Whitt Bros. Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00412671 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2021

for

WHITT BROS. LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M V Whitt

I W Whitt

SECRETARY:

M V Whitt

REGISTERED OFFICE:

65 Leadenhall Street

London

London

EC3A 2AD

REGISTERED NUMBER:

00412671 (England and Wales)

FIXED ASSETS

Tangible assets

4

465,229

480,465

CURRENT ASSETS

Stocks

3,580

3,724

Debtors

5

90,008

60,869

Cash at bank

467,207

485,422

560,795

550,015

CREDITORS

Amounts falling due within one year

6

45,407

61,301

NET CURRENT ASSETS

515,388

488,714

TOTAL ASSETS LESS CURRENT LIABILITIES

980,617

969,179

CREDITORS

Amounts falling due after more than one year

7

38,082

50,000

NET ASSETS

942,535

919,179

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

941,535

918,179

SHAREHOLDERS' FUNDS

942,535

919,179

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2021 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 31 March 2022 and were signed on its behalf by:

I W Whitt - Director

1.	STATUTORY INFORMATION

Whitt Bros. 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.

Turnover

Turnover 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.

Land and buildings

-

2% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - NIL ) .

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

At 1 September 2020

and 31 August 2021

761,792

DEPRECIATION

At 1 September 2020

281,327

Charge for year

15,236

At 31 August 2021

296,563

NET BOOK VALUE

At 31 August 2021

465,229

At 31 August 2020

480,465

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

36,156

39,601

Related parties

24,684

20,951

Other debtors

29,168

317

90,008

60,869

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Bank loans and overdrafts

9,566

-

Trade creditors

11,814

8,232

Taxation and social security

20,127

29,730

Other creditors

3,900

23,339

45,407

61,301

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2021

2020

£

£

Bank loans

38,082

50,000

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2021 and 31 August 2020:

2021

2020

£

£

M V Whitt

Balance outstanding at start of year

(19,439

)

(19,439

)

Amounts advanced

50,245

-

Amounts repaid

(1,962

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

28,844

(19,439

)

Interest is payable, by the Director, on the above loan, at a rate of 3% per annum. During the year £245 of interest was charged.

9.	RELATED PARTY DISCLOSURES

Included in turnover is rent received from Whitt Bros Contractors Limited, amounting to £10,176 (2020: £11,374). Whitt Bros Contractors Limited is a wholly owned subsidiary of Whitt Bros Management Limited. Whitt Bros Management Limited has the same directors and shareholders as Whitt Bros Limited. The amount due from Whitt Bros Contractors Limited at the balance sheet date was £24,684 (2020: £20,951).

During the year the Company invoiced M V Whitt, a Director of this company, £26,874 (2020: £77,933) in respect of construction work carried out. At the year, the company was owed an amount of £16,701 (2020: £17,192) from MV Whitt.