Whistling Investments Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09356395 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2018

for

Whistling Investments Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

M T Macinnes

REGISTERED OFFICE:

Birchin Court

20 Birchin Lane

London

EC3V 9DJ

REGISTERED NUMBER:

09356395 (England and Wales)

ACCOUNTANTS:

Adbell Advisory Ltd

Birchin Court

20 Birchin Lane

London

EC3V 9DJ

FIXED ASSETS

Investments

3

11,000

33,000

CREDITORS

Amounts falling due within one year

4

(10,874

)

(32,874

)

NET CURRENT LIABILITIES

(10,874

)

(32,874

)

TOTAL ASSETS LESS CURRENT LIABILITIES

126

126

CAPITAL AND RESERVES

Called up share capital

5

126

126

SHAREHOLDERS' FUNDS

126

126

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 24 September 2019 and were signed by:

M T Macinnes - Director

1.	STATUTORY INFORMATION

Whistling Investments 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.

The company's functional currency is € Euro and the presentation currency is € Euro.

Preparation of consolidated financial statements

The financial statements contain information about Whistling Investments Ltd as an individual company and do not

contain consolidated financial information as the parent of a group. The company has taken the option under Section

398 of the Companies Act 2006 not to prepare consolidated financial statements.

The company and its subsidiary undertakings form part of a small-sized group.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into euro at the rates of exchange ruling at the balance sheet

date. Transactions in foreign currencies are translated into euro at the rate of exchange ruling at the date of

transaction. Exchange differences are taken into account in arriving at the operating result.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other

Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes

party to the contractual provisions of the instrument.

Financial assets and liabilities are offset , with the net amounts presented in the financial statements , when there is a

legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to

realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured

at transaction price including transaction costs and are subsequently carried at amortised cost using the effective

interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the

present value of the future receipts discounted at a market rate of interest.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements

entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after

deducting all of its liabilities.

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group companies and

preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement

constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts

discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables 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 payment is due within one year or

less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price

and subsequently measured at amortised cost using the effective interest method.

3.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

€

COST

At 1 January 2018

33,000

Disposals

(22,000

)

At 31 December 2018

11,000

NET BOOK VALUE

At 31 December 2018

11,000

At 31 December 2017

33,000

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Nimbusz Services Kft

Registered office:

Nature of business: Wholesale distribution

%

Class of shares:

holding

Ordinary

100.00

30.6.18

30.9.17

€

€

Aggregate capital and reserves

662

3,190

Loss for the year

(2,528

)

(8,330

)

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

€

€

Other creditors

10,874

32,874

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.18

31.12.17

value:

€

€

100

Ordinary

£1

126

126

6.

RESERVES

Retained

earnings

€

Profit for the year

-

At 31 December 2018

-

7.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr Andrea Mauro Bruno Quadranti.