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Registration number: 04713323

N J Whittaker Property Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

 

N J Whittaker Property Limited

(Registration number: 04713323)

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 8

 

N J Whittaker Property Limited

(Registration number: 04713323)

Company Information

Director

N J Whittaker

Company secretary

J A Whittaker

Registered office

1 Colleton Crescent
Exeter
Devon
EX2 4DG

Accountants

Thompson Jenner LLP
Chartered Accountants
1 Colleton Crescent
Exeter
Devon
EX2 4DG

 

N J Whittaker Property Limited

(Registration number: 04713323)

Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

425

724

Current assets

 

Debtors

5

5,093

1,419

Cash at bank and in hand

 

279,188

301,238

 

284,281

302,657

Creditors: Amounts falling due within one year

6

(7,198)

(7,579)

Net current assets

 

277,083

295,078

Total assets less current liabilities

 

277,508

295,802

Provisions for liabilities

(80)

(137)

Net assets

 

277,428

295,665

Capital and reserves

 

Called up share capital

2,200

2,200

Retained earnings

275,228

293,465

Shareholders' funds

 

277,428

295,665

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 21 January 2025
 

 

N J Whittaker Property Limited

(Registration number: 04713323)

Balance Sheet as at 30 April 2024

.........................................
N J Whittaker
Director

 

N J Whittaker Property Limited

(Registration number: 04713323)

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

1

General information

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

The address of its registered office is:
1 Colleton Crescent
Exeter
Devon
EX2 4DG

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.

Group accounts not prepared

The company is part of a small group. The company has taken advantage of the exemption provided by section 399(2A) of the Companies Act 2006 and has not prepared group accounts.

Going concern

The financial statements have been prepared on a going concern basis.

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.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

N J Whittaker Property Limited

(Registration number: 04713323)

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% straight line

Investment property

No depreciation is provided in respect of investment properties and they are revalued annually. The
surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original
cost, or its reversal, on an individual investment property is expected to be permanent, in which case
it is recognised in the profit and loss account for the year.

This treatment as regards the company's investment properties may be a departure from the
requirements of the Companies Act concerning the depreciation of fixed assets. However, these
properties are not held for consumption but for investment and the directors consider that systematic
annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for
the financial statements to give a true and fair view. Depreciation or amortisation is only one of many
factors reflected in the annual valuation and the amount which might otherwise have been shown
cannot be separately identified or quantified.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

 

N J Whittaker Property Limited

(Registration number: 04713323)

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

 

N J Whittaker Property Limited

(Registration number: 04713323)

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 May 2023

1,197

256

1,453

At 30 April 2024

1,197

256

1,453

Depreciation

At 1 May 2023

473

256

729

Charge for the year

299

-

299

At 30 April 2024

772

256

1,028

Carrying amount

At 30 April 2024

425

-

425

At 30 April 2023

724

-

724

 

N J Whittaker Property Limited

(Registration number: 04713323)

Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024

5

Debtors

2024
£

2023
£

Other debtors

5,093

611

Prepayments and accrued income

-

808

Total current trade and other debtors

5,093

1,419

6

Creditors

2024
£

2023
£

Due within one year

Trade creditors

4,247

-

Other creditors

1,474

6,143

Accrued expenses

1,477

1,436

7,198

7,579