Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-31false2023-02-013falseNo description of principal activity3truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07140062 2023-02-01 2024-01-31 07140062 2022-02-01 2023-01-31 07140062 2024-01-31 07140062 2023-01-31 07140062 c:Director1 2023-02-01 2024-01-31 07140062 c:Director2 2023-02-01 2024-01-31 07140062 c:RegisteredOffice 2023-02-01 2024-01-31 07140062 d:PlantMachinery 2023-02-01 2024-01-31 07140062 d:PlantMachinery 2024-01-31 07140062 d:PlantMachinery 2023-01-31 07140062 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 07140062 d:MotorVehicles 2023-02-01 2024-01-31 07140062 d:MotorVehicles 2024-01-31 07140062 d:MotorVehicles 2023-01-31 07140062 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 07140062 d:FurnitureFittings 2023-02-01 2024-01-31 07140062 d:FurnitureFittings 2024-01-31 07140062 d:FurnitureFittings 2023-01-31 07140062 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 07140062 d:ComputerEquipment 2023-02-01 2024-01-31 07140062 d:ComputerEquipment 2024-01-31 07140062 d:ComputerEquipment 2023-01-31 07140062 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 07140062 d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 07140062 d:Goodwill 2024-01-31 07140062 d:Goodwill 2023-01-31 07140062 d:CurrentFinancialInstruments 2024-01-31 07140062 d:CurrentFinancialInstruments 2023-01-31 07140062 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 07140062 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 07140062 d:Non-currentFinancialInstruments d:AfterOneYear 2024-01-31 07140062 d:Non-currentFinancialInstruments d:AfterOneYear 2023-01-31 07140062 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-01-31 07140062 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-01-31 07140062 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-01-31 07140062 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-01-31 07140062 d:ShareCapital 2024-01-31 07140062 d:ShareCapital 2023-01-31 07140062 d:RetainedEarningsAccumulatedLosses 2024-01-31 07140062 d:RetainedEarningsAccumulatedLosses 2023-01-31 07140062 c:OrdinaryShareClass1 2023-02-01 2024-01-31 07140062 c:OrdinaryShareClass1 2024-01-31 07140062 c:OrdinaryShareClass1 2023-01-31 07140062 c:FRS102 2023-02-01 2024-01-31 07140062 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 07140062 c:FullAccounts 2023-02-01 2024-01-31 07140062 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 07140062 e:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:shares xbrli:pure


Registered number: 07140062












DR MICHAEL WHITE LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

 

DR MICHAEL WHITE LIMITED

CONTENTS



Page
Company Information
 
1
Balance Sheet
 
2 - 3
Notes to the Financial Statements
 
4 - 11


 

DR MICHAEL WHITE LIMITED
 
COMPANY INFORMATION


Directors
Dr M White 
S J White 




Registered number
07140062



Registered office
16 Great Queen Street
Covent Garden

London

WC2B 5AH




Trading Address
West Greenbank
Hickmans Lane

Lindfield

West Sussex

RH16 2DR






Accountants
Blick Rothenberg Limited
Chartered Accountants

16 Great Queen Street

Covent Garden

London

WC2B 5AH




Page 1


 
REGISTERED NUMBER:07140062
DR MICHAEL WHITE LIMITED

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible fixed assets
 4 
57,526
55,407

Current assets
  

Debtors: amounts falling due within one year
 5 
88,348
74,888

Creditors: amounts falling due within one year
 6 
(124,393)
(95,427)

Net current liabilities
  
 
 
(36,045)
 
 
(20,539)

Total assets less current liabilities
  
21,481
34,868

Creditors: amounts falling due after more than one year
  
(20,489)
(33,977)

  

Net assets
  
992
891


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
892
791

Total equity
  
992
891


The directors consider that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




S J White
Director

Date: 8 October 2024

The notes on pages 4 to 11 form part of these financial statements.
Page 2


 
REGISTERED NUMBER:07140062
DR MICHAEL WHITE LIMITED
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024


Page 3

 

DR MICHAEL WHITE LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

Dr Michael Whilte Limited is a private company limited by shares and registered in England and Wales. It’s registered office is 16 Great Queen Street, Covent Garden, London, WC2B 5AH.
The financial statements are presented in Sterling (£), which is the functional currency of the company.
Monetary amounts in these financial statements are rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

After making enquiries, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence and meet its liabilities as they fall due for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

Page 4

 

DR MICHAEL WHITE LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

  
2.4

Intangible assets

Goodwill
Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis to the profit and loss account over its useful economic life.
Intangible assets
Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
25%
straight line
Motor vehicles
-
20%
straight line
Fixtures and fittings
-
25%
straight line
Computer equipment
-
33%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 5

 

DR MICHAEL WHITE LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

  
2.6

Share capital

Ordinary shares are classified as equity.

  
2.7

Cash at bank

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

  
2.8

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

  
2.9

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

  
2.10

Pensions

Defined contribution pension plan
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.
The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

  
2.11

Taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income.

  
2.12

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 6

 

DR MICHAEL WHITE LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)


2.13

Financial instruments

The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments.

Financial assets and financial liabilities are recognised when the company becomes party to the contractual provisions of the instrument. 

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. 
 
The company’s policies for its major classes of financial assets and financial liabilities are set out below. 

Financial assets
Basic financial assets, including trade and other debtors, bank balances are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Financial liabilities

Basic financial liabilities, including other creditors, bank loans are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Impairment of financial assets
Financial assets measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the profit and loss account. 

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. 

For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Page 7

 

DR MICHAEL WHITE LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)




Financial instruments (continued)

Derecognition of financial assets and financial liabilities
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. 
 
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Offsetting of financial assets and financial liabilities
Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

  
2.14

Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 3).


3.


Intangible assets




Goodwill

£



Cost


At 1 February 2023
602,630



At 31 January 2024

602,630



Amortisation


At 1 February 2023
602,630



At 31 January 2024

602,630



Net book value



At 31 January 2024
-



At 31 January 2023
-



Page 8

 

DR MICHAEL WHITE LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

4.


Tangible fixed assets





Plant and machinery
Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£
£



Cost 


At 1 February 2023
52,599
57,190
21,447
5,689
136,925


Additions
-
-
18,717
-
18,717



At 31 January 2024

52,599
57,190
40,164
5,689
155,642



Depreciation


At 1 February 2023
49,068
6,672
20,089
5,689
81,518


Charge for the year
2,088
11,438
3,072
-
16,598



At 31 January 2024

51,156
18,110
23,161
5,689
98,116



Net book value



At 31 January 2024
1,443
39,080
17,003
-
57,526



At 31 January 2023
3,531
50,518
1,358
-
55,407


5.


Debtors

2024
2023
£
£


Trade debtors
39,592
24,808

Other debtors
35,384
36,708

Tax recoverable
13,372
13,372

88,348
74,888


Page 9

 

DR MICHAEL WHITE LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

6.


Creditors: amounts falling due within one year

2024
2023
£
£

Bank overdrafts
40,863
37,568

Bank loans
13,668
13,668

Corporation tax
63,512
36,397

Other taxation and social security
-
40

Other creditors
-
608

Accruals and deferred income
6,350
7,146

124,393
95,427


Included within bank loans is a loan of £10,648 (2023: £10,648) guaranteed by the UK Government under The Bounce Back Loan Sceme (BBLS) and a bank loan of £3,020 (2023: £3,020) guaranteed by the directors.


7.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loan
13,668
13,668

Amounts falling due 1-2 years

Bank loan
13,668
13,668

Amounts falling due 2-5 years

Bank loan
6,821
20,309


34,157
47,645


Page 10

 

DR MICHAEL WHITE LIMITED

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



9.


Pension commitments

The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £19,478 (2023 - £19,478). Contributions totalling £nil (2023 - £nil) were payable to the fund at the balance sheet date.


10.


Related party transactions

The company paid expenses totalling £226,059 (2023: £70,862) on behalf of the directors. Dividends of £205,500 (2023 - £206,000) were paid to the directors. As at the balance sheet date the sum of £34,671 (2023 - £31,378) was owed by the directors to the company. The balance was repaid in full after the balance sheet date.

 
Page 11