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Registered number: 03004480









WHITECODE CONSULTING LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 29 FEBRUARY 2024

 
WHITECODE CONSULTING LIMITED
REGISTERED NUMBER: 03004480

BALANCE SHEET
AS AT 29 FEBRUARY 2024

29 February
28 February
2024
2023
                                                                     Note
£
£

Fixed assets
  

Tangible assets
 4 
107,109
116,673

Current assets
  

Debtors: amounts falling due within one year
 5 
1,747,440
1,395,588

Cash at bank and in hand
 6 
639,819
254,936

  
2,387,259
1,650,524

Creditors: amounts falling due within one year
 7 
(920,241)
(591,059)

Net current assets
  
 
 
1,467,018
 
 
1,059,465

Total assets less current liabilities
  
1,574,127
1,176,138

  

Net assets
  
1,574,127
1,176,138


Capital and reserves
  

Called up share capital 
 8 
10,000
10,000

Profit and loss account
  
1,564,127
1,166,138

  
1,574,127
1,176,138


Page 1

 
WHITECODE CONSULTING LIMITED
REGISTERED NUMBER: 03004480
    
BALANCE SHEET (CONTINUED)
AS AT 29 FEBRUARY 2024

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 statement of comprehensive income 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 




A D Hill
Director

Date: 25 November 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
WHITECODE CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1.


General information

Whitecode Consulting Limited is a private limited company incorporated in England and Wales. The registered office of the company is 26-27 The Hill, Northfleet, Gravesend, DA11 9EU. The principal activity of the company in the year under review was that of building services design consultants.

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

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.

 
2.3

Operating leases: the company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.4

Interest income

Interest income is recognised in the Statement of comprehensive income using the effective interest method.

Page 3

 
WHITECODE CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

 
2.5

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.

  
2.6

Taxation

Tax is recognised in Statement of comprehensive income 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 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.

 
2.7

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following bases:



Fixtures & fittings
-
20% Straight Line.
Office 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 4

 
WHITECODE CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

2.Accounting policies (continued)

  
2.8

Work in progress

Profit on long-term contracts is taken as the work is carried out if the final outcome can be assessed with reasonable certainty. The profit included is calculated on a prudent basis to reflect the proportion of the work carried out at the year end, by recording turnover and related costs as contract activity progresses. Turnover is calculated as the proportion of total contract value which costs incurred to date bear to total expected costs for that contract. Revenues derived from variations on contracts are recognised only when they have been accepted by the customer. Full provision is made for losses on all contracts in the year in which they are first foreseen.

 
2.9

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.

 
2.10

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.

 
2.11

Creditors

Short-term creditors 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.

 
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.


3.


Employees

The average monthly number of employees, including directors, during the year was 52 (2023 - 46).

Page 5

 
WHITECODE CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

4.


Tangible fixed assets







Fixtures & fittings
Office equipment
Total

£
£
£



Cost or valuation


At 1 March 2023
81,324
100,730
182,054


Additions
-
43,640
43,640



At 29 February 2024

81,324
144,370
225,694



Depreciation


At 1 March 2023
29,198
36,183
65,381


Charge for the year on owned assets
16,265
36,939
53,204



At 29 February 2024

45,463
73,122
118,585



Net book value



At 29 February 2024
35,861
71,248
107,109



At 28 February 2023
52,126
64,547
116,673

Page 6

 
WHITECODE CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

5.


Debtors

29 February
28 February
2024
2023
£
£


Trade debtors
1,216,684
1,072,061

Amounts owed by group undertakings
311,580
119,125

Other debtors
12,124
8,550

Prepayments and accrued income
207,052
195,852

1,747,440
1,395,588



6.


Cash and cash equivalents

29 February
28 February
2024
2023
£
£

Cash at bank and in hand
639,819
254,936

639,819
254,936



7.


Creditors: Amounts falling due within one year

29 February
28 February
2024
2023
£
£

Trade creditors
132,934
173,881

Amounts owed to group undertakings
8,171
20,815

Corporation tax
180,369
-

Other taxation and social security
244,138
180,266

Other creditors
16,755
19,062

Accruals and deferred income
337,874
197,035

920,241
591,059


Page 7

 
WHITECODE CONSULTING LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

8.


Share capital

29 February
28 February
2024
2023
£
£
Allotted, called up and fully paid



5,100 (2023 - 5,100) Ordinary A shares of £1.00 each
5,100
5,100
3,900 (2023 - 3,900) Ordinary B shares of £1.00 each
3,900
3,900
1,000 (2023 - 1,000) Ordinary C shares of £1.00 each
1,000
1,000

10,000

10,000


 
Page 8