Whiteclub Limited - Accounts to registrar (filleted) - small 22.3
Whiteclub Limited - Accounts to registrar (filleted) - small 22.3
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 MARCH 2022 |
| FOR |
| WHITECLUB LIMITED |
| WHITECLUB LIMITED (REGISTERED NUMBER: 04691557) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 29 MARCH 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| WHITECLUB LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 29 MARCH 2022 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Room 73 |
| Wrest House |
| Wrest Park |
| Silsoe |
| Bedfordshire |
| MK45 4HR |
| WHITECLUB LIMITED (REGISTERED NUMBER: 04691557) |
| BALANCE SHEET |
| 29 MARCH 2022 |
| 2022 | 2021 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 5 |
| Tangible assets | 6 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 7 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 8 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| CREDITORS |
| Amounts falling due after more than one year |
9 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET LIABILITIES | ( |
) | ( |
) |
| WHITECLUB LIMITED (REGISTERED NUMBER: 04691557) |
| BALANCE SHEET - continued |
| 29 MARCH 2022 |
| 2022 | 2021 |
| Notes | £ | £ | £ | £ |
| CAPITAL AND RESERVES |
| Called up share capital | 10 |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| The director acknowledges his 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. |
| 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 and authorised for issue on |
| WHITECLUB LIMITED (REGISTERED NUMBER: 04691557) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 29 MARCH 2022 |
| 1. | STATUTORY INFORMATION |
| Whiteclub Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| During the period the company made of a profit after tax of £144,117 and had a net deficiency in reserves of £706,252 at the balance sheet date. |
| The company meets its day to day working capital requirements through supplier credit and loans due to related parties The director has confirmed that the loans due to related undertakings will not be repaid until such time as the company has sufficient cash reserves to do so. After making enquiries, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the director continues to adopt the going concern basis in preparing the financial statements. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and Value Added Tax. |
| Intangible assets |
| Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
| Tangible fixed assets |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful |
| life. |
| Long leasehold - Straight line over 15 years |
| Plant and machinery - 33% on cost |
| Fixtures and fittings - 33% on cost |
| Computer equipment - 33% on cost |
| WHITECLUB LIMITED (REGISTERED NUMBER: 04691557) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 29 MARCH 2022 |
| 3. | ACCOUNTING POLICIES - continued |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| 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. |
| Coronavirus job retention scheme |
| The Coronavirus Job Retention Scheme (CJRS) is a government wage support measure. It is designed to protect jobs in the wake of the economic impacts of the COVID-19 pandemic, and to support employers to continue paying wages. The CJRS allows employers to reclaim up to 80% of the wage costs of 'furloughed employees,' being those directly impacted by the pandemic, up to a cap of £2,500 per month per employee. |
| Business bounce back loan scheme |
| The Bounce Back Loan Scheme (BBLS) enables smaller businesses to access finance more quickly during the coronavirus outbreak. The scheme helps small and medium sized businesses to borrow between £2,000 and up to 25% of their turnover. The maximum loan available is £50,000. The government guarantees 100% for the loan and there are no fees or interest to pay for the first 12 months. After 12 months the interest rate will be 2.5% per annum. |
| Other grants relating to covid-19 |
| Eligible businesses that were forced to close due to the government lockdown of specific businesses during the COVID-19 pandemic were entitled to a cash grant from their local council for each period under national |
| restrictions. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| WHITECLUB LIMITED (REGISTERED NUMBER: 04691557) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 29 MARCH 2022 |
| 5. | INTANGIBLE FIXED ASSETS |
| Other |
| intangible |
| assets |
| £ |
| Cost |
| At 30 March 2021 |
| and 29 March 2022 |
| Amortisation |
| At 30 March 2021 |
| Charge for year |
| At 29 March 2022 |
| Net book value |
| At 29 March 2022 |
| At 29 March 2021 |
| 6. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Long | Plant and | and | Computer |
| leasehold | machinery | fittings | equipment | Totals |
| £ | £ | £ | £ | £ |
| Cost |
| At 30 March 2021 |
| and 29 March 2022 |
| Depreciation |
| At 30 March 2021 |
| Charge for year |
| At 29 March 2022 |
| Net book value |
| At 29 March 2022 |
| At 29 March 2021 |
| WHITECLUB LIMITED (REGISTERED NUMBER: 04691557) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 29 MARCH 2022 |
| 7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Amounts owed by group undertakings |
| Other debtors |
| VAT |
| Prepayments |
| Included within "Other debtors" is an amount of £8,417 (2021: £8,417) due is respect of a rent deposit which is recoverable more than one year from the balance sheet date. |
| 8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans and overdrafts |
| Trade creditors |
| Amounts owed to group undertakings |
| Tax |
| Social security and other taxes |
| Other creditors |
| Accrued expenses |
| The loan is 100% guaranteed by the government in line with the COVID scheme rules. Interest is being charged at 0% in the first year and 2.5% per annum thereafter. |
| 9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2022 | 2021 |
| £ | £ |
| Bank loans - 1-2 years |
| The loan is 100% guaranteed by the government in line with the COVID scheme rules. Interest is being charged at 0% in the first year and 2.5% per annum thereafter. |
| 10. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2022 | 2021 |
| value: | £ | £ |
| Ordinary | £1 | 1 | 1 |
| WHITECLUB LIMITED (REGISTERED NUMBER: 04691557) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 29 MARCH 2022 |
| 11. | RELATED PARTY DISCLOSURES |
| The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with other group companies. |