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REGISTERED NUMBER: 12330750 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024

FOR

WHITE SPACE PROPERTY LTD

WHITE SPACE PROPERTY LTD (REGISTERED NUMBER: 12330750)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024










Page

Statement of Financial Position 1 to 2

Notes to the Financial Statements 3 to 6


WHITE SPACE PROPERTY LTD (REGISTERED NUMBER: 12330750)

STATEMENT OF FINANCIAL POSITION
30 NOVEMBER 2024

30.11.24 30.11.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 1,984 -
Investment property 5 780,000 640,000
781,984 640,000

CURRENT ASSETS
Debtors 6 36,456 6,445
Cash at bank 4,359 25,766
40,815 32,211
CREDITORS
Amounts falling due within one year 7 (12,445 ) (9,772 )
NET CURRENT ASSETS 28,370 22,439
TOTAL ASSETS LESS CURRENT
LIABILITIES

810,354

662,439

CREDITORS
Amounts falling due after more than one
year

8

(705,918

)

(607,590

)

PROVISIONS FOR LIABILITIES (18,490 ) (10,311 )
NET ASSETS 85,946 44,538

CAPITAL AND RESERVES
Called up share capital 1 1
Fair value reserve 78,826 43,956
Retained earnings 7,119 581
85,946 44,538

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

WHITE SPACE PROPERTY LTD (REGISTERED NUMBER: 12330750)

STATEMENT OF FINANCIAL POSITION - continued
30 NOVEMBER 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 4 August 2025 and were signed by:





G K E Phillips - Director


WHITE SPACE PROPERTY LTD (REGISTERED NUMBER: 12330750)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024


1. STATUTORY INFORMATION

White Space Property Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 12330750

Registered office: 20 Squirrel Lane
High Wycombe
HP12 4RS

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 rent received or receivable, excluding discounts.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 20% reducing balance

INVESTMENT PROPERTY
Investment property is included at fair value and is revalued by the directors to its fair value at each reporting date. Any changes in fair value are recognised in other comprehensive income/profit or loss.

Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

FINANCIAL INSTRUMENTS
A financial asset or a financial liability is recognised only when the entity 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.

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.


WHITE SPACE PROPERTY LTD (REGISTERED NUMBER: 12330750)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024


2. ACCOUNTING POLICIES - continued
TAXATION
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
Additions 2,026
At 30 November 2024 2,026
DEPRECIATION
Charge for year 42
At 30 November 2024 42
NET BOOK VALUE
At 30 November 2024 1,984

WHITE SPACE PROPERTY LTD (REGISTERED NUMBER: 12330750)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 December 2023 640,000
Additions 96,951
Revaluations 43,049
At 30 November 2024 780,000
NET BOOK VALUE
At 30 November 2024 780,000
At 30 November 2023 640,000

The investment property has been valued by the director during the year, this is considered the fair
value at 30 November 2024.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Trade debtors 750 -
Other debtors 35,706 6,445
36,456 6,445

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.24 30.11.23
£    £   
Bank loans and overdrafts 2,240 2,240
Taxation and social security 1,145 201
Other creditors 9,060 7,331
12,445 9,772

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.11.24 30.11.23
£    £   
Bank loans 348,312 338,551
Other creditors 357,606 269,039
705,918 607,590

Amounts falling due in more than five years:

Repayable by instalments
Bank loans payable more than
5 years by instalments 339,353 329,592
339,353 329,592

WHITE SPACE PROPERTY LTD (REGISTERED NUMBER: 12330750)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024


9. SECURED DEBTS

The bank loan is secured via a charge over the investment properties held.

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The company owed £357,606 to the director at 30 November 2024 (2023: £269,039). The loan is unsecured and interest free.

11. EVENTS AFTER THE END OF THE REPORTING PERIOD

There were no significant events up to the date of approval of the financial statements by the Board.