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REGISTERED NUMBER: 12177666 (England and Wales)















WELL POLISHED UK LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023






WELL POLISHED UK LIMITED (REGISTERED NUMBER: 12177666)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WELL POLISHED UK LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 AUGUST 2023







DIRECTORS: M J Campbell
Ms E Murphy





SECRETARY: M J Campbell





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





REGISTERED NUMBER: 12177666 (England and Wales)





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

WELL POLISHED UK LIMITED (REGISTERED NUMBER: 12177666)

BALANCE SHEET
31 AUGUST 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 27,580 61,464
Tangible assets 5 651 2,846
28,231 64,310

CURRENT ASSETS
Debtors 6 498 1,493
Cash at bank 687 1,926
1,185 3,419
CREDITORS
Amounts falling due within one year 7 45,725 93,131
NET CURRENT LIABILITIES (44,540 ) (89,712 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(16,309

)

(25,402

)

CREDITORS
Amounts falling due after more than one
year

8

53,772

72,098
NET LIABILITIES (70,081 ) (97,500 )

CAPITAL AND RESERVES
Called up share capital 9 95 95
Retained earnings (70,176 ) (97,595 )
SHAREHOLDERS' FUNDS (70,081 ) (97,500 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 UK LIMITED (REGISTERED NUMBER: 12177666)

BALANCE SHEET - continued
31 AUGUST 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 UK LIMITED (REGISTERED NUMBER: 12177666)

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

1. STATUTORY INFORMATION

Well Polished UK 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill represents the cost of purchasing territories from franchisees and is amortised on a straight line basis over 5 years.

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 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.

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 UK LIMITED (REGISTERED NUMBER: 12177666)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 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 1 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 September 2022 133,754
Disposals (31,895 )
At 31 August 2023 101,859
AMORTISATION
At 1 September 2022 72,290
Amortisation for year 23,870
Eliminated on disposal (21,881 )
At 31 August 2023 74,279
NET BOOK VALUE
At 31 August 2023 27,580
At 31 August 2022 61,464

WELL POLISHED UK LIMITED (REGISTERED NUMBER: 12177666)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

5. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 September 2022
and 31 August 2023 1,840 7,848 9,688
DEPRECIATION
At 1 September 2022 1,086 5,756 6,842
Charge for year 460 1,735 2,195
At 31 August 2023 1,546 7,491 9,037
NET BOOK VALUE
At 31 August 2023 294 357 651
At 31 August 2022 754 2,092 2,846

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 141 1,061
Other debtors 357 95
Prepayments and accrued income - 337
498 1,493

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 7,233 2,083
Other loans 12,000 12,000
Trade creditors 244 4,102
Corporation tax 3,232 -
Social security and other taxes 1,630 4,662
Amounts due to related undertakings 20,202 69,198
Accrued expenses 1,184 1,086
45,725 93,131

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 7,233 8,333
Bank loans - 2-5 years 21,700 25,000
Bank loans more than 5 years 12,658 14,584
Other loans - 1-2 years 12,000 12,000
Other loans - 2-5 years 181 12,181
53,772 72,098

WELL POLISHED UK LIMITED (REGISTERED NUMBER: 12177666)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 AUGUST 2023

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years 12,658 14,584

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
9,500 Ordinary £0.01 95 95