Whiteley Buro Limited FILLETED ACCOUNTS COVER
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Company No. 07954560
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Whiteley Buro Limited BALANCE SHEET REGISTRAR
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at
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Company No.
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Notes
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2019
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2018
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£
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£
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Current assets
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Stocks
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2
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Debtors
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3
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Cash at bank and in hand
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Creditors: Amount falling due within one year
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4
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(
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(
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Net current assets
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Total assets less current liabilities
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Creditors: Amounts falling due after more than one year
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5
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(
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(
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Net liabilities
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(
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(
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Capital and reserves
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Called up share capital
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Capital redemption reserve
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6
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Profit and loss account
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6
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(
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(
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Total equity
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(
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(
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As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.
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Approved by the board on 28 November 2019
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And signed on its behalf by:
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A.R.G. Whiteley
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Director
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Whiteley Buro Limited NOTES TO THE ACCOUNTS REGISTRAR
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for the year ended 28 February 2019
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1
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Accounting policies
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Basis of preparation
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The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets and in accordance with the accounting policies set out below.
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Turnover
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Revenue from the sale of goods is recognised when all the following conditions are satisfied: • the Company has transferred to the buyer the significant risks and rewards of ownership of the goods; • the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; • the amount of revenue can be measured reliably; • it is probable that the economic benefits associated with the transaction will flow to the Company; and • the costs incurred or to be incurred in respect of the transaction can be measured reliably. Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed. |
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Stocks
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Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Costs, which comprise direct production costs, are based on the method most appropriate to the type of inventory class, but usually on a first-in-first-out basis. Overheads are charged to profit or loss as incurred. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.
When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of inventories recognised as an expense in the period in which the reversal occurs. |
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Trade and other debtors
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Trade and other creditors
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Foreign currencies
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2
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Stocks
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2019
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2018
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£
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£
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Finished goods
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3
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Debtors
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2019
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2018
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£
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£
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Trade debtors
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VAT recoverable
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(
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Other debtors
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Prepayments and accrued income
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4
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Creditors:
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amounts falling due within one year
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2019
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2018
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£
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£
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Trade creditors
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Other taxes and social security
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Other creditors
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5
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Creditors:
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amounts falling due after more than one year
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2019
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2018
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£
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£
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Other creditors
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6
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Reserves
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Capital redemption reserve
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Total other reserves
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£
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£
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Transfers
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At 28 February 2018 and 1 March 2018
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At 28 February 2019
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7
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Related Party Disclosure
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During the year the company received loans totalling £27,000 (2017: £30,000) from another company in which R Grant and N H Koh are directors. During the year, the company made repayments to the said company of £nil (2017: £nil). As at 28 February 2019 Whiteley Buro Limited owed £146,186 (2017: £113,002) to the said company. All balances attract a 5% rate of interest, and are repayable on 28 February 2022.
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During the year the company received loans totalling £63,000 (2017: £40,000) from another company in which A Whiteley is a director. During the year, the company made repayments to the said company of £nil (2017: £nil). As at 28 February 2018 Whiteley Buro Limited owed £341,268 (2017: £263,838) to the said company. All balances attract a 5% rate of interest, and are repayable on 28 February 2022.
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8
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Advances and credits to directors
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Included within Other debtors are the following loans to directors:
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Director
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Description
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At 1 March 2018
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Advanced
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Repaid
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At 28 February 2019
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£
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£
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£
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£
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9
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Additional information
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Its registered number is:
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