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REGISTERED NUMBER: 05015140 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2023

for

Wellinn Developments Limited

Wellinn Developments Limited (Registered number: 05015140)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 7

Wellinn Developments Limited

Company Information
for the Year Ended 31 January 2023







DIRECTORS: S Linn
K Wells





SECRETARY: K Wells





REGISTERED OFFICE: 20 Tregaron Avenue
Portsmouth
Hampshire
PO6 2JX





REGISTERED NUMBER: 05015140 (England and Wales)





ACCOUNTANTS: Johnston Wood Roach Limited
24 Picton House
Hussar Court
Waterlooville
Hampshire
PO7 7SQ

Wellinn Developments Limited (Registered number: 05015140)

Balance Sheet
31 January 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 575,000 430,000

CURRENT ASSETS
Cash at bank 7,682 16,235

CREDITORS
Amounts falling due within one year 5 7,395 20,583
NET CURRENT ASSETS/(LIABILITIES) 287 (4,348 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

575,287

425,652

CREDITORS
Amounts falling due after more than one
year

6

(251,550

)

(251,518

)

PROVISIONS FOR LIABILITIES (72,479 ) (27,534 )
NET ASSETS 251,258 146,600

CAPITAL AND RESERVES
Called up share capital 8 2 2
Revaluation reserve 9 217,436 117,381
Retained earnings 33,820 29,217
SHAREHOLDERS' FUNDS 251,258 146,600

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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.

Wellinn Developments Limited (Registered number: 05015140)

Balance Sheet - continued
31 January 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2023 and were signed on its behalf by:





K Wells - Director


Wellinn Developments Limited (Registered number: 05015140)

Notes to the Financial Statements
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

Wellinn Developments 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 (£).


Accounts are rounded to the nearest pound.

The accounts represent the company as an individual entity.

2. ACCOUNTING POLICIES

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

Significant judgements and estimates
The preparation of financial statements requires the use of estimates and assumptions that affect reported amounts of assets and liabilities at the date of the financial statements, and revenues and expenses during the reporting period. These estimates and assumptions are based on management's best knowledge of the amount, events or actions. Actual results may differ from those amounts.

Management do not consider there to be any significant judgements or estimates used in the preparation of these financial statements.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the revaluation reserve

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 NIL (2022 - NIL).

Wellinn Developments Limited (Registered number: 05015140)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2022 430,000
Revaluations 145,000
At 31 January 2023 575,000
NET BOOK VALUE
At 31 January 2023 575,000
At 31 January 2022 430,000

Fair value at 31 January 2023 is represented by:
£   
Valuation in 2006 3,500
Valuation in 2006 5,015
Valuation in 2008 7,570
Valuation in 2017 66,280
Valuation in 2020 60,000
Valuation in 2021 2,549
Valuation in 2023 145,000
Cost 285,086
575,000

If investment property had not been revalued it would have been included at the following historical cost:

31.1.23 31.1.22
£    £   
Cost 285,086 285,086

Investment property was valued on an open market basis on 31 January 2023 by the Directors .

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Taxation and social security 1,080 4,576
Other creditors 6,315 16,007
7,395 20,583

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.23 31.1.22
£    £   
Bank loans 251,550 251,518

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 251,550 251,518

Wellinn Developments Limited (Registered number: 05015140)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

7. SECURED DEBTS

The following secured debts are included within creditors:

31.1.23 31.1.22
£    £   
Bank loans 251,550 251,518

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.1.23 31.1.22
value: £    £   
2 Ordinary £1 2 2

9. RESERVES
Revaluation
reserve
£   
At 1 February 2022 117,381
Property Revaluation 100,055

At 31 January 2023 217,436

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end the company owed £2,492 (2022: £12,180) to the directors.

Wellinn Developments Limited

Report of the Accountants to the Directors of
Wellinn Developments Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Statement of Comprehensive Income and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 January 2023 set out on pages three to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Johnston Wood Roach Limited
24 Picton House
Hussar Court
Waterlooville
Hampshire
PO7 7SQ


Date: .............................................