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Registration number: 13805738

Whitchurch Developments (Hereford) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 April 2024

 

Whitchurch Developments (Hereford) Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Whitchurch Developments (Hereford) Limited

Company Information

Directors

Mrs B A Tobin

Mr G Tobin

Company secretary

Mrs B A Tobin

Registered office

St Ethelbert House
Ryelands Street
Hereford
Herefordshire
HR4 0LA

Accountants

Young & Co
St Ethelbert House
Ryelands Street
Hereford
Herefordshire
HR4 0LA

 

Whitchurch Developments (Hereford) Limited

(Registration number: 13805738)
Balance Sheet as at 30 April 2024

Note

2024
£

2023
£

Current assets

 

Stocks

4

508,610

487,076

Debtors

5

8,182

14,746

Cash at bank and in hand

 

-

1,593

 

516,792

503,415

Creditors: Amounts falling due within one year

6

(531,552)

(177,845)

Total assets less current liabilities

 

(14,760)

325,570

Creditors: Amounts falling due after more than one year

6

-

(344,712)

Net liabilities

 

(14,760)

(19,142)

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

(14,860)

(19,242)

Shareholders' deficit

 

(14,760)

(19,142)

For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Whitchurch Developments (Hereford) Limited

(Registration number: 13805738)
Balance Sheet as at 30 April 2024
(continued)

Approved and authorised by the Board on 13 January 2025 and signed on its behalf by:
 

.........................................
Mrs B A Tobin
Company secretary and director

 

Whitchurch Developments (Hereford) Limited

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:
St Ethelbert House
Ryelands Street
Hereford
Herefordshire
HR4 0LA
England

The principal place of business is:
Stonehaven
Church Farm Barns
Wellington
Hereford
HR4 8AZ

These financial statements were authorised for issue by the Board on 13 January 2025.

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.

 

Whitchurch Developments (Hereford) Limited

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

2

Accounting policies (continued)

Going concern

The financial statements show a deficit on net assets. This has arisen from losses incurred during the initial period of trading whilst the company was developing its business. The losses were anticipated during this phase of the businesses development and have been funded by loans from shareholders. The shareholders have indicated that they will continue to provide financial support to the company to enable it to continue trading for the foreseeable future. On this basis, the directors consider it appropriate to prepare the financial statements on the going concern basis. The financial statements do not include any adjustments that would result from the going concern basis being no longer appropriate.

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.

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.

 

Whitchurch Developments (Hereford) Limited

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

2

Accounting policies (continued)

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

 

Whitchurch Developments (Hereford) Limited

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

2

Accounting policies (continued)

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 1 (2023 - 1).

4

Stocks

2024
£

2023
£

Other inventories

508,610

487,076

5

Debtors

Current

Note

2024
£

2023
£

Amounts owed by related parties

9

1,585

-

Other debtors

 

6,597

14,746

   

8,182

14,746

 

Whitchurch Developments (Hereford) Limited

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

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

344,993

-

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

9

176,188

134,452

Taxation and social security

 

5,848

2,850

Accruals and deferred income

 

1,159

12,953

Other creditors

 

3,364

27,590

 

531,552

177,845

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

-

344,712

Creditors include bank loans of £Nil (2023 - £344,712) which are secured by a debenture over all the company's assets and undertakings.

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       
 

Whitchurch Developments (Hereford) Limited

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

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

-

344,712

Current loans and borrowings

2024
£

2023
£

Bank borrowings

342,354

-

Bank overdrafts

2,639

-

344,993

-

9

Related party transactions

Loans to related parties

2024

Parent
£

Total
£

At start of period

134,452

134,452

Advanced

62,000

62,000

Repaid

(20,264)

(20,264)

At end of period

176,188

176,188

 

Whitchurch Developments (Hereford) Limited

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

9

Related party transactions (continued)

2023

Parent
£

Total
£

At start of period

(100)

(100)

Advanced

413,479

413,479

Repaid

(278,927)

(278,927)

At end of period

134,452

134,452

10

Parent and ultimate parent undertaking

The company's immediate parent is Kings Acre Developments (Hereford) Limited, incorporated in England and Wales.

 The ultimate parent is Riverside Construction (Hereford) Limited, incorporated in England and Wales.