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Registered number: 13502482
















WHITEBOX CONSTRUCTION MANAGEMENT LIMITED




FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 31 MARCH 2024


































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WHITEBOX CONSTRUCTION MANAGEMENT LIMITED
REGISTERED NUMBER:13502482

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

31 March
Unaudited 30 November
2024
2022
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
99,052
138,668

Cash at bank and in hand
  
56,184
2,482

  
155,236
141,150

Creditors: amounts falling due within one year
 6 
(154,538)
(197,447)

Net current assets/(liabilities)
  
 
 
698
 
 
(56,297)

Total assets less current liabilities
  
698
(56,297)

  

Net assets/(liabilities)
  
698
(56,297)


Capital and reserves
  

Called up share capital 
  
1
1

Profit and loss account
  
697
(56,298)

  
698
(56,297)


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 statement of income and retained earnings 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 by: 





S E Wilkinson
Director

Date: 27 March 2025

The notes on pages 4 to 8 form part of these financial statements.
Page 1


WHITEBOX CONSTRUCTION MANAGEMENT LIMITED


STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 MARCH 2024


Called up share capital
Profit and loss account
Total equity

£
£
£

At 1 December 2022
1
(56,298)
(56,297)


Comprehensive income for the period

Profit for the period

-
56,995
56,995


Other comprehensive income for the period
-
-
-


Total comprehensive income for the period
-
56,995
56,995


Total transactions with owners
-
-
-


At 31 March 2024
1
697
698


The notes on pages 4 to 8 form part of these financial statements.

Page 2


WHITEBOX CONSTRUCTION MANAGEMENT LIMITED


STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 30 NOVEMBER 2022


Called up share capital
Profit and loss account
Total equity

£
£
£


Comprehensive income for the period

Loss for the period

-
(56,298)
(56,298)


Other comprehensive income for the period
-
-
-


Total comprehensive income for the period
-
(56,298)
(56,298)


Contributions by and distributions to owners

Shares issued during the period
1
-
1


Total transactions with owners
1
-
1


At 30 November 2022
1
(56,298)
(56,297)


The notes on pages 4 to 8 form part of these financial statements.

Page 3


WHITEBOX CONSTRUCTION MANAGEMENT LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

1.


General information

Whitebox Construction Management Limited (the Company) is a private company, limited by shares, registered in England and Wales (registered number: 13502482). The registered office is Ada House, Pynes Hill, Exeter, England, EX2 5AZ.

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 Directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The Directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Page 4


WHITEBOX CONSTRUCTION MANAGEMENT LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


 
2.6

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.

 
2.7

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.

 
2.8

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.

 
2.9

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 5


WHITEBOX CONSTRUCTION MANAGEMENT LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.10

Financial instruments

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees




The average monthly number of employees, including the directors, during the period was as follows:


     Period ended
       31 March
Unaudited Period ended
      30 November
        2024
        2022
            No.
            No.







Employees
2
2
Page 6


WHITEBOX CONSTRUCTION MANAGEMENT LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

4.


Debtors

31 March
Unaudited 30 November
2024
2022
£
£


Trade debtors
76,088
71,155

Other debtors
2,095
25,837

Prepayments and accrued income
20,869
24,850

Deferred taxation
-
16,826

99,052
138,668



5.


Cash and cash equivalents

31 March
Unaudited 30 November
2024
2022
£
£

Cash at bank and in hand
56,184
2,482

56,184
2,482



6.


Creditors: AMOUNTS FALLING DUE WITHIN ONE YEAR

31 March
Unaudited 30 November
2024
2022
£
£

Trade creditors
62,155
64,057

Corporation tax
393
-

Other creditors
91,118
-

Accruals and deferred income
872
133,390

154,538
197,447


Page 7


WHITEBOX CONSTRUCTION MANAGEMENT LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024

7.


Deferred taxation






2024


£







AT END OF YEAR
-

The deferred tax asset is made up as follows:

31 March
Unaudited 30 November
2024
2022
£
£


Losses and other deductions
-
16,826

-
16,826

8.


Related party transactions

Ward Williams Associates LLP was a 100% shareholder of the company up to 28th March 2024.
During the period, the company made sales to Ward Williams Associates LLP of £79,944 (2022: £29,162), incurred purchases of £536,876 (2022: £275,147) and management charges of £142,013 (2022: £91,118).
At the balance sheet date the company owed Ward Williams Associates LLP £153,273 (2022: £180,928) which is included under creditors due within one year and was owed £73,703 which is included under trade debtors (2022: £17,787 which is included under other debtors) on the statement of financial position.


9.


Controlling party

On 28th March 2024, Ward Williams Associates LLP ceased to be the controlling party of Whitebox Construction Management Limited. There is now no overall controlling party or ultimate parent company.

10.


Auditors' information

The auditors' report on the financial statements for the period ended 31 March 2024 was unqualified.

The audit report was signed on 27 March 2025 by Nathan Coughlin FCA (Senior statutory auditor) on behalf of Bishop Fleming LLP.
 
Page 8