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REGISTERED NUMBER: 11640633 (England and Wales)









WHITAKER HOLDINGS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024






WHITAKER HOLDINGS LTD (REGISTERED NUMBER: 11640633)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WHITAKER HOLDINGS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: C Whitaker
M L Whitaker





REGISTERED OFFICE: 27 Mutley Plain
Plymouth
Devon
PL4 6JG





REGISTERED NUMBER: 11640633 (England and Wales)





ACCOUNTANTS: Mark Holt & Co Limited
Chartered Accountants
7 Sandy Court
Ashleigh Way
Langage Business Park
Plymouth
Devon
PL7 5JX

WHITAKER HOLDINGS LTD (REGISTERED NUMBER: 11640633)

BALANCE SHEET
30 JUNE 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 266,209 271,942
Investments 6 461,386 461,386
Investment property 7 528,008 483,202
1,255,603 1,216,530

CURRENT ASSETS
Debtors 8 274,925 186,996
Investments 9 45,126 54,353
Cash at bank 4,063 8,299
324,114 249,648
CREDITORS
Amounts falling due within one year 10 597,641 721,372
NET CURRENT LIABILITIES (273,527 ) (471,724 )
TOTAL ASSETS LESS CURRENT LIABILITIES 982,076 744,806

CREDITORS
Amounts falling due after more than one year 11 (544,950 ) (574,243 )

PROVISIONS FOR LIABILITIES (11,200 ) -
NET ASSETS 425,926 170,563

CAPITAL AND RESERVES
Called up share capital 2,941 2,941
Share premium 99,559 99,559
Retained earnings 323,426 68,063
425,926 170,563

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

WHITAKER HOLDINGS LTD (REGISTERED NUMBER: 11640633)

BALANCE SHEET - continued
30 JUNE 2024


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 14 February 2025 and were signed on its behalf by:





C Whitaker - Director


WHITAKER HOLDINGS LTD (REGISTERED NUMBER: 11640633)

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

1. STATUTORY INFORMATION

Whitaker Holdings 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.

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


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements
The financial statements contain information about Whitaker Holdings Ltd 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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Freehold Property - 50 Years Straight Line
Land - not depreciated
Fixtures and Fittings - 5 Years Straight Line

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Impairment of assets
At each reporting date tangible fixed assets and fixed asset investments are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If the estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in profit or loss.

If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately in profit or loss.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Creditors
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

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.


WHITAKER HOLDINGS LTD (REGISTERED NUMBER: 11640633)

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

3. ACCOUNTING POLICIES - continued
Taxation
Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using the tax rates and laws that have been enacted or substantively enacted by the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date, except as otherwise indicated.

Deferred tax assets are only 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. If and when all conditions for retaining tax allowances for the cost of a fixed asset have been met, the deferred tax is reversed.

Deferred tax is calculated 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.

The tax expense (income) is presented either in profit or loss, other comprehensive income or equity depending on the transaction that resulted in the tax expense (income).

Provisions for liabilities
Provisions are recognised when the Company has a present (legal or constructive) obligation as a result of a past event; it is probable that an outflow of resources will be required to settle the obligation; and the amount of the obligation can be estimated reliably.

The amount recognised as a provision is the best estimate of the consideration required to settle the present recognised as a provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period, taking into account the risks and uncertainties surrounding the obligation.

Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value using a pre-tax discount rate. The unwinding of the discount is recognised as a finance costs in profit or loss in the period it arises.

The Company recognises a provision for annual leave accrued by employees for services rendered in the current period, and which employees are entitled to carry forward and use within the next 12 months, measured at the salary costs payable for the period of absence.

Current asset investments
Current asset investments represent listed investments held. These are recorded at purchase cost and adjusted at year end for any increase or decrease in fair value through the profit and loss account.

Movements in value are treated as unrealised until the relevant asset has been disposed of, at which point any gain is then treated as realised and taxed.

Investments in subsidiaries
Investments in subsidiary undertakings are shown at cost, less reduction for any impairment identified. The directors review the investments for impairment on an annual basis.

4. EMPLOYEES AND DIRECTORS

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

WHITAKER HOLDINGS LTD (REGISTERED NUMBER: 11640633)

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

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST
At 1 July 2023
and 30 June 2024 276,802 985 277,787
DEPRECIATION
At 1 July 2023 5,536 309 5,845
Charge for year 5,536 197 5,733
At 30 June 2024 11,072 506 11,578
NET BOOK VALUE
At 30 June 2024 265,730 479 266,209
At 30 June 2023 271,266 676 271,942

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 July 2023
and 30 June 2024 461,386
NET BOOK VALUE
At 30 June 2024 461,386
At 30 June 2023 461,386

All these investments represent shares owned in 100% subsidiary companies.

During the previous year, the shares in one of the subsidiaries, Executive Lets (South West) Limited, were disposed of to shareholders of Whitaker Holdings Limited for £100. This created a loss on disposal of £481,306 which is included within overheads in the Profit and Loss Account in the previous year.

7. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023 483,202
Revaluations 44,806
At 30 June 2024 528,008
NET BOOK VALUE
At 30 June 2024 528,008
At 30 June 2023 483,202

The director's consider the value of the investment property annually and have processed an uplift in value this year following their review.

WHITAKER HOLDINGS LTD (REGISTERED NUMBER: 11640633)

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

7. INVESTMENT PROPERTY - continued

Fair value at 30 June 2024 is represented by:
£   
Valuation in 2024 44,806
Cost 483,202
528,008

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 274,925 186,996

9. CURRENT ASSET INVESTMENTS
2024 2023
£    £   
Listed investments 45,126 54,353

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 285
Amounts owed to group undertakings 545,249 669,167
Taxation and social security 9,000 6,000
Other creditors 43,392 45,920
597,641 721,372

11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 544,950 544,950
Other creditors - 29,293
544,950 574,243

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans > 5 yrs non
instalment 544,950 544,950
544,950 544,950

WHITAKER HOLDINGS LTD (REGISTERED NUMBER: 11640633)

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

12. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 544,950 544,950

The mortgages are secured over the freehold property and investment property. They also have a negative pledge and debenture in place.

There is also a floating charge and negative pledge in place over the assets of the company, in relation to bank loans in other group companies.

The deferred consideration in relation to the purchase of the shares in M & B Residential Lettings Limited is secured by way of a charge over the share capital of the company, with a fixed charge and negative pledge over the assets in M & B Residential Lettings Limited. The deferred consideration reported in other creditors due in less than one year is £29,293 (2023: £29,993) and in other creditors due in more than one year is £nil (2023: £29,293).

13. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the period end a director had an overdrawn loan account totalling £194,743 (2023: £144,844). During the period, advances were made of £214,255 (2023: £176,268), and repayments were made of £164,356 (2023: £69,448). Interest has been charged in line with HMRC guidance.