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REGISTERED NUMBER: 01481752 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 30 June 2024

for

Whitley Estates Limited

Whitley Estates Limited (Registered number: 01481752)






Contents of the Financial Statements
for the year ended 30 June 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Whitley Estates Limited

Company Information
for the year ended 30 June 2024







DIRECTORS: W B Whitley
W P Whitley
E B Whitley
R G Whitley



REGISTERED OFFICE: Park House
Broncoed Business Park
Wrexham Road
Mold
Flintshire
CH7 1FQ



REGISTERED NUMBER: 01481752 (England and Wales)



ACCOUNTANTS: Bennett Brooks & Co Ltd
Chartered Accountants
Suite 1, First Floor
Coachworks Arcade
Northgate Street
Chester
Cheshire
CH1 2EY



BANKERS: Barclays Bank plc
Flint Business Centre
North East Wales Group of Branches
PO Box 1330
Flintshire
CH6 5WJ



SOLICITORS: Hill Dickinson
1 St Paul's Square
Liverpool
L3 9SJ

Whitley Estates Limited (Registered number: 01481752)

Balance Sheet
30 June 2024

2024 2023
Notes £ £
FIXED ASSETS
Investment property 4 12,789,418 13,712,529

CURRENT ASSETS
Debtors 5 273,328 289,034
Cash at bank 4,107,797 3,732,543
4,381,125 4,021,577
CREDITORS
Amounts falling due within one year 6 (583,954 ) (1,052,475 )
NET CURRENT ASSETS 3,797,171 2,969,102
TOTAL ASSETS LESS CURRENT
LIABILITIES

16,586,589

16,681,631

CREDITORS
Amounts falling due after more than one year 7 (3,467,197 ) (4,240,629 )

PROVISIONS FOR LIABILITIES (875,584 ) (923,648 )
NET ASSETS 12,243,808 11,517,354

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Revaluation reserve 8 6,807,248 7,298,700
Retained earnings 5,426,560 4,208,654
SHAREHOLDERS' FUNDS 12,243,808 11,517,354

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.

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 4 March 2025 and were signed on its behalf by:





W B Whitley - Director


Whitley Estates Limited (Registered number: 01481752)

Notes to the Financial Statements
for the year ended 30 June 2024

1. STATUTORY INFORMATION

Whitley Estates Limited 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.

Turnover
Turnover comprises of rental and related income receivable in the period excluding the reimbursement of utility bills by tenants.

Investment property
Investment properties are initially measured at cost plus costs directly attributable to the acquisition. Subsequent measurement is with reference to fair value with any increases credited to the income statement and transferred to a non-distributable reserve. Any diminution in fair value, below that of amounts already credited to this reserve, are charged to the income statement. Any increases in property values which were previously charged to the income statement are credited from the income statement to the extent that the original charge is reversed.

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.

Share capital
Ordinary shares are classed as equity.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account.

Cash and cash equivalents
Cash and cash equivalents includes cash in hand, cash held with banks and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

Whitley Estates Limited (Registered number: 01481752)

Notes to the Financial Statements - continued
for the year ended 30 June 2024

4. INVESTMENT PROPERTY
Total
£
FAIR VALUE
At 1 July 2023 13,712,529
Disposals (923,111 )
At 30 June 2024 12,789,418
NET BOOK VALUE
At 30 June 2024 12,789,418
At 30 June 2023 13,712,529

The company's investment properties are reported at a fair value at 30th June 2017.

If the properties were sold at their revalued amounts the company would incur a capital gains tax liability of £875,584 current tax rates.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 122,034 201,225
Prepayments & accrued income 151,294 87,809
273,328 289,034

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 4,891 10,007
Tax 158,830 151,432
Accruals & deferred income - 500,000
Accrued expenses 420,233 391,036
583,954 1,052,475

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£ £
Amounts owed to group undertakings 3,467,197 4,240,629

8. RESERVES
Revaluation
reserve
£
At 1 July 2023 7,298,700
Transfer (491,452 )

At 30 June 2024 6,807,248

9. RELATED PARTY DISCLOSURES

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.

Whitley Estates Limited (Registered number: 01481752)

Notes to the Financial Statements - continued
for the year ended 30 June 2024

10. PARENT COMPANY

The company is a 100% subsidiary of F G Whitley & Sons Co Limited. The registered office of the parent is the same as Whitley Estates Ltd which can be found on the Company Information page.