Whitt Bros. Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 00412671 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 August 2023

for

WHITT BROS. LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M V Whitt

I W Whitt

Mrs W Anderson

SECRETARY:

M V Whitt

REGISTERED OFFICE:

65 Leadenhall Street

London

London

EC3A 2AD

REGISTERED NUMBER:

00412671 (England and Wales)

FIXED ASSETS

Tangible assets

4

552,417

476,575

CURRENT ASSETS

Stocks

-

10,028

Debtors

5

113,235

135,149

Cash at bank

468,620

526,368

581,855

671,545

CREDITORS

Amounts falling due within one year

6

35,464

73,436

NET CURRENT ASSETS

546,391

598,109

TOTAL ASSETS LESS CURRENT LIABILITIES

1,098,808

1,074,684

CREDITORS

Amounts falling due after more than one year

7

17,963

28,274

NET ASSETS

1,080,845

1,046,410

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

1,079,845

1,045,410

SHAREHOLDERS' FUNDS

1,080,845

1,046,410

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 August 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2023 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 May 2024 and were signed on its behalf by:

I W Whitt - Director

1.	STATUTORY INFORMATION

Whitt Bros. 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

2% on cost

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Land and

buildings

£

COST

At 1 September 2022

738,458

Additions

90,493

At 31 August 2023

828,951

DEPRECIATION

At 1 September 2022

261,883

Charge for year

14,651

At 31 August 2023

276,534

NET BOOK VALUE

At 31 August 2023

552,417

At 31 August 2022

476,575

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

36,283

42,246

Related parties

69,609

67,059

Other debtors

7,343

25,844

113,235

135,149

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

10,058

9,809

Trade creditors

3,568

36,491

Taxation and social security

16,787

22,085

Other creditors

5,051

5,051

35,464

73,436

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

17,963

28,274

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 August 2023 and 31 August 2022:

2023

2022

£

£

M V Whitt

Balance outstanding at start of year

16,144

28,844

Amounts advanced

1,022

1,305

Amounts repaid

(10,770

)

(14,005

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

6,396

16,144

Interest is payable, by the Director, on the above loan, at a rate of 3% per annum. During the year £1,022 of interest was charged.

9.	RELATED PARTY DISCLOSURES

Included in turnover is rent received from Whitt Bros Contractors Limited, amounting to £6,609 (2022: £10,929). Whitt Bros Contractors Limited is a wholly owned subsidiary of Whitt Bros Management Limited. Whitt Bros Management Limited has the same directors and shareholders as Whitt Bros Limited. The amount due from Whitt Bros Contractors Limited at the balance sheet date was £69,609 (2022: £67,059).

During the year the Company invoiced M V Whitt, a Director of this company, £10,452 (2022: £21,600) in respect of construction work carried out. At the year, the company was owed an amount of £14,457 (2022: £14,457) from MV Whitt.