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Registered number: 2719095










WHOLECOURT LIMITED








UNAUDITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024



 
WHOLECOURT LIMITED
 

COMPANY INFORMATION


DIRECTORS
Mark Pears 
Sir Trevor Pears CMG 
David Pears 
WPG Registrars Limited 




COMPANY SECRETARY
William Bennett



REGISTERED NUMBER
2719095



REGISTERED OFFICE
12th Floor Aldgate Tower
2 Leman Street

London

E1W 9US





 
WHOLECOURT LIMITED
 

CONTENTS



Page
Directors' Report
1
Statement of Comprehensive Income
2
Statement of Financial Position
3
Statement of Changes in Equity
4
Notes to the Financial Statements
5 - 10


 
WHOLECOURT LIMITED
 
 
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 APRIL 2024

The directors present their report and the financial statements for the year ended 30 April 2024.

PRINCIPAL ACTIVITY

The principal activities of the company are dealing in freehold ground rents and rent charges arising out of land.


DIRECTORS

The directors who served during the year were:

Mark Pears 
Sir Trevor Pears CMG 
David Pears 
WPG Registrars Limited 


SMALL COMPANIES NOTE

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board on 3 October 2024 and signed on its behalf.
 





William Bennett
Secretary

Page 1

 
WHOLECOURT LIMITED
 

STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 APRIL 2024

2024
2023
Note
£
£

  

Turnover
 3 
131,103
217,481

Cost of sales
 3 
(43,940)
(15,468)

GROSS PROFIT
 3 
87,163
202,013

Administrative expenses
  
(2,414)
(2,457)

OPERATING PROFIT
  
84,749
199,556

Interest receivable and similar income
  
131,055
68,533

PROFIT BEFORE TAX
  
215,804
268,089

Tax on profit
 5 
(53,951)
(52,259)

PROFIT FOR THE FINANCIAL YEAR
  
161,853
215,830

  

TOTAL COMPREHENSIVE INCOME FOR THE YEAR
  
161,853
215,830

The notes on pages 5 to 10 form part of these financial statements.

Page 2

 
WHOLECOURT LIMITED
REGISTERED NUMBER:2719095

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
2023
Note
£
£

  

CURRENT ASSETS
  

Stocks
 6 
105,246
105,517

Debtors: amounts falling due within one year
 7 
2,245,546
2,167,413

Cash at bank and in hand
  
7,186
7,859

  
2,357,978
2,280,789

Creditors: amounts falling due within one year
 8 
(27,279)
(111,943)

NET CURRENT ASSETS
  
 
 
2,330,699
 
 
2,168,846

TOTAL ASSETS LESS CURRENT LIABILITIES
  
2,330,699
2,168,846

  

NET ASSETS
  
2,330,699
2,168,846


CAPITAL AND RESERVES
  

Called up share capital 
  
6
6

Profit and loss account
 9 
2,330,693
2,168,840

TOTAL EQUITY
  
2,330,699
2,168,846


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 were approved and authorised for issue by the board and were signed on its behalf on 3 October 2024.




David Pears
Director

The notes on pages 5 to 10 form part of these financial statements.

Page 3

 
WHOLECOURT LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2024


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 May 2023
6
2,168,840
2,168,846


COMPREHENSIVE INCOME FOR THE YEAR

Profit for the year
-
161,853
161,853
TOTAL COMPREHENSIVE INCOME FOR THE YEAR
-
161,853
161,853


AT 30 APRIL 2024
6
2,330,693
2,330,699


The notes on pages 5 to 10 form part of these financial statements.


STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2023


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 May 2022
6
1,953,010
1,953,016


COMPREHENSIVE INCOME FOR THE YEAR

Profit for the year
-
215,830
215,830
TOTAL COMPREHENSIVE INCOME FOR THE YEAR
-
215,830
215,830


AT 30 APRIL 2023
6
2,168,840
2,168,846


The notes on pages 5 to 10 form part of these financial statements.

Page 4

 
WHOLECOURT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


GENERAL INFORMATION

Wholecourt Limited is a private company limited by shares incorporated in England and Wales. The registered office is 12th Floor Aldgate Tower, 2 Leman Street, London, E1W 9US. The principal place of business is Haskell House, 152 West End Lane, London, NW6 1SD.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006 other than where additional disclosure is required to show a true and fair view. 
The company's functional and presentational currency is GBP and rounded to the nearest £1.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.
The following principal accounting policies have been applied:
 

 
2.2

GOING CONCERN

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing these
financial statements.

 
2.3

TURNOVER

Turnover 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. Turnover is measured as the fair value of the rents receivable and sales of property trading stock.

  
2.4

PROPERTY TRANSACTIONS

Purchases and sales of properties are included on the basis of completions occuring during the year.

 
2.5

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

TAXATION

Tax is recognised in profit or loss 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.

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 income.

Page 5

 
WHOLECOURT LIMITED
 

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.7

STOCKS

Stocks of properties are valued at the lower of cost and estimated selling price less costs to complete and sell.
At each reporting date, Stocks are assessed for impairment. If property is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in income statement.
All repairs, maintenance costs and renewals are written off as incurred.
Certain refurbishment costs which are part of major property refurbishment programmes may,depending on the nature of the works being undertaken, be capitalised in the statement of financial position as part of property stock.

 
2.8

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.9

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.

 
2.10

CREDITORS

Short term creditors are measured at the transaction price.

Page 6

 
WHOLECOURT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

3.


ANALYSIS OF TURNOVER

All turnover arose within the United Kingdom

Turnover
2024
2023
Cost of
Sales
2024
2023
Gross profit
2024
2023
        £
        £
        £
        £
        £
        £

Sales of trading  stock  properties

105,050

191,735

(32,034)
 
(7,551)
 
73,016

184,184

Rental income

26,053

25,746

(11,906)
 
(7,917)
 
14,147

17,829

Total

131,103

217,481

(43,940)
 
(15,468)
 
87,163

202,013


Cost of sales of rental income comprises property outgoings.






4.


EMPLOYEES

The average monthly number of employees, including the directors, during the year was as follows:


        2024
        2023
            No.
            No.







Directors
3
3


5.


TAXATION


2024
2023
£
£

CORPORATION TAX


Current tax on profits for the year
53,951
52,259


53,951
52,259


TOTAL CURRENT TAX
53,951
52,259
Page 7

 
WHOLECOURT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
 
5.TAXATION (CONTINUED)


FACTORS AFFECTING TAX CHARGE FOR THE YEAR

The tax assessed for the year is the same as (2023 -lower than) the standard rate of corporation tax in the UK of 25% (2023 -19.5%). The differences are explained below:

2024
2023
£
£


Profit on ordinary activities before tax
215,804
268,089


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 -19.5%)
53,951
52,277

EFFECTS OF:


Short term timing difference leading to a decrease in taxation
-
(18)

TOTAL TAX CHARGE FOR THE YEAR
53,951
52,259


FACTORS THAT MAY AFFECT FUTURE TAX CHARGES

There were no factors that may affect future tax charges.

Page 8

 
WHOLECOURT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

6.


STOCKS

2024
2023
£
£

Freehold ground rents
105,246
105,517

105,246
105,517


Stocks are represented by freehold ground rents and rent charges arising out of land which are held for trading purposes.


7.


DEBTORS

2024
2023
£
£


Sundry loan
2,190,575
2,073,292

Other debtors
54,971
94,121

2,245,546
2,167,413



8.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Corporation tax
-
6,254

Other creditors
17,738
24,805

Accruals and deferred income
9,541
80,884

27,279
111,943


Page 9

 
WHOLECOURT LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

9.


RESERVES

Profit & loss account

The profit and loss account includes all current and prior year retained profit and losses.


10.


RELATED PARTY TRANSACTIONS

During the year there were the following transactions with companies and entities in which the directors, Mark Pears, Sir Trevor Pears CMG and David Pears have an interest.

2024
2023
£
£



Management fees payable
2,400
2,400

Loan interest receivable
130,882
68,509

At the year end there were the following balances with companies and entities in which the directors Mark Pears, Sir Trevor Pears CMG and David Pears have an interest.

2024
2023
£
£



Loan due from The William Pears Group of Companies Limited
2,190,575
2,073,292

Balance due to Hamways Limited
5,793
31,793


Page 10