Company Registration No. 06176011 (England and Wales)
C. Wells Properties Limited
Unaudited accounts
for the year ended 31 March 2022
C. Wells Properties Limited
Unaudited accounts
Contents
C. Wells Properties Limited
Company Information
for the year ended 31 March 2022
Company Number
06176011 (England and Wales)
Registered Office
12 Priestly Drive
Tonbridge
Kent
TN10 4RS
Accountants
Worthweld PT Limited
5 Field End
Maresfield
Uckfield
East Sussex
TN22 2DJ
C. Wells Properties Limited
Statement of financial position
as at 31 March 2022
Cash at bank and in hand
18,297
11,962
Creditors: amounts falling due within one year
(19,802)
(11,212)
Net current assets
2,432
1,680
Total assets less current liabilities
3,474
2,420
Provisions for liabilities
Called up share capital
2
2
Profit and loss account
3,274
2,284
Shareholders' funds
3,276
2,286
For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 8 August 2022 and were signed on its behalf by
C B Wells
Director
Company Registration No. 06176011
C. Wells Properties Limited
Notes to the Accounts
for the year ended 31 March 2022
C. Wells Properties Limited is a private company, limited by shares, registered in England and Wales, registration number 06176011. The registered office is 12 Priestly Drive, Tonbridge, Kent, TN10 4RS.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% per annum on the reducing balance method
Motor vehicles
25% per annum on the reducing balance method
Computer equipment
25% per annum on the reducing balance method
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 includes all direct expenditure and an appropriate proportion of fixed and variable overheads.
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
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 assets and liabilities are not discounted.
C. Wells Properties Limited
Notes to the Accounts
for the year ended 31 March 2022
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 April 2021
2,587
3,965
1,069
7,621
At 31 March 2022
3,127
3,965
1,069
8,161
At 1 April 2021
2,535
3,302
1,044
6,881
Charge for the year
65
166
7
238
At 31 March 2022
2,600
3,468
1,051
7,119
At 31 March 2022
527
497
18
1,042
At 31 March 2021
52
663
25
740
5
Debtors: amounts falling due within one year
2022
2021
Accrued income and prepayments
477
435
6
Creditors: amounts falling due within one year
2022
2021
Taxes and social security
1,768
24
Loans from directors
10,611
6,359
7
Deferred taxation
2022
2021
Accelerated capital allowances
198
134
Provision at start of year
134
188
Charged/(credited) to the profit and loss account
64
(54)
Provision at end of year
198
134
C. Wells Properties Limited
Notes to the Accounts
for the year ended 31 March 2022
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2
2
9
Transactions with related parties
The company is controlled by the Director.
During the year the Director continued to provide a loan to the company. At the balance sheet date the amount due to the Director was £10611 (2021: £6359).
No other transactions required reporting during the year.
10
Average number of employees
During the year the average number of employees was 1 (2021: 1).