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REGISTERED NUMBER: 05451818 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2023

FOR

WELLS PROPERTY DEVELOPMENT LIMITED

WELLS PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: 05451818)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 5

WELLS PROPERTY DEVELOPMENT LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: G P Wells
S L Wells





SECRETARY: S L Wells





REGISTERED OFFICE: 45 Union Road
New Mills
High Peak
Derbyshire
SK22 3EL





REGISTERED NUMBER: 05451818 (England and Wales)





ACCOUNTANTS: A.Allen & Son Limited
45 Union Road
New Mills
High Peak
SK22 3EL

WELLS PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: 05451818)

ABRIDGED BALANCE SHEET
31 MAY 2023

31/5/23 31/5/22
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 121,841 121,841

CREDITORS
Amounts falling due within one year 18,195 18,192
NET CURRENT LIABILITIES (18,195 ) (18,192 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

103,646

103,649

CREDITORS
Amounts falling due after more than one
year

5

95,637

95,767
NET ASSETS 8,009 7,882

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 7,909 7,782
SHAREHOLDERS' FUNDS 8,009 7,882

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

WELLS PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: 05451818)

ABRIDGED BALANCE SHEET - continued
31 MAY 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 May 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 January 2024 and were signed on its behalf by:





G P Wells - Director


WELLS PROPERTY DEVELOPMENT LIMITED (REGISTERED NUMBER: 05451818)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023

1. STATUTORY INFORMATION

Wells Property Development Limited 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.

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.

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 2 (2022 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2022
and 31 May 2023 121,841
NET BOOK VALUE
At 31 May 2023 121,841
At 31 May 2022 121,841

5. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE
YEARS
31/5/23 31/5/22
£    £   
Repayable by instalments
Bank loans - over 5 years - 95,767

6. SECURED DEBTS

The following secured debts are included within creditors:

31/5/23 31/5/22
£    £   
Bank loans 95,637 95,767

The loan on Haregate Road is secured by a first charge to CHL Mortgages.

7. ULTIMATE CONTROLLING PARTY

The directors are considered to be the ultimate controlling party.

CHARTERED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
WELLS PROPERTY DEVELOPMENT LIMITED

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Wells Property Development Limited for the year ended 31 May 2023 which comprise the Statement of Income and Retained Earnings, Abridged Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Wells Property Development Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Wells Property Development Limited and state those matters that we have agreed to state to the Board of Directors of Wells Property Development Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Wells Property Development Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Wells Property Development Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Wells Property Development Limited. You consider that Wells Property Development Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Wells Property Development Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






A.Allen & Son Limited
45 Union Road
New Mills
High Peak
SK22 3EL


29 January 2024