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Registration number: 03925840

White Rose Petersfield Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2024

 

White Rose Petersfield Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3 to 4

Statement of Changes in Equity

5

Notes to the Unaudited Financial Statements

6 to 12

 

White Rose Petersfield Limited

Company Information

Directors

Mr A J Baker

Mrs TA Baker

Company secretary

Mrs TA Baker

Registered office

Station Road
Petersfield
Hampshire
GU32 3DJ

Accountants

A J Wheeler Ltd - Trading as Howard Smith & Co
Chartered & Certified Accountants
338 London Road
Portsmouth
Hampshire
PO2 9JY

 

Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
White Rose Petersfield Limited
for the Year Ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of White Rose Petersfield Limited for the year ended 31 December 2024 as set out on pages 3 to 12 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.

This report is made solely to the Board of Directors of White Rose Petersfield Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of White Rose Petersfield Limited and state those matters that we have agreed to state to the Board of Directors of White Rose Petersfield Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than White Rose Petersfield Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that White Rose Petersfield Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of White Rose Petersfield Limited. You consider that White Rose Petersfield Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of White Rose Petersfield Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

A J Wheeler Ltd - Trading as Howard Smith & Co
Chartered & Certified Accountants
338 London Road
Portsmouth
Hampshire
PO2 9JY

23 May 2025

 

White Rose Petersfield Limited

(Registration number: 03925840)
Balance Sheet as at 31 December 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

927,417

911,367

Current assets

 

Stocks

5

141,774

151,362

Debtors

6

19,481

8,825

Cash at bank and in hand

 

30,176

80,691

 

191,431

240,878

Creditors: Amounts falling due within one year

7

(158,869)

(140,887)

Net current assets

 

32,562

99,991

Total assets less current liabilities

 

959,979

1,011,358

Creditors: Amounts falling due after more than one year

7

(26,888)

-

Provisions for liabilities

(23,308)

(23,138)

Net assets

 

909,783

988,220

Capital and reserves

 

Called up share capital

8

100,000

100,000

Revaluation reserve

411,625

411,625

Retained earnings

398,158

476,595

Shareholders' funds

 

909,783

988,220

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 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.

 

White Rose Petersfield Limited

(Registration number: 03925840)
Balance Sheet as at 31 December 2024

Approved and authorised by the Board on 22 May 2025 and signed on its behalf by:
 

.........................................
Mr A J Baker
Director

 

White Rose Petersfield Limited

Statement of Changes in Equity for the Year Ended 31 December 2024

Share capital
£

Revaluation reserve
£

Retained earnings
£

Total
£

At 1 January 2024

100,000

411,625

476,592

988,217

Loss for the year

-

-

(6,434)

(6,434)

Dividends

-

-

(72,000)

(72,000)

At 31 December 2024

100,000

411,625

398,158

909,783

Share capital
£

Revaluation reserve
£

Retained earnings
£

Total
£

At 1 January 2023

100,000

411,625

533,430

1,045,055

Profit for the year

-

-

15,165

15,165

Dividends

-

-

(72,000)

(72,000)

At 31 December 2023

100,000

411,625

476,595

988,220

 

White Rose Petersfield 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 and Wales.

The address of its registered office is:
Station Road
Petersfield
Hampshire
GU32 3DJ

These financial statements were authorised for issue by the Board on 22 May 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

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.

Going concern

The financial statements have been prepared on a going concern basis.

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 is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred 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.

 

White Rose Petersfield Limited

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

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:

Asset class

Depreciation method and rate

Freehold property

1% - 2% on a straight line basis

Short term leasehold property

Over the term of the lease

Plant and machinery

10% - 20% on a reducing balance basis

Motor vehicles

varying rates dependant on estimated life of vehicle

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 merchandise sold or 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.

 

White Rose Petersfield Limited

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

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

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.

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.

 

White Rose Petersfield Limited

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

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 14 (2023 - 14).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2024

795,000

564,885

64,708

1,424,593

Additions

-

10,116

82,823

92,939

Disposals

-

-

(64,708)

(64,708)

At 31 December 2024

795,000

575,001

82,823

1,452,824

Depreciation

At 1 January 2024

15,708

489,178

8,340

513,226

Charge for the year

6,500

12,798

1,223

20,521

Eliminated on disposal

-

-

(8,340)

(8,340)

At 31 December 2024

22,208

501,976

1,223

525,407

Carrying amount

At 31 December 2024

772,792

73,025

81,600

927,417

At 31 December 2023

779,292

75,707

56,368

911,367

Included within the net book value of land and buildings above is £772,792 (2023 - £779,292) in respect of freehold land and buildings.
 

Revaluation

 

White Rose Petersfield Limited

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

The fair value of the company's Freehold property was revalued on 26 July 2021 by an independent valuer.
During the year ended 31 December 2021, the company's premises were revalued at market value on the basis of existing use.. The name and qualification of the independent valuer are Hurst, Warne & Partners Surveyors Limited, Chartered Surveyors.
Had this class of asset been measured on a historical cost basis, the carrying amount would have been £350,303 (2023 - £356,803).

 

White Rose Petersfield Limited

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

5

Stocks

2024
£

2023
£

Raw materials and consumables

58,744

52,958

Other inventories

83,030

98,404

141,774

151,362

6

Debtors

Current

2024
£

2023
£

Trade debtors

15,610

5,385

Prepayments

3,871

3,440

 

19,481

8,825

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

9

14,667

8,125

Trade creditors

 

67,410

70,061

Taxation and social security

 

40,578

35,209

Accruals and deferred income

 

6,222

7,546

Other creditors

 

29,992

19,946

 

158,869

140,887

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

"A" Ordinary of £1 each

56,400

56,400

56,400

56,400

"B" Ordinary of £1 each

43,600

43,600

43,600

43,600

100,000

100,000

100,000

100,000

 

White Rose Petersfield Limited

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

9

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Hire purchase contracts

26,888

-

Current loans and borrowings

2024
£

2023
£

Hire purchase contracts

14,667

8,125

10

Dividends

2024

2023

£

£

Interim dividend of £0.72 (2023 - £0.72) per ordinary share

72,000

72,000

 

 

11

Related party transactions

At 31 December 2024, the company owed £14,000 (2023: £9,000) to Mr A J Baker and £14,000 (2023: £9,000) to Mrs T A Baker. These loans are unsecured.

Directors' remuneration

The directors' remuneration for the year was as follows:

2024
£

2023
£

Remuneration

19,000

19,000

Contributions paid to money purchase schemes

30,000

30,000

49,000

49,000

During the year the number of directors who were receiving benefits and share incentives was as follows:

2024
No.

2023
No.

Accruing benefits under money purchase pension scheme

1

1