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Registration number: 04112184

M J White Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

M J White Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 10

 

M J White Limited

Company Information

Directors

Mr J White

Mrs S White

Company secretary

K White

Registered office

Units 1 & 2
Sandford Lane Industrial Estate
Wareham
Dorset
BH20 4DY

Accountants

McCormick Accounting Limited
Accountant

 

M J White Limited

(Registration number: 04112184)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

57,614

66,840

Current assets

 

Stocks

6

8,000

8,000

Debtors

7

17,128

20,284

Cash at bank and in hand

 

285,355

272,209

 

310,483

300,493

Creditors: Amounts falling due within one year

8

(43,360)

(29,270)

Net current assets

 

267,123

271,223

Net assets

 

324,737

338,063

Capital and reserves

 

Called up share capital

9

1,000

1,000

Retained earnings

323,737

337,063

Shareholders' funds

 

324,737

338,063

For the financial year ending 31 December 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 26 March 2025 and signed on its behalf by:
 

.........................................
Mr J White
Director

 

M J White Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
Units 1 & 2
Sandford Lane Industrial Estate
Wareham
Dorset
BH20 4DY
England

These financial statements were authorised for issue by the Board on 26 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Revenue is recognised at the fair value of the consideration received or receivable, excluding discounts, rebates and value added tax.

Government grants

Grants are recognised in the period in which they are utilised.

Tax

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

 

M J White Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

2

Accounting policies (continued)

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 taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

10% on a reducing balance basis

Motor Vehicles

20% on reducing balance basis

Goodwill

Goodwill is being amortised over its estimated useful life of 20 years.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

Straight line over 20 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

M J White Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

2

Accounting policies (continued)

Stocks

Stocks are valued at the lower of cost and net realisable value after making allowance for any obsolete or slow moving items.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 7 (2023 - 8).

 

M J White Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

4

Intangible assets

Goodwill
 £

Total
£

Cost or valuation

At 1 January 2024

58,000

58,000

At 31 December 2024

58,000

58,000

Amortisation

At 1 January 2024

58,000

58,000

At 31 December 2024

58,000

58,000

Carrying amount

At 31 December 2024

-

-

Amortisation of goodwill

 

M J White Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

5

Tangible assets

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2024

168,642

107,481

276,123

At 31 December 2024

168,642

107,481

276,123

Depreciation

At 1 January 2024

118,748

90,535

209,283

Charge for the year

4,989

4,237

9,226

At 31 December 2024

123,737

94,772

218,509

Carrying amount

At 31 December 2024

44,905

12,709

57,614

At 31 December 2023

49,894

16,946

66,840

6

Stocks

2024
£

2023
£

Other inventories

8,000

8,000

7

Debtors

Current

2024
£

2023
£

Trade debtors

17,128

16,213

Other debtors

-

4,071

 

17,128

20,284

8

Creditors

Creditors: amounts falling due within one year

 

M J White Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

8

Creditors (continued)

2024
£

2023
£

Due within one year

Trade creditors

12,197

11,918

Taxation and social security

28,076

11,333

Other creditors

3,087

6,019

43,360

29,270

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A of £1 each

800

800

800

800

Ordinary B of £1 each

200

200

200

200

1,000

1,000

1,000

1,000

10

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £Nil (2023 - £12.50) per each Ordinary A

-

10,000

Interim dividend of £195.00 (2023 - £50.00) per each Ordinary B

39,000

10,000

39,000

20,000

11

Related party transactions

 

M J White Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

11

Related party transactions (continued)

Transactions with directors

 

M J White Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024 (continued)

11

Related party transactions (continued)

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

57,170

35,024