Company Registration No. 04388165 (England and Wales)
Whetley Mills Limited
Unaudited accounts
for the year ended 31 January 2025
Whetley Mills Limited
Unaudited accounts
Contents
Whetley Mills Limited
Company Information
for the year ended 31 January 2025
Directors
Tahir Zeshan Hussain
Mohammad Salman Hussain
Secretary
Tahir Zeshan Hussain
Company Number
04388165 (England and Wales)
Registered Office
Whetley Mills Business Park
370 Thornton Road
Bradford
BD8 8LQ
England
Accountants
Shipleys Tax - Chartered Accountants
32 Park Cross Street
Leeds
West Yorkshire
LS1 2QH
Whetley Mills Limited
Statement of financial position
as at 31 January 2025
Tangible assets
21,308
25,379
Investment property
6,828,630
6,828,630
Cash at bank and in hand
64,193
71,907
Creditors: amounts falling due within one year
(191,844)
(332,837)
Net current assets/(liabilities)
50,553
(53,957)
Total assets less current liabilities
6,900,491
6,800,052
Creditors: amounts falling due after more than one year
(2,562,420)
(2,505,971)
Provisions for liabilities
Deferred tax
(14,318)
(14,862)
Net assets
4,323,753
4,279,219
Called up share capital
1,000
1,000
Revaluation reserve
1,513,000
1,513,000
Profit and loss account
2,809,753
2,765,219
Shareholders' funds
4,323,753
4,279,219
For the year ending 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 27 October 2025 and were signed on its behalf by
Mohammad Salman Hussain
Director
Company Registration No. 04388165
Whetley Mills Limited
Notes to the Accounts
for the year ended 31 January 2025
Whetley Mills Limited is a private company, limited by shares, registered in England and Wales, registration number 04388165. The registered office is Whetley Mills Business Park, 370 Thornton Road, Bradford, BD8 8LQ, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
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 fixed assets.
The accounts are presented in £ sterling.
At the time of signing these accounts, having considered the economic climate, the Directors expectations and intentions for the next twelve months, and the availability of working capital, the Directors are of the opinion that the Company will remain viable for the foreseeable future and therefore these Financial Statements have been prepared on the Going Concern basis.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% on reducing balance
Motor vehicles
25% on reducing balance
Fixtures & fittings
15% on reducing balance
Computer equipment
20% on reducing balance
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Whetley Mills Limited
Notes to the Accounts
for the year ended 31 January 2025
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
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 or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
Whetley Mills Limited
Notes to the Accounts
for the year ended 31 January 2025
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 February 2024
43,341
8,089
95,496
1,573
148,499
At 31 January 2025
43,341
8,089
95,496
1,573
148,499
At 1 February 2024
40,025
6,494
76,057
544
123,120
Charge for the year
497
399
2,918
257
4,071
At 31 January 2025
40,522
6,893
78,975
801
127,191
At 31 January 2025
2,819
1,196
16,521
772
21,308
At 31 January 2024
3,316
1,595
19,439
1,029
25,379
Fair value at 1 February 2024
6,828,630
At 31 January 2025
6,828,630
The market value of the company's investment properties at the valuation date of December 2020 has been incorporated in to these financial statements as the value as at 31 January 2025. The valuation was undertaken by Knight Frank Valuation & Advisory. In the opinion of the directors the difference in valuation between the two two dates is considered immaterial.
Amounts falling due within one year
Trade debtors
60,526
67,452
Accrued income and prepayments
97,128
123,521
Other debtors
20,550
16,000
7
Creditors: amounts falling due within one year
2025
2024
Bank loans and overdrafts
33,332
33,332
Trade creditors
62,191
71,368
Taxes and social security
16,093
27,299
Other creditors
844
107,598
Loans from directors
169
198
Deferred income
19,262
2,020
Whetley Mills Limited
Notes to the Accounts
for the year ended 31 January 2025
8
Creditors: amounts falling due after more than one year
2025
2024
Bank loans
2,251,117
2,299,925
Other creditors
311,303
206,046
Bank loans and overdrafts are secured by means of a first legal charge over one of the company's investment properties and a debenture over the assets and undertaking of the company.
9
Deferred taxation
2025
2024
Accelerated capital allowances
3,165
3,709
Revaluation of investment property
11,153
11,153
Provision at start of year
14,862
15,494
Credited to the profit and loss account
(544)
(632)
Provision at end of year
14,318
14,862
Allotted, called up and fully paid:
1,000 Ordinary shares of £1 each
1,000
1,000
11
Operating lease commitments
2025
2024
At 31 January 2025 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
-
125
12
Average number of employees
During the year the average number of employees was 8 (2024: 8).