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hewitts
Company registration number: 10192197
Whirlow Investments Limited
Unaudited filleted abridged financial statements
31 May 2024
11 Venture One Business Park, Long Acre Close, Sheffield, S20 3FR.Tel 0114 276 4440 Fax 0114 247 4492www.hewittsaccountants.co.ukenquiries@hewittsaccountants.co.uk
Whirlow Investments Limited
Contents
Directors and other information
Accountants report
Abridged statement of financial position
Statement of changes in equity
Notes to the financial statements
Whirlow Investments Limited
Directors and other information
Director Mr Nicholas Newton
Company number 10192197
Registered office 11 Venture One Busines Park
Long Acre Close
Sheffield
S20 3FR
Accountants Hewitts
Chartered Certified Accountants
11 Venture One Business Park
Long Acre Close
Sheffield
S20 3FR
Whirlow Investments Limited
Report to the director on the preparation of the
unaudited statutory financial statements of Whirlow Investments Limited
Year ended 31 May 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Whirlow Investments Limited for the year ended 31 May 2024 which comprise the abridged statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants , we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/en/member/ professional-standards/ rules-standards/acca-rulebook.html.
This report is made solely to the director of Whirlow Investments Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Whirlow Investments Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/content/dam/ACCA_Global /Technical/fact/technical-factsheet-163.pdf. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Whirlow Investments Limited and its director as a body for our work or for this report.
It is your duty to ensure that Whirlow Investments Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Whirlow Investments Limited. You consider that Whirlow Investments Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Whirlow Investments Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Hewitts
Chartered Certified Accountants
11 Venture One Business Park
Long Acre Close
Sheffield
S20 3FR
22 January 2025
Whirlow Investments Limited
Abridged statement of financial position
31 May 2024
2024 2023
Note £ £ £ £
Fixed assets
Investments 5 - 12,436
_______ _______
- 12,436
Current assets
Debtors 275,499 279,204
Cash at bank and in hand 12,121 396
_______ _______
287,620 279,600
Creditors: amounts falling due
within one year ( 600) ( 3,444)
_______ _______
Net current assets 287,020 276,156
_______ _______
Total assets less current liabilities 287,020 288,592
_______ _______
Net assets 287,020 288,592
_______ _______
Capital and reserves
Called up share capital 100 100
Other reserves - 909
Profit and loss account 286,920 287,583
_______ _______
Shareholder funds 287,020 288,592
_______ _______
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.
All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the current year ending 31 May 2024 in accordance with Section 444(2A) of the Companies Act 2006.
These financial statements were approved by the board of directors and authorised for issue on 22 January 2025 , and are signed on behalf of the board by:
Mr Nicholas Newton
Director
Company registration number: 10192197
Whirlow Investments Limited
Statement of changes in equity
Year ended 31 May 2024
Called up share capital Fair value reserve Profit and loss account Total
£ £ £ £
At 1 June 2022 100 49,941 236,263 286,304
(Loss)/profit for the year 51,320 51,320
Other comprehensive income for the year:
Fair value adjustment - ( 49,032) - ( 49,032)
_______ _______ _______ _______
Total comprehensive income for the year - ( 49,032) 51,320 2,288
_______ _______ _______ _______
At 31 May 2023 and 1 June 2023 100 909 287,583 288,592
(Loss)/profit for the year ( 663) ( 663)
Other comprehensive income for the year:
Fair value adjustment - ( 909) - ( 909)
_______ _______ _______ _______
Total comprehensive income for the year - ( 909) ( 663) ( 1,572)
_______ _______ _______ _______
At 31 May 2024 100 - 286,920 287,020
_______ _______ _______ _______
Whirlow Investments Limited
Notes to the financial statements
Year ended 31 May 2024
1. General information
The company is a private company limited by shares, registered in England. The address of the registered office is 11 Venture One Busines Park, Long Acre Close, Sheffield, S20 3FR.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and 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.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, 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.
Fixed asset investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses. Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
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 or 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. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Investments
£
Cost
At 1 June 2023 12,436
Disposals ( 11,527)
Fair value adjustment (909)
_______
At 31 May 2024 -
_______
Impairment
At 1 June 2023 and 31 May 2024 -
_______
Carrying amount
At 31 May 2024 -
_______
At 31 May 2023 12,436
_______
6. Directors advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mr Nicholas Newton 279,204 - ( 275,705) 3,499
_______ _______ _______ _______
2023
Balance brought forward Advances /(credits) to the director Amounts repaid Balance o/standing
£ £ £ £
Mr Nicholas Newton 47,000 240,000 ( 7,796) 279,204
_______ _______ _______ _______