BrightAccountsProduction v1.0.0 v1.0.0 2023-04-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activty of this company is that of fund management activities. 2 October 2024 4 4 NI630529 2024-03-31 NI630529 2023-03-31 NI630529 2022-03-31 NI630529 2023-04-01 2024-03-31 NI630529 2022-04-01 2023-03-31 NI630529 uk-bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 NI630529 uk-curr:PoundSterling 2023-04-01 2024-03-31 NI630529 uk-bus:AbridgedAccounts 2023-04-01 2024-03-31 NI630529 uk-bus:Director1 2023-04-01 2024-03-31 NI630529 uk-bus:Director2 2023-04-01 2024-03-31 NI630529 uk-bus:Director3 2023-04-01 2024-03-31 NI630529 uk-bus:Director4 2023-04-01 2024-03-31 NI630529 uk-bus:RegisteredOffice 2023-04-01 2024-03-31 NI630529 uk-bus:Agent1 2023-04-01 2024-03-31 NI630529 uk-core:ShareCapital 2024-03-31 NI630529 uk-core:ShareCapital 2023-03-31 NI630529 uk-core:SharePremium 2024-03-31 NI630529 uk-core:SharePremium 2023-03-31 NI630529 uk-core:RetainedEarningsAccumulatedLosses 2024-03-31 NI630529 uk-core:RetainedEarningsAccumulatedLosses 2023-03-31 NI630529 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-03-31 NI630529 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-03-31 NI630529 uk-bus:FRS102 2023-04-01 2024-03-31 NI630529 uk-core:Goodwill 2023-04-01 2024-03-31 NI630529 uk-core:Goodwill 2023-03-31 NI630529 uk-core:Goodwill 2024-03-31 NI630529 uk-core:CostValuation 2023-03-31 NI630529 uk-core:AdditionsToInvestments 2023-03-31 NI630529 uk-core:AdditionsToInvestments 2024-03-31 NI630529 uk-core:CostValuation 2024-03-31 NI630529 2023-04-01 2024-03-31 NI630529 uk-bus:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: NI630529
 
 
Whiterock Finance Limited
 
Abridged Unaudited Financial Statements
 
for the financial year ended 31 March 2024
Whiterock Finance Limited
DIRECTORS AND OTHER INFORMATION

 
Directors Mr. Neil McCabe
Mr. David McCurley
Mr. Paul Millar
Ms. Rhona Barbour
 
 
Company Registration Number NI630529
 
 
Registered Office and Business Address 8th Floor
11-13 Gloucester Street
Belfast
Antrim
BT1 4LS
Northern Ireland
 
 
Accountants Muldoon & Co Ltd
Chartered Accountants
16 Mount Charles
Belfast
BT7 1NZ



Whiterock Finance Limited
Company Registration Number: NI630529
ABRIDGED STATEMENT OF FINANCIAL POSITION
as at 31 March 2024

2024 2023
Notes £ £
 
Non-Current Assets
Intangible assets 5 15,144 23,798
Financial assets 6 373,104 285,267
───────── ─────────
Non-Current Assets 388,248 309,065
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Current Assets
Debtors 773,561 936,464
Cash and cash equivalents 397,913 153,876
───────── ─────────
1,171,474 1,090,340
───────── ─────────
Creditors: amounts falling due within one year (230,139) (132,478)
───────── ─────────
Net Current Assets 941,335 957,862
───────── ─────────
Total Assets less Current Liabilities 1,329,583 1,266,927
═════════ ═════════
 
Capital and Reserves
Called up share capital 100 100
Share premium account 7 9,991 9,991
Retained earnings 1,319,492 1,256,836
───────── ─────────
Equity attributable to owners of the company 1,329,583 1,266,927
═════════ ═════════
 
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).
           
All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.
           
The company has taken advantage of the exemption under section 444 not to file the Abridged Income Statement and Directors' Report.
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.
           
Approved by the Board and authorised for issue on 2 October 2024 and signed on its behalf by
           
           
           
________________________________          
Mr. Paul Millar          
Director          
           



Whiterock Finance Limited
NOTES TO THE ABRIDGED FINANCIAL STATEMENTS
for the financial year ended 31 March 2024

   
1. General Information
 
Whiterock Finance Limited is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI630529. The registered office of the company is 8th Floor, 11-13 Gloucester Street, Belfast, Antrim, BT1 4LS, Northern Ireland which is also the principal place of business of the company. The principal activty of this company is that of fund management activities. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 31 March 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006. These are the company's first set of financial statements prepared in accordance with FRS 102.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Goodwill
Purchased goodwill arising on the acquisition of a business represents the excess of the acquisition cost over the fair value of the identifiable net assets including other intangible fixed assets when they were acquired. Purchased goodwill is capitalised in the Statement of Financial Position and amortised on a straight line basis over its economic useful life of 10 years, which is estimated to be the period during which benefits are expected to arise.  On disposal of a business any goodwill not yet amortised is included in determining the profit or loss on sale of the business.
 
Financial assets
Investments held as fixed assets are stated at cost less provision for any permanent diminution in value. Income from other investments together with any related tax credit is recognised in the Income Statement in the year in which it is receivable.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
   
3. Adoption of FRS 102 Section 1A
 
This is the first set of financial statements prepared by Whiterock Finance Limited in accordance with accounting standards issued by the Financial Reporting Council, including FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” Section 1A (Small Entities). The company transitioned from previously extant Irish and UK GAAP to FRS 102 Section 1A as at 1 April 2018.
       
4. Employees
 
The average monthly number of employees, including directors, during the financial year was:
 
  2024 2023
  Number Number
 
Directors 4 4
  ═════════ ═════════
       
5. Intangible assets
     
  Goodwill Total
  £ £
Cost
At 1 April 2023 86,539 86,539
  ───────── ─────────
 
At 31 March 2024 86,539 86,539
  ───────── ─────────
Amortisation
At 1 April 2023 62,741 62,741
Charge for financial year 8,654 8,654
  ───────── ─────────
At 31 March 2024 71,395 71,395
  ───────── ─────────
Net book value
At 31 March 2024 15,144 15,144
  ═════════ ═════════
At 31 March 2023 23,798 23,798
  ═════════ ═════════
       
6. Financial fixed assets
  Other Total
  investments  
     
Investments £ £
Cost or Valuation
At 1 April 2023 285,267 285,267
Additions 87,837 87,837
  ───────── ─────────
At 31 March 2024 373,104 373,104
  ───────── ─────────
Net book value
At 31 March 2024 373,104 373,104
  ═════════ ═════════
At 31 March 2023 285,267 285,267
  ═════════ ═════════
   
7. Reserves
 
Share Premium Reserve
 
A share premium arose during the year ended 31 March 2019 from the issue of new shares.
 
   
8. Events After the End of the Reporting Period
 
There have been no significant events affecting the company since the financial year-end.