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Registered number: 13087760
Whitfield Property Ltd
Unaudited Financial Statements
For The Year Ended 31 December 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 13087760
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 140 187
Investment Properties 5 254,132 269,651
254,272 269,838
CURRENT ASSETS
Debtors 6 187 713
Cash at bank and in hand 617 387
804 1,100
Creditors: Amounts Falling Due Within One Year 7 (85,812 ) (86,728 )
NET CURRENT ASSETS (LIABILITIES) (85,008 ) (85,628 )
TOTAL ASSETS LESS CURRENT LIABILITIES 169,264 184,210
Creditors: Amounts Falling Due After More Than One Year 8 (162,345 ) (162,400 )
NET ASSETS 6,919 21,810
CAPITAL AND RESERVES
Called up share capital 9 5 5
Profit and Loss Account 6,914 21,805
SHAREHOLDERS' FUNDS 6,919 21,810
Page 1
Page 2
For the 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.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs Ann Whitfield
Director
16 May 2025
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Whitfield Property Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13087760 . The registered office is 41 Durwent Close, Plymouth, England, PL9 9TP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 25% reducing balance
Fixtures & Fittings 25% reducing balance
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 3)
2 3
4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 January 2024 249
As at 31 December 2024 249
Depreciation
As at 1 January 2024 62
Provided during the period 47
As at 31 December 2024 109
Net Book Value
As at 31 December 2024 140
As at 1 January 2024 187
Page 3
Page 4
5. Investment Property
2024
£
Fair Value
As at 1 January 2024 269,651
Additions (15,519 )
As at 31 December 2024 254,132
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income 65 713
Other taxes and social security 122 -
187 713
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Other taxes and social security - 114
Other creditors 30,684 33,024
Accruals and deferred income 993 2,400
Director's loan account 54,135 51,190
85,812 86,728
8. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Bank loans 162,345 162,400
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 5 5
10. Fair Value of Investment Property
Investment Property is held at fair value as determined by an independent valuation obtained by the Director. 
There are no restrictions to the realisability of the investment property or the remittance of income and proceeds of disposal. The company is obliged to carry out repairs and maintenance on the property.
Carrying value at 31 December 2023: £269,651
Carrying value at 31 December 2024: £254,132
Page 4