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Registration number: 01795013

Brian Whittle Associates Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

Brian Whittle Associates Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Brian Whittle Associates Limited

Company Information

Directors

J Whittle

J R S Whittle

R H C Pasha

Registered office

Kingfisher Court
Plaxton Bridge Road
Woodmansey
Beverley
East Yorkshire
HU17 0RT

 

Brian Whittle Associates Limited

(Registration number: 01795013)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

1,320

1,320

Investment property

6

875,000

875,000

 

876,320

876,320

Current assets

 

Debtors

7

9,695

7,992

Cash at bank and in hand

 

15,611

23,105

 

25,306

31,097

Creditors: Amounts falling due within one year

8

(484,824)

(480,488)

Net current liabilities

 

(459,518)

(449,391)

Total assets less current liabilities

 

416,802

426,929

Creditors: Amounts falling due after more than one year

8

(333,177)

(346,455)

Net assets

 

83,625

80,474

Capital and reserves

 

Called up share capital

200,001

200,001

Fair value reserve

(40,496)

(40,496)

Retained earnings

(75,880)

(79,031)

Shareholders' funds

 

83,625

80,474

For the financial year ending 31 July 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 Directors acknowledge their 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 Directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 October 2024 and signed on its behalf by:
 

.........................................
J Whittle
Director

.........................................
J R S Whittle
Director

.........................................
R H C Pasha
Director

     
 

Brian Whittle Associates Limited

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

1

General information

The company is a private company limited by share capital incorporated in England and Wales and the company registration number is 01795013.

The address of its registered office is:
Kingfisher Court
Plaxton Bridge Road
Woodmansey
Beverley
East Yorkshire
HU17 0RT

These financial statements were authorised for issue by the Board on 30 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.

The financial statements have been prepared in sterling and are rounded to the nearest pound.

Revenue recognition

Turnover represents rents receivable, excluding value added tax.

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 of each of the companies activities

Tax

The tax expense for the period comprises 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.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the Company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

 

Brian Whittle Associates Limited

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

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the profit and loss account.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss has been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in the profit and loss account.

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measure at cost less any accumulated amortisation and any accumulated impairment losses.

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.

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 Directors) during the year, was 3 (2023 - 3).

 

Brian Whittle Associates Limited

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

4

Intangible assets

Trademarks, patents and licenses
 £

Total
£

Cost or valuation

At 1 August 2023

1,320

1,320

At 31 July 2024

1,320

1,320

Amortisation

Carrying amount

At 31 July 2024

1,320

1,320

At 31 July 2023

1,320

1,320

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 August 2023

33,465

33,465

At 31 July 2024

33,465

33,465

Depreciation

At 1 August 2023

33,465

33,465

At 31 July 2024

33,465

33,465

Carrying amount

At 31 July 2024

-

-

6

Investment properties

2024
£

At 1 August

875,000

At 31 July

875,000

The investment properties were valued by Kirkby Diamond, an independent valuer, on 16 June 2023.

 

Brian Whittle Associates Limited

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

7

Debtors

2024
£

2023
£

Other debtors

9,695

7,992

9,695

7,992

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

30,561

29,040

Accruals and deferred income

 

9,655

6,840

Other creditors

 

444,608

444,608

 

484,824

480,488


The loan is secured by fixed and floating charges over the investment property.

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

9

333,177

346,455

 

Brian Whittle Associates Limited

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

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

333,177

346,455

Current loans and borrowings

2024
£

2023
£

Bank borrowings

29,418

27,940

Other borrowings

1,143

1,100

30,561

29,040

Other borrowings included unsecured amounts due to Directors.

10

Related party transactions

Other transactions with Directors

At the year end the company owed the directors £1,142 (2023: £1,100). Loans made to the company by the directors are unsecured, interest free and repayable on demand.