Registered number
01614321
Whitebirk Finance Limited
Filleted Accounts
31 August 2024
Whitebirk Finance Limited
Registered number: 01614321
Balance Sheet
as at 31 August 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 14,354 19,595
Investment Properties 4 2,800,000 2,800,000
2,814,354 2,819,595
Current assets
Debtors 5 506,842 620,994
Cash at bank and in hand 529,933 367,819
1,036,775 988,813
Creditors: amounts falling due within one year 6 (730,810) (723,145)
Net current assets 305,965 265,668
Total assets less current liabilities 3,120,319 3,085,263
Creditors: amounts falling due after more than one year 7 (2,075,984) (2,075,984)
Provisions for liabilities (270,000) (270,000)
Net assets 774,335 739,279
Capital and reserves
Called up share capital 5,000 5,000
Profit and loss account 769,335 734,279
Shareholders' funds 774,335 739,279
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.
HA Cann
Director
Approved by the board on 3 June 2025
Whitebirk Finance Limited
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 head office management services.
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:
Fixtures, fittings and office equipment over 10 years
Investment properties
Investment property is carried at fair value determined annually by external valuers or the directors and derived from the current market rents and investment property yields from comparable real estate adjusted as necessary. No depreciation is provided. Changes in fair value are recognised in profit or loss.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 4 3
3 Tangible fixed assets
Office fixtures & equipment
£
Cost
At 1 September 2023 278,674
At 31 August 2024 278,674
Depreciation
At 1 September 2023 259,079
Charge for the year 5,241
At 31 August 2024 264,320
Net book value
At 31 August 2024 14,354
At 31 August 2023 19,595
4 Investment Properties
Other
investments
£
Cost
At 1 September 2023 2,800,000
At 31 August 2024 2,800,000
5 Debtors 2024 2023
£ £
Trade debtors 89,663 256,932
Amounts owed by group undertakings and undertakings in which the company has a participating interest 255,083 255,083
Other debtors 162,096 108,979
506,842 620,994
Amounts due after more than one year included above 255,083 255,083
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 19,050 13,319
Amounts owed to group undertakings and undertakings in which the company has a participating interest 655,083 655,083
Taxation and social security costs (2,389) (2,755)
Other creditors 59,066 57,498
730,810 723,145
7 Creditors: amounts falling due after one year 2024 2023
£ £
Other creditors 2,075,984 2,075,984
8 Events after the reporting date
The profit and loss account includes the cumulative retained earnings of the company comprising both distributable and non-distributable reserves.
9 Other information
Whitebirk Finance Limited is a private company limited by shares and incorporated in England. Its registered office is:
Bowland House
Philips Road
Blackburn
Lancashire
BB1 5NA
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