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REGISTERED NUMBER: 12294120 (England and Wales)








Financial Statements

for the Year Ended 30 November 2023

for

Wells Street Films Limited

Wells Street Films Limited (Registered number: 12294120)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Wells Street Films Limited

Company Information
for the Year Ended 30 November 2023







DIRECTOR: P Waller-Bridge





REGISTERED OFFICE: St Johns House
16 Church Street
Bromsgrove
Worcestershire
B61 8DN





REGISTERED NUMBER: 12294120 (England and Wales)





AUDITORS: Edwards
34 High Street
Aldridge
Walsall
West Midlands
WS9 8LZ

Wells Street Films Limited (Registered number: 12294120)

Balance Sheet
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 3 98,358 76,745

CURRENT ASSETS
Debtors 4 246,228 240,727
Cash at bank 665,726 182,095
911,954 422,822
CREDITORS
Amounts falling due within one year 5 201,365 65,608
NET CURRENT ASSETS 710,589 357,214
TOTAL ASSETS LESS CURRENT LIABILITIES 808,947 433,959

CREDITORS
Amounts falling due after more than one year 6 (191,952 ) (191,952 )

PROVISIONS FOR LIABILITIES (24,589 ) (19,186 )
NET ASSETS 592,406 222,821

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 592,306 222,721
SHAREHOLDER FUNDS 592,406 222,821

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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 August 2024 and were signed by:





P Waller-Bridge - Director


Wells Street Films Limited (Registered number: 12294120)

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


1. 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 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 value added tax, sales returns, rebates and discounts.

Revenue is recognised on the provision of services. Where not all services have been rendered, revenue is recognised based upon the period lapsed compared with total period of the project.

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 etc - 20% on cost and in accordance with the property

Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of tangible assets to determine whether there is any indication that the assets have suffered an impairment loss.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of a company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as an interest expense in the income statement.

Financial assets and liabilities
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs).

Trade debtors
Trade debtors are recognised initially at transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for 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 receivable.

Trade creditors
Trade creditors 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 amounts falling due after more than one year.

Equity instruments
Equity instruments are measured at the fair value of the cash or other resources transferred or transferrable, net of the direct costs of issuing or receiving the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.


Wells Street Films Limited (Registered number: 12294120)

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


1. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Foreign currency transactions and balances
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Going concern
At the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

Cash at bank and in hand
Cash and cash equivalents include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of twelve months or less.

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.

Employment benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 2 ) .

Wells Street Films Limited (Registered number: 12294120)

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


3. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2022 159,914
Additions 72,244
Disposals (18,003 )
At 30 November 2023 214,155
DEPRECIATION
At 1 December 2022 83,169
Charge for year 42,830
Eliminated on disposal (10,202 )
At 30 November 2023 115,797
NET BOOK VALUE
At 30 November 2023 98,358
At 30 November 2022 76,745

4. DEBTORS
2023 2022
£    £   
Amounts falling due within one year:
Other debtors 54,276 48,775

Amounts falling due after more than one year:
Other debtors 191,952 191,952

Aggregate amounts 246,228 240,727

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 9,625 10,342
Amounts owed to group undertakings 19,093 20,998
Tax 106,977 -
Social security and other taxes 48,237 18,766
Other creditors 5,558 1,593
Accruals and deferred income 11,875 13,909
201,365 65,608

Wells Street Films Limited (Registered number: 12294120)

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


6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other creditors 191,952 191,952

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 159,960 159,960
Between one and five years 41,633 190,199
201,593 350,159

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

9. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Robert Kempson (ACA) (Senior Statutory Auditor)
for and on behalf of Edwards

10. RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption conferred within FRS102 section 33.lA not to disclose transactions between wholly owned members of the same group.

11. CONTROLLING PARTY

The company was under the control of its director who owns the total share capital of the parent company, PMWB Limited, throughout the whole period.

The parent company of the largest and smallest group of which the company is a member and into which the results are consolidated is PMWB Limited.

The director consider the ultimate parent company to be PMWB Limited, a company incorporated in Great Britain and registered in England and Wales. Copies of the financial statements of PMWB Limited are available on Companies House, Crown Way, Cardiff, CF14 3UZ.