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REGISTERED NUMBER: 12601861 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 May 2024

for

WHITESQUARE INVESTMENTS LTD

WHITESQUARE INVESTMENTS LTD (REGISTERED NUMBER: 12601861)

Contents of the Financial Statements
for the year ended 31 May 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


WHITESQUARE INVESTMENTS LTD

Company Information
for the year ended 31 May 2024







Director: M D Smith





Secretary: M D Smith





Registered office: New Derwent House
69-73 Theobalds Road
London
WC1X 8TA





Registered number: 12601861 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

WHITESQUARE INVESTMENTS LTD (REGISTERED NUMBER: 12601861)

Balance Sheet
31 May 2024

2024 2023
Notes £    £   
Current assets
Stocks - 1,458,114
Debtors 4 918,722 13,668
Cash at bank 211,935 16,364
1,130,657 1,488,146
Creditors
Amounts falling due within one year 5 230,083 1,541,637
Net current assets/(liabilities) 900,574 (53,491 )
Total assets less current liabilities 900,574 (53,491 )

Capital and reserves
Called up share capital 6 1 1
Retained earnings 900,573 (53,492 )
Shareholders' funds 900,574 (53,491 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 February 2025 and were signed by:





M D Smith - Director


WHITESQUARE INVESTMENTS LTD (REGISTERED NUMBER: 12601861)

Notes to the Financial Statements
for the year ended 31 May 2024


1. Statutory information

Whitesquare Investments 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. 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.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is as accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed of.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is 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.

WHITESQUARE INVESTMENTS LTD (REGISTERED NUMBER: 12601861)

Notes to the Financial Statements - continued
for the year ended 31 May 2024


2. Accounting policies - continued

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

Going concern
The financial statements have been prepared on the going concern basis. The director has reviewed the company's cashflows over the next twelve months from the date of signing the financial statements and considers that, based on the support that is likely to be available, the company will be able to meet its debts as and when they fall due.

3. Employees and directors

The average number of employees during the year was 1 (2023 - 1 ) .

4. Debtors: amounts falling due within one year
2024 2023
£    £   
Amounts owed by associates 918,721 13,668
Other debtors 1 -
918,722 13,668

5. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors 245 47,837
Amounts owed to associates 76,166 1,000,625
Taxation and social security 144,561 90,932
Other creditors 9,111 402,243
230,083 1,541,637

6. Called up share capital

Allotted and issued:
Number: Class: Nominal 2024 2023
value: £    £   
1 Called up share capital £1 1 1

WHITESQUARE INVESTMENTS LTD (REGISTERED NUMBER: 12601861)

Notes to the Financial Statements - continued
for the year ended 31 May 2024


7. Related party disclosures

As at 31 May 2024, a total amount of £918,721 (2023: £13,668) is due from companies related by virtue of common ownership.

As at 31 May 2024, a total amount of £76,166 (2023: £1,000,625) is due to companies related by virtue of common ownership. All the companies are connected by virtue of having M Smith as a common director.

8. Controlling party

The company is under the control of Michael Smith by virtue of his 100% shareholding.