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Registered Number: 13333224
England and Wales

 

 

 

WELLNESS CAPITAL LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 May 2022

End date: 30 April 2023
Directors Mr A Panayiotou
Mr A M Pritchard
Registered Number 13333224
Registered Office Windfall House D1, The Courtyard
Alban Park, St Albans
Hertfordshire
AL4 0LA
Accountants IAC Accountants Ltd
Windfall House, D1 The Courtyard
Alban Park, St Albans
AL4 0LA
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Intangible fixed assets 3 90,000   
90,000   
Current assets      
Stocks 4 218,242   
Debtors 5 208,060   
Cash at bank and in hand 45,839    1 
472,141    1 
Creditors: amount falling due within one year 6 (555,817)  
Net current liabilities (83,676)   1 
 
Total assets less current liabilities 6,324    1 
Net assets 6,324    1 
 

Capital and reserves
     
Called up share capital 400    1 
Profit and loss account 5,924   
Shareholder's funds 6,324    1 
 


For the year ended 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements 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 Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the board of directors on 18 October 2023 and were signed on its behalf by:


-------------------------------
Mr A Panayiotou
Director
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General Information
Wellness Capital Limited is a private company, limited by shares, registered in England and Wales, registration number 13333224, registration address Windfall House D1, The Courtyard, Alban Park, St Albans, Hertfordshire, AL4 0LA.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
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 taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.

Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.

Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible assets (including purchased goodwill and patents) are amortised at rates calculated to write off the assets on a straight line basis over their estimated useful economic lives. Impairment of intangible assets is only reviewed where circumstances indicate that the carrying value of an asset may not be fully recoverable.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of 10 years.
Stocks
Stocks 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 costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 2 (2022 : 0).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 May 2022  
Additions 100,000    100,000 
Disposals  
At 30 April 2023 100,000    100,000 
Amortisation
At 01 May 2022  
Charge for year 10,000    10,000 
On disposals  
At 30 April 2023 10,000    10,000 
Net book values
At 30 April 2023 90,000    90,000 
At 30 April 2022  


4.

Stocks

2023
£
  2022
£
Stocks 218,242   
218,242   

5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 160,816   
VAT 47,244   
208,060   

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors 244,490   
Corporation Tax 3,735   
Accrued Expenses 55,419   
Other Creditors 78,255   
Amount due to Related Company 123,918   
Directors' Current Accounts 50,000   
555,817   

7.

Related Party Transactions

Creditors due within one year includes an interest free amount of £50,000 due to the directors. This loan is repayable on demand.


Creditors due within one year includes an interest free amount of £123,918 due to related company in which the director has controlling interest. This loan is repayable on demand. 
3