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REGISTERED NUMBER: 01397756 (England and Wales)















WELMARSDEN LIMITED

Unaudited Financial Statements for the Year Ended 31 December 2023






WELMARSDEN LIMITED (REGISTERED NUMBER: 01397756)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


WELMARSDEN LIMITED

Company Information
for the year ended 31 December 2023







DIRECTORS: S Lewis
K Banham





SECRETARY: S Lewis





REGISTERED OFFICE: Aissela
46 High Street
Esher
Surrey
KT10 9QY





REGISTERED NUMBER: 01397756 (England and Wales)





ACCOUNTANTS: Tudor John Limited
Nightingale House
46-48 East Street
Epsom
Surrey
KT17 1HQ

WELMARSDEN LIMITED (REGISTERED NUMBER: 01397756)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investments 4 92,458 92,458

CURRENT ASSETS
Debtors 5 549,071 549,071
Cash at bank 88 88
549,159 549,159
CREDITORS
Amounts falling due within one year 6 637,424 637,424
NET CURRENT LIABILITIES (88,265 ) (88,265 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,193

4,193

CAPITAL AND RESERVES
Called up share capital 4,000 4,000
Retained earnings 193 193
SHAREHOLDERS' FUNDS 4,193 4,193

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

WELMARSDEN LIMITED (REGISTERED NUMBER: 01397756)

Balance Sheet - continued
31 December 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 6 August 2024 and were signed on its behalf by:





S Lewis - Director


WELMARSDEN LIMITED (REGISTERED NUMBER: 01397756)

Notes to the Financial Statements
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Welmarsden 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.

The financial statements are prepared on a going concern basis using the historical cost convention.

INVESTMENTS IN SUBSIDIARIES
Investments in subsidiary undertakings are recognised at 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.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

CONSOLIDATION
The Company is a parent company subject to the small regime. The Company and its subsidiaries comprise a small group. The Company is therefore not required to and has not chosen to prepare group accounts. Consequently, the accounts of Welmarsden Limited are not incorporated into the accounts of Partridge Muir and Warren Holdings Limited.

INVESTMENTS HELD AS FIXED ASSETS
Investments held as fixed assets are stated at cost less provision for any impairment.

3. EMPLOYEES AND DIRECTORS

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

WELMARSDEN LIMITED (REGISTERED NUMBER: 01397756)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

4. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2023
and 31 December 2023 92,458
NET BOOK VALUE
At 31 December 2023 92,458
At 31 December 2022 92,458

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiary

Partridge Muir & Warren Limited
Registered office: In United Kingdom
Nature of business: Financial & wealth management services
%
Class of shares: holding
Ordinary Shares 100.00
2023 2022
£    £   
Aggregate capital and reserves 2,215,593 2,266,883
Profit for the year 748,710 833,927

ASSOCIATED COMPANY

PMW Legal Limited
Registered office: In United Kingdom
Nature of business: Legal and administrative services
%
Class of shares: holding
Ordinary 40.00
2023 2022
£    £   
Aggregate capital and reserves 61,282 80,092
(Loss)/profit for the year (18,810 ) 35,344

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by group undertakings 549,071 549,071

WELMARSDEN LIMITED (REGISTERED NUMBER: 01397756)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed to group undertakings 637,384 637,384
Amounts owed to associates 40 40
637,424 637,424

7. RELATED PARTY DISCLOSURES

A dividend of £800,000 was paid to Partridge Muir & Warren Holdings Limited (2022: £1,000,000)

As at 31st December 2023 the company owed £637,384 (2022: £637,384) to Partridge Muir & Warren Holdings Limited. In addition the company was owed £549,071 (2022: £549,071) by Partridge Muir & Warren Limited. Each of these companies are members of the same group.

As at 31st December 2023 the company owed £40 (2022: £40) to PMW Legal Limited, an associated company.