| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 31 August 2024 |
| for |
| WHITE ROSE HOMES LTD. |
| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 31 August 2024 |
| for |
| WHITE ROSE HOMES LTD. |
| WHITE ROSE HOMES LTD. (REGISTERED NUMBER: 08636057) |
| Contents of the Financial Statements |
| for the Year Ended 31 August 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| WHITE ROSE HOMES LTD. |
| Company Information |
| for the Year Ended 31 August 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| Lloyds Bank Chambers |
| Hustlergate |
| Bradford |
| BD1 1UQ |
| WHITE ROSE HOMES LTD. (REGISTERED NUMBER: 08636057) |
| Balance Sheet |
| 31 August 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investment property | 5 |
| CURRENT ASSETS |
| Stock and work in progress | 6 |
| Debtors | 7 |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) |
| NET ASSETS/(LIABILITIES) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings | 11 | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) |
| The directors acknowledge their 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 ROSE HOMES LTD. (REGISTERED NUMBER: 08636057) |
| Balance Sheet - continued |
| 31 August 2024 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| WHITE ROSE HOMES LTD. (REGISTERED NUMBER: 08636057) |
| Notes to the Financial Statements |
| for the Year Ended 31 August 2024 |
| 1. | STATUTORY INFORMATION |
| White Rose Homes Ltd. is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention except for the modification to a fair value basis for investment property as explained below. |
| Turnover |
| Turnover represents the sales value of properties sold, construction and other services provided and rents receivable.for the year. Turnover is stated exclusive of any related VAT. |
| Tangible fixed assets |
| Tangible fixed assets are stated at cost less depreciation. |
| Depreciation is calculated to write off the cost less estimated residual value of the assets over their expected useful lives at the following annual rates: |
| Motor vehicles - 20% of cost |
| Investment property |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| Stock and work in progress |
| Stock and work in progress is stated at the lower of cost and estimated net realisable value. Cost includes all property development costs including interest on development funding incurred during the period of construction. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
| WHITE ROSE HOMES LTD. (REGISTERED NUMBER: 08636057) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2024 |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was NIL (2023 - NIL). |
| 4. | TANGIBLE FIXED ASSETS |
| Equipment, |
| fixtures |
| and |
| fittings |
| £ |
| COST |
| At 1 September 2023 |
| and 31 August 2024 |
| DEPRECIATION |
| At 1 September 2023 |
| Charge for year |
| At 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| At 31 August 2023 |
| Fixed assets are held wholly under hire purchase and similar contracts. |
| 5. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 September 2023 |
| Revaluations | 166,854 |
| At 31 August 2024 |
| NET BOOK VALUE |
| At 31 August 2024 |
| At 31 August 2023 |
| Investment property is stated at directors' valuation as at 31 August 2024. If properties had not been revalued, they would have been stated at cost of £344,396. |
| 6. | STOCK AND WORK IN PROGRESS |
| Stock represents completed properties held for sale. |
| WHITE ROSE HOMES LTD. (REGISTERED NUMBER: 08636057) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2024 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Amounts recoverable on contracts |
| Other debtors |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Bank loans |
| Hire purchase contracts |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans | 356,324 | 366,190 |
| 10. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2024 | 2023 |
| £ | £ |
| Bank loans |
| 11. | RESERVES |
| Retained earnings at 31 August 2024 arise from the revaluation of investment property, net of related deferred taxation, and are therefore unrealised and not distributable. |
| 12. | DIRECTOR'S CURRENT ACCOUNT |
| The director, D Wigglesworth, operates a current account with the company which was overdrawn by a maximum amount of £4,065 for a period of 134 days during the year. The current account is interest free, repayable on demand and was in credit at the beginning of the year, but overdrawn by £2,948 at the end of the year. |
| WHITE ROSE HOMES LTD. (REGISTERED NUMBER: 08636057) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 August 2024 |
| 13. | RELATED PARTY DISCLOSURES |
| Other creditors include £222,546 (2023 - £248,697) owed to a company in which the director, D Wigglesworth, has a controlling interest. The balance is interest free and repayable on demand. |