Registered number
04878172
Wells Senior Limited
Filleted Accounts
31 March 2023
Wells Senior Limited
Registered number: 04878172
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 35,757 46,996
Current assets
Stocks 3,700 4,500
Debtors 4 59,857 36,962
Cash at bank and in hand 68,409 78,092
131,966 119,554
Creditors: amounts falling due within one year 5 (58,963) (55,614)
Net current assets 73,003 63,940
Total assets less current liabilities 108,760 110,936
Creditors: amounts falling due after more than one year 6 (22,500) (32,500)
Provisions for liabilities (6,794) (8,929)
Net assets 79,466 69,507
Capital and reserves
Called up share capital 2 2
Profit and loss account 79,464 69,505
Shareholders' funds 79,466 69,507
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mr G J Wells
Director
Approved by the board on 13 November 2023
Wells Senior Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures & equipment 25% reducing balance
Bicycle 25% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
Grant income
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 4 4
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2022 34,010 57,063 91,073
Additions 690 - 690
At 31 March 2023 34,700 57,063 91,763
Depreciation
At 1 April 2022 28,427 15,650 44,077
Charge for the year 1,576 10,353 11,929
At 31 March 2023 30,003 26,003 56,006
Net book value
At 31 March 2023 4,697 31,060 35,757
At 31 March 2022 5,583 41,413 46,996
4 Debtors 2023 2022
£ £
Trade debtors 51,600 32,100
Other debtors 8,257 4,862
59,857 36,962
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,000 10,000
Trade creditors 939 1,787
Taxation and social security costs 44,609 40,602
Other creditors 3,415 3,225
58,963 55,614
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 22,500 32,500
7 Pension commitments
The company operates an Auto Enrolment Pension Scheme. The costs are expensed to the Profit and Loss account in the period to which they relate.
8 Other financial commitments 2023 2022
£ £
Total future minimum payments under non-cancellable operating leases 10,532 -
9 Related party transactions
The directors received salaries of £20,360 (2022: £19,200) during the year.

The balance of the directors loan was £Nil (2022: £Nil) at the year end. Advances of £98,000 and repayments of £98,000 were made during the year, and no amounts were written off. This loan is interest free and repayable on demand.
10 Other information
Wells Senior Limited is a private company limited by shares and incorporated in England. Its registered office is:
Gunnery House
Gunnery Terrace
Leamington Spa
Warwickshire
CV32 5PE
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