Registered Number:00579190 |
For the year ended 31 March 2024
England and Wales
Unaudited Financial Statements
For the year ended 31 March 2024
G. Whitfield Limited
Contents Page
1
Statement of Financial Position
2 to 6
Notes to the Financial Statements
G. Whitfield Limited
Statement of Financial Position
2023
2024
Property, plant and equipment |
482,343
491,910
3
1,036,133
1,036,132
4
1,518,475
1,528,043
275,410
297,060
5
Trade and other receivables |
809,670
803,837
6
206,388
Cash and cash equivalents |
343,726
1,444,623
1,291,468
Trade and other payables: amounts falling due within one |
year |
(1,306,021)
(1,566,237)
7
(14,553)
(121,614)
Net current liabilities
Total assets less current liabilities |
1,396,861
1,513,490
Trade and other payables: amounts falling due after more |
than one year |
(329,361)
(292,052)
8
1,104,809
Net assets
1,184,129
70
70
1,104,739
1,184,059
1,104,809
1,184,129
Shareholders' funds
For the year ended 31 March 2024 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. |
The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006 |
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section 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. |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
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For the year ended 31 March 2024
G. Whitfield Limited
Statement of Financial Position Continued
Mrs. V.C. Whitfield Director |
These financial statements were approved and authorised for issue by the Board on 13 January 2025 and were signed by: |
The notes form part of these financial statements |
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For the year ended 31 March 2024
G. Whitfield Limited
Notes to the Financial Statements
Statutory Information
G. Whitfield Limited is a private limited company, limited by shares, domiciled in England and Wales, |
registration number 00579190. |
1a Church Street
Houghton le Spring
The presentation currency is £ sterling. |
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial |
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and |
the Companies Act 2006. The financial statements have been prepared under the historical costs convention as |
modified by the revaluation of certain assets. |
The financial statements have been prepared on a going concern basis as the directors believe that no material |
uncertainties exist. The directors have considered the level of funds held and the expected level of income and |
expenditure for 12 months from authorising these financial statements and have concluded that the company is |
able to continue as a going concern. |
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts. |
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable. |
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis: |
Freehold property
Plant, equipment and vehicles
Improvements to short l/h prop
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. |
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable. |
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For the year ended 31 March 2024
G. Whitfield Limited
Notes to the Financial Statements Continued
2. Intangible fixed assets |
Goodwill
491,214
491,214
491,214
491,214
-
-
3. Property, plant and equipment |
Motor vehicles
Plant, |
equipment and |
vehicles |
1,060,272
18,990
453,413
587,869
587,869
453,413
18,990
1,060,272
Provision for depreciation and impairment |
568,362
16,765
447,085
104,512
Charge for year
9,567
556
2,110
6,901
577,929
17,321
449,195
111,413
476,456
4,218
1,669
482,343
483,357
6,328
2,225
491,910
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For the year ended 31 March 2024
G. Whitfield Limited
Notes to the Financial Statements Continued
4. Investments held as fixed assets |
Shares in group and participating interests |
1,036,132
1,036,132
1,036,132
1,036,132
1,036,132
1,036,132
1,036,132
1,036,132
Investments are recognised initially at fair value which is normally the transaction price excluding transaction |
costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or |
their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment. |
2023
2024
297,060
275,410
6. Trade and other receivables |
2023
2024
470,791
459,321
Prepayments and accrued income |
34,758
45,423
298,288
304,926
809,670
803,837
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For the year ended 31 March 2024
G. Whitfield Limited
Notes to the Financial Statements Continued
7. Trade and other payables: amounts falling due within one year |
2023
2024
Bank loans and overdraft (secured) |
52,000
52,000
11,400
11,400
733,157
542,709
Taxation and social security |
40,257
39,592
729,423
660,320
1,566,237
1,306,021
8. Trade and other payables: amounts falling due after more than one year |
2023
2024
12,767
23,488
Bank loans and overdraft (secured) |
279,285
305,873
292,052
329,361
9. Average number of persons employed |
During the year the average number of employees were 77 (2023 : 77)
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