Whitehill Properties Limited - Accounts to registrar (filleted) - small 18.2
Whitehill Properties Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30TH APRIL 2018 |
| FOR |
| WHITEHILL PROPERTIES LIMITED |
| WHITEHILL PROPERTIES LIMITED (REGISTERED NUMBER: 03548559) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30TH APRIL 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| WHITEHILL PROPERTIES LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 30TH APRIL 2018 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Cornelius House |
| 178-180 Church Road |
| Hove |
| East Sussex |
| BN3 2DJ |
| WHITEHILL PROPERTIES LIMITED (REGISTERED NUMBER: 03548559) |
| BALANCE SHEET |
| 30TH APRIL 2018 |
| 2018 | 2017 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
7 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | 9 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Fair value reserve | 11 |
| Retained earnings | 11 |
| SHAREHOLDERS' FUNDS |
| 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. |
| WHITEHILL PROPERTIES LIMITED (REGISTERED NUMBER: 03548559) |
| BALANCE SHEET - continued |
| 30TH APRIL 2018 |
| 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 on its behalf by: |
| WHITEHILL PROPERTIES LIMITED (REGISTERED NUMBER: 03548559) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 30TH APRIL 2018 |
| 1. | STATUTORY INFORMATION |
| Whitehill Properties Limited is a |
| 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 |
| Significant judgements and estimates |
| No significant judgements have had to be made by the directors in preparing these financial statements. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, |
| rebates, value added tax and other sales taxes. |
| 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 air 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. |
| Investment properties whose fair value cannot be measured reliably without undue cost or effort on an |
| on-going basis are included in plant, property and equipment at cost less accumulated depreciation and |
| accumulated impairment losses. |
| Financial instruments |
| The company only enters into basic financial instruments transactions that result in the recognition of |
| financial assets and liabilities like trade and other accounts receivable and payable, loans from banks |
| and other third parties, loans to related parties and investments in non-puttable ordinary shares. |
| Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting |
| period for objective evidence of impairment. If objective evidence of impairment is found, an impairment |
| loss is recognised in profit or loss. |
| 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. |
| WHITEHILL PROPERTIES LIMITED (REGISTERED NUMBER: 03548559) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30TH APRIL 2018 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| Impairment of non-financial assets |
| At each reporting date non-financial assets not carried at fair value, like goodwill and plant, property and |
| equipment, are reviewed to determine whether there is an indication that an asset may be impaired. If |
| there is an indication of possible impairment, the recoverable amount of any asset or group of related |
| assets, which is the higher of value in use and the fair value less cost to sell, is estimated and compared |
| with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is reduced |
| to its recoverable amount and an impairment loss is recognised immediately in profit or loss. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1st May 2017 |
| Additions |
| At 30th April 2018 |
| NET BOOK VALUE |
| At 30th April 2018 |
| At 30th April 2017 |
| Fair value at 30th April 2018 is represented by: |
| £ |
| Valuation in 2018 | 118,985 |
| Cost | 3,111,314 |
| 3,230,299 |
| WHITEHILL PROPERTIES LIMITED (REGISTERED NUMBER: 03548559) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30TH APRIL 2018 |
| 4. | INVESTMENT PROPERTY - continued |
| If investment property had not been revalued it would have been included at the following historical cost: |
| 2018 | 2017 |
| £ | £ |
| Cost | 3,111,314 | 3,100,310 |
| Investment property was valued on an open market basis on 30th April 2018 by a director . |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Other debtors |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Bank loans and overdrafts |
| Deposits held |
| Taxation and social security |
| Other creditors |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2018 | 2017 |
| £ | £ |
| Bank loans |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | 160,278 | 228,968 |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2018 | 2017 |
| £ | £ |
| Bank loans |
| The bank loans are secured by way of a charge on the freehold properties. |
| WHITEHILL PROPERTIES LIMITED (REGISTERED NUMBER: 03548559) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 30TH APRIL 2018 |
| 9. | PROVISIONS FOR LIABILITIES |
| 2018 | 2017 |
| £ | £ |
| Deferred tax | 47,712 | 51,292 |
| Deferred |
| tax |
| £ |
| Balance at 1st May 2017 |
| Provided during year | ( |
) |
| Balance at 30th April 2018 |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2018 | 2017 |
| value: | £ | £ |
| Ordinary | £1 | 100 | 100 |
| 11. | RESERVES |
| Fair |
| Retained | value |
| earnings | reserve | Totals |
| £ | £ | £ |
| At 1st May 2017 | 2,162,689 |
| Profit for the year |
| Deferred tax adjustment | 3,580 | (3,580 | ) | - |
| At 30th April 2018 | 2,393,300 |