Whistlebrook Limited Filleted accounts for Companies House (small and micro)
Whistlebrook Limited Filleted accounts for Companies House (small and micro)
COMPANY REGISTRATION NUMBER:
03316558
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Abridged Financial Statements |
Year ended 30 September 2020
Contents |
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Chartered accountant's report to the board of directors on the preparation of the unaudited statutory abridged financial statements |
1 |
Abridged statement of financial position |
2 |
Notes to the abridged financial statements |
4 |
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Chartered Accountant's Report to the Board of Directors on the Preparation of the Unaudited Statutory Abridged Financial Statements of
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Year ended 30 September 2020
Unit 7
The Forum
Icknield Way
Tring
Hertfordshire
HP23 4JY
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Abridged Statement of Financial Position |
2020 |
2019 |
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Note |
£ |
£ |
£ |
Fixed assets
Intangible assets |
4 |
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Tangible assets |
5 |
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Investments |
6 |
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Current assets
Debtors |
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Cash at bank and in hand |
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Creditors: amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Creditors: amounts falling due after more than one year |
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– |
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Provisions
Taxation including deferred tax |
– |
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Net assets |
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Capital and reserves
Called up share capital |
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Share premium account |
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Other reserves |
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Profit and loss account |
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Shareholders funds |
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In accordance with section 444 of the Companies Act 2006, the abridged income statement has not been delivered.
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Abridged Statement of Financial Position (continued) |
Directors' responsibilities:
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The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
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These abridged financial statements were approved by the
board of directors
and authorised for issue on
25 February 2021
, and are signed on behalf of the board by:
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Director |
Company registration number:
03316558
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Notes to the Abridged Financial Statements |
Year ended 30 September 2020
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 6, The Forum, Icknield Way, Tring, Hertfordshire, HP23 4JY.
2.
Accounting policies
Basis of preparation
Revenue recognition
Income tax
Operating leases
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
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over 3 years
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If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold Property |
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over 50 years
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Fixtures & Fittings |
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over 2-5 years
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Equipment |
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over 2 years
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Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Investments in associates
Investments in joint ventures
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Provisions
Defined contribution plans
3.
Employee numbers
The average number of persons employed by the company during the year amounted to
22
(2019:
20
).
4.
Intangible assets
£ |
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Cost |
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At 1 October 2019 and 30 September 2020 |
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Amortisation |
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At 1 October 2019 |
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Charge for the year |
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At 30 September 2020 |
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Carrying amount |
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At 30 September 2020 |
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At 30 September 2019 |
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5.
Tangible assets
£ |
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Cost |
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At 1 October 2019 |
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Additions |
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Disposals |
(
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Transfers |
(12,996) |
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At 30 September 2020 |
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Depreciation |
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At 1 October 2019 |
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Charge for the year |
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Disposals |
(
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Other movements |
(
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At 30 September 2020 |
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Carrying amount |
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At 30 September 2020 |
762,433 |
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At 30 September 2019 |
357,909 |
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6.
Investments
£ |
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Cost |
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At 1 October 2019 |
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Additions |
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Disposals |
(
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At 30 September 2020 |
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Impairment |
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At 1 October 2019 |
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Disposals |
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Other movements |
(
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At 30 September 2020 |
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Carrying amount |
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At 30 September 2020 |
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At 30 September 2019 |
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7.
Financial instruments
The carrying amount for each category of financial instrument is as follows:
2020 |
2019 |
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£ |
£ |
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Financial assets measured at fair value through profit or loss
Financial assets measured at fair value through profit or loss |
141,710 |
152,551 |
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8.
Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2020 |
2019 |
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£ |
£ |
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Not later than 1 year |
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Later than 1 year and not later than 5 years |
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9.
Directors' advances, credits and guarantees
At the year end, the company owed £2,560 (2019 - £4,671) to A C Hudders, a director.
10.
Related party transactions
During the year, the company charged a management fee of £72,000 (2019: £72,000) to Options Mail Order Software Limited, a subsidiary. At the balance sheet date, the amount due from Options Mail Order Software Limited was £12,525 (2019: £20,400). At the year end, the company owed £27,561 (2019: £28,074) to Whistlebrook SAAS Ltd. During the year, the company was recharged the cost of the Employee Benefit Trust of £5,050 (2019: £5,000) from the parent company, Whistlebrook Holdings Ltd. At the year end, the company was owed £743,658 (2019: £547,038) by Whistlebrook Holdings Ltd. During the year, the company paid rent of £1,692 (2019: £20,243) to a pension fund of which S R J Viney and A C Hudders are beneficiaries.