Whitesides Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04480175 (England and Wales)

Whitesides Limited

Unaudited Financial Statements for the Year Ended 30 September 2021

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

Directors:

Mr L R Whiteside

Mr B Whiteside

Secretary:

Mrs E G Whiteside

Registered office:

Old Bell Cottage

School Lane

Pilling

Preston

Lancashire

PR3 6HB

Registered number:

04480175 (England and Wales)

Accountants:

RfM Fylde Limited

Summerdale

Head Dyke Lane

Pilling

Preston

Lancashire

PR3 6SJ

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Whitesides Limited for the year ended 30 September 2021 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Whitesides Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Whitesides Limited and state those matters that we have agreed to state to the Board of Directors of Whitesides Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Whitesides Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Whitesides Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Whitesides Limited. You consider that Whitesides Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Whitesides Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

RfM Fylde Limited

Summerdale

Head Dyke Lane

Pilling

Preston

Lancashire

PR3 6SJ

24 March 2022

Fixed assets

Intangible assets

4

-

-

Tangible assets

5

39,572

31,000

39,572

31,000

Current assets

Stocks

6

52,142

10,000

Debtors

7

19,160

14,653

Cash at bank

28,064

126,015

99,366

150,668

Creditors

Amounts falling due within one year

8

37,628

111,052

Net current assets

61,738

39,616

Total assets less current liabilities

101,310

70,616

Creditors

Amounts falling due after more than one year

9

(47,513

)

-

Provisions for liabilities

(7,518

)

(5,889

)

Net assets

46,279

64,727

Capital and reserves

Called up share capital

10

1,000

1,000

Retained earnings

45,279

63,727

Shareholders' funds

46,279

64,727

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 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 24 March 2022 and were signed on its behalf by:

Mr L R Whiteside - Director

1.	Statutory information

Whitesides 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2006, is being amortised evenly over its estimated useful life of ten years.

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.

Plant and machinery

-

15% on reducing balance

Motor vehicles

-

25% on reducing balance

Government grants

Government grants which are revenue grants are accounted for on the performance model. A grant that does not impose specified future performance-related conditions is recognised in other income when the grant proceeds are received or receivable. A grant that imposes specified future performance-related conditions on the company is recognised in income only when the performance-related conditions are met.

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	Employees and directors

The average number of employees during the year was 5 (2020 - 4 ) .

4.	Intangible fixed assets

Goodwill

£

Cost

At 1 October 2020

and 30 September 2021

30,000

Amortisation

At 1 October 2020

and 30 September 2021

30,000

Net book value

At 30 September 2021

-

At 30 September 2020

-

5.	Tangible fixed assets

Plant and

Motor

machinery

vehicles

Totals

£

£

£

Cost

At 1 October 2020

55,685

11,303

66,988

Additions

875

18,633

19,508

Disposals

-

(5,803

)

(5,803

)

At 30 September 2021

56,560

24,133

80,693

Depreciation

At 1 October 2020

29,320

6,668

35,988

Charge for year

4,086

5,473

9,559

Eliminated on disposal

-

(4,426

)

(4,426

)

At 30 September 2021

33,406

7,715

41,121

Net book value

At 30 September 2021

23,154

16,418

39,572

At 30 September 2020

26,365

4,635

31,000

6.

Stocks

2021

2020

£

£

Stocks

6,000

5,000

Work-in-progress

46,142

5,000

52,142

10,000

7.

Debtors: amounts falling due within one year

2021

2020

£

£

Trade debtors

18,820

14,480

Other debtors

340

173

19,160

14,653

8.

Creditors: amounts falling due within one year

2021

2020

£

£

Bank loans and overdrafts

1,243

-

Trade creditors

29,086

12,599

Taxation and social security

6,678

14,956

Other creditors

621

83,497

37,628

111,052

9.

Creditors: amounts falling due after more than one year

2021

2020

£

£

Bank loans

47,513

-

2021

2020

£

£

Amounts falling due in more than five years:

Repayable by instalments

Bank loans

26,541

-

10.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

1,000

Ordinary

£1

1,000

1,000