Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-302023-05-01falseNo description of principal activity00falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 10000274 2023-05-01 2024-04-30 10000274 2022-05-01 2023-04-30 10000274 2024-04-30 10000274 2023-04-30 10000274 c:CompanySecretary1 2023-05-01 2024-04-30 10000274 c:Director1 2023-05-01 2024-04-30 10000274 c:Director2 2023-05-01 2024-04-30 10000274 c:RegisteredOffice 2023-05-01 2024-04-30 10000274 c:Agent1 2023-05-01 2024-04-30 10000274 d:FreeholdInvestmentProperty 2024-04-30 10000274 d:FreeholdInvestmentProperty 2023-04-30 10000274 d:CurrentFinancialInstruments 2024-04-30 10000274 d:CurrentFinancialInstruments 2023-04-30 10000274 d:Non-currentFinancialInstruments 2024-04-30 10000274 d:Non-currentFinancialInstruments 2023-04-30 10000274 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 10000274 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 10000274 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 10000274 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 10000274 d:ShareCapital 2024-04-30 10000274 d:ShareCapital 2023-04-30 10000274 d:RetainedEarningsAccumulatedLosses 2024-04-30 10000274 d:RetainedEarningsAccumulatedLosses 2023-04-30 10000274 c:FRS102 2023-05-01 2024-04-30 10000274 c:AuditExemptWithAccountantsReport 2023-05-01 2024-04-30 10000274 c:FullAccounts 2023-05-01 2024-04-30 10000274 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 10000274 d:EntityControlledByKeyManagementPersonnel1 2023-05-01 2024-04-30 10000274 d:AcceleratedTaxDepreciationDeferredTax 2024-04-30 10000274 d:AcceleratedTaxDepreciationDeferredTax 2023-04-30 10000274 e:PoundSterling 2023-05-01 2024-04-30 iso4217:GBP xbrli:pure

Registered number: 10000274









WHITE LEISURE PROPERTIES LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 APRIL 2024

 
WHITE LEISURE PROPERTIES LIMITED
 
 
COMPANY INFORMATION


Directors
Ms C White 
Sir C White 




Company secretary
Ms C White



Registered number
10000274



Registered office
18 Tulketh Street

Southport

Merseyside

PR8 1AQ




Accountants
Grant Thornton UK LLP
Chartered Accountants

Royal Liver Building

Liverpool

L3 1PS




Bankers
Santander UK PLC
250 Stanley Road

Bootle

Merseyside

L20 3PQ




Solicitors
Taylor Rose TTKW Limited
1-3 Palmyra Square

Warrington

Cheshire

WA1 1BZ





 
WHITE LEISURE PROPERTIES LIMITED
 

CONTENTS



Page
Accountants' Report
 
1
Statement of Financial Position
 
2 - 3
Notes to the Financial Statements
 
4 - 9

  
  img3d07.png
Report to the directors on the preparation of the unaudited statutory financial statements of White Leisure Properties Limited for the year ended 30 April 2024 

We have compiled the accompanying financial statements of White Leisure Properties Limited (the ‘company’)  based on the information you have provided. These financial statements comprise the Statement of Financial Position of White Leisure Properties Limited as at 30 April 2024 and a summary of significant accounting policies and other explanatory information.

We performed this compilation engagement in accordance with International Standard on Related Services 4410 (Revised), 'Compilation Engagements'.

We have applied our expertise in accounting and financial reporting to assist you in the preparation and presentation of these financial statements in accordance with applicable law and United Kingdom Accounting Standardsincluding Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). As a member firm of the Institute of Chartered Accountants in England and Waleswe are subject to its ethical and other professional requirements which are detailed at www.icaew.com

These financial statements and the accuracy and completeness of the information used to compile them are your responsibility.

Since a compilation engagement is not an assurance engagement, we are not required to verify the accuracy or completeness of the information you provided to us to compile these financial statements. Accordingly, we do not express an audit opinion or a review conclusion on whether these financial statements are prepared in accordance with United Kingdom Generally Accepted Accounting Practice.

This report is made solely to the Company's directors, as a body,  in accordance with the terms of our engagement letter dated 21 October 2024Our work has been undertaken solely to prepare for your approval the financial statements of the company and state those matters that we have agreed to state to the Company's directors, as a body,  in this report in accordance with our engagement letter dated 21 October 2024. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its directors, as a body,  for our work or for this report.




Grant Thornton UK LLP
 
Chartered Accountants
  
Liverpool

27 January 2025
Page 1

 
WHITE LEISURE PROPERTIES LIMITED
REGISTERED NUMBER:10000274

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
1,277,551
1,277,551

Current assets
  

Debtors: amounts falling due within one year
 5 
56,303
34,668

Cash at bank and in hand
  
88,643
61,672

  
144,946
96,340

Creditors: amounts falling due within one year
 6 
(756,334)
(724,462)

Net current liabilities
  
 
 
(611,388)
 
 
(628,122)

Total assets less current liabilities
  
666,163
649,429

Creditors: amounts falling due after more than one year
 7 
(600,698)
(622,050)

Provisions for liabilities
  

Deferred tax
 8 
(1,273)
(1,273)

  
 
 
(1,273)
 
 
(1,273)

Net assets
  
64,192
26,106


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
64,092
26,006

  
64,192
26,106

Page 2

 
WHITE LEISURE PROPERTIES LIMITED
REGISTERED NUMBER:10000274
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 



Sir C White
Director

Date: 22 January 2025

The notes on pages 4 to 9 form part of these financial statements.

Page 3

 
WHITE LEISURE PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

White Leisure Properties Limited is a private company, limited by shares, registered in England and Wales. Registration number 10000274. The registered office is 18 Tulketh Street, Southport, Merseyside, PR8 1AQ.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The directors have considered the current global economic outlook on the company's trading environment.
• The directors have reviewed the future cash requirements of the company. Considering possible changes in the company's trading performance, the review indicates that the current facilities the company has in place to finance its operations are sufficient to allow the company to meet its liabilities as they fall due. However, the directors continue to closely monitor the company's cash position to ensure it will continue to operate within the terms of the existing facilities.
 
• The directors do not believe there to be any impairments arising as a result of the current economic outlook.
 
• To date, there has been no material impact on the company arising from the unpredictable global economy, and the directors continue to monitor the situation very closely.
Accordingly, the directors continue to adopt the going concern basis in preparing the financial statements.

 
2.3

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 rent consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. 

 
2.4

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.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
WHITE LEISURE PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
2.7

Investment property

Investment property is carried at fair value determined by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. The directors have decided to perform a valuation every 3-5 years instead of annually. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 5

 
WHITE LEISURE PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

The Company has elected to apply the recognition and measurement provisions of IFRS 9 Financial Instruments (as adopted by the UK Endorsement Board) with the disclosure requirements of Sections 11 and 12 and the other presentation requirements of FRS 102.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate
Page 6

 
WHITE LEISURE PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)


2.9
Financial instruments (continued)

method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees




The Company has no employees other than the directors, who did not receive any remuneration (2023: £NIL).


4.


Investment property


Freehold investment property

£



Valuation


At 1 May 2023
1,277,551



At 30 April 2024
1,277,551

The 2024 valuations were made by external valuers, on an open market value for existing use basis.






5.


Debtors

2024
2023
£
£


Trade debtors
16,920
5,416

Other debtors
39,383
29,252

56,303
34,668


Page 7

 
WHITE LEISURE PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
28,219
24,311

Corporation tax
14,319
7,401

Other creditors
704,927
681,269

Accruals and deferred income
8,869
11,481

756,334
724,462


The fixed rate bank loans are secured against the Woodhey property located in Formby and the Albert Road property located in Widnes.
 


7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
600,698
622,050


The fixed rate bank loans are secured against the Woodhey property located in Formby and the Widnes property. 
£178,791 (2023: £189,831)  is repayable in over 5 years, with the final repayment due in August 2041.


8.


Deferred taxation




2024


£






At beginning of year
(1,273)



At end of year
(1,273)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Fixed asset timing differences
(1,273)
(1,273)

(1,273)
(1,273)

Page 8

 
WHITE LEISURE PROPERTIES LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

9.


Related party transactions

Included in other creditors is an amount of £704,927 (2023: £681,269) due to White Leisure Limited, a related company by virtue of common ownership. The amount is interest free and repayable upon demand.
Included in other debtors is an amount of £34,101 (2023: £29,152) due to White Leisure Limited from the director of the company, Sir C White.


10.


Controlling party

Ms C White and Sir C White, the directors, are the ultimate controlling parties of the company through their equal ownership of the entire share capital of White Leisure Properties Limited.
 
Page 9