Registered number
05505914
Whitelaw Technology Limited
Unaudited Filleted Accounts
31 July 2024
Whitelaw Technology Limited
Registered number: 05505914
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 316,998 384,212
Current assets
Stocks 90,515 8,074
Debtors 4 38,447 58,394
Cash at bank and in hand 105,903 223,752
234,865 290,220
Creditors: amounts falling due within one year 5 (62,053) (100,087)
Net current assets 172,812 190,133
Total assets less current liabilities 489,810 574,345
Provisions for liabilities (54,472) (64,814)
Net assets 435,338 509,531
Capital and reserves
Called up share capital 2 2
Profit and loss account 435,336 509,529
Shareholders' funds 435,338 509,531
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr A W Whitelaw
Director
Approved by the board on 20 March 2025
Whitelaw Technology Limited
Notes to the Accounts
for the year ended 31 July 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings 10% straight line
Plant and machinery 15% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 5 6
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 August 2023 136,963 700,917 135,161 973,041
Additions - 6,793 - 6,793
Disposals - - (16,782) (16,782)
At 31 July 2024 136,963 707,710 118,379 963,052
Depreciation
At 1 August 2023 124,765 375,590 88,474 588,829
Charge for the year 12,198 48,799 11,228 72,225
On disposals - - (15,000) (15,000)
At 31 July 2024 136,963 424,389 84,702 646,054
Net book value
At 31 July 2024 - 283,321 33,677 316,998
At 31 July 2023 12,198 325,327 46,687 384,212
4 Debtors 2024 2023
£ £
Trade debtors 29,206 55,416
Other debtors 9,241 2,978
38,447 58,394
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 43,953 43,743
Taxation and social security costs 9,276 24,423
Other creditors 8,824 31,921
62,053 100,087
6 Other information
Whitelaw Technology Limited is a private company limited by shares and incorporated in England. Its registered office is:
Site 18 Telford Road
Durranhill Industrial Estate
Carlisle
Cumbria
CA1 3NW
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