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COMPANY REGISTRATION NUMBER: 03643300
Whitstable Properties Limited
Filleted Unaudited Financial Statements
31 October 2024
Whitstable Properties Limited
Financial Statements
Year ended 31 October 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Whitstable Properties Limited
Statement of Financial Position
31 October 2024
2024
2023
Note
£
£
£
Current assets
Stocks
720,077
720,077
Debtors
5
65
229
Cash at bank and in hand
82
308
---------
---------
720,224
720,614
Creditors: amounts falling due within one year
6
95,151
96,240
---------
---------
Net current assets
625,073
624,374
---------
---------
Total assets less current liabilities
625,073
624,374
Creditors: amounts falling due after more than one year
7
959,963
952,207
---------
---------
Net liabilities
( 334,890)
( 327,833)
---------
---------
Capital and reserves
Called up share capital
90
90
Profit and loss account
( 334,980)
( 327,923)
---------
---------
Shareholders deficit
( 334,890)
( 327,833)
---------
---------
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 statement of income and retained earnings has not been delivered.
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have 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 .
Whitstable Properties Limited
Statement of Financial Position (continued)
31 October 2024
These financial statements were approved by the board of directors and authorised for issue on 27 February 2025 , and are signed on behalf of the board by:
Mrs J F Marsh
Director
Company registration number: 03643300
Whitstable Properties Limited
Notes to the Financial Statements
Year ended 31 October 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 226 Lyndhurst Avenue, Twickenham, TW2 6BS, United Kingdom.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of 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.
Going concern
The accounts have been prepared on a going concern basis due to the director's belief that the property will make significantly more than the stock value. Creditors have agreed to have liabilities repaid with realisation of property.
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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with stated interest rate and receivable of payable within one year arerecorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
4. Employee numbers
The average number of persons employed by the company during the year, excluding the directors, amounted to 0.
5. Debtors
2024
2023
£
£
Other debtors
65
229
----
----
6. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
94,122
95,245
Other creditors
1,029
995
--------
--------
95,151
96,240
--------
--------
7. Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
959,963
952,207
---------
---------
8. Related party transactions
At the year end the company owed the Directors £652,372 (2023: £645,114). At the year end, the company owes £307,591 (2023: £307,093) to a company which is associated by common key management.