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REGISTERED NUMBER: SC155450 (Scotland)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

Welby Healthcare Limited

Welby Healthcare Limited (Registered number: SC155450)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

Welby Healthcare Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: Mr S Welby
Mrs A Welby





SECRETARY: Mrs A Welby





REGISTERED OFFICE: 29 Brandon Street
Hamilton
South Lanarkshire
ML3 6DA





REGISTERED NUMBER: SC155450 (Scotland)





ACCOUNTANTS: Sharles Ltd
Chartered Accountants
29 Brandon Street
Hamilton
ML3 6DA

Welby Healthcare Limited (Registered number: SC155450)

Balance Sheet
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 16,154 25,912

CURRENT ASSETS
Stocks 213,651 171,953
Debtors 6 747,474 453,962
Cash at bank 765,681 1,180,157
1,726,806 1,806,072
CREDITORS
Amounts falling due within one year 7 194,460 305,108
NET CURRENT ASSETS 1,532,346 1,500,964
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,548,500

1,526,876

PROVISIONS FOR LIABILITIES 3,069 18,090
NET ASSETS 1,545,431 1,508,786

CAPITAL AND RESERVES
Called up share capital 50,000 50,000
Share premium 12,400 12,400
Capital redemption reserve 17,600 17,600
Retained earnings 1,465,431 1,428,786
SHAREHOLDERS' FUNDS 1,545,431 1,508,786

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

Welby Healthcare Limited (Registered number: SC155450)

Balance Sheet - continued
30 June 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 3 October 2023 and were signed on its behalf by:





Mrs A Welby - Director


Welby Healthcare Limited (Registered number: SC155450)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Welby Healthcare Limited is a private company, limited by shares , registered in Scotland. 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. STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover and revenue recognition
Turnover is derived from the development and manufacture of specialist skincare and healthcare products.

Turnover is measured at the fair value of the skincare and healthcare products, net of discounts and excluding value added tax, and is recognised at the point that the company obtains the right to consideration.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on cost and 10% on cost

Tangible fixed assets held for the companies own use are stated at cost less accumulated depreciation and accumulated impairment loss.

At each balance sheet date, the company reviews the carrying amounts of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Expenditure of £1,000 or more on individual tangible fixed assets is capitalised at cost. Expenditure on assets below this threshold is charged directly to the income statement in the period it is incurred.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.


Welby Healthcare Limited (Registered number: SC155450)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

3. ACCOUNTING POLICIES - continued
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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 8 ) .

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 July 2022
and 30 June 2023 132,096
DEPRECIATION
At 1 July 2022 106,184
Charge for year 9,758
At 30 June 2023 115,942
NET BOOK VALUE
At 30 June 2023 16,154
At 30 June 2022 25,912

Welby Healthcare Limited (Registered number: SC155450)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 447,555 297,002
Other debtors 299,919 156,960
747,474 453,962

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 39,873 81,313
Taxation and social security 150,088 216,642
Other creditors 4,499 7,153
194,460 305,108

8. RELATED PARTY DISCLOSURES

The company operates a loan account with the director, Mrs A Welby.

During the year, the company advanced loans totalling £107,474 to the Director. At the year end, the balance due to the company was £216,343 (2022: £108,870). There are no fixed repayment terms and no interest charged.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Welby Healthcare 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 Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Welby Healthcare Limited for the year ended 30 June 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of ICAS, we are subject to its ethical and other professional requirements which are detailed at http://www.icas.com/accountspreparationguidance.

This report is made solely to the Board of Directors of Welby Healthcare Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Welby Healthcare Limited and state those matters that we have agreed to state to the Board of Directors of Welby Healthcare Limited, as a body, in this report in accordance with the requirements of ICAS as detailed at http://www.icas.com/accountspreparationguidance. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Welby Healthcare Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Welby Healthcare Limited. You consider that Welby Healthcare Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Welby Healthcare Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Sharles Ltd
Chartered Accountants
29 Brandon Street
Hamilton
ML3 6DA


3 October 2023