1 false false false false true false false false false false false true true false false false false false 2024-01-01 Sage Accounts Production Advanced 2023 - FRS102_2023 146 13 xbrli:pure xbrli:shares iso4217:GBP 10307833 2024-01-01 2024-12-31 10307833 2024-12-31 10307833 2023-12-31 10307833 2023-01-01 2023-12-31 10307833 2023-12-31 10307833 2022-12-31 10307833 bus:RegisteredOffice 2024-01-01 2024-12-31 10307833 bus:OrdinaryShareClass1 2024-01-01 2024-12-31 10307833 bus:Director1 2024-01-01 2024-12-31 10307833 bus:Director2 2024-01-01 2024-12-31 10307833 core:WithinOneYear 2024-12-31 10307833 core:WithinOneYear 2023-12-31 10307833 core:UKTax 2024-01-01 2024-12-31 10307833 core:ShareCapital 2024-12-31 10307833 core:ShareCapital 2023-12-31 10307833 core:RetainedEarningsAccumulatedLosses 2024-12-31 10307833 core:RetainedEarningsAccumulatedLosses 2023-12-31 10307833 bus:SmallEntities 2024-01-01 2024-12-31 10307833 bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 10307833 bus:SmallCompaniesRegimeForDirectorsReport 2024-01-01 2024-12-31 10307833 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 10307833 bus:FullAccounts 2024-01-01 2024-12-31 10307833 bus:OrdinaryShareClass1 2024-12-31 10307833 bus:OrdinaryShareClass1 2023-12-31
COMPANY REGISTRATION NUMBER: 10307833
Whitefields Central Services Ltd
Unaudited Financial Statements
31 December 2024
Whitefields Central Services Ltd
Strategic Report
Year ended 31 December 2024
The company has two prime activities. Most years the activity generating the most turnover was payroll processing from calculation to disbursement. However, following the loss of the entire client list no payroll's were processed beyond August 2024. The secondary activity continued until the end of the 2024 year and this part of turnover has been more significant for the first time. The Board then decided to suspend further activities and the company has been dormant through 2025 to date.
This report was approved by the board of directors on 12 February 2025 and signed on behalf of the board by:
Mr GR Lee
Director
Registered office:
Whitefields
Daisy Lane
Mill Hill
Edenbridge
Kent
England
TN8 5DB
Whitefields Central Services Ltd
Directors' Report
Year ended 31 December 2024
The directors present their report and the unaudited financial statements of the company for the year ended 31 December 2024 .
Directors
The directors who served the company during the year were as follows:
Mr GR Lee
Whitefields Group Ltd
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on 12 February 2025 and signed on behalf of the board by:
Mr GR Lee
Director
Registered office:
Whitefields
Daisy Lane
Mill Hill
Edenbridge
Kent
England
TN8 5DB
Whitefields Central Services Ltd
Statement of Income and Retained Earnings
Year ended 31 December 2024
2024
2023
Note
£
£
Turnover
4
5,756
2,945
Cost of sales
4,684
1,998
-------
-------
Gross profit
1,072
947
Administrative expenses
933
940
-------
----
Operating profit
139
7
Other interest receivable and similar income
6
17
6
-------
----
Profit before taxation
156
13
Tax on profit
7
10
----
----
Profit for the financial year and total comprehensive income
146
13
----
----
All the activities of the company are from continuing operations.
Whitefields Central Services Ltd
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
Current assets
Debtors
8
2,262
77
Cash at bank and in hand
2,014
-------
-------
2,262
2,091
Creditors: amounts falling due within one year
9
209
184
-------
-------
Net current assets
2,053
1,907
-------
-------
Total assets less current liabilities
2,053
1,907
-------
-------
Capital and reserves
Called up share capital
10
2,000
2,000
Profit and loss account
53
( 93)
-------
-------
Shareholder funds
2,053
1,907
-------
-------
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of directors and authorised for issue on 12 February 2025 , and are signed on behalf of the board by:
Mr GR Lee
Director
Company registration number: 10307833
Whitefields Central Services Ltd
Statement of Cash Flows
Year ended 31 December 2024
2024
2023
£
£
Cash flows from operating activities
Profit for the financial year
146
13
Adjustments for:
Other interest receivable and similar income
( 17)
( 6)
Tax on profit
10
Changes in:
Trade and other debtors
( 2,185)
278
Trade and other creditors
( 184)
179
-------
----
Cash generated from operations
( 2,230)
464
Interest received
17
6
-------
----
Net cash (used in)/from operating activities
( 2,213)
470
-------
----
Cash flows from financing activities
Proceeds from loans from group undertakings
199
( 343)
-------
----
Net cash from/(used in) financing activities
199
( 343)
-------
----
Net (decrease)/increase in cash and cash equivalents
( 2,014)
127
Cash and cash equivalents at beginning of year
2,014
1,887
-------
-------
Cash and cash equivalents at end of year
2,014
-------
-------
Whitefields Central Services Ltd
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Whitefields, Daisy Lane, Mill Hill, Edenbridge, Kent, TN8 5DB, England.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances .
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that it is probable the expenses recognised will be recovered.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Turnover
Turnover arises from:
2024
2023
£
£
Sale of goods
2,901
773
Rendering of services
2,855
2,172
-------
-------
5,756
2,945
-------
-------
The whole of the turnover is attributable to the principal activity of the company wholly undertaken in the United Kingdom.
5. Employee numbers and staff costs
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
The company paid no remuneration to this employee (2020:Nil).
6. Other interest receivable and similar income
2024
2023
£
£
Interest on bank deposits
17
6
----
----
7. Tax on profit
Major components of tax expense
2024
2023
£
£
Current tax:
UK current tax expense
10
----
----
Tax on profit
10
----
----
Reconciliation of tax expense
The tax assessed on the profit on ordinary activities for the year is lower than (2023: the same as) the standard rate of corporation tax in the UK of 19 % (2023: 19 %).
2024
2023
£
£
Profit on ordinary activities before taxation
156
13
----
----
Profit on ordinary activities by rate of tax
30
Utilisation of tax losses
( 20)
----
----
Tax on profit
10
----
----
8. Debtors
2024
2023
£
£
Amounts owed by group undertakings
2,262
Prepayments and accrued income
77
-------
----
2,262
77
-------
----
9. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
5
Amounts owed to group undertakings
199
Corporation tax
10
Social security and other taxes
179
----
----
209
184
----
----
10. Called up share capital
Issued, called up and fully paid
2024
2023
No.
£
No.
£
Ordinary shares of £ 1 each
2,000
2,000
2,000
2,000
-------
-------
-------
-------
11. Analysis of changes in net debt
At 1 Jan 2024
Cash flows
At 31 Dec 2024
£
£
£
Cash at bank and in hand
2,014
(2,014)
Debt due within one year
(199)
(199)
-------
-------
----
2,014
( 2,213)
( 199)
-------
-------
----
12. Ultimate controlling party
The company is a wholly owned subsidiary of Whitefields Group Ltd .
The ultimate controlling party is Mr G R Lee who is the sole shareholder in Whitefields Group Ltd.