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Registered number: 05583057
WHO ONE LIMITED
Unaudited Financial Statements
For The Year Ended 31 March 2024
Whitefield Tax Limited
Chartered Certified Accountants and Registered Auditor
Arnold House
2 New Road
Brading
Isle Of Wight
PO36 0DT
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 05583057
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 5 103,643 107,601
103,643 107,601
CURRENT ASSETS
Stocks 6 33,306 40,303
Debtors 7 3,090 2,899
Cash at bank and in hand 30,877 35,378
67,273 78,580
Creditors: Amounts Falling Due Within One Year 8 (2,245 ) (3,136 )
NET CURRENT ASSETS (LIABILITIES) 65,028 75,444
TOTAL ASSETS LESS CURRENT LIABILITIES 168,671 183,045
Creditors: Amounts Falling Due After More Than One Year 9 (155,000 ) (175,000 )
NET ASSETS 13,671 8,045
CAPITAL AND RESERVES
Called up share capital 10 5,000 5,000
Profit and Loss Account 8,671 3,045
SHAREHOLDERS' FUNDS 13,671 8,045
Page 1
Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Nicholas Clement
Director
5 September 2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
WHO ONE LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 05583057 . The registered office is 8 Lamorbey Road, Sandown, PO36 9NQ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of .... years.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 0%
Motor Vehicles 20% Reducing Balance
Fixtures & Fittings 20% Straight Line
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 1 1
1 1
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4. Intangible Assets
Goodwill
£
Cost
As at 1 April 2023 15,000
As at 31 March 2024 15,000
Amortisation
As at 1 April 2023 15,000
As at 31 March 2024 15,000
Net Book Value
As at 31 March 2024 -
As at 1 April 2023 -
5. Tangible Assets
Land & Property
Leasehold Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 April 2023 90,000 26,000 12,126 128,126
As at 31 March 2024 90,000 26,000 12,126 128,126
Depreciation
As at 1 April 2023 - 9,360 11,165 20,525
Provided during the period - 3,328 630 3,958
As at 31 March 2024 - 12,688 11,795 24,483
Net Book Value
As at 31 March 2024 90,000 13,312 331 103,643
As at 1 April 2023 90,000 16,640 961 107,601
6. Stocks
2024 2023
£ £
Finished goods 33,306 40,303
7. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 3,090 2,899
8. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Accruals 2,245 3,136
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9. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other creditors > 1 year 40,000 50,000
Directors loan account 115,000 125,000
155,000 175,000
10. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 5,000 5,000
Page 5