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REGISTERED NUMBER: 07859017 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

Welby Lane Stores Limited

Welby Lane Stores Limited (Registered number: 07859017)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


Welby Lane Stores Limited

Company Information
for the Year Ended 30 November 2023







DIRECTORS: Mrs R Bains
Mr Y Bains





REGISTERED OFFICE: 91 Soho Hill
Hockley
Birmingham
West Midlands
B19 1AY





REGISTERED NUMBER: 07859017 (England and Wales)





ACCOUNTANTS: AKB Group Limited
91 Soho Hill
Hockley
Birmingham
West Midlands
B19 1AY

Welby Lane Stores Limited (Registered number: 07859017)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 46,291 55,762
46,291 55,762

CURRENT ASSETS
Stocks 6 116,500 115,000
Debtors 7 6,213 40,251
Cash at bank and in hand 101,089 53,539
223,802 208,790
CREDITORS
Amounts falling due within one year 8 53,689 34,026
NET CURRENT ASSETS 170,113 174,764
TOTAL ASSETS LESS CURRENT
LIABILITIES

216,404

230,526

PROVISIONS FOR LIABILITIES 8,940 10,519
NET ASSETS 207,464 220,007

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 207,364 219,907
SHAREHOLDERS' FUNDS 207,464 220,007

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

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

Welby Lane Stores Limited (Registered number: 07859017)

Balance Sheet - continued
30 November 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 August 2024 and were signed on its behalf by:





Mr Y Bains - Director


Welby Lane Stores Limited (Registered number: 07859017)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

Welby Lane Stores 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.

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, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

Welby Lane Stores Limited (Registered number: 07859017)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 9 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 82,500
AMORTISATION
At 1 December 2022
and 30 November 2023 82,500
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 -

5. TANGIBLE FIXED ASSETS
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 December 2022
and 30 November 2023 154,605 12,083 166,688
DEPRECIATION
At 1 December 2022 109,919 1,007 110,926
Charge for year 6,702 2,769 9,471
At 30 November 2023 116,621 3,776 120,397
NET BOOK VALUE
At 30 November 2023 37,984 8,307 46,291
At 30 November 2022 44,686 11,076 55,762

6. STOCKS
30.11.23 30.11.22
£    £   
Stocks 116,500 115,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Other debtors 6,213 40,251

Welby Lane Stores Limited (Registered number: 07859017)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Trade creditors 2,457 10,332
Taxation and social security 20,770 17,622
Other creditors 30,462 6,072
53,689 34,026

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.11.23 30.11.22
value: £    £   
100 Ordinary £1 100 100

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 November 2023 and 30 November 2022:

30.11.23 30.11.22
£    £   
Mrs R Bains and Mr Y Bains
Balance outstanding at start of year 36,912 -
Amounts advanced - 36,912
Amounts repaid (36,912 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 36,912

The loan advanced is repayable within 1 year and no interest is chargeable.