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COMPANY REGISTRATION NUMBER: 03406960
J. R. WHYTE LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 December 2024
J. R. WHYTE LIMITED
FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2024
CONTENTS
PAGES
Statement of financial position
1 to 2
Notes to the financial statements
3 to 5
J. R. WHYTE LIMITED
STATEMENT OF FINANCIAL POSITION
31 December 2024
2024
2023
Note
£
£
£
£
FIXED ASSETS
Tangible assets
6
12,519
32,417
CURRENT ASSETS
Stocks
2,000
2,000
Debtors
7
262,404
227,023
Cash at bank and in hand
131,018
189,013
---------
---------
395,422
418,036
CREDITORS: amounts falling due within one year
8
( 261,964)
( 265,120)
---------
---------
NET CURRENT ASSETS
133,458
152,916
---------
---------
TOTAL ASSETS LESS CURRENT LIABILITIES
145,977
185,333
CREDITORS: amounts falling due after more than one year
9
( 16,348)
PROVISIONS
Taxation including deferred tax
( 3,130)
( 8,104)
---------
---------
NET ASSETS
142,847
160,881
---------
---------
CAPITAL AND RESERVES
Called up share capital
30,130
30,130
Profit and loss account
112,717
130,751
---------
---------
SHAREHOLDERS FUNDS
142,847
160,881
---------
---------
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.
Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
J. R. WHYTE LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 December 2024
These financial statements were approved by the board of directors and authorised for issue on 11 August 2025 , and are signed on behalf of the board by:
J.R. Whyte
M.J. Goddard
Chairman
Director
Company registration number: 03406960
J. R. WHYTE LIMITED
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 Farriers Yard, 10C Ashfield Road, Stanningley, Pudsey, LS28 6AF.
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. The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover comprises revenue recognised by the company in respect of goods and services supplied, exclusive of Value Added Tax.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation to date.
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:
Fixtures, fittings and equipment
-
25% reducing balance and 25% straight line
Motor vehicles
-
25% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit and loss. Derivative financial instruments are initially recorded at transaction price and thereafter at fair value with changes recognised in profit and loss. The company holds the following financial assets and liabilities: Cash, Short-term trade and other debtors, and creditors. Cash in the balance sheet comprises cash at banks and in hand and short term deposits with an original maturity date of three months or less. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account before operating profit.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 216 (2023: 218 ).
5. TAX ON PROFIT
Major components of tax expense
2024
2023
£
£
Current tax:
UK current tax expense
50,764
62,619
Deferred tax:
Origination and reversal of timing differences
( 4,974)
( 208)
--------
--------
Tax on profit
45,790
62,411
--------
--------
6. TANGIBLE ASSETS
Fixtures, fittings and equipment
Motor vehicles
Total
£
£
£
Cost
At 1 January 2024 and 31 December 2024
19,489
75,054
94,543
--------
--------
--------
Depreciation
At 1 January 2024
16,851
45,275
62,126
Charge for the year
1,134
18,764
19,898
--------
--------
--------
At 31 December 2024
17,985
64,039
82,024
--------
--------
--------
Carrying amount
At 31 December 2024
1,504
11,015
12,519
--------
--------
--------
At 31 December 2023
2,638
29,779
32,417
--------
--------
--------
7. DEBTORS
2024
2023
£
£
Trade debtors
262,404
227,023
---------
---------
8. CREDITORS: amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
16,348
37,778
Trade creditors
19,157
19,213
Corporation tax
50,764
62,619
Social security and other taxes
100,768
87,753
Other creditors
74,927
57,757
---------
---------
261,964
265,120
---------
---------
9. CREDITORS: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
16,348
----
--------