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REGISTERED NUMBER: 00564477 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

Whiteland Engineering Limited

Whiteland Engineering Limited (Registered number: 00564477)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 June 2024




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 10


Whiteland Engineering Limited

COMPANY INFORMATION
for the year ended 30 June 2024







Directors: Mrs Pamela Diana Whiteland
Mr Neil Whiteland





Secretary: Mrs Pamela Diana Whiteland





Registered office: Unit 5 Alverdiscott Industrial Estate
East-The-Water
Bideford
Devon
EX39 4LQ





Registered number: 00564477 (England and Wales)





Accountants: Websters
129 North Hill
Plymouth
Devon
PL4 8JY

Whiteland Engineering Limited (Registered number: 00564477)

BALANCE SHEET
30 June 2024

2024 2023
Notes £    £    £   
Fixed assets
Tangible assets 4 2,519,949 2,456,288
Investments 5 750 750
2,520,699 2,457,038

Current assets
Stocks 484,631 296,035
Debtors 6 598,850 750,824
1,083,481 1,046,859
Creditors
Amounts falling due within one year 7 1,472,136 1,454,821
Net current liabilities (388,655 ) (407,962 )
Total assets less current liabilities 2,132,044 2,049,076

Creditors
Amounts falling due after more than
one year

8

(892,125

)

(908,844

)

Provisions for liabilities 10 (108,000 ) (108,000 )
Net assets 1,131,919 1,032,232

Capital and reserves
Called up share capital 11 200 200
Revaluation reserve 12 277,948 277,948
Capital redemption reserve 7,900 7,900
Retained earnings 845,871 746,184
Shareholders' funds 1,131,919 1,032,232

Whiteland Engineering Limited (Registered number: 00564477)

BALANCE SHEET - continued
30 June 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

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 Profit and loss account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 May 2025 and were signed on its behalf by:





Mr Neil Whiteland - Director


Whiteland Engineering Limited (Registered number: 00564477)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 June 2024

1. STATUTORY INFORMATION

Whiteland Engineering Limited is a private company, limited by shares, registered in England and Wales. The company's registered number, registered office address, and business 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents amounts invoiced in respect of goods and services, net of value added tax. Revenue is recognised on the dispatch of goods to customers.

Tangible fixed assets
Depreciation is calculated to write down the value of tangible fixed assets, on a daily basis over their expected useful economic lives using the following rates:

Land & buildings - Fair value basis
Plant, machinery and equipment - between 10% and 25% reducing balance
Motor vehicles - 20% reducing balance

During the period the directors chose to amend their recognition estimate relating to Land & Buildings to adopt the revaluation model for that class of asset on the basis that this presents a fairer view of the Company's state of affairs.

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

Stock and work in progress
Stock and work in progress are valued at the lower of cost and net realisable value, after making due allowances for obsolete and slow moving items. In the case of work in progress, direct cost represents the amount incurred to date on labour, materials and processing.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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.


Whiteland Engineering Limited (Registered number: 00564477)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024

2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Assets held under finance leases and hire purchase contracts, which are those where substantially all the risks and rewards of ownership of the asset have passed to the company, are capitalised in the balance sheet and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. the interest element of the rental obligations is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. rentals paid under the operating leases are charged to income on a straight line basis over the lease term.

Pensions
The company operates two defined contribution pension schemes for the benefit of its various employees, a group personal pension plan and an executive scheme. The funds of the money purchase and executive schemes are administered by trustees and are separate from the company. the group personal pension operates where the company pays a fixed amount and employees' pensions are based upon the value of their pension funds as at the date of retirement. The money purchase scheme is now closed to new members.

Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Provisions
Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

Whiteland Engineering Limited (Registered number: 00564477)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 37 (2023 - 33 ) .

4. TANGIBLE FIXED ASSETS
Plant,
machinery
Land & and Motor
buildings equipment vehicles Totals
£    £    £    £   
Cost or valuation
At 1 July 2023 1,349,401 1,924,375 73,260 3,347,036
Additions 20,210 231,746 - 251,956
Disposals - (42,964 ) - (42,964 )
At 30 June 2024 1,369,611 2,113,157 73,260 3,556,028
Depreciation
At 1 July 2023 - 875,547 15,201 890,748
Charge for year - 146,487 13,652 160,139
Eliminated on disposal - (14,808 ) - (14,808 )
At 30 June 2024 - 1,007,226 28,853 1,036,079
Net book value
At 30 June 2024 1,369,611 1,105,931 44,407 2,519,949
At 30 June 2023 1,349,401 1,048,828 58,059 2,456,288

20242023
££
Net book value of plant and machinery included above held
under

finance leases and hire purchase contracts520,689225,140

Cost or valuation at 30 June 2024 is represented by:

Plant,
machinery
Land & and Motor
buildings equipment vehicles Totals
£    £    £    £   
Valuation in 2022 308,803 - - 308,803
Cost 1,060,808 2,113,157 73,260 3,247,225
1,369,611 2,113,157 73,260 3,556,028

Whiteland Engineering Limited (Registered number: 00564477)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024

4. TANGIBLE FIXED ASSETS - continued

If Freehold property had not been revalued it would have been included at the following historical cost and aggreagate depreciation:-

20242023
££
Cost1,040,5971,040,597
Aggregate depreciation15,14515,145

Freehold property is valued on an open market/fair value basis at the year end. Of the two properties owned, one was valued at £400,000 on 17 September 2021 by Stuart Smith FRICS of Underwood Wright Ltd, Barnstaple, EX32 7BZ. The other property was acquired in 2022 and is carried at the directors value of £ 969,610 based on the acquisition and associated improvement costs, on the basis that those costs are materially equivalent to market/fair value.

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
Cost
At 1 July 2023
and 30 June 2024 750
Net book value
At 30 June 2024 750
At 30 June 2023 750

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Whiteland Engineering Software Limited
Registered office: 129 North Hill, Plymouth, Devon, PL4 8JY
Nature of business: Software development and provision
%
Class of shares: holding
Ordinary 75.00
2024 2023
£    £   
Aggregate capital and reserves (129,000 ) (131,251 )
Profit for the year 2,000 2,481

The 30th June 2024 capital and reserves; and associated profit are estimated due to the accounts for the subsidiary not being complete at the date of approval of these accounts.

Whiteland Engineering Limited (Registered number: 00564477)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 245,476 451,500
Amounts owed by group undertakings 116,254 112,044
Other debtors 237,120 187,280
598,850 750,824

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 260,169 334,660
Hire purchase contracts 131,421 101,126
Trade creditors 292,055 680,813
Taxation and social security 82,242 85,424
Other creditors 706,249 252,798
1,472,136 1,454,821

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 625,890 681,466
Hire purchase contracts 266,235 227,378
892,125 908,844

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank overdrafts 198,831 277,522
Hire purchase contracts 397,656 328,504
596,487 606,026

The Hire Purchase contracts are secured on the relevant asset. Bank loans and overdrafts are secured on a fixed and floating charge.

Whiteland Engineering Limited (Registered number: 00564477)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024

10. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Tax losses carried forward (135,000 ) (135,000 )
Deferred tax 243,000 243,000
108,000 108,000

Deferred
tax
£   
Balance at 1 July 2023 108,000
Balance at 30 June 2024 108,000

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
200 Ordinary £1 200 200

12. RESERVES
Revaluation
reserve
£   
At 1 July 2023
and 30 June 2024 277,948

Whiteland Engineering Limited (Registered number: 00564477)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2024

13. TRANSACTIONS WITH RELATED PARTIES AND DIRECTORS

At the balance sheet date the company owed/ (was owed) the following amounts to/(by) directors and related parties:

Individuals with control or significant influence:

Mrs Pamela Diana Whiteland £ 120,408
Neil David Whiteland £ 15,407

Subsidiary company:

Whiteland Engineering Software
Limited

£(116,253)

Other connected entities:

Elegant Arrivals Ltd £(79,121)
- a company owned by Neil David
Whiteland


Whiteland Properties Ltd £(9,756)
- a company owned by Neil David
Whiteland


All amounts are payable and repayable on demand and carry no payment of interest.

14. CONTROLLING PARTY

The controlling party throughout the period was the director and sole shareholder Mr Neil David Whiteland.