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REGISTERED NUMBER: 06269553 (England and Wales)















WELL POLISHED (FRANCHISING) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2023






WELL POLISHED (FRANCHISING) LIMITED (REGISTERED NUMBER: 06269553)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WELL POLISHED (FRANCHISING) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTORS: M J Campbell
Mrs J Campbell
Ms J E Campbell





SECRETARY: M J Campbell





REGISTERED OFFICE: Unit B2, Willow House
Oaklands Office Park
Hooton Road
Hooton
Cheshire
CH66 7NZ





REGISTERED NUMBER: 06269553 (England and Wales)





ACCOUNTANTS: Murray Smith LLP
Chartered Accountants
Darland House
44 Winnington Hill
Northwich
Cheshire
CW8 1AU

WELL POLISHED (FRANCHISING) LIMITED (REGISTERED NUMBER: 06269553)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,803 8,880

CURRENT ASSETS
Debtors 5 144,344 164,432
Cash at bank and in hand 54 54
144,398 164,486
CREDITORS
Amounts falling due within one year 6 147,070 89,113
NET CURRENT (LIABILITIES)/ASSETS (2,672 ) 75,373
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,131

84,253

CREDITORS
Amounts falling due after more than one
year

7

135,700

168,718
NET LIABILITIES (134,569 ) (84,465 )

CAPITAL AND RESERVES
Called up share capital 9 10 10
Retained earnings (134,579 ) (84,475 )
SHAREHOLDERS' FUNDS (134,569 ) (84,465 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

WELL POLISHED (FRANCHISING) LIMITED (REGISTERED NUMBER: 06269553)

BALANCE SHEET - continued
30 JUNE 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 Board of Directors and authorised for issue on 12 March 2024 and were signed on its behalf by:





M J Campbell - Director


WELL POLISHED (FRANCHISING) LIMITED (REGISTERED NUMBER: 06269553)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

Well Polished (Franchising) 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.

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.

The financial statements have been prepared on the going concern basis which is reliant on the directors continuing to support the company.

Turnover
Turnover represents net invoiced sales of goods and services, 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.
Fixtures and fittings - 25% on cost
Computer Software - 20% on cost
Computer equipment - 33% on cost

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of the business.

Trade debtors are recognised initially at the transaction price. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

WELL POLISHED (FRANCHISING) LIMITED (REGISTERED NUMBER: 06269553)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

2. ACCOUNTING POLICIES - continued

Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on the present value basis.

Government grants
Grants are included in the profit and loss account on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown on the balance sheet. Where income is received in advance of meeting any performance-related conditions there is not unconditional entitlement to the income and its recognition is deferred and included in creditors as deferred income until the performance-related conditions are met. Where entitlement occurs before income is received, the income is accrued.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer Computer
fittings Software equipment Totals
£    £    £    £   
COST
At 1 July 2022 27,392 30,100 11,435 68,927
Additions - - 823 823
At 30 June 2023 27,392 30,100 12,258 69,750
DEPRECIATION
At 1 July 2022 27,117 22,095 10,835 60,047
Charge for year 275 5,024 601 5,900
At 30 June 2023 27,392 27,119 11,436 65,947
NET BOOK VALUE
At 30 June 2023 - 2,981 822 3,803
At 30 June 2022 275 8,005 600 8,880

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 63,484 60,971
Amounts owed by related parties 58,073 84,741
Other debtors 15,731 14,478
Prepayments and accrued income 7,056 4,242
144,344 164,432

WELL POLISHED (FRANCHISING) LIMITED (REGISTERED NUMBER: 06269553)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 22,132 20,709
Other loans 35,549 -
Trade creditors 39,322 42,669
Corporation tax 16,601 2,776
Social security and other taxes 31,760 21,069
Other creditors 300 600
Accrued expenses 1,406 1,290
147,070 89,113

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 7,232 8,333
Bank loans - 2-5 years 21,695 25,000
Bank loans more than 5 years 13,861 15,973
Directors' loan accounts 92,912 119,412
135,700 168,718

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years 13,861 15,973

8. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 18,920 14,059
Between one and five years 13,736 18,120
32,656 32,179

9. CALLED UP SHARE CAPITAL

Allotted and issued:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary shares £0.10 10 10