2022-03-012023-02-282023-02-28false11802775WELLINGTON DEVELOPMENTS 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WELLINGTON DEVELOPMENTS LIMITED

Registered Number
11802775
(England and Wales)

Unaudited Financial Statements for the Year ended
28 February 2023

WELLINGTON DEVELOPMENTS LIMITED
Company Information
for the year from 1 March 2022 to 28 February 2023

Director

WALFORD, Daniel James

Registered Address

23 Ellesmere Avenue
Eccles
Manchester
M30 9GZ

Registered Number

11802775 (England and Wales)
WELLINGTON DEVELOPMENTS LIMITED
Balance Sheet as at
28 February 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets51,700,000896,200
1,700,000896,200
Current assets
Debtors6549,940-
Cash at bank and on hand6,8986,898
556,8386,898
Creditors amounts falling due within one year7(190,708)(254,108)
Net current assets (liabilities)366,130(247,210)
Total assets less current liabilities2,066,130648,990
Creditors amounts falling due after one year8(1,156,080)(542,340)
Provisions for liabilities9(25,329)(25,329)
Net assets884,72181,321
Capital and reserves
Profit and loss account884,72181,321
Shareholders' funds884,72181,321
The financial statements were approved and authorised for issue by the Director on 24 July 2023, and are signed on its behalf by:
WALFORD, Daniel James
Director
Registered Company No. 11802775
WELLINGTON DEVELOPMENTS LIMITED
Notes to the Financial Statements
for the year ended 28 February 2023

1.Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
2.Compliance with applicable reporting framework
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
3.Accounting policies
Property, plant and equipment policy
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Revenue recognition policy
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.
Deferred tax policy
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.
Foreign currency translation and operations policy
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.
4.Employee information

20232022
Average number of employees during the year00
5.Property, plant and equipment

Land & buildings

Total

££
Cost or valuation
At 01 March 22896,200896,200
Additions803,800803,800
At 28 February 231,700,0001,700,000
Net book value
At 28 February 231,700,0001,700,000
At 28 February 22896,200896,200
6.Debtors

2023

2022

££
Other debtors5,542-
Amounts owed by associates and joint ventures / participating interests (Non-current)544,398-
Total549,940-
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.
7.Creditors within one year

2023

2022

££
Bank borrowings and overdrafts189,100252,900
Taxation and social security848848
Accrued liabilities and deferred income760360
Total190,708254,108
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.
8.Creditors after one year

2023

2022

££
Bank borrowings and overdrafts1,156,080542,340
Total1,156,080542,340
9.Provisions for liabilities

2023

2022

££
Net deferred tax liability (asset)25,32925,329
Total25,32925,329