IRIS Accounts Production v24.2.0.383 NI010537 Board of Directors 1.2.23 31.1.24 31.1.24 false true false false true false Ordinary 2.00000 121694 112881 16813 8813 138507 121694 Ordinary 2.00000 121694 112881 16813 8813 138507 121694 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWhNI0105372023-01-31NI0105372024-01-31NI0105372023-02-012024-01-31NI0105372022-01-31NI0105372022-02-012023-01-31NI0105372023-01-31NI010537ns15:NorthernIreland2023-02-012024-01-31NI010537ns14:PoundSterling2023-02-012024-01-31NI010537ns10:Director12023-02-012024-01-31NI010537ns10:PrivateLimitedCompanyLtd2023-02-012024-01-31NI010537ns10:SmallEntities2023-02-012024-01-31NI010537ns10:AuditExempt-NoAccountantsReport2023-02-012024-01-31NI010537ns10:SmallCompaniesRegimeForDirectorsReport2023-02-012024-01-31NI010537ns10:SmallCompaniesRegimeForAccounts2023-02-012024-01-31NI010537ns10:FullAccounts2023-02-012024-01-31NI010537ns10:OrdinaryShareClass12023-02-012024-01-31NI010537ns10:Director1412023-01-31NI010537ns10:Director1412022-01-31NI010537ns10:Director1412023-02-012024-01-31NI010537ns10:Director1412022-02-012023-01-31NI010537ns10:Director1412024-01-31NI010537ns10:Director1412023-01-31NI010537ns10:Director22023-02-012024-01-31NI010537ns10:CompanySecretary12023-02-012024-01-31NI010537ns10:RegisteredOffice2023-02-012024-01-31NI010537ns5:CurrentFinancialInstruments2024-01-31NI010537ns5:CurrentFinancialInstruments2023-01-31NI010537ns5:ShareCapital2024-01-31NI010537ns5:ShareCapital2023-01-31NI010537ns5:RetainedEarningsAccumulatedLosses2024-01-31NI010537ns5:RetainedEarningsAccumulatedLosses2023-01-31NI01053712023-02-012024-01-31NI010537ns5:PlantMachinery2023-02-012024-01-31NI010537ns5:PlantMachinery2023-01-31NI010537ns5:PlantMachinery2024-01-31NI010537ns5:PlantMachinery2023-01-31NI010537ns10:OrdinaryShareClass12024-01-31NI010537ns10:Director222023-01-31NI010537ns10:Director222022-01-31NI010537ns10:Director222023-02-012024-01-31NI010537ns10:Director222022-02-012023-01-31NI010537ns10:Director222024-01-31NI010537ns10:Director222023-01-31
REGISTERED NUMBER: NI010537 (Northern Ireland)













Whitsitt Development Company Limited

Unaudited Financial Statements

for the Year Ended 31 January 2024






Whitsitt Development Company Limited (Registered number: NI010537)

Contents of the Financial Statements
for the Year Ended 31 January 2024










Page

Company information 1

Statement of financial position 2

Notes to the financial statements 3 to 5


Whitsitt Development Company Limited

Company Information
for the Year Ended 31 January 2024







Directors: Miss M L Eagleson
Mr D B Eagleson





Secretary: Mr D B Eagleson





Registered office: 63 Madden Road
Armagh
Co Armagh
BT60 3LJ





Registered number: NI010537 (Northern Ireland)





Accountants: Wylie Ruddell
Chartered Accountants
Armagh Business Centre
2 Loughgall Road
Armagh
BT61 7NH

Whitsitt Development Company Limited (Registered number: NI010537)

Statement of Financial Position
31 January 2024

2024 2023
Notes £ £
Fixed assets
Tangible assets 4 42 52

Current assets
Inventory 5 139,183 124,438
Prepayments and accrued income 1,699 1,687
Cash at bank 6 1,053 742
141,935 126,867
Payables
Amounts falling due within one year 7 (139,789 ) (122,924 )
Net current assets 2,146 3,943
Total assets less current liabilities 2,188 3,995

Capital and reserves
Called up share capital 8 2 2
Retained earnings 2,186 3,993
Shareholders' funds 2,188 3,995

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 October 2024 and were signed on its behalf by:





Mr D B Eagleson - Director


Whitsitt Development Company Limited (Registered number: NI010537)

Notes to the Financial Statements
for the Year Ended 31 January 2024


1. Statutory information

Whitsitt Development Company Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Critical accounting judgements and key sources of estimation uncertainty
In the director's opinion there are no accounting policies which require estimations or uncertainties included within the financial statements.

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 - 20% on reducing balance

Inventory
Work in progress is valued at the lower of cost and net realisable value,

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Payables
Short term payables 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.

Whitsitt Development Company Limited (Registered number: NI010537)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


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 February 2023
and 31 January 2024 4,593
Depreciation
At 1 February 2023 4,541
Charge for year 10
At 31 January 2024 4,551
Net book value
At 31 January 2024 42
At 31 January 2023 52

5. Inventory
2024 2023
£ £
Work-in-progress 139,183 124,438

6. Cash at bank
2024 2023
£ £
Bank deposit account 1,053 742

7. Payables less than one year
2024 2023
£ £
Other payables 139,789 122,924

8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
2 Ordinary 2 2 2

Whitsitt Development Company Limited (Registered number: NI010537)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024


9. Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 31 January 2024 and 31 January 2023:

2024 2023
£ £
Miss M L Eagleson and Mr D B Eagleson
Balance outstanding at start of year 121,694 112,881
Amounts advanced 16,813 8,813
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 138,507 121,694