REGISTERED NUMBER: |
PETER WHITING (MIDLANDS) LIMITED |
Unaudited Financial Statements |
for the Year Ended 31 July 2024 |
REGISTERED NUMBER: |
PETER WHITING (MIDLANDS) LIMITED |
Unaudited Financial Statements |
for the Year Ended 31 July 2024 |
PETER WHITING (MIDLANDS) LIMITED (REGISTERED NUMBER: 02682212) |
Contents of the Financial Statements |
for the year ended 31 July 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
PETER WHITING (MIDLANDS) LIMITED |
Company Information |
for the year ended 31 July 2024 |
Directors: |
Registered office: |
Registered number: |
Accountants: |
New Derwent House |
69-73 Theobalds Road |
London |
WC1X 8TA |
Bankers: |
21-25 King Street |
Hammersmith |
London |
W6 9HW |
PETER WHITING (MIDLANDS) LIMITED (REGISTERED NUMBER: 02682212) |
Balance Sheet |
31 July 2024 |
2024 | 2023 |
Notes | £ | £ |
Current assets |
Cash in hand |
Creditors |
Amounts falling due within one year | 4 | ( |
) |
Net current assets/(liabilities) | ( |
) |
Total assets less current liabilities | ( |
) |
Capital and reserves |
Called up share capital | 5 |
Retained earnings | 6 | ( |
) | ( |
) |
Shareholders' funds | ( |
) |
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 were approved by the Board of Directors and authorised for issue on |
PETER WHITING (MIDLANDS) LIMITED (REGISTERED NUMBER: 02682212) |
Notes to the Financial Statements |
for the year ended 31 July 2024 |
1. | Statutory information |
Peter Whiting (Midlands) Limited is a |
2. | Accounting policies |
Basis of preparation |
Going Concern |
The financial statements have been prepared on a going concern basis. The Directors have reviewed and |
considered relevant information, including financial forecasts in making their assessment. The information prepared shows that the company will have sufficient profits and cash flows to meet its obligations as they fall due. |
Significant judgements and estimates |
Preparation of the financial statements requires management to make significant judgements and estimates in determining the carrying amounts of certain assets and liabilities. Management makes assumptions of the effects of uncertain future events on those assets and liabilities at the balance sheet date. The management's estimates and assumptions are based on historical experience and expectation of future events and are reviewed periodically. This disclosure excludes uncertainty over future events and judgement in respect of measuring financial instruments. None of the judgements or estimates is considered significant. |
Turnover |
Turnover comprises revenue recognised by the company on an invoiced basis in respect of goods supplied during the year, exclusive of Value Added Tax and trade discounts. |
Financial instruments |
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument. |
Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due. |
Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank which are an integral part of the company's cash management. |
Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. |
An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs. |
3. | Employees and directors |
The average number of employees during the year was NIL (2023 - NIL). |
4. | Creditors: amounts falling due within one year |
2024 | 2023 |
£ | £ |
Amounts owed to group undertakings |
PETER WHITING (MIDLANDS) LIMITED (REGISTERED NUMBER: 02682212) |
Notes to the Financial Statements - continued |
for the year ended 31 July 2024 |
5. | Called up share capital |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 5,000 | 5,000 |
6. | Reserves |
Retained |
earnings |
£ |
At 1 August 2023 | ( |
) |
Profit for the year |
At 31 July 2024 | ( |
) |
7. | Related party disclosures |
During the year the company made sales of £nil (2023: £285,968) to its parent undertaking. Additionally, cost recharges were made from the parent undertaking in the sum of £nil (2023: £258,905) and a management charge of £nil (2023: £nil). The balance owed at the start of the year to the parent undertaking was forgiven in the year (2023: £47,762). |