Whitstable Properties Limited Filleted accounts for Companies House (small and micro)

WHITSTABLE PROPERTIES LIMITED - Company Information

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COMPANY REGISTRATION NUMBER: 03643300

Whitstable Properties Limited

Filleted Unaudited Financial Statements

31 October 2023

Whitstable Properties Limited

Financial Statements

Year ended 31 October 2023

Contents	Page

Statement of financial position	1

Notes to the financial statements	3

Whitstable Properties Limited

Statement of Financial Position

31 October 2023

	2023		2022
Note	£	£	£

Current assets

Stocks		720,077	720,077
Debtors	5	229	20
Cash at bank and in hand		308	252
		---------	---------
		720,614	720,349

Creditors: amounts falling due within one year	6	96,240		95,810
		---------		---------
Net current assets			624,374	624,539
			---------	---------
Total assets less current liabilities			624,374	624,539

Creditors: amounts falling due after more than one year	7	952,207	944,892
		---------	---------
Net liabilities		( 327,833)	( 320,353)
		---------	---------

Capital and reserves

Called up share capital	90	90
Profit and loss account	( 327,923)	( 320,443)
	---------	---------
Shareholders deficit	( 327,833)	( 320,353)
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 31 October 2023 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 financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Whitstable Properties Limited

Statement of Financial Position (continued)

31 October 2023

These financial statements were approved by the board of directors and authorised for issue on 25 March 2024 , and are signed on behalf of the board by:

Mrs J F Marsh

Director

Company registration number: 03643300

Whitstable Properties Limited

Notes to the Financial Statements

Year ended 31 October 2023

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 226 Lyndhurst Avenue, Twickenham, TW2 6BS, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The accounts have been prepared on a going concern basis due to the director's belief that the property will make significantly more than the stock value. Creditors have agreed to have liabilities repaid with realisation of property.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with stated interest rate and receivable of payable within one year arerecorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

4. Employee numbers

The average number of persons employed by the company during the year, excluding the directors, amounted to 0 (2022: 0)

5. Debtors

	2023	2022
	£	£
Other debtors	229	20
	----	----

6. Creditors: amounts falling due within one year

	2023	2022
	£	£
Trade creditors	95,245	94,625
Other creditors	995	1,185
	--------	--------
	96,240	95,810
	--------	--------

7. Creditors: amounts falling due after more than one year

	2023	2022
	£	£
Other creditors	952,207	944,892
	---------	---------

8. Related party transactions

At the year end the company owed the Directors £645,114 (2022: £641,456). At the year end, the company owes £307,093 (2022: £303,436) to a company which is associated by common key management.