WHHF Ltd - Period Ending 2018-05-31

WHHF Ltd

Annual Report and Unaudited Financial Statements

for the Year Ended 31 May 2018

WHHF Ltd

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 7

WHHF Ltd

Company Information

Directors

Mrs Mary Philomena Patricia Willoughby Mrs Katherine Louise Willoughby Mr Daniel James Willoughby

Registered office

9-15 Grundy Street Liverpool L5 9SG

Accountants

Heriot Hughes Chartered Accountants Chartered Accountants 42 Crosby Road North Crosby Liverpool Merseyside L22 4QQ

Registered Number

10175256

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WHHF Ltd

(Registration number: 10175256)
Balance Sheet as at 31 May 2018

	Note	2018 £	2017 £
Fixed assets
Other financial assets	3	1,031,820	1,031,820
Current assets
Cash at bank and in hand		5,690	5,578
Creditors: Amounts falling due within one year	4	(158,874)	(158,011)
Net current liabilities		(153,184)	(152,433)
Total assets less current liabilities		878,636	879,387
Creditors: Amounts falling due after more than one year	4	(149,551)	(229,425)
Net assets		729,085	649,962
Capital and reserves
Called up share capital	5	100	100
Profit and loss account		728,985	649,862
Total equity		729,085	649,962

For the financial year ending 31 May 2018 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 16 August 2018 and signed on its behalf by:
 

.........................................

Mr Daniel James Willoughby
Director

The notes on pages 3 to 7 form an integral part of these financial statements.

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WHHF Ltd

Notes to the Financial Statements for the Year Ended 31 May 2018

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
9-15 Grundy Street
Liverpool
L5 9SG
United Kingdom

These financial statements were authorised for issue by the Board on 16 August 2018.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

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WHHF Ltd

Notes to the Financial Statements for the Year Ended 31 May 2018 (continued)

2	Accounting policies (continued)

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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WHHF Ltd

Notes to the Financial Statements for the Year Ended 31 May 2018 (continued)

3	Other financial assets (current and non-current)

	Shares £	Total £
Fixed Assets
Cost or valuation
Additions	1,031,820	1,031,820
At 31 May 2018	1,031,820	1,031,820
Impairment
Carrying amount
At 31 May 2018	1,031,820	1,031,820

4

Creditors

Creditors: amounts falling due within one year

	Note	2018 £	2017 £
Due within one year
Amounts owed to related parties	6	125,840	125,000
Other creditors		33,034	33,011
		158,874	158,011
Due after one year
Other creditors		149,551	229,425

Creditors: amounts falling due after more than one year

	2018 £	2017 £
Due after one year
Other creditors	149,551	229,425

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WHHF Ltd

Notes to the Financial Statements for the Year Ended 31 May 2018 (continued)

5	Share capital

Allotted, called up and fully paid shares

	2018		2017
	No.	£	No.	£
Share capital of £1 each	100	100	100	100

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WHHF Ltd

Notes to the Financial Statements for the Year Ended 31 May 2018 (continued)

6	Related party transactions

Transactions with directors

2018	At 1 June 2017 £	Advances by directors £	At 31 May 2018 £
Mr Daniel James Willoughby
Loans from director	125,000	840	125,840

2017	Advances by directors £	At 31 May 2017 £
Mr Daniel James Willoughby
Loans from director	125,000	125,000

Summary of transactions with other related parties

The company received a loan from Shipping Services Limited, a company in which a director, Mr D Willoughby, has an interest. This loan amounts to £275,000 and is repayable over 10 years. At 31 May 2018, the company owed Shipping Services Limited £181,721.

The company received a dividend of £80,000 from Nothing But Limited.


 

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