Whalebone Holdings Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06318565 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2021

FOR

WHALEBONE HOLDINGS LIMITED

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTORS:

P D Connell

Mrs J A L Connell

J D Connell

SECRETARY:

P D Connell

REGISTERED OFFICE:

Priestley House

Priestley Gardens

Chadwell Heath

Essex

RM6 4SN

REGISTERED NUMBER:

06318565 (England and Wales)

ACCOUNTANTS:

Chegwidden & Co

Chartered Accountants

Priestley House

Priestley Gardens

Chadwell Heath

Essex

RM6 4SN

SOLICITORS:

Messrs. Mullis and Peake

8-10 Eastern Road

Romford

Essex

RM1 3PJ

FIXED ASSETS

Investments

4

428,055

428,055

CURRENT ASSETS

Debtors

1,026

500

Cash at bank

21,780

49,371

22,806

49,871

CREDITORS

Amounts falling due within one year

181,152

245,920

NET CURRENT LIABILITIES

(158,346

)

(196,049

)

TOTAL ASSETS LESS CURRENT LIABILITIES

269,709

232,006

CREDITORS

Amounts falling due after more than one year

238,217

201,550

NET ASSETS

31,492

30,456

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

30,492

29,456

SHAREHOLDERS' FUNDS

31,492

30,456

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 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.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Statement of Financial Position for the year ended 31st March 2021 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 22nd December 2021 and were signed on its behalf by:

P D Connell - Director

1.	STATUTORY INFORMATION

Whalebone Holdings 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Preparation of consolidated financial statements

The financial statements contain information about Whalebone Holdings Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover represents the fair value of management charges receivable from a subsidiary company, excluding value added tax, once the income and related costs incurred can be reliably measured, and it is probable that the economic benefits will flow to the company.

Investments in subsidiaries

The company's investment in the subsidiary company is stated at cost and annual reviews are carried out to ensure the carrying value is not overstated. Adjustments relating to the permanent reduction in the carrying value is recognised in the Income Statement in the year in which it is incurred.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 3 (2020 - 3 ) .

4.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1st April 2020

and 31st March 2021

428,055

NET BOOK VALUE

At 31st March 2021

428,055

At 31st March 2020

428,055

5.	SECURED DEBTS

The company's bank borrowings of £122,000 (2020 - £148,000) are secured on investment properties held by the subsidiary company.

6.	RELATED PARTY DISCLOSURES

During the year, total dividends of £12,000 (2020 - £18,000) were paid to the directors .

7.	POST BALANCE SHEET EVENTS

The company continues to closely monitor the impact of the Coronavirus pandemic which has adversely affected global economies, businesses and individuals during 2020. Although the current general economic outlook remains uncertain, the company remains in a strong position to meet the challenges ahead. The Board has taken steps to ensure income is preserved, and ensure cashflow and expenditure is controlled to sustain the business in future periods.