Wellco Heating Limited 14843240 false 2023-05-03 2024-05-31 2024-05-31 The principal activity of the company is plumbing and heating engineering services Digita Accounts Production Advanced 6.30.9574.0 true true 14843240 2023-05-03 2024-05-31 14843240 2024-05-31 14843240 bus:OrdinaryShareClass1 2024-05-31 14843240 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 14843240 core:FurnitureFittingsToolsEquipment 2024-05-31 14843240 core:MotorVehicles 2024-05-31 14843240 core:OtherPropertyPlantEquipment 2024-05-31 14843240 bus:SmallEntities 2023-05-03 2024-05-31 14843240 bus:AuditExemptWithAccountantsReport 2023-05-03 2024-05-31 14843240 bus:FilletedAccounts 2023-05-03 2024-05-31 14843240 bus:SmallCompaniesRegimeForAccounts 2023-05-03 2024-05-31 14843240 bus:RegisteredOffice 2023-05-03 2024-05-31 14843240 bus:Director1 2023-05-03 2024-05-31 14843240 bus:OrdinaryShareClass1 2023-05-03 2024-05-31 14843240 bus:PrivateLimitedCompanyLtd 2023-05-03 2024-05-31 14843240 core:FurnitureFittingsToolsEquipment 2023-05-03 2024-05-31 14843240 core:MotorVehicles 2023-05-03 2024-05-31 14843240 core:OfficeEquipment 2023-05-03 2024-05-31 14843240 core:OtherPropertyPlantEquipment 2023-05-03 2024-05-31 14843240 core:PlantMachinery 2023-05-03 2024-05-31 14843240 countries:England 2023-05-03 2024-05-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 14843240

Wellco Heating Limited

Unaudited Financial Statements

for the Period from 3 May 2023 to 31 May 2024

 

Wellco Heating Limited

Contents

Balance Sheet

1

Notes to the Unaudited Financial Statements

2 to 5

 

Wellco Heating Limited

(Registration number: 14843240)
Balance Sheet as at 31 May 2024

Note

2024
£

Fixed assets

 

Tangible assets

4

5,062

Current assets

 

Cash at bank and in hand

 

9,345

Creditors: Amounts falling due within one year

5

(15,057)

Net current liabilities

 

(5,712)

Net liabilities

 

(650)

Capital and reserves

 

Called up share capital

100

Retained earnings

(750)

Shareholders' deficit

 

(650)

For the financial period ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 27 August 2024
 

.........................................
Mr Dean Robert Wells
Director

 

Wellco Heating Limited

Notes to the Unaudited Financial Statements for the Period from 3 May 2023 to 31 May 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
190 Hitchin Road
Arlesey
Bedfordshire
SG15 6SD
England

These financial statements were authorised for issue by the director on 27 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

At the Balance sheet date the company had net current liabilities and negative reserves. The director pledges his ongoing support of the company and as such the financial statements have been prepared on a going concern basis.

 

Wellco Heating Limited

Notes to the Unaudited Financial Statements for the Period from 3 May 2023 to 31 May 2024

Judgements

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and Machinery

25% reducing balance

Office Equipment

25% reducing balance

Motor vehicles

25% reducing balance

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.

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 a present value basis.

 

Wellco Heating Limited

Notes to the Unaudited Financial Statements for the Period from 3 May 2023 to 31 May 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1.

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

Additions

750

3,500

2,500

6,750

At 31 May 2024

750

3,500

2,500

6,750

Depreciation

Charge for the period

188

875

625

1,688

At 31 May 2024

188

875

625

1,688

Carrying amount

At 31 May 2024

562

2,625

1,875

5,062

5

Creditors

Creditors: amounts falling due within one year

2024
£

Due within one year

Taxation and social security

13,423

Accruals and deferred income

750

Other creditors

884

15,057

6

Share capital

Allotted, called up and fully paid shares

 

Wellco Heating Limited

Notes to the Unaudited Financial Statements for the Period from 3 May 2023 to 31 May 2024

 

2024

 

No.

£

Ordinary of £1 each

100

100

     

7

Dividends

Interim dividends paid

2024
£

Interim dividend of £430.85 per each Ordinary

43,085

 

8

Related party transactions

Other transactions with the director

At the year-end, the comapny owed the Director £126, there are no terms relating to the repayment of this loan or interest being charged.