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REGISTERED NUMBER: 09830339 (England and Wales)














Unaudited Financial Statements

for the Year Ended 30 March 2024

for

WHITE SQUARE DEVELOPMENTS LTD

WHITE SQUARE DEVELOPMENTS LTD (REGISTERED NUMBER: 09830339)

Contents of the Financial Statements
for the year ended 30 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


WHITE SQUARE DEVELOPMENTS LTD

Company Information
for the year ended 30 March 2024







Director: M D Smith





Registered office: New Derwent House
69-73 Theobalds Road
London
WC1X 8TA





Registered number: 09830339 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

WHITE SQUARE DEVELOPMENTS LTD (REGISTERED NUMBER: 09830339)

Balance Sheet
30 March 2024

2024 2023
Notes £    £   
Current assets
Debtors 4 463,335 436,908
Cash at bank 2,179 1,881
465,514 438,789
Creditors
Amounts falling due within one year 5 590,081 416,765
Net current (liabilities)/assets (124,567 ) 22,024
Total assets less current liabilities (124,567 ) 22,024

Creditors
Amounts falling due after more than one
year

6

13,333

23,333
Net liabilities (137,900 ) (1,309 )

Capital and reserves
Called up share capital 8 1 1
Retained earnings (137,901 ) (1,310 )
Shareholders' funds (137,900 ) (1,309 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 November 2024 and were signed by:





M D Smith - Director


WHITE SQUARE DEVELOPMENTS LTD (REGISTERED NUMBER: 09830339)

Notes to the Financial Statements
for the year ended 30 March 2024


1. Statutory information

White Square Developments Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is as accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed of.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

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.

WHITE SQUARE DEVELOPMENTS LTD (REGISTERED NUMBER: 09830339)

Notes to the Financial Statements - continued
for the year ended 30 March 2024


2. Accounting policies - continued

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

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 Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

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.

Going concern
The financial statements have been prepared on the going concern basis. The director has reviewed the company's cashflows over the next twelve months from the date of signing the financial statements and considers that, based on the support that is likely to be available, the company will be able to meet its debts as and when they fall due.

WHITE SQUARE DEVELOPMENTS LTD (REGISTERED NUMBER: 09830339)

Notes to the Financial Statements - continued
for the year ended 30 March 2024


3. Employees and directors

The average number of employees during the year was 1 (2023 - 1 ) .

4. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 374,927 -
Amounts owed by associates 76,166 15,248
Other debtors 12,242 421,660
463,335 436,908

5. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts (see note 7) 10,000 10,000
Trade creditors - 11,050
Amounts owed to associates 576,417 385,366
Taxation and social security 873 2,601
Other creditors 2,791 7,748
590,081 416,765

6. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans (see note 7) 13,333 23,333

7. Loans

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 10,000 10,000

Amounts falling due between one and two years:
Bank loans - 1-2 years 10,000 10,000

Amounts falling due between two and five years:
Bank loans - 2-5 years 3,333 13,333

The Bank loan is guaranteed by the UK Government as part of the Bounce Back Loan Scheme (BBLS). This bank loan was received on 10 July 2020.

8. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary 1 1 1

WHITE SQUARE DEVELOPMENTS LTD (REGISTERED NUMBER: 09830339)

Notes to the Financial Statements - continued
for the year ended 30 March 2024


9. Related party disclosures

As at the year end, there was a total amount of £76,166 (2023: £15,248) owed from companies related by virtue of common ownership.

As at the year end, there was a total amount of £576,417 (2023: £385,366) owed to companies related by virtue of common ownership. All the companies are connected by virtue of having M Smith as a common director.

10. Controlling party

The company is under the control of Michael Smith by virtue of his 100% shareholding.