ACCOUNTS - Final Accounts preparation

Caseware UK (AP4) 2020.0.247 2020.0.247 2021-05-312021-05-31true12020-06-01true2falseNo description of principal activityThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11981596 2020-06-01 2021-05-31 11981596 2019-05-07 2020-05-31 11981596 2021-05-31 11981596 2020-05-31 11981596 c:Director1 2020-06-01 2021-05-31 11981596 d:CurrentFinancialInstruments 2021-05-31 11981596 d:CurrentFinancialInstruments 2020-05-31 11981596 d:Non-currentFinancialInstruments 2021-05-31 11981596 d:Non-currentFinancialInstruments 2020-05-31 11981596 d:CurrentFinancialInstruments d:WithinOneYear 2021-05-31 11981596 d:CurrentFinancialInstruments d:WithinOneYear 2020-05-31 11981596 d:Non-currentFinancialInstruments d:AfterOneYear 2021-05-31 11981596 d:Non-currentFinancialInstruments d:AfterOneYear 2020-05-31 11981596 d:ShareCapital 2021-05-31 11981596 d:ShareCapital 2020-05-31 11981596 d:RetainedEarningsAccumulatedLosses 2021-05-31 11981596 d:RetainedEarningsAccumulatedLosses 2020-05-31 11981596 c:FRS102 2020-06-01 2021-05-31 11981596 c:AuditExempt-NoAccountantsReport 2020-06-01 2021-05-31 11981596 c:FullAccounts 2020-06-01 2021-05-31 11981596 c:PrivateLimitedCompanyLtd 2020-06-01 2021-05-31 iso4217:GBP xbrli:pure

Registered number: 11981596

WHITEBX LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MAY 2021

WHITEBX LIMITED

REGISTERED NUMBER: 11981596

BALANCE SHEET

AS AT 31 MAY 2021

		2021		2020
Note		£		£


Current assets
Stocks		2,000		-
Debtors: amounts falling due within one year	4	42,961		1,090
Cash at bank and in hand	5	104		50,300
		45,065		51,390
Creditors: amounts falling due within one year	6	(2,000)		(1,500)
Net current assets			43,065		49,890
Total assets less current liabilities			43,065		49,890
Creditors: amounts falling due after more than one year	7		(50,000)		(50,000)

Net liabilities			(6,935)		(110)

Capital and reserves
Called up share capital	100	100
Profit and loss account	(7,035)	(210)
	(6,935)	(110)

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

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WHITEBX LIMITED

REGISTERED NUMBER: 11981596

BALANCE SHEET (CONTINUED)

AS AT 31 MAY 2021

Santiago Esteban Klein

Director

Date: 28 February 2022

The notes on pages 3 to 5 form part of these financial statements.

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WHITEBX LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2021

1.	General information

Whitebx Limited is a private company, limited by shares domiciled in England and Wales,
registration number 11981596. The registered office is 10 Devonshire House Marlborough Drive, Bushey,
WD23 2RL.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Going concern

In assessing the ability of the company to operate as a going concern, management have evaluated current and forecasted operational results, and the solvency of the company. Potential sources of uncertainty noted by the directors include the COVID-19 pandemic. However, at the date of this report it is not possible to reliably determine the effects that this will have on the company.

Accordingly the directors have continued to prepare the financial statements on the going concern basis.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

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WHITEBX LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2021

2.Accounting policies (continued)

2.4

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a SELECT OR ENTER METHOD basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Employees

The average monthly number of employees, including directors, during the year was 1 (2020 - 2).

Debtors

					2021	2020
					£	£


Other debtors	42,961	1,090
	42,961	1,090

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WHITEBX LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2021

5.	Cash and cash equivalents
		2021	2020
		£	£

Cash at bank and in hand	104	50,300
	104	50,300

6.	Creditors: Amounts falling due within one year
		2021	2020
		£	£

Accruals and deferred income	2,000	1,500
	2,000	1,500

7.	Creditors: Amounts falling due after more than one year
		2021	2020
		£	£

Bank loans	50,000	50,000
	50,000	50,000

8.	Related party transactions
	Included within Debtors is £42,810 ( 2020: £990) owed to the company from the director. The balance was subsequently repaid after the year end.

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