REGISTERED NUMBER: NI010537 (Northern Ireland)

Whitsitt Development Company Limited

Unaudited Financial Statements

for the Year Ended 31 January 2025

Page

Company information

1

Statement of financial position

2

Notes to the financial statements

3

to

5

Directors:

Miss M L Eagleson

Mr D B Eagleson

Secretary:

Mr D B Eagleson

Registered office:

63 Madden Road

Armagh

Co Armagh

BT60 3LJ

Registered number:

NI010537 (Northern Ireland)

Accountants:

Wylie Ruddell

Chartered Accountants

Armagh Business Centre

2 Loughgall Road

Armagh

BT61 7NH

Fixed assets

Tangible assets

4

33

42

Current assets

Inventory

5

147,983

139,183

Prepayments and accrued income

1,709

1,699

Cash at bank

6

1,227

1,053

150,919

141,935

Payables

Amounts falling due within one year

7

(150,665

)

(139,789

)

Net current assets

254

2,146

Total assets less current liabilities

287

2,188

Capital and reserves

Called up share capital

8

2

2

Retained earnings

285

2,186

Shareholders' funds

287

2,188

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 24 October 2025 and were signed on its behalf by:

Mr D B Eagleson - Director

1.	Statutory information

Whitsitt Development Company Limited is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

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.

Critical accounting judgements and key sources of estimation uncertainty

In the director's opinion there are no accounting policies which require estimations or uncertainties included within the financial statements.

Tangible fixed assets

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

Plant and machinery etc

-

20% on reducing balance

Inventory

Work in progress is valued at the lower of cost and net realisable value,

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.

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Payables

Short term payables 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.

3.	Employees and directors

The average number of employees during the year was 2 (2024 - 2 ) .

4.	Tangible fixed assets

Plant and

machinery

etc

£

Cost

At 1 February 2024

and 31 January 2025

4,593

Depreciation

At 1 February 2024

4,551

Charge for year

9

At 31 January 2025

4,560

Net book value

At 31 January 2025

33

At 31 January 2024

42

5.

Inventory

2025

2024

£

£

Work-in-progress

147,983

139,183

6.	Cash at bank

2025

2024

£

£

Bank deposit account

1,227

1,053

7.	Payables less than one year

2025

2024

£

£

Other payables

150,665

139,789

8.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

2

Ordinary

2

2

2

9.	Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the years ended 31 January 2025 and 31 January 2024:

2025

2024

£

£

Miss M L Eagleson and Mr D B Eagleson

Balance outstanding at start of year

138,507

121,694

Amounts advanced

10,813

16,813

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

149,320

138,507