Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-312023-04-01false1trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.trueNo description of principal activity1false 14005680 2023-04-01 2024-03-31 14005680 2022-03-28 2023-03-31 14005680 2024-03-31 14005680 2023-03-31 14005680 c:Director1 2023-04-01 2024-03-31 14005680 d:LeaseholdInvestmentProperty 2023-04-01 2024-03-31 14005680 d:LeaseholdInvestmentProperty 2024-03-31 14005680 d:CurrentFinancialInstruments 2024-03-31 14005680 d:CurrentFinancialInstruments 2023-03-31 14005680 d:Non-currentFinancialInstruments 2024-03-31 14005680 d:Non-currentFinancialInstruments 2023-03-31 14005680 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 14005680 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 14005680 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 14005680 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 14005680 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 14005680 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 14005680 d:ShareCapital 2024-03-31 14005680 d:ShareCapital 2023-03-31 14005680 d:RetainedEarningsAccumulatedLosses 2024-03-31 14005680 d:RetainedEarningsAccumulatedLosses 2023-03-31 14005680 c:FRS102 2023-04-01 2024-03-31 14005680 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 14005680 c:FullAccounts 2023-04-01 2024-03-31 14005680 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 14005680 2 2023-04-01 2024-03-31 14005680 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:pure

Registered number: 14005680









WHALE NO1 LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
WHALE NO1 LIMITED
REGISTERED NUMBER: 14005680

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
7,803,450
-

  
7,803,450
-

Current assets
  

Debtors: amounts falling due within one year
 5 
50,766
-

Cash at bank and in hand
 6 
87,801
100

  
138,567
100

Creditors: amounts falling due within one year
 7 
(4,696,225)
-

Net current (liabilities)/assets
  
 
 
(4,557,658)
 
 
100

Total assets less current liabilities
  
3,245,792
100

Creditors: amounts falling due after more than one year
 8 
(3,300,000)
-

  

Net (liabilities)/assets
  
(54,208)
100


Capital and reserves
  

Called up share capital 
  
100
100

Profit and loss account
  
(54,308)
-

  
(54,208)
100


Page 1

 
WHALE NO1 LIMITED
REGISTERED NUMBER: 14005680
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 18 March 2025.




................................................
Hongyu Liu
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
WHALE NO1 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Whale No1 Limited is a private company limited by shares and registered in England and Wales. The
address of the registered office is 124 Finchley Road, London, NW3 5JS. The Company was incorporated
on 28 March 2022 and commenced to trade on 1 April 2023.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The following principal accounting policies have been applied:

 
2.2

Going concern

The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

 
2.3

Revenue

Revenue comprises turnover recognised by the Company in respect of rental income receivable during the year with amounts recognised in accordance with the underlying contractual arrangementon a straight line basis over the term of occupancy and is measured at the fair value of the consideration receivable.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.5

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.6

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.7

Investment property

On initial recognition, investment properties are recognised at cost and subsequently held at such.                                   
No fair value revaluation is accounted for against said investment properties on the grounds that the director is of the opinion that the fair value of those investment properties held does not materially differ from its historical cost.

Page 3

 
WHALE NO1 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.8

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.

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

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.


3.


Employees

The average monthly number of employees, including director, during the period was 1.





Page 4

 
WHALE NO1 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Investment properties


Long term leasehold investment properties

£



Valuation


Additions at cost
7,803,450



At 31 March 2024
7,803,450

The 2024 valuations were made by director, on an open market value for existing use basis.







Page 5

 
WHALE NO1 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Debtors

2024
2023
£
£


Other debtors
28,285
-

Prepayments and accrued income
22,481
-

50,766
-



6.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
87,801
100

87,801
100



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other creditors
4,563,833
-

Accruals and deferred income
132,392
-

4,696,225
-



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
3,300,000
-

3,300,000
-


During the year the company obtained a new loan of £3.3m on an interest only basis, repayable in five years. The bank loans are secured by a fixed charge over the investment properties.

Page 6

 
WHALE NO1 LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£



Amounts falling due 2-5 years

Bank loans
3,300,000
-


3,300,000
-


3,300,000
-



10.


Related party transactions

There is a non-interest bearing loan of £4,563,833 (2023: £Nil) due to ultimate beneficial owner, Mr Hongyu LIU.


11.


Controlling party

The ultimate controlling party during the period was Mr Hongyu LIU.

 
Page 7