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REGISTERED NUMBER: 13560654 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024

FOR

WHITING PROPERTIES LTD

WHITING PROPERTIES LTD (REGISTERED NUMBER: 13560654)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WHITING PROPERTIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2024







DIRECTORS: Mr K D Whiting
Miss H D Whiting





REGISTERED OFFICE: Unit 2.02
High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES





REGISTERED NUMBER: 13560654 (England and Wales)





ACCOUNTANTS: Acuity Professional Partnership LLP
Unit 2.02
High Weald House
Glovers End
Bexhill
East Sussex
TN39 5ES

WHITING PROPERTIES LTD (REGISTERED NUMBER: 13560654)

BALANCE SHEET
31 AUGUST 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 150,000 150,000

CURRENT ASSETS
Cash at bank 2,124 1,819

CREDITORS
Amounts falling due within one year 5 2,650 1,735
NET CURRENT (LIABILITIES)/ASSETS (526 ) 84
TOTAL ASSETS LESS CURRENT
LIABILITIES

149,474

150,084

CREDITORS
Amounts falling due after more than one
year

6

(114,495

)

(114,495

)

PROVISIONS FOR LIABILITIES 7 (11,728 ) (11,728 )
NET ASSETS 23,251 23,861

CAPITAL AND RESERVES
Called up share capital 8 100 100
Special reserve 9 35,184 35,184
Retained earnings 9 (12,033 ) (11,423 )
SHAREHOLDERS' FUNDS 23,251 23,861

WHITING PROPERTIES LTD (REGISTERED NUMBER: 13560654)

BALANCE SHEET - continued
31 AUGUST 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 13 February 2025 and were signed on its behalf by:





Mr K D Whiting - Director


WHITING PROPERTIES LTD (REGISTERED NUMBER: 13560654)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024


1. STATUTORY INFORMATION

Whiting Properties Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

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.

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.

GOING CONCERN
The company's balance sheet shows a net deficit shareholders fund position. However, the director's have received confirmation from the shareholders of their continued financial support for the foreseeable future and for at least twelve months from the date of signature of these accounts.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

WHITING PROPERTIES LTD (REGISTERED NUMBER: 13560654)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


4. INVESTMENT PROPERTY
Total
£   
Fair value
At 1 September 2023
and 31 August 2024 150,000
Net book value
At 31 August 2024 150,000
At 31 August 2023 150,000

Fair value at 31 August 2024 is represented by:
£   
Valuation in 2023 46,911
Cost 103,089
150,000

Investment property was valued as on 31 August 2022 by the directors.

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Other creditors 2,650 1,735

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.8.24 31.8.23
£    £   
Bank loans 114,495 114,495

7. PROVISIONS FOR LIABILITIES
31.8.24 31.8.23
£    £   
Deferred tax 11,728 11,728

Deferred
tax
£   
Balance at 1 September 2023 11,728
Balance at 31 August 2024 11,728

WHITING PROPERTIES LTD (REGISTERED NUMBER: 13560654)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2024


8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.8.24 31.8.23
value: £    £   
50 Ordinary £1 50 50
25 A Ordinary £1 25 25
25 B Ordinary £1 25 25
100 100

9. RESERVES

SPECIAL RESERVE
The special reserves comprise the balance of revaluations relating to the investment property net of deferred tax on the gain. This reserve is non-distributable.

PROFIT AND LOSS ACCOUNTS
The profit and loss account comprise the balance of profits accumulated over the life of the company. This reserve is distributable.