Registered number
12837967
Addis & Whiteman
Unaudited Filleted Accounts
31 August 2024
Addis & Whiteman
Registered number: 12837967
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 230,000 230,000
Current assets
Debtors 4 56 58
Creditors: amounts falling due within one year 5 (3,241) (3,027)
Net current liabilities (3,185) (2,969)
Total assets less current liabilities 226,815 227,031
Creditors: amounts falling due after more than one year 6 (166,819) (166,819)
Provisions for liabilities (10,629) (10,629)
Net assets 49,367 49,583
Capital and reserves
Called up share capital 380 380
Revaluation reserve 8 45,314 45,314
Profit and loss account 3,673 3,889
Shareholders' funds 49,367 49,583
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Rhys Whiteman
Director
Approved by the board on 23 May 2025
Addis & Whiteman
Notes to the Accounts
for the year ended 31 August 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings No depreciation
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie 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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 0 0
3 Investment Property
Land and buildings
£
Cost
At 1 September 2023 230,000
At 31 August 2024 230,000
Depreciation
At 31 August 2024 -
Net book value
At 31 August 2024 230,000
At 31 August 2023 230,000
Freehold land and buildings: 2024 2023
£ £
Historical cost 174,057 174,057
Cumulative depreciation based on historical cost - -
174,057 174,057
During the 2024 yearend the directors carried out a revaluation of 99 Maindiff Drive held by the Company. The estimated current resale value for the property was established by looking at similar properties for sale in and around it's immediate location. Valuation as at 31st August 2024 was £230,000

The historic cost value of the property was £174,057. The property is not depreciated and any gain or loss under FR102 is transferred to the profit and loss account as non distributable reserves.
4 Debtors 2024 2023
£ £
Other debtors 56 58
5 Creditors: amounts falling due within one year 2024 2023
£ £
Directors Loan - Rhys Whiteman 1,197 900
Directors Loan - Robert Addis 1,197 900
Taxation and social security costs - 431
Other creditors 847 796
3,241 3,027
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 119,293 119,293
Directors loan due after 1yr - Robert Addis 23,763 23,763
Directors loan due after 1yr - Rhys Whiteman 23,763 23,763
166,819 166,819
7 Loans 2024 2023
£ £
Creditors include:
Amounts payable otherwise than by instalment falling due for payment after more than five years 119,293 119,293
8 Revaluation reserve 2024 2023
£ £
At 1 September 2023 45,314 29,114
Gain on revaluation of land and buildings - 16,200
At 31 August 2024 45,314 45,314
9 Related party transactions
None noted
10 Transactions with Directors
During the year Robert Addis used a current account with the company to record amounts due to him and amounts drawn by him. The account shows an amount owed to Rhys Whiteman as director as at 31st August 2024 of £24,960.65 (2023: £24,663.35). The amount does not carry interest and is repayable on demand,however Robert Addis does not expect £23,763.35 of this balance to be repaid within 12 months of the yearend.

During the year Rhys Whiteman used a current account with the company to record amounts due to him and amounts drawn by him. The account shows an amount owed to Robert Addis as director as at 31st August 2024 of £24,960.64 (2023: £24,663.37). The amount does not carry interest and is repayable on demand, however Rhys Whiteman does not expect £23,763.35 of this balance to be repaid within 12 months of the yearend.
11 Controlling party
Robert Addis and Rhys Whiteman each hold 40% of the shareholding and they jointly manage the day to day running of the company and are therefore together the ultimate controlling party of Addis & Whiteman Limited.
12 Other information
Addis & Whiteman is a private company limited by shares and incorporated in England and Wales. Its registered office is:
The Brambles
Llanvetherine
Abergavenny
NP7 8RH
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