White Label System and Concept Limited - Period Ending 2020-12-31

White Label System and Concept Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 4

White Label System and Concept Limited

Company Information

Directors

Mr G Herdlevaer Mr A J Barker

Registered office

Rowan House North 1 The Professional Quarter Shrewsbury Business Park Shrewsbury Shropshire SY2 6LG

Accountants

CBSL Accountants Limited Chartered Accountants Rowan House North 1 The Professional Quarter Shrewsbury Business Park Shrewsbury Shropshire SY2 6LG

White Label System and Concept Limited

(Registration number: 05160999)
Balance Sheet as at 31 December 2020

	Note	2020 £	2019 £
Current assets
Debtors	4	1,028,376	1,028,376
Cash at bank and in hand		1,114	1,129
		1,029,490	1,029,505
Creditors: Amounts falling due within one year	5	(394,888)	(394,888)
Net assets		634,602	634,617
Capital and reserves
Called up share capital	6	15,600	15,600
Profit and loss account		619,002	619,017
Shareholders' funds		634,602	634,617

For the financial year ending 31 December 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 30 September 2021 and signed on its behalf by:
 

Mr A J Barker
Director

White Label System and Concept Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2020

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Rowan House North
1 The Professional Quarter
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG

These financial statements were authorised for issue by the Board on 30 September 2021.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Dividends

Dividend distribution to the company's shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2019 - 2).

White Label System and Concept Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2020

4

Debtors

	Note	2020 £	2019 £
Amounts owed by group undertakings and undertakings in which the company has a participating interest	7	1,028,376	1,028,376
		1,028,376	1,028,376

5

Creditors

Creditors: amounts falling due within one year

	2020 £	2019 £
Due within one year
Other creditors	394,888	394,888

6	Share capital

Allotted, called up and fully paid shares

	2020		2019
	No.	£	No.	£
Ordinary of £0.01 each	1,560,000	15,600.00	1,560,000	15,600.00

7	Related party transactions

At the year end the following amounts were due from / (to) fellow group companies - Contemi Consulting Limited £42,531 (2019 - £42,531) and Herdling AS £985,845 (2019 - £985,845).

8	Parent and ultimate parent undertaking

The company's immediate parent is Herdling AS, incorporated in Norway.