any adjustments that would result in the company suffering further trading losses.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023 11,551
Additions 6,584
At 29 February 2024 18,135
DEPRECIATION
At 1 March 2023 2,888
Charge for year 4,534
At 29 February 2024 7,422
NET BOOK VALUE
At 29 February 2024 10,713
At 28 February 2023 8,663

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 1,008,160
Additions 11,550
At 29 February 2024 1,019,710
NET BOOK VALUE
At 29 February 2024 1,019,710
At 28 February 2023 1,008,160

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other creditors 346,998 351,499

WHITESAND PROPERTY LIMITED (REGISTERED NUMBER: 10459100)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 607,202 607,202
Other creditors 148,629 124,829
755,831 732,031

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 607,202 607,202