Bright AccountsProduction v1.0.0 v1.0.0 2022-03-03 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is the repair and installation of organs. 30 November 2023 1 NI686310 2023-03-31 NI686310 2022-03-02 NI686310 2022-03-03 2023-03-31 NI686310 uk-bus:PrivateLimitedCompanyLtd 2022-03-03 2023-03-31 NI686310 uk-curr:PoundSterling 2022-03-03 2023-03-31 NI686310 uk-bus:SmallCompaniesRegimeForAccounts 2022-03-03 2023-03-31 NI686310 uk-bus:FullAccounts 2022-03-03 2023-03-31 NI686310 uk-bus:Director1 2022-03-03 2023-03-31 NI686310 uk-bus:RegisteredOffice 2022-03-03 2023-03-31 NI686310 uk-bus:Agent1 2022-03-03 2023-03-31 NI686310 uk-core:ShareCapital 2023-03-31 NI686310 uk-core:RetainedEarningsAccumulatedLosses 2023-03-31 NI686310 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-03-31 NI686310 uk-bus:FRS102 2022-03-03 2023-03-31 NI686310 uk-core:FurnitureFittingsToolsEquipment 2022-03-03 2023-03-31 NI686310 uk-core:MotorVehicles 2022-03-03 2023-03-31 NI686310 uk-core:WithinOneYear 2023-03-31 NI686310 uk-core:WithinOneYear 2023-03-31 NI686310 uk-core:AfterOneYear 2023-03-31 NI686310 uk-core:BetweenOneFiveYears 2023-03-31 NI686310 uk-core:EmployeeBenefits 2022-03-02 NI686310 uk-core:EmployeeBenefits 2022-03-03 2023-03-31 NI686310 uk-core:AcceleratedTaxDepreciationDeferredTax 2023-03-31 NI686310 uk-core:TaxLossesCarry-forwardsDeferredTax 2023-03-31 NI686310 uk-core:OtherDeferredTax 2023-03-31 NI686310 uk-core:RevaluationPropertyPlantEquipmentDeferredTax 2023-03-31 NI686310 uk-core:EmployeeBenefits 2023-03-31 NI686310 2022-03-03 2023-03-31 NI686310 uk-bus:AuditExempt-NoAccountantsReport 2022-03-03 2023-03-31 xbrli:pure iso4217:GBP xbrli:shares
Company Registration Number: NI686310
 
 
Wells Kennedy Limited
 
Unaudited Financial Statements
 
for the financial period from 3 March 2022 (date of incorporation) to 31 March 2023
Wells Kennedy Limited
Director and Other Information

 
Director James Stewart (Appointed 3 March 2022)
 
 
Company Registration Number NI686310
 
 
Registered Office 12 Cromac Place
Belfast
Antrim
BT7 2JB
 
 
Business Address Unit 25 Ledcon Business Park
100 Bank Road
Larne
Antrim
BT40 3AW
Northern Ireland
 
 
Accountants HCA Chartered Accountants Ltd
Chartered Accountants
12 Cromac Place,
The Gasworks,
Belfast
Antrim
BT7 2JB
Northern Ireland



Wells Kennedy Limited
Company Registration Number: NI686310
Statement of Financial Position
as at 31 March 2023

Mar 23
Notes £
 
Non-Current Assets
Property, plant and equipment 6 15,465
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Current Assets
Debtors 7 400
Cash and cash equivalents 34,570
─────────
34,970
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Creditors: amounts falling due within one year 8 (31,769)
─────────
Net Current Assets 3,201
─────────
Total Assets less Current Liabilities 18,666
 
Creditors:
amounts falling due after more than one year 9 (9,504)
 
Provisions for liabilities 11 2,938
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Net Assets 12,100
═════════
 
Capital and Reserves
Called up share capital 100
Retained earnings 12,000
─────────
Equity attributable to owners of the company 12,100
═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
       
The company has taken advantage of the exemption under section 444 not to file the Income Statement and Director's Report.
       
For the financial period from 3 March 2022 (date of incorporation) to 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
       
The director confirms that the members have not required the company to obtain an audit of its financial statements for the financial period in question in accordance with section 476 of the Companies Act 2006.
       
The director acknowledges his responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial period and of its profit and loss for the financial period 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.
       
Approved by the Director and authorised for issue on 30 November 2023
       
       
________________________________      
James Stewart      
Director      
       



Wells Kennedy Limited
Notes to the Financial Statements
for the financial period from 3 March 2022 (date of incorporation) to 31 March 2023

   
1. General Information
 
Wells Kennedy Limited is a company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI686310. The registered office of the company is 12 Cromac Place, Belfast, Antrim, BT7 2JB. The principal activity of the company is the repair and installation of organs. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the financial period ended 31 March 2023 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.
 
Property, plant and equipment and depreciation
Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:
 
  Fixtures, fittings and equipment - 15% Straight line
  Motor vehicles - 25% Straight line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Leasing and hire purchases
Property, plant and equipment held under leasing and Hire Purchases arrangements which transfer substantially all the risks and rewards of ownership to the company are capitalised and included in the Statement of Financial Position at their cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the Income Statement.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Borrowing costs
Borrowing costs relating to the acquisition of assets are capitalised at the appropriate rate by adding them to the cost of assets being acquired. Investment income earned on the temporary investment of specific borrowings pending their expenditure on the assets is deducted from the borrowing costs eligible for capitalisation. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.
 
Provisions
Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Employee benefits
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The company also operates a defined benefit pension scheme for its employees providing benefits based on final pensionable pay. The assets of this scheme are also held separately from those of the company, being invested with pension fund managers.
 
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial period and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable profits and its results as stated in the financial statements. Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the Statement of Financial Position date.
 
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Statement of Financial Position date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Income Statement.
 
Ordinary share capital
The ordinary share capital of the company is presented as equity.
   
3. Period of financial statements
 
The financial statements are for the 12 month 29 days period from 3 March 2022 (date of incorporation) to 31 March 2023.
   
4. Statement on previous periods
 
The company did not present financial statements for previous periods.
     
5. Employees
 
The average monthly number of employees, including director, during the financial period was 1.
 
  Mar 23
  Number
 
Director 1
  ═════════
         
6. Property, plant and equipment
  Fixtures, Motor Total
  fittings and vehicles  
  equipment    
  £ £ £
Cost
At 3 March 2022 - - -
Additions 820 19,800 20,620
  ───────── ───────── ─────────
At 31 March 2023 820 19,800 20,620
  ───────── ───────── ─────────
Depreciation
At 3 March 2022 - - -
Charge for the financial period 205 4,950 5,155
  ───────── ───────── ─────────
At 31 March 2023 205 4,950 5,155
  ───────── ───────── ─────────
Net book value
At 31 March 2023 615 14,850 15,465
  ═════════ ═════════ ═════════
     
7. Debtors Mar 23
  £
 
Trade debtors 400
  ═════════
     
8. Creditors Mar 23
Amounts falling due within one year £
 
Net obligations under finance leases
and hire purchase contracts 3,427
Taxation  (Note 10) 2,090
Director's current account 22,652
Accruals 3,600
  ─────────
  31,769
  ═════════
     
9. Creditors Mar 23
Amounts falling due after more than one year £
 
Finance leases and hire purchase contracts 9,504
  ═════════
 
 
Net obligations under finance leases
and hire purchase contracts
Repayable within one year 3,427
Repayable between one and five years 9,504
  ─────────
  12,931
  ═════════
     
10. Taxation Mar 23
  £
 
Creditors:
Corporation tax 2,090
  ═════════
       
11. Provisions for liabilities
 
The amounts provided for deferred taxation are analysed below:
 
  Capital Total
  allowances  
     
    Mar 23
  £ £
 
At financial period start - -
Charged to profit and loss (2,938) (2,938)
  ───────── ─────────
At financial period end (2,938) (2,938)
  ═════════ ═════════
     
12. Capital commitments
 
The company had no material capital commitments at the financial period-ended 31 March 2023.
   
13. Director's advances, credits and guarantees
 
At the year end the director was owed £22,652 by the company. No interest is charged on the amount owed.
   
14. Events After the End of the Reporting Period
 
There have been no significant events affecting the company since the financial period-end.