Company Registration No. 03009634 (England and Wales)
Whiteleys of Halifax Limited
Unaudited
Financial Statements
for the year ended 31 January 2021
PAGES FOR FILING WITH REGISTRAR
Whiteleys of Halifax Limited
Contents
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
Whiteleys of Halifax Limited
Balance Sheet
as at 31 January 2021
31 January 2021
- 1 -
2021
2020
Notes
£
£
£
£
Fixed assets
Tangible assets
3
579
681
Current assets
Stocks
2,252
2,650
Debtors
4
6,855
4,080
Cash at bank and in hand
7,866
291
16,973
7,021
Creditors: amounts falling due within one year
5
(14,802)
(13,346)
Net current assets/(liabilities)
2,171
(6,325)
Total assets less current liabilities
2,750
(5,644)
Creditors: amounts falling due after more than one year
6
(7,467)
Provisions for liabilities
7
(130)
Net liabilities
(4,717)
(5,774)
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
(4,817)
(5,874)
Total equity
(4,717)
(5,774)
Whiteleys of Halifax Limited
Balance Sheet (continued)
as at 31 January 2021
31 January 2021
- 2 -
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.
true
For the financial year ended 31 January 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
T
he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476
.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 10 May 2021 and are signed on its behalf by:
R W Whiteley
Director
Company Registration No. 03009634
Whiteleys of Halifax Limited
Notes to the financial statements
for the year ended 31 January 2021
- 3 -
1
Accounting policies
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The financial statements are prepared in
sterling
, which is the functional currency of the company.
Turnover
Turnover
represents
the fair value of the consideration received for goods provided in the normal course of business
, and
is shown net of VAT
.
Turnover is recognised on the supply of goods.
Tangible fixed assets
Tangible fixed assets
are initially measured at cost and subsequently measured at cost
less depreciation
.
Depreciation is recognised so as to write off the cost of assets less their residual values over their useful lives on the following bases:
Fixtures, fittings & equipment
- 15% reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and
is credited or charged to profit or loss
.
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The
company’s
liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred
tax is recognised on all timing differences between the carrying amount of of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is then settled or the asset realised, based on the tax rates that have been enacted or substantively enacted by the end of the reporting period.
Whiteleys of Halifax Limited
Notes to the financial statements (continued)
for the year ended 31 January 2021
- 4 -
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2021
2020
Number
Number
Total
2
2
3
Tangible fixed assets
Fixtures, fittings & equipment
£
Cost
At 1 February 2020 and 31 January 2021
10,712
Depreciation and impairment
At 1 February 2020
10,031
Depreciation charged in the year
102
At 31 January 2021
10,133
Carrying amount
At 31 January 2021
579
At 31 January 2020
681
4
Debtors
2021
2020
Amounts falling due within one year:
£
£
Trade debtors
6,382
3,607
Corporation tax recoverable
473
473
6,855
4,080
Whiteleys of Halifax Limited
Notes to the financial statements (continued)
for the year ended 31 January 2021
- 5 -
5
Creditors: amounts falling due within one year
2021
2020
£
£
Bank loan
533
6,249
Trade creditors
2,654
2,825
Taxation and social security
1,040
537
Other creditors
9,408
1,871
Accruals and deferred income
1,167
1,864
14,802
13,346
Bank loan is secured.
6
Creditors: amounts falling due after more than one year
2021
2020
£
£
Bank loans and overdrafts
7,467
Bank loan is secured.
7
Provisions for liabilities
2021
2020
£
£
Deferred tax liabilities
130
8
Company information
Whiteleys of Halifax Limited is a
private
company
limited by shares
incorporated in England and Wales.
The registered office is
5/6 Bank End, Upper Greetland, Halifax, HX4 8PR.