Whalebone Holdings Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 06318565

ABBREVIATED UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2014

FOR

WHALEBONE HOLDINGS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

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

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

2

428,055

428,055

CURRENT ASSETS

Debtors

500

500

Cash at bank

31,091

27,290

31,591

27,790

CREDITORS

Amounts falling due within one year

132,391

90,038

NET CURRENT LIABILITIES

(100,800

)

(62,248

)

TOTAL ASSETS LESS CURRENT LIABILITIES

327,255

365,807

CREDITORS

Amounts falling due after more than one year

3

310,000

350,000

NET ASSETS

17,255

15,807

CAPITAL AND RESERVES

Called up share capital

4

1,000

1,000

Profit and loss account

16,255

14,807

SHAREHOLDERS' FUNDS

17,255

15,807

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 18th December 2014 and were signed on its behalf by:

P D Connell - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

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 has taken the option

under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a

small company.

Turnover

Turnover represents management charges receivable from a subsidiary company.

Deferred tax

Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods

different from those in which they are included in the company's accounts. Deferred tax is provided in full on

timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates

that are expected to apply when the timing differences reverse, based on current tax rates and laws.

Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no

commitment to sell.

Fixed asset investments

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 Profit and Loss Account in the year in which it is incurred.

2.	FIXED ASSET INVESTMENTS

Investments

other

than

loans

£

COST

At 1st April 2013

and 31st March 2014

428,055

NET BOOK VALUE

At 31st March 2014

428,055

At 31st March 2013

428,055

The company's investments at the balance sheet date, amounting to £428,055 (2013 - £428,055), included 100%

ownership of ordinary shares in Whalebone Investment Co Ltd, whose main activity is that of property

investment. The subsidiary's aggregate capital and reserves amounted to £831,697 (2013 - £831,265) and profit

for the year amounted to £432 (2013 - loss £16,927).

3.

CREDITORS

Creditors include an amount of £ 310,000 (2013 - £ 350,000 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

1,000

Ordinary shares

£1

1,000

1,000