The Whitsters of Chelsea Limited 00968920 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is that of laundry and dry cleaning. Digita Accounts Production Advanced 6.30.9574.0 true false 00968920 2023-09-01 2024-08-31 00968920 2024-08-31 00968920 bus:OrdinaryShareClass1 bus:CumulativeShares 2024-08-31 00968920 core:RetainedEarningsAccumulatedLosses 2024-08-31 00968920 core:ShareCapital 2024-08-31 00968920 core:HirePurchaseContracts core:CurrentFinancialInstruments 2024-08-31 00968920 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-08-31 00968920 core:CurrentFinancialInstruments 2024-08-31 00968920 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 00968920 core:Non-currentFinancialInstruments core:AfterOneYear 2024-08-31 00968920 core:FurnitureFittings 2024-08-31 00968920 core:MotorVehicles 2024-08-31 00968920 core:PlantMachinery 2024-08-31 00968920 core:AllSubsidiaries 2024-08-31 00968920 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2024-08-31 00968920 core:OtherRelatedParties 2024-08-31 00968920 bus:SmallEntities 2023-09-01 2024-08-31 00968920 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 00968920 bus:FilletedAccounts 2023-09-01 2024-08-31 00968920 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 00968920 bus:RegisteredOffice 2023-09-01 2024-08-31 00968920 bus:CompanySecretaryDirector1 2023-09-01 2024-08-31 00968920 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-09-01 2024-08-31 00968920 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 00968920 core:FurnitureFittings 2023-09-01 2024-08-31 00968920 core:MotorVehicles 2023-09-01 2024-08-31 00968920 core:PlantMachinery 2023-09-01 2024-08-31 00968920 core:AllSubsidiaries 2023-09-01 2024-08-31 00968920 core:KeyManagementPersonnel 2023-09-01 2024-08-31 00968920 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-09-01 2024-08-31 00968920 core:OtherRelatedParties 2023-09-01 2024-08-31 00968920 countries:EnglandWales 2023-09-01 2024-08-31 00968920 2023-08-31 00968920 core:CostValuation 2023-08-31 00968920 core:FurnitureFittings 2023-08-31 00968920 core:MotorVehicles 2023-08-31 00968920 core:PlantMachinery 2023-08-31 00968920 core:AllSubsidiaries 2023-08-31 00968920 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-08-31 00968920 core:OtherRelatedParties 2023-08-31 00968920 2022-09-01 2023-08-31 00968920 2023-08-31 00968920 bus:OrdinaryShareClass1 bus:CumulativeShares 2023-08-31 00968920 core:RetainedEarningsAccumulatedLosses 2023-08-31 00968920 core:ShareCapital 2023-08-31 00968920 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-08-31 00968920 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-08-31 00968920 core:CurrentFinancialInstruments 2023-08-31 00968920 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 00968920 core:Non-currentFinancialInstruments core:AfterOneYear 2023-08-31 00968920 core:FurnitureFittings 2023-08-31 00968920 core:MotorVehicles 2023-08-31 00968920 core:PlantMachinery 2023-08-31 00968920 core:AllSubsidiaries 2023-08-31 00968920 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2023-08-31 00968920 core:OtherRelatedParties 2023-08-31 00968920 core:AllSubsidiaries 2022-09-01 2023-08-31 00968920 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-09-01 2023-08-31 00968920 core:OtherRelatedParties 2022-09-01 2023-08-31 00968920 2022-08-31 00968920 core:AllSubsidiaries 2022-08-31 00968920 core:KeyManagementPersonnelCloseFamilyMembersEntitiesUnderKeyManagementPersonnelsControl 2022-08-31 00968920 core:OtherRelatedParties 2022-08-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 00968920

The Whitsters of Chelsea Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

The Whitsters of Chelsea Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 10

 

The Whitsters of Chelsea Limited

(Registration number: 00968920)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

172,288

82,638

Investments

5

66,998

66,998

 

239,286

149,636

Current assets

 

Stocks

23,443

24,349

Debtors

6

96,868

236,166

Cash at bank and in hand

 

5,860

2,124

 

126,171

262,639

Creditors: Amounts falling due within one year

7

(179,574)

(321,050)

Net current liabilities

 

(53,403)

(58,411)

Total assets less current liabilities

 

185,883

91,225

Creditors: Amounts falling due after more than one year

7

(62,502)

-

Provisions for liabilities

(43,072)

(20,659)

Net assets

 

80,309

70,566

Capital and reserves

 

Called up share capital

10

100

100

Retained earnings

80,209

70,466

Shareholders' funds

 

80,309

70,566

 

The Whitsters of Chelsea Limited

(Registration number: 00968920)
Balance Sheet as at 31 August 2024

For the financial year ending 31 August 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been 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 19 May 2025 and signed on its behalf by:
 

.........................................
Mr A N Patel
Company secretary and director

 

The Whitsters of Chelsea Limited

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

1

General information

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

The address of its registered office is:
13-15 Elystan Street
Chelsea
London
SW3 3NU

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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' 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

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover from providing laundry and dry cleaning services is shown net of sales/value added tax, returns, rebates and discounts.

Tax

The tax expense for the period comprises current tax payable and deferred tax.

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

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:

 

The Whitsters of Chelsea Limited

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

Asset class

Depreciation method and rate

Plant and Machinery

10 years

Fixtures, fittings and equipment

4 years

Motor vehicles

5 years

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

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.

Debtors

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

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Profit and Loss Account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

 

The Whitsters of Chelsea Limited

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

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 - 7).

 

The Whitsters of Chelsea Limited

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

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 September 2023

12,436

84,000

19,000

115,436

Additions

1,767

59,625

44,990

106,382

At 31 August 2024

14,203

143,625

63,990

221,818

Depreciation

At 1 September 2023

12,427

18,154

2,217

32,798

Charge for the year

233

8,950

7,549

16,732

At 31 August 2024

12,660

27,104

9,766

49,530

Carrying amount

At 31 August 2024

1,543

116,521

54,224

172,288

At 31 August 2023

9

65,846

16,783

82,638

5

Investments

2024
£

2023
£

Investments in subsidiaries

66,998

66,998

Subsidiaries

£

Cost or valuation

At 1 September 2023

66,998

Provision

Carrying amount

At 31 August 2024

66,998

At 31 August 2023

66,998

 

The Whitsters of Chelsea Limited

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

6

Debtors

Current

2024
£

2023
£

Trade debtors

27,730

176,954

Prepayments

11,459

12,414

Other debtors

57,679

46,798

 

96,868

236,166

 

The Whitsters of Chelsea Limited

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

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

43,869

28,271

Trade creditors

 

43,543

26,538

Amounts owed to related parties

9

66,066

230,259

Taxation and social security

 

22,682

28,056

Other creditors

 

3,414

7,926

 

179,574

321,050

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

62,502

-

8

Loans and borrowings

Current loans and borrowings

2024
£

2023
£

Bank borrowings

18,214

28,271

Hire purchase contracts

25,655

-

43,869

28,271

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

62,502

-

 

The Whitsters of Chelsea Limited

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

9

Related party transactions

Loans to related parties

2024

Key management
£

Other related parties
£

Total
£

At start of period

23,412

1,005

24,417

Repaid

(1,919)

(1,000)

(2,919)

Interest transactions

843

-

843

At end of period

22,336

5

22,341

2023

Key management
£

Other related parties
£

Total
£

At start of period

118,582

25,985

144,567

Repaid

(96,000)

(25,000)

(121,000)

Interest transactions

830

20

850

At end of period

23,412

1,005

24,417

Terms of loans to related parties

The loans to key management include;

Loans totalling £23,336 (2023 - £23,412) to other limited companies of which Mr A Patel is also a director These loans are subject to interest of between 3.5-4.5% and are repayable on demand.

 The loan to other related parties is a loan to a shareholder which is subject to interest at 2% and is repayable on demand.

 

The Whitsters of Chelsea Limited

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

Loans from related parties

2024

Subsidiary
£

Key management
£

Total
£

At start of period

230,259

500

230,759

Repaid

(164,194)

(500)

(164,694)

At end of period

66,065

-

66,065

2023

Subsidiary
£

Key management
£

Total
£

At start of period

225,756

500

226,256

Advanced

14,503

-

14,503

Repaid

(10,000)

-

(10,000)

At end of period

230,259

500

230,759

Terms of loans from related parties

The loan from the subsidiary is interest free and is repayable on demand.
 The loan from key management is interest free and is repayable on demand.
 

10

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100