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REGISTERED NUMBER: 01381190 (England and Wales)















PETER WHITING LIMITED

Unaudited Financial Statements

for the Year Ended 31 July 2024






PETER WHITING LIMITED (REGISTERED NUMBER: 01381190)

Contents of the Financial Statements
for the year ended 31 July 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


PETER WHITING LIMITED

Company Information
for the year ended 31 July 2024







Directors: J M Whiting
K Motion



Registered office: 8 Barb Mews
Hammersmith
London
W6 7PA



Registered number: 01381190 (England and Wales)



Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA



Bankers: Lloyds Bank plc
21-25 King Street
Hammersmith
London
W6 9HW

PETER WHITING LIMITED (REGISTERED NUMBER: 01381190)

Balance Sheet
31 July 2024

2024 2023
Notes £ £
Fixed assets
Tangible assets 4 412,312 416,899
Investments 5 1 1
412,313 416,900

Current assets
Stocks 346,273 448,912
Debtors 6 193,262 349,575
Cash at bank 894,734 522,459
1,434,269 1,320,946
Creditors
Amounts falling due within one year 7 (754,882 ) (689,524 )
Net current assets 679,387 631,422
Total assets less current liabilities 1,091,700 1,048,322

Creditors
Amounts falling due after more than one
year

8

(14,721

)

(24,317

)
Net assets 1,076,979 1,024,005

Capital and reserves
Called up share capital 9 220,000 220,000
Retained earnings 10 856,979 804,005
Shareholders' funds 1,076,979 1,024,005

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

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.

PETER WHITING LIMITED (REGISTERED NUMBER: 01381190)

Balance Sheet - continued
31 July 2024


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 April 2025 and were signed on its behalf by:





J M Whiting - Director


PETER WHITING LIMITED (REGISTERED NUMBER: 01381190)

Notes to the Financial Statements
for the year ended 31 July 2024


1. Statutory information

Peter Whiting Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. Accounting policies

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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.

Preparation of consolidated financial statements
The financial statements contain information about Peter Whiting Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

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.

There is estimation uncertainty in calculating bad debt provisions. A full review of trade debtors is carried out by management regularly. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provision do not match the level of debts which ultimately prove to be uncollectable.

There is also estimation uncertainty in calculating stock provisions. Slow moving and obsolete stocks are monitored during the year. A line by line review of stock provisions is carried out at the year-end and slow-moving stock put forward for provision. Whilst every attempt is made to ensure that the stock provisions are as accurate as possible, there remains a risk that the provisions do not match the ultimate realised value of stock held.

There are no further significant judgements or estimates.

Turnover
Turnover comprises revenue recognised on an invoiced basis by the company in respect of goods supplied during the year, exclusive of Value Added Tax and trade discounts.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Fixtures and fittings - at varying rates on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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


PETER WHITING LIMITED (REGISTERED NUMBER: 01381190)

Notes to the Financial Statements - continued
for the year ended 31 July 2024


2. Accounting policies - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

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 4 (2023 - 5 ) .

PETER WHITING LIMITED (REGISTERED NUMBER: 01381190)

Notes to the Financial Statements - continued
for the year ended 31 July 2024


4. Tangible fixed assets
Fixtures
Freehold and
property fittings Totals
£ £ £
Cost
At 1 August 2023 466,055 37,130 503,185
Additions - 1,034 1,034
At 31 July 2024 466,055 38,164 504,219
Depreciation
At 1 August 2023 51,104 35,182 86,286
Charge for year 3,400 2,221 5,621
At 31 July 2024 54,504 37,403 91,907
Net book value
At 31 July 2024 411,551 761 412,312
At 31 July 2023 414,951 1,948 416,899

5. Fixed asset investments
Shares in
group
undertakings
£
Cost
At 1 August 2023
and 31 July 2024 1
Net book value
At 31 July 2024 1
At 31 July 2023 1

6. Debtors: amounts falling due within one year
2024 2023
£ £
Trade debtors 182,598 347,013
Other debtors 10,664 2,562
193,262 349,575

7. Creditors: amounts falling due within one year
2024 2023
£ £
Bank loans 8,333 8,333
Trade creditors 442,845 342,471
Taxation and social security 151,460 218,923
Other creditors 152,244 119,797
754,882 689,524

PETER WHITING LIMITED (REGISTERED NUMBER: 01381190)

Notes to the Financial Statements - continued
for the year ended 31 July 2024


8. Creditors: amounts falling due after more than one year
2024 2023
£ £
Bank loans 14,721 24,317

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
20,000 Ordinary £1 20,000 20,000
100,000 9% Preference £1 100,000 100,000
100,000 Preference A £1 100,000 100,000
220,000 220,000

10. Reserves
Retained
earnings
£

At 1 August 2023 804,005
Profit for the year 52,974
At 31 July 2024 856,979

11. Related party disclosures

During the year the company made purchases of £Nil (2023: £285,968) from a related company. Additionally, cost recharges to the related company were £Nil (2023: £258,905).