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Company Registration No. 05766291 (England and Wales)
Welmac UK Ltd Unaudited accounts for the year ended 30 April 2023
Welmac UK Ltd Unaudited accounts Contents
Page
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Welmac UK Ltd Company Information for the year ended 30 April 2023
Directors
Mr A Balfe Mr J Doy
Company Number
05766291 (England and Wales)
Registered Office
Holme Close Main Road Welbourn Lincolnshire LN5 0QL
Accountants
Mike Behan Accountant 21 Millbrook Close North Hykeham Lincoln LN6 9TA
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Welmac UK Ltd Statement of financial position as at 30 April 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
19,496 
76,274 
Current assets
Inventories
5,000 
35,000 
Debtors
12,478 
56,370 
Cash at bank and in hand
91,983 
110,538 
109,461 
201,908 
Creditors: amounts falling due within one year
(18,905)
(119,035)
Net current assets
90,556 
82,873 
Total assets less current liabilities
110,052 
159,147 
Provisions for liabilities
Deferred tax
(3,704)
(14,492)
Net assets
106,348 
144,655 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
106,346 
144,653 
Shareholders' funds
106,348 
144,655 
For the year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 26 November 2023 and were signed on its behalf by
Mr A Balfe Director Company Registration No. 05766291
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Welmac UK Ltd Notes to the Accounts for the year ended 30 April 2023
1
Statutory information
Welmac UK Ltd is a private company, limited by shares, registered in England and Wales, registration number 05766291. The registered office is Holme Close, Main Road, Welbourn, Lincolnshire, LN5 0QL.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
15% On Reducing balance
Motor vehicles
25% On Reducing Balance
Fixtures & fittings
15% On Reducing balance
4
Tangible fixed assets
Plant & machinery 
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At 1 May 2022
195,648 
61,895 
2,197 
259,740 
Disposals
(60,738)
(15,150)
- 
(75,888)
At 30 April 2023
134,910 
46,745 
2,197 
183,852 
Depreciation
At 1 May 2022
134,109 
47,818 
1,539 
183,466 
Charge for the year
5,941 
1,460 
99 
7,500 
On disposals
(15,796)
(10,814)
- 
(26,610)
At 30 April 2023
124,254 
38,464 
1,638 
164,356 
Net book value
At 30 April 2023
10,656 
8,281 
559 
19,496 
At 30 April 2022
61,539 
14,077 
658 
76,274 
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Welmac UK Ltd Notes to the Accounts for the year ended 30 April 2023
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
12,478 
56,370 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
VAT
3,836 
21,733 
Trade creditors
291 
11,472 
Taxes and social security
12,526 
16,228 
Other creditors
4 
354 
Loans from directors
1,498 
68,498 
Accruals
750 
750 
18,905 
119,035 
7
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
2 Ordinary shares of £1 each
2 
2 
8
Transactions with related parties
A Balfe, Director Received dividends totalling £ 32,600 (2022 : £ 38,035). J Doy, Director Received dividends totalling £ 32,600 (2022 : £ 38,035).
9
Controlling party
The company is controlled by the director's as a body but there is no single controlling party.
10
Average number of employees
During the year the average number of employees was 2 (2022: 6).
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