1 false false false false false false false false false false true false false false false false false No description of principal activity 2024-01-01 Sage Accounts Production Advanced 2024 - FRS102_2024 200 200 6 6 194 67,261 10 67,251 67,251 67,261 xbrli:pure xbrli:shares iso4217:GBP 10973433 2024-01-01 2024-12-31 10973433 2024-12-31 10973433 2023-12-31 10973433 2023-01-01 2023-12-31 10973433 2023-12-31 10973433 2022-12-31 10973433 bus:Director1 2024-01-01 2024-12-31 10973433 core:WithinOneYear 2024-12-31 10973433 core:WithinOneYear 2023-12-31 10973433 core:AfterOneYear 2024-12-31 10973433 core:AfterOneYear 2023-12-31 10973433 core:ShareCapital 2024-12-31 10973433 core:ShareCapital 2023-12-31 10973433 core:RetainedEarningsAccumulatedLosses 2024-12-31 10973433 core:RetainedEarningsAccumulatedLosses 2023-12-31 10973433 core:CostValuation core:Non-currentFinancialInstruments 2023-12-31 10973433 core:DisposalsRepaymentsInvestments core:Non-currentFinancialInstruments 2024-12-31 10973433 core:CostValuation core:Non-currentFinancialInstruments 2024-12-31 10973433 core:Non-currentFinancialInstruments 2024-12-31 10973433 core:Non-currentFinancialInstruments 2023-12-31 10973433 bus:Director1 2023-12-31 10973433 bus:Director1 2024-12-31 10973433 bus:Director1 2023-12-31 10973433 bus:Director1 2023-01-01 2023-12-31 10973433 bus:SmallEntities 2024-01-01 2024-12-31 10973433 bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 10973433 bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 10973433 bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 10973433 bus:FullAccounts 2024-01-01 2024-12-31 10973433 core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 10973433 core:FurnitureFittings 2024-12-31 10973433 core:FurnitureFittingsToolsEquipment 2024-12-31
COMPANY REGISTRATION NUMBER: 10973433
Whitefields Group Ltd
Filleted Unaudited Financial Statements
31 December 2024
Whitefields Group Ltd
Statement of Financial Position
31 December 2024
2024
2023
Note
£
£
Fixed assets
Tangible assets
5
194
Investments
6
67,251
67,261
--------
--------
67,445
67,261
Current assets
Debtors
7
1,968
438
Cash at bank and in hand
764
43
-------
----
2,732
481
Creditors: amounts falling due within one year
8
8,182
5,695
-------
-------
Net current liabilities
5,450
5,214
--------
--------
Total assets less current liabilities
61,995
62,047
Creditors: amounts falling due after more than one year
9
2,248
2,410
--------
--------
Net assets
59,747
59,637
--------
--------
Capital and reserves
Called up share capital
58,050
58,050
Profit and loss account
1,697
1,587
--------
--------
Shareholders funds
59,747
59,637
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Whitefields Group Ltd
Statement of Financial Position (continued)
31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 11 June 2025 , and are signed on behalf of the board by:
Mr GR Lee
Director
Company registration number: 10973433
Whitefields Group Ltd
Notes to the Financial Statements
Year ended 31 December 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Whitefields, Daisy Lane, Mill Hill, Edenbridge, Kent, TN8 5DB, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, 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 the 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.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
33% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units .
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Equipment
£
Cost
At 1 January 2024
Additions
200
----
At 31 December 2024
200
----
Depreciation
At 1 January 2024
Charge for the year
6
----
At 31 December 2024
6
----
Carrying amount
At 31 December 2024
194
----
At 31 December 2023
----
6. Investments
Shares in group undertakings
£
Cost
At 1 January 2024
67,261
Disposals
( 10)
--------
At 31 December 2024
67,251
--------
Impairment
At 1 January 2024 and 31 December 2024
--------
Carrying amount
At 31 December 2024
67,251
--------
At 31 December 2023
67,261
--------
Whitefields Building Services Ltd - 100% ordinary shares.
Whitefields Central Services Ltd - 100% ordinary shares.
Whitefields Investment Holdings Limited - 100% ordinary and 100% A ordinary shares.
Whitefields Management & Consulting Limited - 100% ordinary shares.
Whitefield Property Holdings Limited - 100% A ordinary and 100% B ordinary shares. The company has no investment in either of the 2 classes of 6% Redeemable Cumulative Preference shares of Whitefield Property Holdings Limited, but Whitefields Investment Holdings Limited owns nearly 5% of the issued Redeemable Cumulative Preference shares in each class.
Whitefields Books Limited which had never traded was wound up this year. Whitefields Building Services Ltd and Whitefields Central Services Ltd both ceased trading in the third quarter of the year and their future activities have not been determined.
7. Debtors
2024
2023
£
£
Amounts owed by group undertakings and undertakings in which the company has a participating interest
1,465
Other debtors
503
438
-------
----
1,968
438
-------
----
8. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
142
Amounts owed to group undertakings and undertakings in which the company has a participating interest
5,021
2,191
Corporation tax
43
Short term borrowings repayable within 1 year
969
Other creditors
3,161
2,350
-------
-------
8,182
5,695
-------
-------
9. Creditors: amounts falling due after more than one year
2024
2023
£
£
Long term borrowings repayable after more than 1 year
2,248
2,410
-------
-------
The new loan is repayable by 2027. The previous loan due for repayment in 2024 is now disclosed as short term borrowing as repayment is due within the year.
10. Ultimate controlling party
The sole director of the company is also the only shareholder and therefore the ultimate controlling party.
11. Director's advances, credits and guarantees
During the year the director entered into the following advances and credits with the company:
2024
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr GR Lee
( 2,350)
( 380)
162
( 2,568)
-------
----
----
-------
2023
Balance brought forward
Advances/ (credits) to the director
Amounts repaid
Balance outstanding
£
£
£
£
Mr GR Lee
( 2,350)
( 2,350)
----
-------
----
-------
The Director has advanced monies to pay some company expenses. He has never borrowed from the company. Repayments to the Director are shown. There is no interest payable on these loans from the Director.