Whalebone Holdings Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06318565 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2018

FOR

WHALEBONE HOLDINGS LIMITED

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

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 (England and Wales)

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

4

428,055

428,055

CURRENT ASSETS

Debtors

500

500

Cash at bank

66,347

190,095

66,847

190,595

CREDITORS

Amounts falling due within one year

192,908

305,033

NET CURRENT LIABILITIES

(126,061

)

(114,438

)

TOTAL ASSETS LESS CURRENT LIABILITIES

301,994

313,617

CREDITORS

Amounts falling due after more than one year

273,550

285,550

NET ASSETS

28,444

28,067

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

27,444

27,067

SHAREHOLDERS' FUNDS

28,444

28,067

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Statement of Financial Position for the year ended 31st March 2018 in accordance with Section 444(2A) of the Companies Act 2006.

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 on 17th December 2018 and were signed on its behalf by:

P D Connell - Director

1.	STATUTORY INFORMATION

Whalebone Holdings 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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 is exempt under Section

399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Turnover

Turnover represents the fair value of management charges receivable from a subsidiary company, excluding

value added tax, once the income and related costs incurred can be reliably measured, and it is probable that the

economic benefits will flow to the company.

Investments in subsidiaries

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 Income Statement in the year in which it is incurred.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2017 - 3 ) .

4.	FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:

Totals

£

COST

At 1st April 2017

and 31st March 2018

428,055

NET BOOK VALUE

At 31st March 2018

428,055

At 31st March 2017

428,055

5.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank loans

196,000

208,000

The company's bank borrowings are secured on investment properties held by the subsidiary company.