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REGISTERED NUMBER: SC088844 (Scotland)














Financial Statements

for the Year Ended 31 January 2025

for

White House Products Ltd

White House Products Ltd (Registered number: SC088844)






Contents of the Financial Statements
for the Year Ended 31 January 2025




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


White House Products Ltd

Company Information
for the Year Ended 31 January 2025







DIRECTORS: D MacMillan
A MacMillan
C Taylor
C Aitkenhead





SECRETARY: Mrs L.S. MacMillan





REGISTERED OFFICE: The White House
Finlaystone
Langbank
PA14 6TJ





REGISTERED NUMBER: SC088844 (Scotland)





AUDITORS: Messrs. Henderson & Company
Chartered Accountants
Statutory Auditor
73 Union Street
Greenock
PA16 8BG

White House Products Ltd (Registered number: SC088844)

Statement of Financial Position
31 January 2025

2025 2024
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 508,844 623,629
Investments 5 152,801 159,974
661,645 783,603

CURRENT ASSETS
Stocks 3,013,924 2,843,303
Debtors 6 396,910 491,887
Cash at bank 168,944 402,065
3,579,778 3,737,255
CREDITORS
Amounts falling due within one year 7 760,433 1,089,296
NET CURRENT ASSETS 2,819,345 2,647,959
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,480,990

3,431,562

CREDITORS
Amounts falling due after more than one
year

8

(6,667

)

(26,667

)

PROVISIONS FOR LIABILITIES (36,794 ) (62,997 )
NET ASSETS 3,437,529 3,341,898

CAPITAL AND RESERVES
Called up share capital 124,192 124,192
Retained earnings 3,313,337 3,217,706
SHAREHOLDERS' FUNDS 3,437,529 3,341,898

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 May 2025 and were signed on its behalf by:





A MacMillan - Director


White House Products Ltd (Registered number: SC088844)

Notes to the Financial Statements
for the Year Ended 31 January 2025

1. STATUTORY INFORMATION

White House Products Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 2% on cost
Plant and machinery etc - 33% on cost and 25% on cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate or if there is an indication of significant change since the last reporting date.

Stocks
Stocks are stated at the lower of cost and estimated selling price. Cost includes all costs of purchase and other costs incurred in bringing the stock to its present location and condition.

When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amounts of any write downs to stock to net realisable value and all losses of stocks are recognised as an expense in the period in which the write down or loss occurs.


White House Products Ltd (Registered number: SC088844)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

2. ACCOUNTING POLICIES - continued
Taxation
The tax expense for the year comprises current and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The liability for current tax is calculated using tax rates and laws that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are recognised for all taxable timing differences. Deferred tax assets are recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount for deferred tax assets is reviewed at the end of each reporting period 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 recoverd.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or asset realised, based on tax rates and tax laws that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense when they are due. The assets of the plan are held separately from the company in independently administered funds.

Investments
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Cash and cash equivalents
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position bank overdrafts are shown within borrowings in current liabilities.

Debtors
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value and thereafter stated at amortised cost using the effective interest method, less any impairment.

Creditors
Basic financial instruments, including preference shares that are classified as debt, are measured at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is initially measured at fair value and subsequently at amortised cost using the effective interest method.

White House Products Ltd (Registered number: SC088844)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2024 - 25 ) .

4. TANGIBLE FIXED ASSETS
Freehold Plant and Motor Computer
property machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 February 2024 552,166 890,984 56,324 413,940 1,913,414
Additions - 5,656 - - 5,656
At 31 January 2025 552,166 896,640 56,324 413,940 1,919,070
DEPRECIATION
At 1 February 2024 203,239 635,959 37,009 413,578 1,289,785
Charge for year 8,614 104,221 7,244 362 120,441
At 31 January 2025 211,853 740,180 44,253 413,940 1,410,226
NET BOOK VALUE
At 31 January 2025 340,313 156,460 12,071 - 508,844
At 31 January 2024 348,927 255,025 19,315 362 623,629

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 February 2024 159,974
Additions 13,876
Disposals (21,655 )
Revaluations 606
At 31 January 2025 152,801
NET BOOK VALUE
At 31 January 2025 152,801
At 31 January 2024 159,974

Cost or valuation at 31 January 2025 is represented by:

Other
investments
£   
Valuation in 2024 5,410
Valuation in 2025 606
Cost 146,785
152,801

White House Products Ltd (Registered number: SC088844)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 260,440 285,645
Other debtors 136,470 206,242
396,910 491,887

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Bank loans and overdrafts 20,000 20,000
Trade creditors 605,749 946,043
Taxation and social security 103,334 89,705
Other creditors 31,350 33,548
760,433 1,089,296

The 8% Redeemable Preference shares are classified as a current liability since the issuer has an obligation, or potential obligation, to transfer cash or other financial assets to the holder. This liability of £20,000 is included within other creditors. The 8% Redeemable Preference shares are redeemable at par without any premium at the holders option on 31 January in any year. The holders have a right to an annual dividend of 8% out of any profits of the company which are available for distribution. Each share held gives the holder the right to exercise one vote on any Extraordinary or Special Resolution placed before the company in General Meeting. The holders have a right to a share of the surplus assets of the company which in a winding up shall remain after paying off the whole of the company's debts and liabilities and repaying in full the whole paid-up capital of the company, such share to be calculated in accordance with the proportion of the nominal value of the whole paid-up capital of the company which is represented by Redeemable Preference shares.

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2025 2024
£    £   
Bank loans 6,667 26,667

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

David J. Quigg (Senior Statutory Auditor)
for and on behalf of Messrs. Henderson & Company