IRIS Accounts Productionv25.1.3.3311937577Board of Directors31.8.241.9.2331.8.2431.8.24Medium entitiesThese accounts have been prepared in accordance with the provisions applicable to companies subject to the medium-sized companies regime.the manufacture of precision turned parts and threaded inserts, and the supply of nuts, bolts and other fasteners.truetruetruefalsetruetruefalsefalsefalsefalsefalsefalsefalsefalsefalsetruefalseOrdinary1.00000Preference1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh119375772023-08-31119375772024-08-31119375772023-09-012024-08-31119375772022-08-31119375772022-09-012023-08-31119375772023-08-3111937577ns15:EnglandWales2023-09-012024-08-3111937577ns14:PoundSterling2023-09-012024-08-3111937577ns10:Director12023-09-012024-08-3111937577ns10:Consolidated2024-08-3111937577ns10:ConsolidatedGroupCompanyAccounts2023-09-012024-08-3111937577ns10:PrivateLimitedCompanyLtd2023-09-012024-08-3111937577ns10:Consolidatedns10:MediumEntities2023-09-012024-08-3111937577ns10:Consolidatedns10:Audited2023-09-012024-08-3111937577ns10:Medium-sizedCompaniesRegimeForDirectorsReport2023-09-012024-08-3111937577ns10:Medium-sizedCompaniesRegimeForAccounts2023-09-012024-08-3111937577ns10:Consolidated2023-09-012024-08-3111937577ns10:Consolidatedns10:Medium-sizedCompaniesRegimeForDirectorsReport2023-09-012024-08-3111937577ns10:Consolidatedns10:Medium-sizedCompaniesRegimeForAccounts2023-09-012024-08-3111937577ns10:FullAccounts2023-09-012024-08-3111937577ns5:Subsidiary12023-09-012024-08-3111937577ns5:Subsidiary22023-09-012024-08-3111937577ns5:Subsidiary32023-09-012024-08-3111937577ns5:Subsidiary42023-09-012024-08-3111937577ns5:Subsidiary52023-09-012024-08-3111937577ns5:Subsidiary62023-09-012024-08-311193757712023-09-012024-08-3111937577ns10:OrdinaryShareClass12023-09-012024-08-3111937577ns10:OrdinaryShareClass22023-09-012024-08-3111937577ns10:Director22023-09-012024-08-3111937577ns10:RegisteredOffice2023-09-012024-08-3111937577ns10:Consolidated2022-09-012023-08-3111937577ns5:CurrentFinancialInstruments2024-08-3111937577ns5:CurrentFinancialInstruments2023-08-3111937577ns5:Non-currentFinancialInstruments2024-08-3111937577ns5:Non-currentFinancialInstruments2023-08-3111937577ns5:ShareCapital2024-08-3111937577ns5:ShareCapital2023-08-3111937577ns5:RetainedEarningsAccumulatedLosses2024-08-3111937577ns5:RetainedEarningsAccumulatedLosses2023-08-311193757712023-09-012024-08-3111937577ns5:NetGoodwill2023-09-012024-08-3111937577ns5:IntangibleAssetsOtherThanGoodwill2023-09-012024-08-3111937577ns5:LongLeaseholdAssetsns5:LandBuildings2023-09-012024-08-3111937577ns5:PlantMachinery2023-09-012024-08-3111937577ns5:FurnitureFittings2023-09-012024-08-3111937577ns5:MotorVehicles2023-09-012024-08-3111937577ns5:ComputerEquipment2023-09-012024-08-3111937577ns5:CostValuation2023-08-3111937577ns5:CostValuationns5:ListedExchangeTraded2023-08-3111937577ns5:AdditionsToInvestments2024-08-3111937577ns5:AdditionsToInvestmentsns5:ListedExchangeTraded2024-08-3111937577ns5:DisposalsRepaymentsInvestments2024-08-3111937577ns5:ListedExchangeTradedns5:DisposalsRepaymentsInvestments2024-08-3111937577ns5:RevaluationsIncreaseDecreaseInInvestments2024-08-3111937577ns5:RevaluationsIncreaseDecreaseInInvestmentsns5:ListedExchangeTraded2024-08-3111937577ns5:ForeignExchangeDifferencesIncreaseDecreaseInInvestments2024-08-3111937577ns5:ForeignExchangeDifferencesIncreaseDecreaseInInvestmentsns5:ListedExchangeTraded2024-08-3111937577ns5:CostValuation2024-08-3111937577ns5:CostValuationns5:ListedExchangeTraded2024-08-3111937577ns5:ListedExchangeTraded2024-08-3111937577ns5:ListedExchangeTraded2023-08-31119375771ns5:Subsidiary12023-09-012024-08-3111937577ns5:Subsidiary232023-09-012024-08-31119375777ns5:Subsidiary42023-09-012024-08-31119375778ns5:Subsidiary42023-09-012024-08-3111937577ns5:Subsidiary592023-09-012024-08-3111937577ns5:Subsidiary5102023-09-012024-08-3111937577ns5:Subsidiary6112023-09-012024-08-3111937577ns5:WithinOneYearns5:CurrentFinancialInstruments2024-08-3111937577ns5:WithinOneYearns5:CurrentFinancialInstruments2023-08-3111937577ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2023-08-3111937577ns5:BetweenOneTwoYearsns5:Non-currentFinancialInstruments2024-08-3111937577ns5:WithinOneYear2024-08-3111937577ns5:WithinOneYear2023-08-3111937577ns5:BetweenOneFiveYears2024-08-3111937577ns5:BetweenOneFiveYears2023-08-3111937577ns5:AllPeriods2024-08-3111937577ns5:AllPeriods2023-08-3111937577ns5:AcceleratedTaxDepreciationDeferredTax2024-08-3111937577ns5:AcceleratedTaxDepreciationDeferredTax2023-08-3111937577ns5:DeferredTaxation2023-09-012024-08-3111937577ns5:DeferredTaxation2024-08-3111937577ns10:OrdinaryShareClass12024-08-3111937577ns10:OrdinaryShareClass22024-08-3111937577ns5:RetainedEarningsAccumulatedLosses2023-08-3111937577ns5:RetainedEarningsAccumulatedLosses2023-09-012024-08-31

REGISTERED NUMBER: 11937577 (England and Wales)





GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2024


FOR



WHITEHOUSE INDUSTRIES LIMITED


WHITEHOUSE INDUSTRIES LIMITED (REGISTERED NUMBER: 11937577)








CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS

for the year ended 31 August 2024





Page




Company Information  

1




Group Strategic Report  

2




Report of the Directors  

3




Report of the Independent Auditors  

4




Consolidated Statement of Income and Retained

Earnings  

9




Consolidated Balance Sheet  

10




Company Balance Sheet  

11




Consolidated Cash Flow Statement  

12




Notes to the Consolidated Cash Flow Statement

13




Notes to the Consolidated Financial Statements

15





WHITEHOUSE INDUSTRIES LIMITED



COMPANY INFORMATION

for the year ended 31 August 2024









DIRECTORS:

Mrs E V Whitehouse


S E J Whitehouse







REGISTERED OFFICE:

1110 Elliott Court


Coventry Business Park


Herald Avenue


Coventry


West Midlands


CV5 6UB







REGISTERED NUMBER:

11937577 (England and Wales)







AUDITORS:

Luckmans Duckett Parker Limited


Chartered Accountants


Statutory Auditors


1110 Elliott Court


Herald Avenue


Coventry Business Park


Coventry


West Midlands


CV5 6UB


WHITEHOUSE INDUSTRIES LIMITED (REGISTERED NUMBER: 11937577)



GROUP STRATEGIC REPORT

for the year ended 31 August 2024


The directors present their strategic report of the company and the group for the year ended 31 August 2024.


REVIEW OF BUSINESS

The group are a manufacturer and distributor of fasteners, fixings, inserts, turned parts for plastic moulding and other related products to OEM's and other industrial companies.


Overall, the group has seen a slight reduction in turnover and reduction in gross margins. The fasteners and fixings in the construction sector has performed the best across the group which is pleasing. In other areas, there have been pressures on gross margin in particular with purchase and staffing costs rising.


The Board are striving to grow the business in difficult economic conditions and are confident that this will produce an improvement in performance in the long term.


PRINCIPAL RISKS AND UNCERTAINTIES

Our customers are continually pushing for improvement in prices so our margins are consistently under pressure. We continue to invest in stock where we believe it to be economically sensible to benefit from economies of scale.


As for many businesses of our size the business environment remains challenging, however, we are financially strong and well places to benefit from any growth in our market place and we continue to focus on our operational efficiencies.


KEY PERFORMANCE INDICATORS



2024



2023



Sales % increase / (decrease)



(5)%



5%



Gross profit margin



32%



34%



Net profit / (loss) before tax margin



(10)%



(10)%



Return on capital employed



(10)%



(8)%



EBITDA / Sales



13%



10%



FUTURE DEVELOPMENTS

Key areas for the future development of the business include:

-


Constantly seeking out new customers, products and sources of supply


-


Consistently growing turnover and profitability; and


-


Containing overhead cost increases



ON BEHALF OF THE BOARD:






S E J Whitehouse - Director



28 May 2025


WHITEHOUSE INDUSTRIES LIMITED (REGISTERED NUMBER: 11937577)



REPORT OF THE DIRECTORS

for the year ended 31 August 2024


The directors present their report with the financial statements of the company and the group for the year ended 31 August 2024.


DIVIDENDS

An interim dividend of £1 per share was paid on the Preference £1 shares on 31 March 2024. No dividends were paid on the Ordinary £1 shares.


The total distribution of dividends for the year ended 31 August 2024 will be £ 66,000 .


DIRECTORS

The directors shown below have held office during the whole of the period from 1 September 2023 to the date of this report.


Mrs E V Whitehouse

S E J Whitehouse


STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.


Company law requires the directors to prepare financial statements for each financial year.  Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period.  In preparing these financial statements, the directors are required to:


-

select suitable accounting policies and then apply them consistently;

-

make judgements and accounting estimates that are reasonable and prudent;

-

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.


The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.


AUDITORS

The auditors,  Luckmans Duckett Parker Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.


ON BEHALF OF THE BOARD:






S E J Whitehouse - Director



28 May 2025


REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

WHITEHOUSE INDUSTRIES LIMITED


We have audited the financial statements of Whitehouse Industries Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 August 2024 which comprise the Consolidated Statement of Income and Retained Earnings, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion except for the possible effects of the matter described in the basis for qualified opinion section of our report the financial statements:

-


give a true and fair view of the state of the group's affairs as at 31 August 2024 and of its profit for



the year then ended;


-


have been properly prepared in accordance with United Kingdom Generally Accepted Accounting



Practice; and


-


have been prepared in accordance with the requirements of the Companies Act 2006.



Qualified opinion



Basis for qualified opinion

We were not appointed as auditor of the group until after 31 August 2023 and thus did not observe the counting of physical inventories at the end of of the year ended 31 August 2022 or 31 August 2023. We were unable to satisfy ourselves by alternative means concerning the inventory quantities held at 31 August 2022 or 31 August 2023, which are included in the balance sheet and goodwill on consolidation calculations at £729,083 and £861,316 respectively, by using other audit procedures. Consequently we were unable to determine whether any adjustment to this amount was necessary.

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion.

The comparative figures were not audited.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.


REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

WHITEHOUSE INDUSTRIES LIMITED



Other information

The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.


Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.


In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


As described in the basis for qualified opinion section of our report, we were unable to satisfy ourselves concerning the inventory quantities held at 31 August 2022 or 31 August 2023, which are included in the balance sheet and goodwill on consolidation calculations at £729,083 and £861,316 respectively. We have concluded that where the other information refers to the inventory balance, goodwill on consolidation or related balances such as cost of sales or amortisation of goodwill, it may be materially misstated for the same reason.


Opinions on other matters prescribed by the Companies Act 2006

We were not appointed as auditor of the group until after 31 August 2023 and thus did not observe the counting of physical inventories at the end of of the year ended 31 August 2022 or 31 August 2023. We were unable to satisfy ourselves by alternative means concerning the inventory quantities held at 31 August 2022 or 31 August 2023, which are included in the balance sheet and goodwill on consolidation calculations at £729,083 and £861,316 respectively, by using other audit procedures. Consequently we were unable to determine whether any adjustment to this amount was necessary. In addition, were any adjustment to the inventory balance or goodwill on consolidation to be required, the strategic report would also need to be amended.


Except for the possible effects of the matter described in the basis for qualified opinion section of our report, in our opinion, based on the work undertaken in the course of the audit:

-


the information given in the Strategic Report and the Report of the Directors for the financial year for



which the financial statements are prepared is consistent with the financial statements; and


-


the Strategic Report and the Report of the Directors have been prepared in accordance with applicable



legal requirements.



Matters on which we are required to report by exception

Except for the matter described in the basis for qualified opinion section of our report, in the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.


Arising solely from the limitation on the scope of our work relating to inventory and goodwill on consolidation, referred to above:

-


we have not obtained all the information and explanations that we considered necessary for the



purpose of our audit; and


-


we were unable to determine whether adequate accounting records have been kept.



We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to

report to you if, in our opinion:

-


returns adequate for our audit have not been received from branches not visited by us; or


-


the financial statements are not in agreement with the accounting records and returns; or


-


certain disclosures of directors' remuneration specified by law are not made



REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

WHITEHOUSE INDUSTRIES LIMITED



Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.


REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

WHITEHOUSE INDUSTRIES LIMITED



Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion.  Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.


The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:


Enquiring of management and employees, including obtaining and reviewing supporting documentation, concerning the company's policies and procedures relating to:

-


Identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;


-


Detecting and responding to the risks of fraud and whether they had knowledge of any actual, suspected or alleged fraud; and


-


The internal controls established to mitigate risks related to fraud or non-compliance with laws and regulations.



We obtained an understanding of the legal and regulatory frameworks applicable to the company based on our understanding of the company and sector experience and discussions with management. The most significant considerations for the company are the Companies Act 2006, corporate taxes and VAT legislation, employment taxes, health and safety and the Bribery Act 2010.


We carried out discussions among the engagement team, who also undertook the audit testing, to assess how and where fraud might occur in the financial statements and any potential indicators of fraud. As part of these discussions, we identified potential for fraud in the following areas:

-


management override of control; and


-


revenue recognition, particularly in respect of delivery of goods



We designed and executed procedures in line with our responsibilities to detect material misstatements in respect of irregularities, including fraud. These procedures, together with the extent to which they are capable of detecting irregularities, including fraud, are detailed below:

-


We critically assessed the appropriateness and tested the application of the revenue and cost recognition policies.


-


We tested the appropriateness of accounting journals and other adjustments made in the preparation of the financial statements. We used data assurance techniques to identify and analyse the complete population of all journals in the year to identify and substantively test any which we considered were indicative of management override.


-


We reviewed the company's accounting policies for non-compliance with relevant standards. Our work also included considering significant accounting estimates for evidence of misstatement or possible bias and testing any significant transactions that appeared to be outside the normal course of business.


-


We made enquiries of management and reviewed correspondence with the relevant authorities to identify any irregularities or instances of non-compliance with laws and regulations.



We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members, including internal specialists, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.


REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

WHITEHOUSE INDUSTRIES LIMITED



Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.





Mark Spafford FCA FCCA (Senior Statutory Auditor)

for and on behalf of Luckmans Duckett Parker Limited

Chartered Accountants

Statutory Auditors

1110 Elliott Court

Herald Avenue

Coventry Business Park

Coventry

West Midlands

CV5 6UB


28 May 2025


WHITEHOUSE INDUSTRIES LIMITED (REGISTERED NUMBER: 11937577)



CONSOLIDATED

STATEMENT OF INCOME AND

RETAINED EARNINGS

for the year ended 31 August 2024



2024

2023



(Unaudited)



Notes

£   

£   

£   



TURNOVER

3

7,922,445


8,381,387




Cost of sales

5,387,759


5,529,915



GROSS PROFIT

2,534,686


2,851,472




Administrative expenses

3,419,788


3,576,960



(885,102

)

(725,488

)



Other operating income

-


1,316



OPERATING LOSS

5

(885,102

)

(724,172

)



Income from fixed asset investments

26,654


17,217



Interest receivable and similar income

5,853


9,017



32,507

26,234

(852,595

)

(697,938

)


Gain/(loss) on revaluation of investments

300,743


37,042



(551,852

)

(660,896

)



Interest payable and similar expenses

6

7,155


13,172



LOSS BEFORE TAXATION

(559,007

)

(674,068

)



Tax on loss

7

193,539


157,742



LOSS FOR THE FINANCIAL YEAR

(752,546

)

(831,810

)



Retained earnings at beginning of year

8,025,826


8,998,440




Dividends

9

(66,000

)

(61,000

)



RETAINED EARNINGS FOR THE

GROUP AT END OF YEAR

7,207,280


8,105,630




Loss attributable to:

Owners of the parent

(828,382

)

(911,614

)


Non-controlling interests

75,836


79,804



(752,546

)

(831,810

)



WHITEHOUSE INDUSTRIES LIMITED (REGISTERED NUMBER: 11937577)



CONSOLIDATED BALANCE SHEET

31 August 2024



2024

2023



(Unaudited)



Notes

£   

£   

£   


FIXED ASSETS

Intangible assets

10

3,612,286


5,020,310



Tangible assets

11

1,109,286


793,189



Investments

12

2,607,934


2,302,522



7,329,506


8,116,021




CURRENT ASSETS

Stocks

13

683,788


861,316



Debtors

14

1,465,504


1,411,556



Cash at bank and in hand

1,241,937


1,682,876



3,391,229


3,955,748



CREDITORS

Amounts falling due within one year

15

2,070,576


2,665,822



NET CURRENT ASSETS

1,320,653


1,289,926



TOTAL ASSETS LESS CURRENT

LIABILITIES

8,650,159


9,405,947




CREDITORS

Amounts falling due after more than one

year

16

-


(75,000

)



PROVISIONS FOR LIABILITIES

19

(330,319

)

(192,562

)


NET ASSETS

8,319,840


9,138,385




CAPITAL AND RESERVES

Called up share capital

20

100,000


100,000



Retained earnings

21

7,131,444


8,025,826



SHAREHOLDERS' FUNDS

7,231,444


8,125,826




NON-CONTROLLING INTERESTS

22

1,088,396


1,012,559



TOTAL EQUITY

8,319,840


9,138,385




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:






S E J Whitehouse - Director



WHITEHOUSE INDUSTRIES LIMITED (REGISTERED NUMBER: 11937577)



COMPANY BALANCE SHEET

31 August 2024



2024

2023



(Unaudited)



Notes

£   

£   

£   


FIXED ASSETS

Intangible assets

10

-


-



Tangible assets

11

-


-



Investments

12

2,608,014


2,302,602



2,608,014


2,302,602




CURRENT ASSETS

Debtors

14

8,129,846


8,320,055



Cash at bank and in hand

258,015


737,430



8,387,861


9,057,485



CREDITORS

Amounts falling due within one year

15

1,149,115


1,703,416



NET CURRENT ASSETS

7,238,746


7,354,069



TOTAL ASSETS LESS CURRENT

LIABILITIES

9,846,760


9,656,671




CREDITORS

Amounts falling due after more than one

year

16

-


(75,000

)



PROVISIONS FOR LIABILITIES

19

(54,792

)

-



NET ASSETS

9,791,968


9,581,671




CAPITAL AND RESERVES

Called up share capital

20

100,000


100,000



Retained earnings

21

9,691,968


9,481,671



SHAREHOLDERS' FUNDS

9,791,968


9,581,671




Company's profit for the financial year

276,297


177,194




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:






S E J Whitehouse - Director



WHITEHOUSE INDUSTRIES LIMITED (REGISTERED NUMBER: 11937577)



CONSOLIDATED CASH FLOW STATEMENT

for the year ended 31 August 2024



2024


2023


(Unaudited)


Notes

£   

£   


Cash flows from operating activities

Cash generated from operations

1

614,547


1,684,410



Interest paid

(1,655

)

(2,888

)


Tax paid

(77,342

)

(284,463

)


Net cash from operating activities

535,550


1,397,059




Cash flows from investing activities

Purchase of tangible fixed assets

(494,390

)

(466,257

)


Purchase of fixed asset investments

(151,079

)

(287,025

)


Sale of tangible fixed assets

53,779


7,000



Sale of fixed asset investments

147,694


293,068



Interest received

5,853


9,017



Dividends received

26,654


17,217



Net cash from investing activities

(411,489

)

(426,980

)



Cash flows from financing activities

Amount introduced by directors

-


160,000



Amount withdrawn by directors

(515,000

)

(90,000

)


Equity dividends paid

(50,000

)

(61,000

)


Net cash from financing activities

(565,000

)

9,000




(Decrease)/increase in cash and cash equivalents

(440,939

)

979,079



Cash and cash equivalents at

beginning of year

2

1,682,876


703,797




Cash and cash equivalents at end of

year

2

1,241,937


1,682,876




WHITEHOUSE INDUSTRIES LIMITED (REGISTERED NUMBER: 11937577)



NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT

for the year ended 31 August 2024


1.

RECONCILIATION OF LOSS BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS



2024


2023


(Unaudited)

£   

£   



Loss before taxation

(559,007

)

(674,068

)



Depreciation charges

1,574,901


1,522,325




(Profit)/loss on disposal of fixed assets

(43,643

)

25,234




Gain on revaluation of fixed assets

(300,743

)

(37,042

)



Finance costs

7,155


13,172




Finance income

(32,507

)

(26,234

)


646,156


823,387




Decrease/(increase) in stocks

177,528


(132,233

)



(Increase)/decrease in trade and other debtors

(32,389

)

1,071,778




Decrease in trade and other creditors

(176,748

)

(78,522

)



Cash generated from operations

614,547


1,684,410




2.

CASH AND CASH EQUIVALENTS



The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:



Year ended 31 August 2024


31.8.24


1.9.23

£   

£   



Cash and cash equivalents

1,241,937


1,682,876




Year ended 31 August 2023


31.8.23


1.9.22


(Unaudited)


£   

£   



Cash and cash equivalents

1,682,876


703,797





WHITEHOUSE INDUSTRIES LIMITED (REGISTERED NUMBER: 11937577)



NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT

for the year ended 31 August 2024


3.

ANALYSIS OF CHANGES IN NET FUNDS



Other



non-cash



At 1.9.23

Cash flow

changes

At 31.8.24

£   

£   

£   

£   



Net cash



Cash at bank


and in hand

1,682,876


(440,939

)

1,241,937



1,682,876


(440,939

)

1,241,937




Debt


Debts falling due


within 1 year

(100,000

)

-


25,000


(75,000

)



Debts falling due


after 1 year

(75,000

)

-


75,000


-



(175,000

)

-


100,000


(75,000

)



Total

1,507,876


(440,939

)

100,000


1,166,937




WHITEHOUSE INDUSTRIES LIMITED (REGISTERED NUMBER: 11937577)



NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

for the year ended 31 August 2024


1.

STATUTORY INFORMATION



Whitehouse Industries 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 General 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.    



Critical accounting judgements and key sources of estimation uncertainty

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.


Turnover


Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in respect of precision engineering and the supply of fasteners, fixings and other related products and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.



The company recognises revenue when (a) the significant risks and rewards of ownership have been transferred to the buyer; (b) the company retains no continuing involvement or control over the goods; (c) the amount of revenue can be measured reliably and (d) it is probable that future economic benefits will flow to the entity.



Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over it estimated life of 5 years.

Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over it estimated life of 5 years.


Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

WHITEHOUSE INDUSTRIES LIMITED (REGISTERED NUMBER: 11937577)



NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

for the year ended 31 August 2024


2.

ACCOUNTING POLICIES - continued



Tangible fixed assets


Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.  


Long leasehold

-

10% on cost


Plant and machinery

-      

33% on cost, 20% on cost, 10% on cost and 10% on reducing balance


Fixtures and fittings

-    

33% on cost, 20% on cost and 10% on cost


Motor vehicles

-

25% on cost


Computer equipment

-  

33% on cost and 20% on cost


The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and i s credited or charged to profit or loss.

Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.

If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.


Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met, and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

WHITEHOUSE INDUSTRIES LIMITED (REGISTERED NUMBER: 11937577)



NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

for the year ended 31 August 2024


2.

ACCOUNTING POLICIES - continued



Stocks


Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.



Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.



At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.



Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.


Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled, or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.


Research and development

Expenditure on research and development is written off in the year in which it is incurred.



Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.


Leasing commitments


Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.


WHITEHOUSE INDUSTRIES LIMITED (REGISTERED NUMBER: 11937577)



NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

for the year ended 31 August 2024


2.

ACCOUNTING POLICIES - continued



Pension costs and other post-retirement benefits


The group operates a defined contribution pension scheme.  Contributions payable to the group's pension scheme are charged to profit or loss in the period to which they relate.


Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.


Cash at bank and in hand


Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.



Basic financial assets


Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.



Classification of financial liabilities


Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.



Basic financial liabilities


Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.



Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.



Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.



Equity instruments


Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.


WHITEHOUSE INDUSTRIES LIMITED (REGISTERED NUMBER: 11937577)



NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

for the year ended 31 August 2024


3.

TURNOVER



The turnover and loss before taxation are attributable to the principal activities of the group.



An analysis of turnover by geographical market is given below:



2024


2023


(Unaudited)

£   

£   



United Kingdom

6,849,233


7,063,593




Exports

1,073,212


1,317,794



7,922,445


8,381,387




4.

EMPLOYEES AND DIRECTORS


2024


2023


(Unaudited)

£   

£   



Wages and salaries

1,690,504


1,788,052




Social security costs

168,524


171,417




Other pension costs

68,505


229,638



1,927,533


2,189,107





The average number of employees during the year was as follows:


2024


2023


(Unaudited)



Administration

9


9




Production and warehouse

34


35




Sales

12


12



55


56





The average number of employees by undertakings that were proportionately consolidated during the year was NIL (2023 - NIL).



2024


2023


(Unaudited)

£   

£   



Directors' remuneration

-


-




5.

OPERATING LOSS



The operating loss is stated after charging/(crediting):



2024


2023


(Unaudited)

£   

£   



Hire of plant and machinery

-


1,444




Other operating leases

121,977


109,261




Depreciation - owned assets

166,873


114,304




(Profit)/loss on disposal of fixed assets

(43,643

)

25,234




Goodwill amortisation

1,408,024


1,408,024




Auditors' remuneration

19,500


-




WHITEHOUSE INDUSTRIES LIMITED (REGISTERED NUMBER: 11937577)



NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

for the year ended 31 August 2024


6.

INTEREST PAYABLE AND SIMILAR EXPENSES



2024


2023


(Unaudited)

£   

£   



Loan note interest

7,155


13,134




HMRC interest

-


38



7,155


13,172




7.

TAXATION



Analysis of the tax charge


The tax charge on the loss for the year was as follows:


2024


2023


(Unaudited)

£   

£   



Current tax:


UK corporation tax

56,072


46,557




Prior year tax adjustment

(289

)

(1,136

)



Total current tax

55,783


45,421





Deferred tax

137,756


112,321




Tax on loss

193,539


157,742





Reconciliation of total tax charge included in profit and loss


The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:



2024


2023


(Unaudited)

£   

£   



Loss before tax

(559,007

)

(674,068

)



Loss multiplied by the standard rate of corporation tax in the UK of

25 % (2023 - 25 %)  

(139,752

)

(168,517

)




Effects of:


Expenses not deductible for tax purposes

7,931


10,912




Income not taxable for tax purposes

(6,664

)

(4,304

)



Utilisation of tax losses

-


(34,649

)



Adjustments to tax charge in respect of previous periods

(289

)

(1,136

)



Adjustment to deferred tax charge in respect of previous periods

915


(727

)



Super deduction capital allowances  

-


(10,990

)



Change in rate of taxation  

-


17,945




Marginal rate relief  

(160

)

(74

)



Unrealised (gains) / losses on revaluation of investments  

(20,127

)

(9,261

)



(Utilisation) / carry forward of capital losses  

(321

)

6,537




Amortisation of goodwill on consolidation  

352,006


352,006




Total tax charge

193,539


157,742




WHITEHOUSE INDUSTRIES LIMITED (REGISTERED NUMBER: 11937577)



NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

for the year ended 31 August 2024


8.

INDIVIDUAL INCOME STATEMENT



As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.



9.

DIVIDENDS


2024


2023


(Unaudited)

£   

£   



Preference shares of £1 each



Interim

66,000


61,000




10.

INTANGIBLE FIXED ASSETS



Group


Goodwill

£   



COST


At 1 September 2023


and 31 August 2024

7,040,119




AMORTISATION


At 1 September 2023

2,019,809




Amortisation for year

1,408,024




At 31 August 2024

3,427,833




NET BOOK VALUE


At 31 August 2024

3,612,286




At 31 August 2023

5,020,310




WHITEHOUSE INDUSTRIES LIMITED (REGISTERED NUMBER: 11937577)



NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

for the year ended 31 August 2024


11.

TANGIBLE FIXED ASSETS



Group


Fixtures


Long


Plant and


and


leasehold


machinery


fittings

£   

£   

£   



COST


At 1 September 2023

16,820


720,549


97,589




Additions

-


471,854


-




Disposals

-


(14,233

)

-




At 31 August 2024

16,820


1,178,170


97,589




DEPRECIATION


At 1 September 2023

6,761


97,012


17,470




Charge for year

4,828


116,852


22,907




Eliminated on disposal

-


(6,400

)

-




At 31 August 2024

11,589


207,464


40,377




NET BOOK VALUE


At 31 August 2024

5,231


970,706


57,212




At 31 August 2023

10,059


623,537


80,119





Motor


Computer



vehicles


equipment


Totals

£   

£   

£   



COST


At 1 September 2023

102,793


3,693


941,444




Additions

22,536


-


494,390




Disposals

(7,451

)

-


(21,684

)



At 31 August 2024

117,878


3,693


1,414,150




DEPRECIATION


At 1 September 2023

26,423


589


148,255




Charge for year

21,497


789


166,873




Eliminated on disposal

(3,864

)

-


(10,264

)



At 31 August 2024

44,056


1,378


304,864




NET BOOK VALUE


At 31 August 2024

73,822


2,315


1,109,286




At 31 August 2023

76,370


3,104


793,189




WHITEHOUSE INDUSTRIES LIMITED (REGISTERED NUMBER: 11937577)



NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

for the year ended 31 August 2024


12.

FIXED ASSET INVESTMENTS



Group


Listed


investments

£   



COST OR VALUATION


At 1 September 2023

2,302,522




Additions

123,406




Disposals

(146,410

)



Revaluations

300,743




Exchange differences

1,019




Dividends received

26,654




At 31 August 2024

2,607,934




NET BOOK VALUE


At 31 August 2024

2,607,934




At 31 August 2023

2,302,522





Cost or valuation at 31 August 2024 is represented by:



Listed


investments

£   



Valuation in 2022

(117,551

)



Valuation in 2023

37,042




Valuation in 2024

300,743




Cost

2,387,700



2,607,934




Company


Shares in



group


Listed



undertakings


investments


Totals

£   

£   

£   



COST OR VALUATION


At 1 September 2023

80


2,302,522


2,302,602




Additions

-


123,406


123,406




Disposals

-


(146,410

)

(146,410

)



Revaluations

-


300,743


300,743




Exchange differences

-


1,019


1,019




Dividends received

-


26,654


26,654




At 31 August 2024

80


2,607,934


2,608,014




NET BOOK VALUE


At 31 August 2024

80


2,607,934


2,608,014




At 31 August 2023

80


2,302,522


2,302,602




WHITEHOUSE INDUSTRIES LIMITED (REGISTERED NUMBER: 11937577)



NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

for the year ended 31 August 2024


12.

FIXED ASSET INVESTMENTS - continued



Company



Cost or valuation at 31 August 2024 is represented by:



Shares in



group


Listed



undertakings


investments


Totals

£   

£   

£   



Valuation in 2022

-


(117,551

)

(117,551

)



Valuation in 2023

-


37,042


37,042




Valuation in 2024

-


300,743


300,743




Cost

80


2,387,700


2,387,780



80


2,607,934


2,608,014





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



Subsidiaries



Stulou Limited


Registered office: 1110 Elliott Court, Coventry Business Park, Herald Avenue, Coventry, West Midlands, CV5 6UB  


Nature of business: Holding Company


%


Class of shares:

holding



A Ordinary

100.00




Nutters Fastenings Limited


Registered office: Units 3, 4 & 5 Maple Business Park, Walter Street, Birmingham, West Midlands, B7 5ET  


Nature of business: The supply of nuts, bolts and other fasteners


%


Class of shares:

holding



Ordinary

80.00




Ernest Engineering Limited


Registered office: 1110 Elliott Court, Coventry Business Park, Herald Avenue, Coventry, West Midlands, CV5 6UB  


Nature of business: Holding company


%


Class of shares:

holding



Ordinary80%
B Ordinary80%
C Ordinary80%



Bailey & Wade Engineering Co Limited


Registered office: 1110 Elliott Court, Coventry Business Park, Herald Avenue, Coventry, West Midlands, CV5 6UB  


Nature of business: The manufacture of precision turned parts


%


Class of shares:

holding



Ordinary

80.00



A Ordinary

80.00



WHITEHOUSE INDUSTRIES LIMITED (REGISTERED NUMBER: 11937577)



NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

for the year ended 31 August 2024


12.

FIXED ASSET INVESTMENTS - continued



Anchor Inserts Limited


Registered office: 1110 Elliott Court, Coventry Business Park, Herald Avenue, Coventry, West Midlands, CV5 6UB  


Nature of business: Manufacture of threaded inserts


%


Class of shares:

holding



Ordinary

80.00



A Ordinary

80.00




Fixings plus limited


Registered office: 1110 Elliott Court, Coventry Business Park, Herald Avenue, Coventry, West Midlands, CV5 6UB  


Nature of business: Wholesaler of fixings and fasteners


%


Class of shares:

holding



Ordinary

80.00




13.

STOCKS



Group


2024

2023



(Unaudited


£   

£   



Stocks

583,986


753,280




Work-in-progress

99,802


108,036



683,788


861,316




14.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR




Group


Company


2024

2023

2024

2023



(Unaudited)


(Unaudited)

£   

£   

£   

£   



Trade debtors

1,241,381


1,244,876


-


-




Amounts owed by group undertakings

-


-


8,085,229


8,310,112




Other debtors

1,786


3,512


-


-




Tax

56,497


34,938


4,659


3,716




Prepayments

165,840


128,230


39,958


6,227



1,465,504


1,411,556


8,129,846


8,320,055




WHITEHOUSE INDUSTRIES LIMITED (REGISTERED NUMBER: 11937577)



NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

for the year ended 31 August 2024


15.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR




Group


Company


2024

2023

2024

2023



(Unaudited)


(Unaudited)

£   

£   

£   

£   



Other loans (see note 17)

75,000


100,000


75,000


100,000




Trade creditors

718,134


749,105


14,273


27,856




Amounts owed to group undertakings

-


-


58,653


113,130




Social security and other taxes

75,909


93,688


9,085


13,599




VAT

67,986


110,899


16,205


85,868




Other creditors

28,869


11,850


18,401


1,340




Directors' current accounts

1,024,010


1,432,392


944,010


1,352,392




Accruals and deferred income

80,668


167,888


13,488


9,231



2,070,576


2,665,822


1,149,115


1,703,416




16.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE

YEAR




Group


Company


2024

2023

2024

2023



(Unaudited)


(Unaudited)

£   

£   

£   

£   



Other loans (see note 17)

-


75,000


-


75,000




17.

LOANS



An analysis of the maturity of loans is given below:



Group


Company


2024

2023

2024

2023



(Unaudited)


(Unaudited)

£   

£   

£   

£   



Amounts falling due within one year or

on demand:



Loan notes repayable in


less than one year by


instalments

75,000


100,000


75,000


100,000



75,000


100,000


75,000


100,000




Amounts falling due between one and

two years:



Loan notes repayable in


1 to 2 years by instalments

-


75,000


-


75,000



-


75,000


-


75,000




18.

LEASING AGREEMENTS



Minimum lease payments fall due as follows:


WHITEHOUSE INDUSTRIES LIMITED (REGISTERED NUMBER: 11937577)



NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

for the year ended 31 August 2024



Group


Non-cancellable

operating leases


2024

2023



(Unaudited)

£   

£   



Within one year

96,265


96,792




Between one and five years

113,626


202,750



209,891


299,542





Company


Non-cancellable

operating leases


2024

2023



(Unaudited)

£   

£   



Within one year

15,415


17,985




Between one and five years

30,831


46,246



46,246


64,231




19.

PROVISIONS FOR LIABILITIES



Group


Company


2024

2023

2024

2023



(Unaudited)


(Unaudited)

£   

£   

£   

£   



Deferred tax


Accelerated capital allowances

277,322


195,009


-


-




Other timing differences

52,997


(2,447

)

54,792


-



330,319


192,562


54,792


-





Group


Deferred



tax


£   



Balance at 1 September 2023

192,562




Charge to  Income Statement during year

137,757




Balance at 31 August 2024

330,319





Company


Deferred



tax


£   



Charge to  Income Statement during year

54,792




Balance at 31 August 2024

54,792




WHITEHOUSE INDUSTRIES LIMITED (REGISTERED NUMBER: 11937577)



NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

for the year ended 31 August 2024


20.

CALLED UP SHARE CAPITAL



Allotted, issued and fully paid:


Number:

Class:

Nominal

2024

2023



value:

£   

£   



34,000

Ordinary

£1

34,000


34,000




66,000

Preference

£1

66,000


66,000



100,000


100,000




21.

RESERVES



Group


Retained


earnings

£   




At 1 September 2023

8,025,826




Deficit for the year

(828,382

)



Dividends

(66,000

)



At 31 August 2024

7,131,444





Company


Retained


earnings

£   




At 1 September 2023

9,481,671




Profit for the year

276,297




Dividends

(66,000

)



At 31 August 2024

9,691,968





22.

NON-CONTROLLING INTERESTS



Group


Non-controlling interests





2024



2023



(Unaudited)





£



£



At 1 September 2023


1,012,559



932,755



Profit attributable to non-controlling interests


75,836



79,804



At 31 August 2024


1,088,398



1,012,559



23.

RELATED PARTY DISCLOSURES



Other related parties




At 31st August 2024 the company owed £1,099,010 (2023 - £1,607,392) to Mrs E V Whitehouse and Mr S E J Whitehouse in respect of their directors loan account and loan notes.