| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 31 January 2025 |
| for |
| White House Products Ltd |
| REGISTERED NUMBER: |
| 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: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| 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 |
| Investments | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| 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 |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 |
| Land and buildings | - |
| Plant and machinery etc | - |
| 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 |
| 4. | TANGIBLE FIXED ASSETS |
| Freehold | Plant and | Motor | Computer |
| property | machinery | vehicles | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 February 2024 |
| Additions |
| At 31 January 2025 |
| DEPRECIATION |
| At 1 February 2024 |
| Charge for year |
| At 31 January 2025 |
| NET BOOK VALUE |
| At 31 January 2025 |
| At 31 January 2024 |
| 5. | FIXED ASSET INVESTMENTS |
| Other |
| investments |
| £ |
| COST OR VALUATION |
| At 1 February 2024 |
| Additions |
| Disposals | ( |
) |
| Revaluations |
| At 31 January 2025 |
| NET BOOK VALUE |
| At 31 January 2025 |
| At 31 January 2024 |
| 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 |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 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 |
| 9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |