Whitfield Portfolio Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11100009 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2020

for

Whitfield Portfolio Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

D K Whitfield

Mrs S E Whitfield

REGISTERED OFFICE:

30a High Street

Over

Cambridgeshire

CB24 5ND

REGISTERED NUMBER:

11100009 (England and Wales)

FIXED ASSETS

Property, plant and equipment

4

620,448

628,608

Investment property

5

35,895,547

34,873,274

36,515,995

35,501,882

CURRENT ASSETS

Debtors

6

14,435,483

13,678,881

Cash at bank

211,988

859,291

14,647,471

14,538,172

CREDITORS

Amounts falling due within one year

7

1,289,489

900,709

NET CURRENT ASSETS

13,357,982

13,637,463

TOTAL ASSETS LESS CURRENT LIABILITIES

49,873,977

49,139,345

CREDITORS

Amounts falling due after more than one year

8

(18,076,620

)

(18,639,912

)

PROVISIONS FOR LIABILITIES

(165,263

)

-

NET ASSETS

31,632,094

30,499,433

CAPITAL AND RESERVES

Called up share capital

9

100

100

Share premium

10

30,737,618

30,737,618

Fair value reserve

10

704,540

-

Retained earnings

10

189,836

(238,285

)

SHAREHOLDERS' FUNDS

31,632,094

30,499,433

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2020 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 and authorised for issue on 21 December 2020 and were signed on its behalf by:

D K Whitfield - Director

1.	STATUTORY INFORMATION

Whitfield Portfolio 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 as modified by the revaluation of certain assets.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Investment property

Investment property, which is property held to earn rentals and/or capital appreciation is initially recognised at

cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at

fair value at the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss

account.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2019 - 15 ) .

4.	PROPERTY, PLANT AND EQUIPMENT

Improvements

Fixtures

to

and

Motor

property

fittings

vehicles

Totals

£

£

£

£

COST

At 1 April 2019

577,322

16,205

36,543

630,070

Additions

2,032

1,750

-

3,782

Disposals

-

(403

)

(5,093

)

(5,496

)

Reclassification/transfer

14,202

(14,202

)

-

-

At 31 March 2020

593,556

3,350

31,450

628,356

DEPRECIATION

At 1 April 2019

-

-

1,462

1,462

Charge for year

-

611

6,620

7,231

Eliminated on disposal

-

-

(785

)

(785

)

At 31 March 2020

-

611

7,297

7,908

NET BOOK VALUE

At 31 March 2020

593,556

2,739

24,153

620,448

At 31 March 2019

577,322

16,205

35,081

628,608

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2019

34,873,274

Additions

152,470

Revaluations

869,803

At 31 March 2020

35,895,547

NET BOOK VALUE

At 31 March 2020

35,895,547

At 31 March 2019

34,873,274

Fair value at 31 March 2020 is represented by:

£

Valuation in 2020

869,803

Cost

35,025,744

35,895,547

6.

DEBTORS

31.3.20

31.3.19

£

£

Amounts falling due within one year:

Trade debtors

24,795

54,007

Other debtors

137,914

75,235

162,709

129,242

Amounts falling due after more than one year:

Other debtors

14,272,774

13,549,639

Aggregate amounts

14,435,483

13,678,881

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.20

31.3.19

£

£

Bank loans and overdrafts

685,975

129,923

Trade creditors

94,333

203,891

Taxation and social security

118,057

29,789

Other creditors

391,124

537,106

1,289,489

900,709

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.20

31.3.19

£

£

Bank loans

18,064,025

18,620,077

Hire purchase contracts

12,595

19,835

18,076,620

18,639,912

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

18,064,025

18,620,077

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.20

31.3.19

value:

£

£

100

Ordinary

£1

100

100

10.

RESERVES

Fair

Retained

Share

value

earnings

premium

reserve

Totals

£

£

£

£

At 1 April 2019

(238,285

)

30,737,618

-

30,499,333

Profit for the year

1,132,661

1,132,661

Bonus share issue

(704,540

)

-

704,540

-

At 31 March 2020

189,836

30,737,618

704,540

31,631,994

11.	RELATED PARTY DISCLOSURES

Included in creditors is a balance amounting to £Nil (2019 :£63,743) due to Hallmark Residential Limited, £Nil

(2019 :£65,270) due to Over Property Management Limited.

Included in debtors is balance amounting to NIL (2019 :£1,429,897) is related to The Whitfield Group Limited,

£14,272,774 (2019 :£12,031,726) related to Whitfield Property Investment Limited ,£ Nil (2019 :£11,002)

related to Golden Curry Limited.

The director D K Whitfield is also a directors in above mentioned companies.