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Company No: 06780329 (England and Wales)

WHITE FORMULA UK LIMITED

Unaudited Financial Statements
For the financial year ended 31 December 2024
Pages for filing with the registrar

WHITE FORMULA UK LIMITED

Unaudited Financial Statements

For the financial year ended 31 December 2024

Contents

WHITE FORMULA UK LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 December 2024
WHITE FORMULA UK LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 December 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 11,726 6,673
11,726 6,673
Current assets
Stocks 4 37,745 36,260
Debtors 5 180,840 112,032
Cash at bank and in hand 82,161 112,080
300,746 260,372
Creditors: amounts falling due within one year 6 ( 107,677) ( 72,812)
Net current assets 193,069 187,560
Total assets less current liabilities 204,795 194,233
Creditors: amounts falling due after more than one year 7 ( 3,000) ( 9,000)
Provision for liabilities 8 ( 2,704) ( 1,680)
Net assets 199,091 183,553
Capital and reserves
Called-up share capital 200 200
Profit and loss account 198,891 183,353
Total shareholders' funds 199,091 183,553

For the financial 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.

Directors' responsibilities:

The financial statements of White Formula UK Limited (registered number: 06780329) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

R R White
Director

04 July 2025

WHITE FORMULA UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
WHITE FORMULA UK LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 December 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

White Formula UK Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 1 Claydon Business Park, Great Blakenham, Ipswich, IP6 0NL, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 25 % reducing balance
Office equipment 25 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Income Statement as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Statement of Financial Position date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 9 10

3. Tangible assets

Plant and machinery Vehicles Fixtures and fittings Office equipment Total
£ £ £ £ £
Cost
At 01 January 2024 30,857 8,000 0 6,154 45,011
Additions 0 8,000 912 0 8,912
At 31 December 2024 30,857 16,000 912 6,154 53,923
Accumulated depreciation
At 01 January 2024 26,966 7,414 0 3,958 38,338
Charge for the financial year 973 2,147 190 549 3,859
At 31 December 2024 27,939 9,561 190 4,507 42,197
Net book value
At 31 December 2024 2,918 6,439 722 1,647 11,726
At 31 December 2023 3,891 586 0 2,196 6,673

4. Stocks

2024 2023
£ £
Finished goods 37,745 36,260

5. Debtors

2024 2023
£ £
Trade debtors 112,953 81,309
Amounts owed by related parties 64,870 20,567
Other debtors 3,017 10,156
180,840 112,032

6. Creditors: amounts falling due within one year

2024 2023
£ £
Trade creditors 26,185 27,235
Other taxation and social security 30,189 22,500
Other creditors 51,303 23,077
107,677 72,812

7. Creditors: amounts falling due after more than one year

2024 2023
£ £
Other loans 3,000 9,000

There are no amounts included above in respect of which any security has been given by the small entity.

8. Deferred tax

2024 2023
£ £
At the beginning of financial year ( 1,680) ( 2,217)
(Charged)/credited to the Income Statement ( 1,024) 537
At the end of financial year ( 2,704) ( 1,680)

9. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Amounts owed by the directors to the company 0 8,874
Amounts owed by the company to the directors 35,998 0