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Registration number: NI034143

Wellington Gifts Ltd

Unaudited Financial Statements

for the Year Ended 28 February 2023

 

Wellington Gifts Ltd

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 4

 

Wellington Gifts Ltd

(Registration number: NI034143)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

5

155,158

155,210

Current assets

 

Debtors

234

-

Creditors: Amounts falling due within one year

6

(298,805)

(283,237)

Net current liabilities

 

(298,571)

(283,237)

Total assets less current liabilities

 

(143,413)

(128,027)

Creditors: Amounts falling due after more than one year

6

(150,000)

(150,000)

Net liabilities

 

(293,413)

(278,027)

Capital and reserves

 

Called up share capital

7

36,000

36,000

Retained earnings

(329,413)

(314,027)

Shareholders' deficit

 

(293,413)

(278,027)

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 31 October 2023
 

.........................................
Mr William J Alexander
Director

 

Wellington Gifts Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in Northern Ireland.

The address of its registered office is:
14-16 Church Street
Ballymena
Co Antrim
BT43 6DE

These financial statements were authorised for issue by the director on 31 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The business ceased trading on 31/08/2018 and is to be wound up.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & fittings

25% reducing balance basis

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2022 - 2).

 

Wellington Gifts Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

4

Loss before tax

Arrived at after charging/(crediting)

2023
£

2022
£

Depreciation expense

52

70

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2022

155,000

20,095

175,095

At 28 February 2023

155,000

20,095

175,095

Depreciation

At 1 March 2022

-

19,885

19,885

Charge for the year

-

52

52

At 28 February 2023

-

19,937

19,937

Carrying amount

At 28 February 2023

155,000

158

155,158

At 28 February 2022

155,000

210

155,210

Included within the net book value of land and buildings above is £155,000 (2022 - £155,000) in respect of freehold land and buildings.
 

During the year ended 28 February 2019, the mortgage holder had the premises revalued at £155,000, the market value.

 

Wellington Gifts Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

145,288

137,710

Trade creditors

 

1,189

1,179

Taxation and social security

 

19,212

19,186

Accruals and deferred income

 

18,679

13,069

Other creditors

 

114,437

112,093

 

298,805

283,237

Creditors: amounts falling due after more than one year

2023
£

2022
£

Due after one year

Other non-current financial liabilities

150,000

150,000

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary shares of £1 each

36,000

36,000

36,000

36,000