REGISTERED NUMBER: 11649383 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

W J White Furniture Limited

Page

Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

-

-

Property, plant and equipment

5

54,906

25,863

54,906

25,863

CURRENT ASSETS

Inventories

61,392

69,677

Debtors

6

1,493,342

1,503,011

Cash at bank and in hand

1,515

11,587

1,556,249

1,584,275

CREDITORS

Amounts falling due within one year

7

(927,224

)

(635,726

)

NET CURRENT ASSETS

629,025

948,549

TOTAL ASSETS LESS CURRENT LIABILITIES

683,931

974,412

CREDITORS

Amounts falling due after more than one year

8

(509,281

)

(813,233

)

PROVISIONS FOR LIABILITIES

(13,727

)

(6,466

)

NET ASSETS

160,923

154,713

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

160,723

154,513

160,923

154,713

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 May 2025 and were signed on its behalf by:

Mr R W Moore - Director

Mr A M Tucker - Director

1.	STATUTORY INFORMATION

W J White Furniture Limited is a private company, limited by shares, registered in England, registration number 11649383. The registered office is Innovation House Ganton Way, Techno Trading Estate, Swindon SN2 8EZ.

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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Going concern

The board of directors have reviewed the future financial position of the company and in their view there will be adequate funding in place to ensure the company can continue to meet its liabilities as they fall due. The company have received assurances from its key customers, suppliers and lenders they will continue to support the company for the foreseeable future. Therefore it is the board of directors' assessment that the financial statements can be prepared on a going concern basis.

Turnover

Turnover represents net invoiced sales of bespoke furniture, excluding value added tax. Sales are recognised at the point at which the goods are delivered.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2018, is being amortised evenly over its useful life of 5 years.

Tangible fixed assets and depreciation

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost, 20% on cost and 10% on cost

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Provisions

Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet.

Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2023 - 36 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

2,004

Disposals

(2,004

)

At 31 December 2024

-

AMORTISATION

At 1 January 2024

2,004

Eliminated on disposal

(2,004

)

At 31 December 2024

-

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

5.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

£

COST

At 1 January 2024

120,738

Additions

43,227

Disposals

(70,150

)

At 31 December 2024

93,815

DEPRECIATION

At 1 January 2024

94,875

Charge for year

14,184

Eliminated on disposal

(70,150

)

At 31 December 2024

38,909

NET BOOK VALUE

At 31 December 2024

54,906

At 31 December 2023

25,863

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

7,330

11,766

Amounts owed by group undertakings

200

200

Amounts owed by related parties

1,349,193

1,272,304

Other debtors

136,619

218,741

1,493,342

1,503,011

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans and overdrafts

10,126

10,126

Hire purchase contracts

18,077

54,232

Trade creditors

316,958

441,272

Amounts owed to related parties

-

3,930

Taxation and social security

302,193

119,782

Other creditors

279,870

6,384

927,224

635,726

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.24

31.12.23

£

£

Bank loans

9,281

19,406

Hire purchase contracts

-

18,077

Other creditors

500,000

775,750

509,281

813,233

9.	SECURED DEBTS

The following secured debts are included within creditors:

31.12.24

31.12.23

£

£

Bank loans

19,406

29,531

Hire purchase contracts

18,077

72,309

37,483

101,840

Balances due under hire purchase agreements are secured upon the assets to which they relate.

10.	RELATED PARTY DISCLOSURES

Amounts are owed to companies with common directors/shareholders of £0 (2023: £3,930).

Amounts are due by companies with common directors/shareholders of £1,349,193 (2023: £1,272,304).

11.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is W J White Holdings Limited. W J White Holdings Limited is registered in England under registration number 13114861. The registered office is Innovation House Ganton Way, Techno Trading Estate, Swindon, United Kingdom, SN2 8EZ.