| Whinwood Leasing Limited |
| Notes to the Accounts |
| for the year ended 31 March 2025 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Income |
|
Income is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Income comprises the company’s share of partnership profits. |
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|
Partnership interests |
|
The interest in Triple Point Lease Partners (TPLP) and Generations Navigator LLP (GN) comprises the equity subscribed less initial profit shares plus profit shares declared by TPLP and GN and less any amounts withdrawn by the company. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
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Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
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Taxation |
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The tax expense represents the sum of the tax currently payable and deferred tax. |
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Current tax |
|
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it excludes items that are never taxable or deductible. The company’s liability for the current year is calculated using tax rates that have been enacted or substantively enacted by the reporting end date. |
|
|
| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company |
1 |
|
1 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Partnership interests |
2025 |
|
2024 |
| £ |
£ |
|
|
Brought forward |
5,550,219 |
|
5,262,217 |
|
Profit in period |
295,397 |
|
300,002 |
|
Withdrawn/ Costs in period |
(75,000) |
|
(12,000) |
|
|
|
|
|
|
|
5,770,616 |
|
5,550,219 |
|
|
|
|
|
|
|
|
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Partnership interests represent the Company's interests in Triple Point Lease Partners and Generations Navigator LLP, details of which are disclosed in notes 4 and 5. |
|
| 4 |
Partnership interest in Triple Point Lease Partners |
2025 |
|
2024 |
| £ |
£ |
|
|
Brought forward |
3,349,799 |
|
3,208,596 |
|
Profit in period |
149,267 |
|
147,203 |
|
Withdrawn/ Costs in period |
(37,500) |
|
(6,000) |
|
|
|
|
|
|
|
3,461,566 |
|
3,349,799 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Partnership interest in Generations Navigator LLP |
2025 |
|
2024 |
| £ |
£ |
|
|
Brought forward |
2,200,420 |
|
2,053,621 |
|
Profit in period |
146,130 |
|
152,799 |
|
Withdrawn/ Costs in period |
(37,500) |
|
(6,000) |
|
|
|
|
|
|
|
2,309,050 |
|
2,200,420 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade creditors |
- |
|
120 |
|
Corporation tax |
73,469 |
|
73,689 |
|
Accruals |
1,260 |
|
768 |
|
|
|
|
|
|
74,729 |
|
74,577 |
|
|
|
|
|
|
|
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| 7 |
Controlling party |
|
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The trustees of the David L N Heron Life Interest Will Trust are the ultimate controlling party by virtue of their 100% shareholding. |
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| 8 |
Other information |
|
|
Whinwood Leasing Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
C/O Cooper Parry |
|
3rd Floor |
|
86-90 Paul Street |
|
London |
|
EC2A 4NE |