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Company Registration No. 11480616 (England and Wales)
Wellden Turnbull Limited Unaudited accounts for the year ended 30 June 2023
Wellden Turnbull Limited Unaudited accounts Contents
Page
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Wellden Turnbull Limited Company Information for the year ended 30 June 2023
Directors
Mrs E L Green Mr R W John Mr M Nelligan Mr S Odam Mr C Plumridge
Company Number
11480616 (England and Wales)
Registered Office
Albany House Claremont Lane Esher Surrey KT10 9FQ
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Wellden Turnbull Limited Statement of financial position as at 30 June 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
2,312,542 
2,181,964 
Tangible assets
372,172 
415,652 
Investments
4 
4 
2,684,718 
2,597,620 
Current assets
Debtors
2,093,748 
1,884,866 
Cash at bank and in hand
196,072 
303,184 
2,289,820 
2,188,050 
Creditors: amounts falling due within one year
(1,308,053)
(1,448,311)
Net current assets
981,767 
739,739 
Total assets less current liabilities
3,666,485 
3,337,359 
Creditors: amounts falling due after more than one year
(1,303,229)
(1,182,782)
Provisions for liabilities
Deferred tax
(87,324)
(97,309)
Net assets
2,275,932 
2,057,268 
Capital and reserves
Called up share capital
250 
250 
Profit and loss account
2,275,682 
2,057,018 
Shareholders' funds
2,275,932 
2,057,268 
For the year ending 30 June 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 27 February 2024 and were signed on its behalf by
Mr M Nelligan Director Company Registration No. 11480616
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Wellden Turnbull Limited Notes to the Accounts for the year ended 30 June 2023
1
Statutory information
Wellden Turnbull Limited is a private company, limited by shares, registered in England and Wales, registration number 11480616. The registered office is Albany House, Claremont Lane, Esher, Surrey, KT10 9FQ.
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 unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and Companies Act 2006. The company is a parent company and is exempt from the requirement to prepare group accounts by virtue of section 399 of the Companies Act 2006. These financial statements therefore present information about the company as an individual undertaking and not about its group. The following principal accounting policies have been applied:
Presentation currency
The accounts are presented in £ sterling and rounded to the nearest £.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the sage of completion of the contract when all the following conditions are satisfied: - the amount of revenue can be measured reliably; - it is probable that the Company will receive the consideration due under the contract; - the stage of completion of the contract at the end of the reporting period can be measured reliably; and - the costs incurred and the costs to complete the contract can be measured reliably.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
25% straight line
Computer equipment
33% straight line
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Goodwill is recognised over its estimated useful life of 3-15 years.
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Wellden Turnbull Limited Notes to the Accounts for the year ended 30 June 2023
Investments
Investments in subsidiaries are held at cost less impairment.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 July 2022
3,328,580 
Additions
836,324 
Disposals
(372,361)
At 30 June 2023
3,792,543 
Amortisation
At 1 July 2022
1,146,616 
Charge for the year
333,385 
At 30 June 2023
1,480,001 
Net book value
At 30 June 2023
2,312,542 
At 30 June 2022
2,181,964 
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Wellden Turnbull Limited Notes to the Accounts for the year ended 30 June 2023
5
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 July 2022
487,434 
49,652 
537,086 
Additions
3,813 
17,359 
21,172 
Disposals
- 
(3,331)
(3,331)
At 30 June 2023
491,247 
63,680 
554,927 
Depreciation
At 1 July 2022
88,722 
32,712 
121,434 
Charge for the year
49,535 
13,397 
62,932 
On disposals
- 
(1,611)
(1,611)
At 30 June 2023
138,257 
44,498 
182,755 
Net book value
At 30 June 2023
352,990 
19,182 
372,172 
At 30 June 2022
398,712 
16,940 
415,652 
6
Investments
Subsidiary undertakings 
£ 
Valuation at 1 July 2022
4 
Valuation at 30 June 2023
4 
The Company owns the share capital of two dormant companies, Wellco Secretaries Ltd and Wellco Trustees Limited.
7
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
1,163,236 
1,163,404 
Accrued income and prepayments
894,974 
714,487 
Other debtors
35,538 
6,975 
2,093,748 
1,884,866 
8
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
86,520 
118,047 
Taxes and social security
670,789 
657,784 
Other creditors
356,862 
495,121 
Loans from directors
4,853 
3,605 
Accruals
189,029 
173,754 
1,308,053 
1,448,311 
The Company's assets are secured by way of a fixed and floating charge in favour of NatWest relating to an overdraft facility, not utilised at the balance sheet date or at the date of signing.
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Wellden Turnbull Limited Notes to the Accounts for the year ended 30 June 2023
9
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Other creditors
1,303,229 
1,182,782 
10
Deferred taxation
2023 
2022 
£ 
£ 
Accelerated capital allowances
87,324 
97,309 
2023 
2022 
£ 
£ 
Provision at start of year
97,309 
83,231 
(Credited)/charged to the profit and loss account
(9,985)
14,078 
Provision at end of year
87,324 
97,309 
11
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
50 A Ordinary Shares of £1 each
50 
50 
50 B Ordinary Shares of £1 each
50 
50 
50 C Ordinary Shares of £1 each
50 
50 
50 D Ordinary Shares of £1 each
50 
50 
50 E Ordinary Shares of £1 each
50 
50 
250 
250 
12
Operating lease commitments
2023 
2022 
£ 
£ 
At 30 June 2023 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
145,002 
130,818 
Later than one year and not later than five years
504,899 
492,528 
Later than five years
288,742 
387,917 
938,643 
1,011,263 
13
Average number of employees
During the year the average number of employees was 56 (2022: 49).
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