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REGISTERED NUMBER: 03511829 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

FOR

WELLCOME PROPERTIES LTD

WELLCOME PROPERTIES LTD (REGISTERED NUMBER: 03511829)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


WELLCOME PROPERTIES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2023







DIRECTOR: J Rothbart





SECRETARY: Mrs L Rothbart





REGISTERED OFFICE: 115 Craven Park Road
South Tottenham
London
N15 6BL





REGISTERED NUMBER: 03511829 (England and Wales)





ACCOUNTANTS: Venitt and Greaves
Chartered Accountants
115 Craven Park Road
South Tottenham
London
N15 6BL

WELLCOME PROPERTIES LTD (REGISTERED NUMBER: 03511829)

STATEMENT OF FINANCIAL POSITION
28 FEBRUARY 2023

28.2.23 28.2.22
Notes £    £   
FIXED ASSETS
Tangible assets 4 22,990 23,185
Investment property 5 903,761 903,761
926,751 926,946

CURRENT ASSETS
Debtors 6 324,431 220,892
Cash at bank 99,481 120,743
423,912 341,635
CREDITORS
Amounts falling due within one year 7 (962,202 ) (909,004 )
NET CURRENT LIABILITIES (538,290 ) (567,369 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

388,461

359,577

CREDITORS
Amounts falling due after more than one
year

8

(374,337

)

(341,075

)
NET ASSETS 14,124 18,502

CAPITAL AND RESERVES
Called up share capital 10 2 2
Retained earnings 11 14,122 18,500
SHAREHOLDERS' FUNDS 14,124 18,502

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

WELLCOME PROPERTIES LTD (REGISTERED NUMBER: 03511829)

STATEMENT OF FINANCIAL POSITION - continued
28 FEBRUARY 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 director and authorised for issue on 20 November 2023 and were signed by:





J Rothbart - Director


WELLCOME PROPERTIES LTD (REGISTERED NUMBER: 03511829)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1. STATUTORY INFORMATION

Wellcome Properties Ltd 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 (£).


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.

Turnover
Turnover represent net rent and service charges receivable excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - not provided
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on reducing balance

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - 2 ).

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1 March 2022
and 28 February 2023 22,288 11,430 2,016 35,734
DEPRECIATION
At 1 March 2022 - 10,866 1,683 12,549
Charge for year - 85 110 195
At 28 February 2023 - 10,951 1,793 12,744
NET BOOK VALUE
At 28 February 2023 22,288 479 223 22,990
At 28 February 2022 22,288 564 333 23,185

WELLCOME PROPERTIES LTD (REGISTERED NUMBER: 03511829)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2022
and 28 February 2023 903,761
NET BOOK VALUE
At 28 February 2023 903,761
At 28 February 2022 903,761

The director has confirmed that there is no significant increase or decrease in the property market value.

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Other debtors 324,431 220,892

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
VAT 1,590 1,324
Other creditors 322,221 162,847
Loan account 623,539 729,981
Directors' current accounts 14,052 14,052
Accrued expenses 800 800
962,202 909,004

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
28.2.23 28.2.22
£    £   
Bank loans 374,337 341,075

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans 374,337 341,075

9. SECURED DEBTS

The following secured debts are included within creditors:

28.2.23 28.2.22
£    £   
Bank loans 374,337 341,075

Long term bank loan is secured by first charge over the company's investment property and bear interest at variable rates.

.

WELLCOME PROPERTIES LTD (REGISTERED NUMBER: 03511829)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2023

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
2 Ordinary £1 2 2

11. RESERVES
Retained
earnings
£   

At 1 March 2022 18,500
Deficit for the year (4,378 )
At 28 February 2023 14,122

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J Rothbart.