REGISTERED NUMBER: 10739896 (England and Wales)

WHITESTONE PROPERTY SERVICES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr P S Millan

Dr R K Millan

REGISTERED OFFICE:

10 White Lodge Close

Hampstead

N2 0BL

REGISTERED NUMBER:

10739896 (England and Wales)

ACCOUNTANTS:

Duncan and Toplis Limited

Pinnacle House

1 Pinnacle Way

Derby

Derbyshire

DE24 8ZS

FIXED ASSETS

Tangible assets

4

6,236

7,795

Investments

5

3

-

Investment property

6

7,612,000

10,481,566

7,618,239

10,489,361

CURRENT ASSETS

Debtors

7

3,117,544

814,405

CREDITORS

Amounts falling due within one year

8

1,026,427

1,088,194

NET CURRENT ASSETS/(LIABILITIES)

2,091,117

(273,789

)

TOTAL ASSETS LESS CURRENT LIABILITIES

9,709,356

10,215,572

CREDITORS

Amounts falling due after more than one year

9

(5,079,265

)

(5,185,755

)

PROVISIONS FOR LIABILITIES

(96,012

)

(47,551

)

NET ASSETS

4,534,079

4,982,266

CAPITAL AND RESERVES

Called up share capital

11

100

100

Share premium

3,757,142

3,757,142

Non distributable reserve

12

288,037

142,655

Retained earnings

488,800

1,082,369

SHAREHOLDERS' FUNDS

4,534,079

4,982,266

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 December 2025 and were signed on its behalf by:

Mr P S Millan - Director

1.	STATUTORY INFORMATION

Whitestone Property Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 as modified by the revaluation of certain assets.

Preparation of consolidated financial statements

The financial statements contain information about Whitestone Property Services Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover represents rent receivable and consultancy income, excluding value added tax.

Tangible fixed assets

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

Fixtures and fittings

-

20% on reducing balance

Investments in subsidiaries and associates

Investments in subsidiary and associate undertakings are recognised at cost.

Investment property

Investment property is shown at the most recent valuation. Any aggregate surplus or deficit arising from changes in the market value is recognised in profit or loss.

A transfer is made from retained earnings to the non distributable reserve for the amount of any market value surplus or deficit net of deferred tax provided.

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.

Hire purchase and leasing commitments

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 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2024

and 31 March 2025

33,131

DEPRECIATION

At 1 April 2024

25,336

Charge for year

1,559

At 31 March 2025

26,895

NET BOOK VALUE

At 31 March 2025

6,236

At 31 March 2024

7,795

5.	FIXED ASSET INVESTMENTS

Share in

Interest

subsidiary

in

undertaking

associate

Totals

£

£

£

COST OR VALUATION

Additions

2

1

3

At 31 March 2025

2

1

3

NET BOOK VALUE

At 31 March 2025

2

1

3

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

10,481,566

Additions

416,816

Disposals

(3,499,817

)

Revaluations

213,435

At 31 March 2025

7,612,000

NET BOOK VALUE

At 31 March 2025

7,612,000

At 31 March 2024

10,481,566

Fair value at 31 March 2025 is represented by:

£

Valuation in 2025

384,049

Cost

7,227,951

7,612,000

If investment property had not been revalued it would have been included at the following historical cost:

31.3.25

31.3.24

£

£

Cost

7,227,951

10,291,359

Investment property was valued on an open market basis on 31 March 2025 by the director Mr P S Millan .

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

-

48,000

Amounts owed by subsidiary

562,023

-

Amounts owed by associate

1,124,700

-

Other debtors

1,416,134

750,379

Prepayments and accrued income

14,687

16,026

3,117,544

814,405

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

246,142

254,811

Trade creditors

103,428

81,133

Tax

124,938

132,836

Other creditors

254,136

335,490

Directors' current accounts

265,353

251,854

Accruals and deferred income

32,430

32,070

1,026,427

1,088,194

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans - 1-2 years

238,877

254,811

Bank loans - 2-5 years

821,330

738,932

Bank loans > 5 years

4,019,058

4,192,012

5,079,265

5,185,755

Amounts falling due in more than five years:

Repayable by instalments

Bank loans > 5 years

4,019,058

4,192,012

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Bank loans

5,312,833

5,440,566

The bank loans are secured by a charge on the investment properties.

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

2

Ordinary

£1

100

100

12.

RESERVES

Non

distributable

reserve

£

At 1 April 2024

142,655

Transfer between reserves

145,382

At 31 March 2025

288,037

13.	RELATED PARTY DISCLOSURES

The balance outstanding on interest free loans provided to associates amounted to £1,124,700 (2024 - £nil).