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Registration number: 12609205

WH23 Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

WH23 Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

WH23 Limited

Company Information

Director

Mr TJ Lander

Registered office

White House
Sparsholt
Winchester
Hampshire
SO21 2NJ

Accountants

Brookes Sivyer
Chartered Accountants
PO Box 533
Newquay
Cornwall
TR7 9DJ

 

WH23 Limited

(Registration number: 12609205)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

4

491,593

419,342

Current assets

 

Debtors

5

31,659

5,918

Cash at bank and in hand

 

27,261

49,425

 

58,920

55,343

Creditors: Amounts falling due within one year

6

(189,667)

(222,550)

Net current liabilities

 

(130,747)

(167,207)

Total assets less current liabilities

 

360,846

252,135

Provisions for liabilities

(8,111)

(9,971)

Net assets

 

352,735

242,164

Capital and reserves

 

Called up share capital

7

2

2

Retained earnings

352,733

242,162

Shareholders' funds

 

352,735

242,164

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 11 October 2024
 

 

WH23 Limited

(Registration number: 12609205)
Balance Sheet as at 31 March 2024

.........................................
Mr TJ Lander
Director

 

WH23 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
White House
Sparsholt
Winchester
Hampshire
SO21 2NJ
England

These financial statements were authorised for issue by the director on 11 October 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

WH23 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

WH23 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

WH23 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Investments

2024
£

2023
£

Investments in limited partnerships and companies

491,593

419,342

Limited Partnerships and Companies

£

Cost

At 1 April 2023

419,342

Revaluation

(33,757)

Additions

156,866

Disposals

(50,858)

At 31 March 2024

491,593

Provision

Carrying amount

At 31 March 2024

491,593

At 31 March 2023

419,342

 

WH23 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

5

Debtors

Current

Note

2024
£

2023
£

Amounts owed by related parties

9

27,717

5,918

Other debtors

 

3,942

-

   

31,659

5,918

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

158,752

216,582

Amounts owed to group undertakings and undertakings in which the company has a participating interest

9

915

150

Taxation and social security

 

-

5,818

Other creditors

 

30,000

-

 

189,667

222,550

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary of £1 each

2

2

2

2

       

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Other borrowings

158,752

216,582

 

WH23 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

9

Related party transactions

Loans to related parties

2024

Associates
£

Total
£

At start of period

5,918

5,918

Advanced

27,717

27,717

Repaid

(5,918)

(5,918)

At end of period

27,717

27,717

2023

Associates
£

Total
£

At start of period

12,408

12,408

Advanced

5,918

5,918

Repaid

(12,408)

(12,408)

At end of period

5,918

5,918

Terms of loans to related parties

The loan represents the final dividend declared and paid but the transfer not made until after the year end.
 

Loans from related parties

2024

Associates
£

Total
£

At start of period

150

150

Advanced

3,500

3,500

Repaid

(2,735)

(2,735)

At end of period

915

915

2023

Associates
£

Total
£

Advanced

150

150

At end of period

150

150

Terms of loans from related parties

The loan represents the monies owed to associated companies.
 

 

WH23 Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

10

Financial instruments

Categorisation of financial instruments

2024
 £

2023
 £

Financial assets measured at fair value through profit or loss

(33,757)

62,777

Financial assets measured at fair value

Investments
The Company has interests in various Limited Partnerships and Limited Companies, and these are valued by the fund managers on a regular basis.

The fair value is £491,594 (2023 - £419,342) and the change in value included in profit or loss is £(33,757) (2023 - £62,777).