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REGISTERED NUMBER: NI009396 (Northern Ireland)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

WHITECLIFF HOLDINGS LIMITED

WHITECLIFF HOLDINGS LIMITED (REGISTERED NUMBER: NI009396)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 7


WHITECLIFF HOLDINGS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTORS: C Donnelly
J I Donnelly
N Donnelly



REGISTERED OFFICE: Whitecliff Inn Chester Avenue
Whitehead
Carrickfergus
BT38 9QQ



REGISTERED NUMBER: NI009396 (Northern Ireland)



ACCOUNTANTS: Baker Tilly Mooney Moore
Chartered Certified Accountants
17 Clarendon Road
Clarendon Dock
Belfast
BT1 3BG



BANKERS: First Trust Bank
31 - 35 High Street
Belfast
Co. Antrim
BT1 2AL



SOLICITORS: Agnew Andress Higgins
92 High Street
Belfast
BT1 2AL

WHITECLIFF HOLDINGS LIMITED (REGISTERED NUMBER: NI009396)

BALANCE SHEET
30 APRIL 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 42,958 46,815
Investments 5 576,808 1,474,340
Investment property 6 55,378 55,378
675,144 1,576,533

CURRENT ASSETS
Stocks 19,015 19,015
Debtors 7 31,120 30,969
Cash at bank and in hand 617,145 52,020
667,280 102,004
CREDITORS
Amounts falling due within one year 8 117,046 192,262
NET CURRENT ASSETS/(LIABILITIES) 550,234 (90,258 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,225,378

1,486,275

CAPITAL AND RESERVES
Called up share capital 80 80
Capital redemption reserve 20 20
Retained earnings 1,225,278 1,486,175
SHAREHOLDERS' FUNDS 1,225,378 1,486,275

WHITECLIFF HOLDINGS LIMITED (REGISTERED NUMBER: NI009396)

BALANCE SHEET - continued
30 APRIL 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps 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 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.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 January 2025 and were signed on its behalf by:





J I Donnelly - Director


WHITECLIFF HOLDINGS LIMITED (REGISTERED NUMBER: NI009396)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

Whitecliff Holdings Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Preparation of consolidated financial statements
The financial statements contain information about Whitecliff Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Significant judgements and estimates
In preparing these financial statements the directors have made the following judgements:

Establish whether there are indicators of impairment of the company's tangible assets, investment property and investments. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and the business in general.

The directors also consider the depreciation rates on an annual basis to ensure there is sufficient evidence to support these and that the estimates remains reasonable.

Turnover
Turnover represents the total amount of sales stated net of value added tax.


Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Fixtures, fittings & equipment - 20% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

WHITECLIFF HOLDINGS LIMITED (REGISTERED NUMBER: NI009396)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


2. ACCOUNTING POLICIES - continued

Stocks
Stocks are stated at the lower of cost and net realisable value as follows:

Goods for resale Purchase cost on a first-in-first-out basis

Net realisable value is based on selling price.


Financial instruments
All financial instruments of the company are considered to meet the definition of basic financial instruments.

- Short term debtors and creditors
Debtors and creditors with no stated interest rate and are receivable or payable on demand are recognised at transaction price, and subject to annual impairment reviews. Any losses arising on impairment are recognised in the profit and loss account.

- Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and in hand.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investments
Investments in unlisted shares and the subsidiary company are measured at cost less accumulated impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 14 ) .

WHITECLIFF HOLDINGS LIMITED (REGISTERED NUMBER: NI009396)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


4. TANGIBLE FIXED ASSETS
Fixtures,
Freehold fittings
property & equipment Totals
£    £    £   
COST
At 1 May 2023
and 30 April 2024 124,233 113,120 237,353
DEPRECIATION
At 1 May 2023 81,544 108,994 190,538
Charge for year 2,485 1,372 3,857
At 30 April 2024 84,029 110,366 194,395
NET BOOK VALUE
At 30 April 2024 40,204 2,754 42,958
At 30 April 2023 42,689 4,126 46,815

5. FIXED ASSET INVESTMENTS
Shares in
connected Other
undertakings investments Totals
£    £    £   
COST OR VALUATION
At 1 May 2023 182,540 1,291,800 1,474,340
Disposals - (291,800 ) (291,800 )
Revaluations - (605,732 ) (605,732 )
At 30 April 2024 182,540 394,268 576,808
NET BOOK VALUE
At 30 April 2024 182,540 394,268 576,808
At 30 April 2023 182,540 1,291,800 1,474,340

Cost or valuation at 30 April 2024 is represented by:

Shares in
connected Other
undertakings investments Totals
£    £    £   
Valuation in 2024 - 394,268 394,268
Cost 182,540 - 182,540
182,540 394,268 576,808

WHITECLIFF HOLDINGS LIMITED (REGISTERED NUMBER: NI009396)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 55,378
NET BOOK VALUE
At 30 April 2024 55,378
At 30 April 2023 55,378

The directors consider there to be no change in the investment property value in the year under review.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Other debtors 31,120 30,969

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Bank loans and overdrafts 29,808 39,167
Trade creditors (2,094 ) 56,365
Amounts owed to group undertakings 2,122 64,282
Taxation and social security 74,935 17,182
Other creditors 12,275 15,266
117,046 192,262

9. ULTIMATE CONTROLLING PARTY

The controlling party is J I Donnelly.