Whitecape Ltd - Accounts to registrar (filleted) - small 18.2

Whitecape Ltd - Accounts to registrar (filleted) - small 18.2

WHITECAPE LTD - Company Information

Print Friendly Version

IRIS Accounts Production v18.3.1.65 03384411 director 1.7.17 30.6.18 30.6.18 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pure033844112017-06-30033844112018-06-30033844112017-07-012018-06-30033844112016-06-30033844112016-07-012017-06-30033844112017-06-3003384411ns15:EnglandWales2017-07-012018-06-3003384411ns14:PoundSterling2017-07-012018-06-3003384411ns10:Director12017-07-012018-06-3003384411ns10:PrivateLimitedCompanyLtd2017-07-012018-06-3003384411ns10:SmallEntities2017-07-012018-06-3003384411ns10:AuditExempt-NoAccountantsReport2017-07-012018-06-3003384411ns10:SmallCompaniesRegimeForDirectorsReport2017-07-012018-06-3003384411ns10:SmallCompaniesRegimeForAccounts2017-07-012018-06-3003384411ns10:AbridgedAccounts2017-07-012018-06-3003384411ns10:CompanySecretary12017-07-012018-06-3003384411ns10:RegisteredOffice2017-07-012018-06-3003384411ns5:CurrentFinancialInstruments2018-06-3003384411ns5:CurrentFinancialInstruments2017-06-3003384411ns5:Non-currentFinancialInstruments2018-06-3003384411ns5:Non-currentFinancialInstruments2017-06-3003384411ns5:ShareCapital2018-06-3003384411ns5:ShareCapital2017-06-3003384411ns5:FurtherSpecificReserve3ComponentTotalEquity2018-06-3003384411ns5:FurtherSpecificReserve3ComponentTotalEquity2017-06-3003384411ns5:RetainedEarningsAccumulatedLosses2018-06-3003384411ns5:RetainedEarningsAccumulatedLosses2017-06-3003384411ns5:FurnitureFittings2017-07-012018-06-3003384411ns5:MoreThanFiveYearsns5:Non-currentFinancialInstruments2018-06-3003384411ns5:MoreThanFiveYearsns5:Non-currentFinancialInstruments2017-06-3003384411ns5:Secured2018-06-3003384411ns5:Secured2017-06-30


REGISTERED NUMBER: 03384411 (England and Wales)












UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2018

FOR

WHITECAPE LTD
WHITECAPE LTD (REGISTERED NUMBER: 03384411)






CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 30 June 2018




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


WHITECAPE LTD

COMPANY INFORMATION
for the year ended 30 June 2018







DIRECTOR: Mr A Hoffman





SECRETARY: Mr A Hoffman





REGISTERED OFFICE: 19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD





REGISTERED NUMBER: 03384411 (England and Wales)





ACCOUNTANTS: Raffingers LLP
Chartered Certified Accountants
19-20 Bourne Court
Southend Road
Woodford Green
Essex
IG8 8HD
Page 1
WHITECAPE LTD (REGISTERED NUMBER: 03384411)

ABRIDGED BALANCE SHEET
30 June 2018

2018 2017
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 176 207
Investment property 4 720,000 700,000
720,176 700,207

CURRENT ASSETS
Debtors 382,148 373,526
Cash at bank 23,952 20,030
406,100 393,556
CREDITORS
Amounts falling due within one year 192,529 158,120
NET CURRENT ASSETS 213,571 235,436
TOTAL ASSETS LESS CURRENT
LIABILITIES
933,747
935,643

CREDITORS
Amounts falling due after more than one
year
5
(352,914
)
(346,433
)

PROVISIONS FOR LIABILITIES (108,871 ) (108,871 )
NET ASSETS 471,962 480,339

CAPITAL AND RESERVES
Called up share capital 2 2
Fair value reserve 464,135 464,135
Retained earnings 7,825 16,202
SHAREHOLDERS' FUNDS 471,962 480,339

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 notes form part of these financial statements

Page 2 continued...
WHITECAPE LTD (REGISTERED NUMBER: 03384411)

ABRIDGED BALANCE SHEET - continued
30 June 2018


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 June 2018 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 28 March 2019 and were signed by:





Mr A Hoffman - Director


The notes form part of these financial statements

Page 3
WHITECAPE LTD (REGISTERED NUMBER: 03384411)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 30 June 2018

1. STATUTORY INFORMATION

Whitecape Ltd 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.

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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover represents gross rent receivable.

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 - 15% on reducing balance

Investment property
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties
are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value
can be measured reliably without undue cost or effort on an on-going basis are measured at fair value. Gains and
losses arising from changes in the fair value of investment properties are included in profit or loss in the period
in which they arise.

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.

Short term debtors and creditors
Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising
from impairment are recognised in the profit and loss account.

Loans and borrowings
Loans and borrowings are initially recognised at the transaction price including transactions costs. Subsequently,
they are measured at amortised cost using the effective interest rate method, less impairment.

Page 4 continued...
WHITECAPE LTD (REGISTERED NUMBER: 03384411)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2018

3. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 July 2017
and 30 June 2018 2,018
DEPRECIATION
At 1 July 2017 1,811
Charge for year 31
At 30 June 2018 1,842
NET BOOK VALUE
At 30 June 2018 176
At 30 June 2017 207

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2017 700,000
Additions 20,000
At 30 June 2018 720,000
NET BOOK VALUE
At 30 June 2018 720,000
At 30 June 2017 700,000

Fair value at 30 June 2018 is represented by:

£   
Valuation in 2008 373,006
Valuation in 2016 200,000
Cost 146,994
720,000

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

2018 2017
£    £   
Cost 146,994 126,994

Investment property was valued on an open market basis on 30 June 2018 by the director .

Page 5 continued...
WHITECAPE LTD (REGISTERED NUMBER: 03384411)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 30 June 2018

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
2018 2017
£    £   
Repayable otherwise than by instalments
Bank loans 352,914 346,433

6. SECURED DEBTS

The following secured debts are included within creditors:

2018 2017
£    £   
Bank loans 352,914 346,433

The mortgage with Fleet Mortgages is secured by way of a fixed and floating charge over the properties held by
the company.

7. RELATED PARTY DISCLOSURES

At the balance sheet date, the company owed £151,984 (2017 - £151,247) to Mr A Hoffman, the director.

Page 6