Whittons Properties Limited 11812675 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of a property investment and development company. Digita Accounts Production Advanced 6.30.9574.0 true 11812675 2023-04-01 2024-03-31 11812675 2024-03-31 11812675 core:RetainedEarningsAccumulatedLosses 2024-03-31 11812675 core:ShareCapital 2024-03-31 11812675 core:CurrentFinancialInstruments 2024-03-31 11812675 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 11812675 bus:SmallEntities 2023-04-01 2024-03-31 11812675 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 11812675 bus:FullAccounts 2023-04-01 2024-03-31 11812675 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 11812675 bus:RegisteredOffice 2023-04-01 2024-03-31 11812675 bus:Director1 2023-04-01 2024-03-31 11812675 bus:Director2 2023-04-01 2024-03-31 11812675 bus:Director3 2023-04-01 2024-03-31 11812675 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 11812675 countries:AllCountries 2023-04-01 2024-03-31 11812675 2023-03-31 11812675 2022-04-01 2023-03-31 11812675 2023-03-31 11812675 core:RetainedEarningsAccumulatedLosses 2023-03-31 11812675 core:ShareCapital 2023-03-31 11812675 core:CurrentFinancialInstruments 2023-03-31 11812675 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 11812675

Whittons Properties Limited

Filleted Unaudited Financial Statements

for the Year Ended 31 March 2024

 

Whittons Properties Limited
(Registration number: 11812675)

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 5

 

Whittons Properties Limited
(Registration number: 11812675)

Company Information

Directors

Mrs Maria Elaine Whitton

Mr Edward James Wakefield Whitton

Mr Archie James Wakefield Whitton

Registered office

28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

Accountants

Thompson Jenner LLP
Chartered Accountants
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD

 

Whittons Properties Limited
(Registration number: 11812675)

Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investment property

4

484,750

388,968

Creditors: Amounts falling due within one year

5

(486,879)

(388,868)

Net (liabilities)/assets

 

(2,129)

100

Capital and reserves

 

Called up share capital

100

100

Profit and loss account

(2,229)

-

Total equity

 

(2,129)

100

For the financial year ending 31 March 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 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 3 January 2025 and signed on its behalf by:
 

.........................................
Mrs Maria Elaine Whitton
Director

 

Whittons Properties Limited
(Registration number: 11812675)

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

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
28 Alexandra Terrace
Exmouth
Devon
EX8 1BD
England

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.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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 for each of the company's activities.

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.

 

Whittons Properties Limited
(Registration number: 11812675)

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

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

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).

4

Investment properties

2024
£

At 1 April

388,968

Additions

95,782

At 31 March

484,750

The investment property was valued by the Directors at the net book value of £484,750, as at the year end.

 

Whittons Properties Limited
(Registration number: 11812675)

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

5

Creditors

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

6

73

-

Amounts owed to group undertakings and undertakings in which the company has a participating interest

428,468

338,968

Other creditors

 

57,088

49,900

Accrued expenses

 

1,250

-

 

486,879

388,868

6

Loans and borrowings

2024
£

2023
£

Current loans and borrowings

Bank overdrafts

73

-